Director of the National Economic Council Larry Kudlow speaks to reporters after a TV interview outside of the West Wing of the White House in Washington, DC on October 9, 2020. (Photo by MANDEL NGAN/AFP via Getty Images)
(CNSNews.com) – President Donald Trump has approved a revised coronavirus stimulus package, though the details have yet to be ironed out, National Economic Council Director Larry Kudlow announced Friday.
Kudlow told Fox Business’s “Varney” that White House Chief of Staff Mark Meadows and Treasury Secretary Steven Mnuchin just met with the president, and Mnuchin plans to meet with House Speaker Nancy Pelosi (D-Calif.) this afternoon to talk about the details.
“The president has approved a revised package. He has approved a revised package. He would like to do a deal,” Kudlow said.
When asked whether he has any idea what the package would include, Kudlow said, “No, it will be — it will be relatively broad-based, but I can’t go through details, Stuart. That’s going to be hashed out in the discussions, but again, let me repeat, in a very recent meeting in the Oval with Mark Meadows and Steve Mnuchin, the president approved the package. It’s a revised package.”
Host Stuart Varney asked, “Does the White House and you and Secretary Mnuchin, you absolutely say no way that you will allow the bailout of Democrat states? Is that absolutely off the table?”
“Stuart, I just can’t get into any details like that. It’s never been a totally purist position. It was just a question of where that money would go and how efficiently and smart that money might be and what the sums are, but I can’t possibly go into any specifics. Believe me, Secretary Mnuchin, who is awfully good at this, will be discussing with Speaker Pelosi the final touches and details, but I think the key point is the president has approved the package and quote, ‘he wants to do a deal,’” Kudlow said.
“I think, now, look, I think this package is going to include what our White House asks have been with respect to airline assistance, to small business PPP assistance, probably. I can’t swear to this. There’ll be some backup for unemployment assistance – exactly the things that I’ve argued will help the recovery. Okay? It’s like taking out an insurance contract,” he added.
Kudlow said that “the gap is narrowing,” and “we are moving in the right direction.”
“The bid and the offer, if you will, has narrowed significantly, and therefore, in Wall Street terms, there may be a trade for some additional assistance for the American recovery from this pandemic contraction,” he said.