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Congress' last-ditch talks on virus stimulus fail

Congress' last-ditch talks on virus stimulus fail

Washington, Aug 8(UNI) The last-ditch negotiations at the US Congress to forge another stimulus package for the coronavirus-ravaged economy on Saturday collapsed in stalemate.
Democrats and Republicans failed to agree on anything, from unemployment benefits to financial aid for schools to cash injections for states' coffers, the BBC reported.
The US unemployment rate currently stands at 10.2%, higher than it was during the 2008 financial crisis, even as jobless benefits expire, as do the federal moratorium on evictions.
On Friday, House of Representatives Speaker Nancy Pelosi, held a meeting with Treasury Secretary Steven Mnuchin and White House chief of staff Mark Meadows and later said that she was willing to offer a compromise.
In May, her Democratic-controlled chamber passed a $3.5tr stimulus bill, but was rejected by President Donald Trump and the Republicans controlled Senate.
Republicans prefer a package closer to $1tr total and want any deal to include legal protections for employers against virus-related health claims from workers.
They are also pushing to reduce the $600 unemployment benefits, which expired last month, and want far less aid to local governments than Democrats are seeking.
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