Nancy Pelosi says progress is being made on more US stimulus, and tells airlines ‘don’t fire people’

OSTN Staff

Nancy Pelosi
  • House Speaker Nancy Pelosi told CBS News on Sunday that lawmakers are “making progress” on more US stimulus, and said US airlines should hold off on job cuts.
  • Pelosi told airline executives: “don’t fire people. You know that relief is on the way.” 
  • The Democrat said airline workers face a tougher battle than employees in other industries because once they lose their job, it takes a long time for them to be recertified.
  • Her comments came after President Trump tweeted about the economy from Walter Reed National Military Center on Sunday, pushing for the passage of a stimulus plan that has been stalled for months.
  • Visit Business Insider’s homepage for more stories.

House Speaker Nancy Pelosi said on Sunday progress is being made on the government’s next coronavirus relief package, and told executives in the US airline industry to hold off on job cuts.

“We’re making progress,” Pelosi told CBS News, adding that she hoped Republicans would “agree on what we need to do to crush the virus.”

The California Democrat said she issued a public statement to airline executives, telling them to hold off on job cuts, as an agreement for relief is imminent.

Pelosi told the airlines “don’t fire people. You know that relief is on the way.”

She pointed out that when workers in the airline industry are fired, unlike other industries, it takes months, or years, for them to be recertified for security clearance.

Read More: MORGAN STANLEY: Buy these 16 stocks to cheaply invest in next-generation technologies and reap the future profits they generate

In her statement issued on October 2, Pelosi said Congress would either enact House Transportation committee chairman Peter DeFazio’s stand-alone legislation that assists airlines, or secure relief in the form of a negotiated bill. She said both courses of action would extend the Payroll Support Program by another six months. 

The federal Payroll Support Program (PSP) passed by Congress under the CARES Act in March expired on October 1.

Airlines including American and United Airlines said they would begin furloughing tens of thousands of employees as Congress failed to reach a deal last week on a COVID-19 relief bill.

Pelosi’s comments came after President Trump provided an update on his health from Walter Reed National Military Centre on Saturday. He also tweeted about the economy, calling for both chambers of Congress to pass a stimulus plan that has been stalled for months.

“OUR GREAT USA WANTS & NEEDS STIMULUS,” he said in the tweet. “WORK TOGETHER AND GET IT DONE. Thank you!”

Read More: A Wall Street expert says a trend with a 30-year track record of wrecking expensive stocks is flashing for big tech — and warns investors to brace for a turnaround within months

Read the original article on Business Insider

Powered by WPeMatico

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.