Mnuchin vows ‘we’re going to get this done’ after coronavirus bill blocked

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Reaction from Peter Morici, business professor at the University of Maryland and former chief economist for the U.S. International Trade Commission.

Treasury Secretary Steven Mnuchin on Monday vowed that the Trump administration and lawmakers on Capitol Hill are “going to get this done,” after a massive coronavirus response bill was blocked over the weekend.

Mnuchin, talking to reporters on Monday after meeting with Senate Minority Leader Chuck Schumer, D-N.Y., seemed confident that an agreement would be reached on the more than $1 trillion stimulus package by the end of the day.

SENATE REPUBLICANS STUCK IN QUARANTINE AS CHAOS UNFOLDS OVER CORONAVIRUS BILL

“We knocked off a bunch of things on the list already and we’re closing out issues,” Mnuchin said.

“We’re going to get this done today,” Mnuchin continued. “Everybody is working very hard so we look forward to a big vote today.”

When asked when he expected to have a final agreement with both Senate Republicans and Democrats, Mnuchin said: “As fast as we can.”

Mnuchin’s comments come after the Senate failed to move forward on the third part of legislation that would provide economic relief to American families and businesses amid the coronavirus outbreak, as Democrats opposed the plan, and several top Republicans remained in self-quarantine.

On Sunday, Sen. Rand Paul, R-Ky., announced he had tested positive for COVID-19, sending Sens. Mike Lee, R-Utah, and Mitt Romney, R-Utah, into self-quarantine after interacting with Paul throughout the weekend.

Paul, Lee, and Romney joined Sens. Rick Scott, R-Fla., and Cory Gardner, R-Co., in self-quarantine. Scott, out of an abundance of caution, put himself in quarantine after meeting with Brazilian President Jair Bolsonaro. A member of Bolsonaro’s staff tested positive for the virus. Gardner went into self-quarantine on March 17 after interacting with a constituent who, also, later tested positive.

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Under normal circumstances, the Senate breakdown is 53 Republicans and 47 senators who caucus with the Democrats. But with five Republican senators quarantined, the GOP barely has a majority in the upper chamber, at 48 Republican senators to 47 Democratic senators.

Senate Majority Leader Mitch McConnell, R-Ky., is hoping to try again Monday to advance the legislation.

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THESE US SENATORS ARE IN QUARANTINE OVER CORONAVIRUS THREAT

Many Democrats had complained that the draft aid package did not go far enough to provide health care and unemployment aid for Americans, and failed to put restraints on a proposed $500 billion "slush fund" for corporations, saying the ban on corporate stock buy-backs are weak and the limits on executive pay would last only two years.

Officials put the price tag of the rescue package at nearly $1.4 trillion and said that with other measures from the Federal Reserve it could pump $2 trillion into the U.S. economy.

The draft legislation would provide payments of up to $1,200 per person. They would be phased down at adjusted gross income thresholds of $75,000 for individuals and $150,000 per couple. Additionally, there would be $500 payments for each child.

The amount is reduced to zero for single taxpayers with incomes exceeding $99,000 and $198,000 for joint filers.

Central to the package is as much as $350 billion for small businesses to keep making payroll while workers are forced to stay home, and billions in loans to airlines and other industries.

On Sunday, House Speaker Nancy Pelosi, D-Calif., upon returning to Washington, D.C. from recess, said there was no bipartisan agreement on the stimulus package, and said House Democrats would soon roll out their own coronavirus legislation.

"It's on the Senate side now because that's their deadline for a vote, but we'll be introducing our own bill and hopefully it'll be compatible with what they discussed on the Senate," Pelosi said Sunday.

On Monday, Mnuchin said the administration had not yet spoken with Pelosi.

Fox News' Chad Pergram and The Associated Press contributed to this report.