Wallace said Deese and the White House are "really stretching the word beyond all meaning. Construction workers work in Wheeling, Ill. Deese argued that this money will boost the "care infrastructure" in the country. Republicans have slammed Biden's initial proposal as a wish list of Democratic social policies. But the president and his top officials this week said the president is willing to negotiate. Biden appeared to be open to negotiating with Republicans on the coronavirus stimulus bill, but Democrats instead used a process budget reconciliation to get around the Senate filibuster and avoid compromising with the GOP.
The G20 gathering, taking place virtually on the sidelines of the spring meetings of the International Monetary Fund and World Bank, will also give U. Treasury Secretary Janet Yellen a chance to press for a global minimum tax on corporate profits. Pointing to a dramatic divergence between the outlook for the United States and much of the rest of the world, it said the pandemic threatened to reverse years of progress in reducing poverty. IMF Managing Director Kristalina Georgieva told an event with Yellen and World Bank President David Malpass that richer countries should ensure low-income countries received coronavirus vaccinations for the sake of everyone. Expanding the IMF's reserves, or Special Drawing Rights, would boost liquidity for all members, without adding to the debt burden of the some countries already in or facing debt distress, finance officials and economists said. Extending the current freeze on debt service payments by the poorest countries could provide billions of dollars for them to spend on vaccines and stimulus, Malpass told reporters on Monday. More than faith groups and non-profit organizations urged G20 leaders, the White House and the IMF to go beyond the moratorium on debt payments and expected SDR allocation to actually cancel debt and expand debt relief for developing countries, in a letter to be delivered on Wednesday.
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