Happy Wednesday and welcome back to On The Money. Im Sylvan Lane, and heres your nightly guide to everything affecting your bills, bank account and bottom line.
THE BIG DEALPower players play chess match on COVID-19 aid: A chess match has emerged over a new round of COVID-19 relief, with multiple players arguing over timing as larger political implications shadow the talks.
The eleventh-hour chess match being orchestrated by Washington's most powerful figures each of them facing unique pressures and driven by competing motivations carries the highest stakes:
The Hills Mike Lillis breaks it down here.
The state of play: Pelosi and Mnuchin spoke again for almost an hour on Wednesday afternoon, with the sides closer to being able to put pen to paper to write legislation, according to Pelosi spokesman Drew Hammill. They are expected to speak again on Thursday.
Read more: Pelosi bullish on COVID-19 deal: 'Help is on the way'
The ACB connection:
The Trump card: As always, President Trump remains a wild card in negotiations. While he first called for a massive stimulus bill, he backed away from talks, then called for a smaller piecemeal approach and then came full circle to support a package even larger than Democrats have proposed.
The quicker we can make a deal the better off it is for all Americans, White House chief of staff Mark MeadowsMark Randall MeadowsJudge rules to not release Russia probe documents over Trump tweets Trump and advisers considering firing FBI director after election: WaPo On The Money: Power players play chess match on COVID-19 aid | Pelosi bullish, Trump tempers optimism | Analysis: Nearly 1M have run out of jobless benefits MORE told reporters Wednesday in the Capitol, where he huddled with Republicans.
Read more: Trump casts doubt on hopes for quick stimulus deal after aides expressed optimism
LEADING THE DAY
NYTTax records show Trump maintains a Chinese bank account: President Trump's tax records show that China is one of three foreign countries where he maintains a bank account, The New York Times reported Tuesday.
The account is controlled by Trump International Hotels Management LLC, which paid $188,561 in taxes in China from 2013 to 2015, according to the Times.
In addition to the Chinese account, Trump also has bank accounts in the United Kingdom and Ireland. The president's foreign bank accounts are held under corporate names and as a result don't appear on the president's public financial disclosure forms, the Times reported.
The Hills Naomi Jagoda has more here.
Nearly 1 million people have run out of unemployment payments: analysis: Nearly 1 million people have exhausted their unemployment benefits since March after losing their jobs to the coronavirus pandemic, according to an analysis published Wednesday by a progressive think tank.
The Century Foundation calculated that 933,731 people received their maximum allotment of unemployment insurance payments by Aug. 31, according to Labor Department and Treasury Department data. The number and size of unemployment insurance payments are determined by each state.
The U.S. has gained back nearly 11 million of the jobs lost to the pandemic as of September and the unemployment rate has declined to 7.8 percent. Even so, roughly 25 million people remain on some form of jobless benefits.
I explain here why it marks a troubling sign for the U.S. economy.
GOOD TO KNOW
Read more from the original source:
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