12.10.202012:55 Forex Analysis & Reviews: Trump administration proposes a $1.8 trillion stimulus package

On Saturday, the Trump administration proposed a new stimulus package to the Congress, the amount of which is $ 1.8 trillion. However, both the Democrats and Republicans expressed their dissent on it.

In a letter to fellow Democrats, House Speaker Nancy Pelosi said the proposal lacked a "strategic plan to suppress the virus", and that Trump had too much leeway to decide on the allocation of funds.

"At the moment, we still have disagreements on many priorities, and Democrats are awaiting clarification from the Trump administration on some provisions, as negotiations on the total amount of funding are still ongoing," Pelosi said.

Several Republican senators also expressed their criticism towards the new package.

US Secretary of the Treasury, Steven Mnuchin, was the one who put forward the proposal last Friday afternoon.

This new package, which is larger than the previous White House bill, is close to the $ 2.2 trillion package that the House of Representatives passed last week.

White House spokeswoman, Alyssa Farah, said the administration proposed it because they would like to spend less than $ 2 trillion, but remain giving assistance to individuals, as well as to small businesses and airlines.