White House proposes new US$916b stimulus plan: Mnuchin

[WASHINGTON] US Treasury Secretary Steven Mnuchin on Tuesday unveiled a new US$916 billion pandemic aid proposal, aiming to break a months-long deadlock in Congress over additional aid to the coronavirus-ravaged US economy.

The proposal, slightly larger than a US$908 billion measure unveiled by a bipartisan group of senators last week, would include "money for state and local governments and robust liability protections for businesses, schools and universities," Mr Mnuchin said in a statement, all of which have been key sticking points in the negotiations.

Mr Mnuchin said he presented the proposal to Democratic House Speaker Nancy Pelosi in a meeting Tuesday evening, and also reviewed it with outgoing President Donald Trump.

AFP