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Trump on stimulus: 'go big or go home'

The stimulus proposal down in Washington D.C. remains at an impasse as President Trump calls for ‘big’ stimulus, which McConnell shot down, pushing forward his own $500 billion proposal. Yahoo Finance’s Jessica Smith joins The Final Round panel to discuss the latest happenings down in Washington D.C.

Video Transcript

SEANA SMITH: Let's get to Washington for the latest on the stimulus talks. President Trump reiterating his call for a big deal during his town hall last night. Jess Smith has the latest for us. Jess?

JESSICA SMITH: Yeah. Well, last we heard from Speaker Pelosi and Treasury Secretary Mnuchin, they seemed to be making progress on at least the national testing strategy portion of any potential agreement. That was a big issue in their negotiations. We are still waiting to hear word from them if they have agreed on something, but it seemed like they were at least making progress.

We know they talked yesterday for almost an hour and a half, and after that conversation, Speaker Pelosi put out a letter and she said, "Even If the testing gets worked out, there are still several differences that remain." She mentioned state and local aid funding for childcare tax credits and help for small businesses.

In that letter, she went on to say that, "Our disagreements are about more than dollars and cents. They are about values and common sense and respect for lives, livelihoods, in the life of our American democracy. Hopefully, the president's statement to his team to 'go big or go home' and to absolutely accept the larger relief package will translate into results."

But as we have talked about for the past few months, the Republican Senate is not interested in a much larger relief package. So even if Pelosi and Mnuchin work something out, they still have to face that hurdle.

President Trump did address that in his town hall last night. He was asked how he's going to do this without the Republican Senate on board, and he says that the Republican senators will get on board with this if there is an agreement. He says they're not onboard right now because he hasn't asked them to be, so we'll see if they can come to an agreement, and if these Republican senators fall in line. Seana?