Vice President Joe Biden has picked Senator Kamala Harris as his running mate. Harris is the second African American woman and the first Indian American to serve in the United States Senate.
The Biden campaign declined to comment when asked if VP Biden supports Senator Harris plan with Bernie Sanders & Ed Markey to provide $2,000 every month to millions of Americans during the pandemic (and 3 months after).
The November election will be a showdown between 2 sides with many ideological differences. One of those difference is fiscal (monetary) policy.
KEY COMMENTS FROM TREASURY SECRETARY
It was clear to us that Nancy Pelosi and Chuck Schumer were just not willing to compromise. And as a result of that, we walked out, we called the President and said, look, it’s time for you to move forward with executive action. And those executive actions are very important. It’s not everything we can do with legislation.
My view on a negotiation is you agree on the things that you can agree on pass legislation that’s good for the American public and then come back always for another bill. And I think the Democrats are very focused on the politics. Perhaps they think that any deal is good for the President and that’s why they don’t want to do it.
We even agreed to state and local aid, just not the ridiculous trillion dollars that they wanted.
Most of that money has not been spent. Most of the states are sitting on a lot of that money. They want to use it for lost revenues.
The way the Democrats come up with this trillion dollars is they look at the next two years, they project losses. They don’t think the economy is going to open up. We do.
The President would like to do capital gains tax cuts.
For the next few years, while we recover, we should reduce those capital gains.
And I would just add that in 2003, Biden voted against the reduction of 20%. So, again, you see two very different economic policies. One is tax more and hurt the economy. One is create selective tax cuts, regulatory relief and economic agenda trade that will stimulate the economy.
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U.S. Treasury Secretary Steven Mnuchin says Democrats Sen. Chuck Schumer, D-N.Y., and Rep. Nancy Pelosi, D-Calif., are unwilling to compromise on some aspects of the stimulus package, which caused President Trump to sign his executive orders to get things done in the meantime. He later addresses the payroll tax cuts Trump made, the future of capital gains tax, the economy as the country reopens and the national debt.