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Democratic House Speaker Nancy Pelosi said Sunday that talks over a new stimulus package remain at a standstill, according to a report in the Wall Street Journal.
- Pelosi said the Trump administration's nearly $1.9 trillion proposal still lacks adequate funding and has no plan for national testing and contact tracing, the WSJ reported.
- Meanwhile, the president laid responsibility for the holdup on the House speaker: “Republicans want to do it. We’re having a hard time with Nancy Pelosi,” the WSJ quoted the president as saying Sunday on Fox News.
- But yesterday it was reported that some in the GOP were reluctant to back the president's proposal, instead voicing support for a much smaller package.
- In addition, the White House proposal would expand the Affordable Care Act's provisions for people who have lost their jobs - and therefore insurance - during the pandemic. As many in the GOP have been trying to scrap the ACA, the proposal to expand it is problematic to say the least, the WSJ said.
- Why this matter in the crypto world: Bitcoin (BTC) prices have been buoyed this year as investors bet that trillions of dollars of government and central bank spending around the world in response to the coronavirus-induced slowdown will inevitably result in inflation, and therefore be positive for the cryptocurrency.
- With that in mind, should the two sides reach an agreement on a pandemic-relief package, the price of BTC could rise as a result.
- In recent trading, BTC was trading at $11,425, up 0.43% in the last 24 hours.
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