United States House Speaker Nancy Pelosi revealed on Tuesday the Democrats and the GOP have joined efforts to write the relief bill in order to pass it in the Congress before the presidential elections.
Pelosi expressed her optimism about reaching a bipartisan agreement, but noted there are still sticking points that would have to be resolved before the bill is approved. State and local funding and liability overhaul remain topics of the discussions.
Treasury Secretary Steven Mnuchina and Pelosi are expected to speak in the evening, after which it will be found out if the two sides have reached the common ground on the relief.
The Dow Jones extended gains on Tuesday as the United States House Speaker Nancy Pelosi said stimulus deal is possible by day’s end. Also, US President Donald Trump stated that he is willing to go over $2.2 trillion in economic stimulus.
The Dow Jones was up by 276 points at 12:43 pm ET or 0.98%. The Nasdaq 100 climbed by 0.92%, and the S&P 500 traded 1.06% in the green.