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Speaker Nancy Pelosi (D-Calif.) told CNN on Tuesday she would "absolutely" be willing to forgo the House's August recess to reach a deal for another relief package to help the country battle the health and economic crises caused by the coronavirus.

The big picture: Pelosi indicated the package would earmark money for coronavirus testing and contact tracing, as well as assistance for state and local governments whose budgets are in dire financial straits due to revenue shortfalls caused by the recession.

What she's saying:

"Oh we absolutely have to. We also have to come to an agreement. The timetable is the timetable of the American people needing their unemployment insurance, their direct payments, their assistance for rent and mortgage foreclosure, forbearance in terms of that. And we need it for states and localities to be able to pay their employees who are meeting the needs of their constituents. And you know what, we need it to open the economy by testing, tracing, treating, isolating."

The other side: Senate Majority Leader Mitch McConnell (R-Ky.) said Monday that Senate Republicans will open negotiations with Democrats once they finish their own proposal for the next round of stimulus next week.

  • "We shouldn't lightly add more to the national debt, but I'm predicting that we will have one more rescue package, which we'll begin to debate and discuss next week," McConnell said at a press conference.

Go deeper: PPP was not enough for small businesses

Go deeper

Oct 20, 2020 - Politics & Policy

McConnell urges White House not to strike stimulus deal before election

Senate Majority Leader Mitch McConnell. Photo: Stefani Reynolds/Getty Images

Senate Majority Leader Mitch McConnell (R-Ky.) has urged White House negotiators not to cut a deal with Democrats on new coronavirus stimulus before the election.

Driving the news: McConnell informed Senate Republicans of the move at a closed-door lunch on Tuesday, two people familiar with his remarks tell Axios. McConnell's remarks were first reported by the Washington Post.

Dion Rabouin, author of Markets
Oct 21, 2020 - Economy & Business

Government forbearance programs are keeping homeowners afloat

Reproduced from National Multifamily Housing Council; Chart: Axios Visuals

While headlines caution that 6 million people fell behind on their rent or mortgages last month, that number includes many who are supported by government forbearance programs, meaning they face no penalty for missing payments.

Zoom in: The Mortgage Bankers Association found that 3.4 million mortgage payments were missed in September, but the group's own data also show 3.4 million homeowners were enrolled in federal forbearance programs that month.

Senate Dems will boycott vote to advance Judge Amy Coney Barrett

Supreme Court nominee Amy Coney Barrett. Photo: Stefani Reynolds/Getty Images

Senate Democrats are expected to boycott Supreme Court nominee Amy Coney Barrett’s Thursday Judiciary Committee vote, Senate Majority Leader Chuck Schumer announced on Wednesday.

The big picture: The boycott will not prevent Barrett from moving forward in the nomination process, but the largely symbolic display is a symptom of Democrats and Republicans’ clashing over President Trump’s Supreme Court pick.