White House economic adviser Larry Kudlow said on CNN's "State of the Union" Sunday that President Trump may propose a coronavirus stimulus package with an even larger price tag than the $2.2 trillion legislation that House Speaker Nancy Pelosi has offered.

Why it matters: It's highly unlikely that a bill in the neighborhood of $2 trillion, let alone more than that, would win the support of Senate Republicans. Senate Majority Leader Mitch McConnell said Friday that a stimulus deal is "unlikely" before the election.

The state of play: After calling off the negotiations via tweet last week, Trump has now raised his offer to $1.8 trillion, spooked by the market reaction to his move and desperate to inject stimulus into the economy before the election.

  • Pelosi said the proposal was “one step forward, two steps back," accusing the administration of failing to include public health measures in the package that would help "crush the virus."

What they're saying: "Secretary Mnuchin is up to $1.8 trillion. So the bid and the offer is narrowing somewhat between the two sides," Kudlow said.

  • "President Trump actually has always said — I've heard him say it in the Oval — as far as the key elements are concerned, the checks, the unemployment assistance, the small business assistance, we gotta help airlines out — he would go further. He's always said that."
  • "He knows that we need as much power for economic recovery as possible. It's not just recovery in three weeks. It's recovery to the end of the year and beyond in a possible second term. So I think Secretary Mnuchin is a very good negotiator and will be carrying the president's message."

Go deeper: Trump tells House GOP leader he wants a "big deal" on COVID relief

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Poll: Large majorities support Biden over Trump on major policy issues

Illustration: Eniola Odetunde/Axios

As Election Day gets closer, Joe Biden leads President Trump by sizable margins on the major issues of the day, according to a national poll by The New York Times and Siena College.

Why it matters: With only two weeks to go before election day, there's little time for Trump make up the gap between he and Biden on the issues voters care deeply about. These include a new multi-trillion dollar stimulus program, mandatory mask-wearing, and a $2 trillion renewable energy package. Voters are also now evenly split on who will better manage the economy — a blow to Trump as he's led on the issue for much of the campaign.

The top Republicans who aren't voting for Trump in 2020

Photo: Brendan Smialowski/AFP via Getty Images

Maryland Gov. Larry Hogan said last week that he cannot support President Trump's re-election.

Why it matters: Hogan, a moderate governor in a blue state, joins other prominent Republicans who have publicly said they will either not vote for Trump's re-election this November or will back Biden.

Republican senators defend Fauci as Trump escalates attacks

Photo: Roberto Schmidt/AFP via Getty Images

Several Republican senators defended Anthony Fauci after a string of attacks in recent days from President Trump, who has called the government's top infectious-disease expert "a disaster" and claimed without evidence that he's a Democrat.

Why it matters: As polls indicate warning signs for both Trump and down-ballot Republicans, more GOP leaders are urging the president to stop downplaying the pandemic and listen to advice from public health experts. Fauci is one of the most trusted voices in the country on coronavirus issues.