Trump Says He Would Increase Stimulus Offer to Reach Deal With House Democrats: Report

There's still a chance a stimulus package can be passed before the presidential election, but those chances are fading, said the U.S. president.

AccessTimeIconOct 15, 2020 at 3:14 p.m. UTC
Updated Sep 14, 2021 at 10:10 a.m. UTC
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

U.S. President Donald Trump said Thursday he's prepared to increase his $1.8 trillion stimulus offer if it helps reach a deal with the Democrat-led House of Representatives, Reuters reported.

  • House Democrats have been seeking a $2.2 trillion package.
  • Trump said Thursday on Fox Business Network there's still a chance a stimulus package can be passed before the presidential election, but those chances are fading, Reuters reported.
  • The president's comments may rankle some in the Republican-led Senate who had objected to the size of Trump's current offer.
  • Why this matters to crypto: Bitcoin (BTC) prices have been buoyed this year as investors bet that trillions of dollars of government and central bank spending around the world in response to the coronavirus-induced economic slowdown will inevitably result in inflation, and therefore be positive for the cryptocurrency.
  • As such, if a stimulus deal is reached, BTC may rise further.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.