House Democrats craft a new $2.4T stimulus bill; Pres. Trump again declines he will accept election results

Yahoo Finance’s Jessica Smith joins the On the Move panel to discuss the latest on a Stimulus Bill deal as well as Pres. Trump’s stance on transfer of power.

Video Transcript

- Let's talk first about that new stimulus proposal that the House Democrats have come out with. It is a bit smaller than their prior proposal, but it perhaps has no more chance of getting through. Jessica Smith has the details on that for us. Jess?

JESSICA SMITH: Hey, Julie. Yeah, Speaker Pelosi has instructed her committee chairman to come up with a scaled-back version of another stimulus bill. We expect the price tag to be somewhere between $2.2 and $2.4 trillion. And it should have many of the provisions that we saw in the Heroes Act, but the scale and the timing of those provisions would be changed. You'll remember the Heroes Act was a $3.4 trillion bill. Some of those provisions could include help for small businesses, state and local funding, enhanced unemployment benefits. And Politico, which first reported this news, says that there will also be help for the airlines and for restaurants included in this legislation.

This comes after Speaker Pelosi has really been facing a lot of pressure from moderate Democrats, vulnerable Democrats who want her to put a bill on the floor before the election. Before they are set to go back to their home districts and campaign, they want to do something on stimulus here. This also comes after Treasury Secretary Steven Mnuchin said that he and Pelosi agreed to restart talks. We will see what happens, what comes of those talks. It could be a little bit. We haven't seen any direct talks between those two quite yet. Julie?

- Jessica, you mentioned in the election and trying to get the stimulus bill before then. Well, we once again had some comment from President Trump about a peaceful transfer of power after the election. He once again refused to commit to that, and once again talked about the potential for some kind of election fraud with the mail-in ballots.

JESSICA SMITH: Yeah, he continues to raise questions about whether or not he will actually accept the revolt-- results of the election in November. A reporter asked him yesterday if, to him, the results of the election are only legitimate if he wins. And here's what President Trump had to say.

DONALD TRUMP: So we have to be very careful with the ballots. The ballots, that's a whole big scam. We want to make sure the election is honest, and I'm not sure that it can be. I don't-- I don't know that it can be with this whole situation, unsolicited ballots.

JESSICA SMITH: Trump taking the chance there to attack mail-in voting. And just yesterday, or just the day before, the president did not commit to a peaceful transition if he were to lose the election. Republicans did push back on that, but they didn't go after him directly. They didn't mention the president or criticize the president directly, for the most part. They just said that there will be a peaceful transition. Democrats, on the other hand, have been blasting the president over this, saying that he is trying to undermine the election. Julie?

- Jess, thank you.