on a new coronavirus stimulus package monday, including mitch mcconnell and treasury secretary stephen mnuchine ministration is bulking at $25 million of do testing and tracing and proposals allocating .oney to the cdc the australian government is set to deliver a new budget that may be the biggest rollout since world war ii as coronavirus drags on the recovery. ofomberg forecasts a deficit $190 million. around 10% of gdp, for the 12 months through next june. the resurgent virus cases have undermined plans to reboot the economy. the u.k. says it may join international allies in's is ending extradition hearings -- extraditiong hearings. the u.s. is reviewing policies. dominic raab will brief parliament on the uk's response to beijing's treatment of uighur muslims. and china is bracing for a new flood emergency as flood levels reached new highs. it is under increasing pressure as rain continues to fall. millions will be forced to leave their homes and 140 are known to have died. one dam is 50 meters above safe levels and more rain is forecast. and reports say kim jong-un met with military leader

. >> treasury secretary stephen mnuchin appears in the small business administration pandemic program. live coverage begins friday at 10:30 a.m. eastern on c-span and us attorney general william barr appears before the judiciary committee oversight hearing on the justice department . on tuesday, july 28 watch live coverage of the ring friday at 10:30 a.m. eastern on c-span read watch anytime on c-span.org or listen on the go with the c-span radio app. >> a number of economists discussed the long-term effects of the coronavirus pandemic. this discussion posted bythe brookings institution was held by videoconference . >> good morning, good afternoon and good evening depending where you are you thank you for joining us for this virtual event on the post covid economic output. welcome to the vice president of the global economy and development program at brookings . the global economy is sharp, and it's unprecedented in its depth. a pandemic response is

still haven't seen any of those bills yet and it's not clear when we will treasury secretary stephen mnuchin was back on capitol hill to continue the negotiations with senate majority leader mitch mcconnell. he told cnbc he's made one concession to senate republicans and that's abandoning the administration's request for a payroll tax cut. >> one of the issues i think about the payroll tax cut is people get that money over time. the president's preference is to make sure we send out direct payments quickly so that in august people get more money >> $16 billion in new funding for testing and instead of that $600 boost to unemployment, they are considering a 70% wage replacement instead. you can expect that to be a point of contention not just amongst republicans but also amongst democrats. nancy pelosi saying she's willing to go to the table to preserve that $600 >> it sounds like the republicans have come so some sort of grudging consensus on the shape of this bill the proof is in the pudding. the first step is for republicans to put out their proposal right now we're looking at a series of

. >> kelly, at this hour the treasury secretary stephen mnuchin and chief of staff are in the process of wrapping up a luncheon with all republican senators where they are trying to present so far. it could include about $105 billion for schools. direct checks. incentives for large and small businesses retain testing. the white house is still pushing for a payroll tax holiday. that remains unpopular on capitol hill senate majority leader mitch mcconnell on the senate floor said the u.s. economy doesn't need the cares act but it's not ready to go back normal. >> our country is in a complex middle ground between those two things we can't go back to april. we can't snap our fingers and finish the vaccine overnight we need to carve out a new normal >> reporter: democrats also support stimulusr cast castle, delaware talking about this plan. it would be paid for by increangmoving other tax loopholes. tyler and kelly. >> what's the time line on this? when do they hope to get it done >> reporter: well, it depends on how soon they can reach a deal we have about two to three weeks between now a

treasury secretary stephen mnuchin explaining how the federal government will help one of the hardest hit industries. >> there are certain requirements in the psp. there are different requirements in the loan agreements this was all negotiated with congress and again, we have seened loan agreements in many cases, i think many of the airlines aren't going to use them and will finance them in the capital markets. we wanted to make sure the airlines had backstop so they had liquidity. that's something we have been focused on between the payroll support and the loans we have created a lot of stability for that industry >> for more on the airlines, let's bring in phil. the treasury secretary usage of the term backstop implies the loans will never will tapped >> they have until the end of september to tap this latest round of loans delta is one airline people are paying attention to. he says, we're not doing that great in terms of what we expected in july still down 30% in terms of flight schedule compared to last year delta says it's august and it's july schedule, it's being hurt by two th

this comes as speaker pelosi, stephen mnuchin, chuck schumer met late into the evening to try to reach what the white house was proposing a stopgap deal to try to keep the unemployment benefits and eviction bans from expiring today as they otherwise would. democrats rejected that overture and today belpelosi says they ae standing their ground. >> we want to help america's working families and they want to give tax cuts to the biggest richest people we don't have shared values. that's just the way it is. it's not bickering it's standing our ground >> reporter: democrats have suggested they would accept nothing less than the $3 trillion heroes act they passed in may today mark meadows said wa they are asking for now is more >> what we found from our democrat negotiators is that they are bumping the price higher than the very bill that they passed out of the house several weeks ago. >> reporter: both sides continue to dig in their heels. president trump was asked exactly what he has proposed and what he has put on the table for democrats. he said they know what i want. kelly. >> speaking

. >>> treasury secretary stephen mnuchin appears before the house small business committee on oversight of the small business administration and department of treasury pandemic program. live coverage begins friday at 10:30 a.m. eastern on c-span. later in the month, u.s. attorney general william barr appears before the house judiciary general oversight on the justice department. tuesday, july 28th. mnuchin coverage friday on c-span. watch anytime on c-span.org, or listen on the go with the c-span radio app. >>> general james holmes, commander of air combat command, discussed the future of the u.s. air force during a virtual conversation with the mitchell institute for aerospace studies. this is an hour. >>> good afternoon, everyone. warm welcome to all of you. i'm dave deptula, dean of the institute for aerospace studies and would like that thank air combat command general commander james holmes for joining us today. after so many years of service and in key positions throughout our air force, needs little introduction. simply summarize by saying he's excelled in operational, staff and

economic recovery, according to jerome powell, who gave testimony to house lawmakers, alongside stephen mnuchininistration wants to pass another round of fiscal stimulus by the end of july. global news 24 hours a day, on-air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. here in the u.k., boris johnson has set out his vision for dragging the british economy out of what may be its deepest recession in 300 years with a program to spend billions of pounds on infrastructure to build back to prosperity. will he be able to rally his party around policies that may break with traditional conservatives? what does business make of the proposals? joining us now, adam marshall, british chambers of commerce director general. good to speak to you. we have your survey out about the sentiment of businesses. i wanted to start with your reaction. there was not much mention of it being like a new deal for the u.k. economy. certainly, the press coverage ahead of the speech suggested we might get those references. may be the size of it pales in contrast

stephen mnuchin said he wants it done by the end of the month.may bleed over into the first week of august. after that, the senate and the house are both scheduled to be out of town on august. after that, the election campaign is taking a lot of attention. it probably will take all three weeks. they have to get something hammered out. they have got to resolve the differences among republicans, and then they face a pretty unified front among democrats, who have already proposed their own package. to want toing extract quite a bit, some concessions from the republicans, and really, the pressure will be on the white house and the republican senate to make it work, because trump himself has been promising that by the third quarter, the economy is going to take off, but there is a lot of signs that that is not really going to be a very good prediction at this point. >> we are getting breaking news crossing the bloomberg that the house has blocked the use of k on work devices. are you really making tik tok videos on your work phone? that is something u

extension to make sure they get stopgap till -- get a stopgap bill, which was summed up also by stephen mnuchin. now, we are very far apart. the president and i have discussed a short-term extension . [inaudible] kathleen: to be a little more specific to what mnuchin said, the federal jobless benefits are running out, the eviction protection is running out, congress is leaving for his longest recess at the end of next week. all of this is putting pressure on them to do something. nancy pelosi continues to say, item one a stopgap bill. -- i do not want a stopgap bill. she says that is piecemeal and that kind of approach does not work. my, once a conference of -- nts a comprehensive plan in place. he said things around here can happen at the last minute, so he is hopeful that things can get done in the next week. the republican majority whip, john kuhn, says they will look for an alternative if needed, although he did not tell the porters what that alternative might be. the ideal thing is if they can somehow have a miracle, if the republicans and democrats could compromise, number one, on the une

. >>> treasury secretary stephen mnuchin appears before the house small business committee on oversightf the small business administration and department of treasury pandemic program. live coverage begins friday at 10:30 a.m. eastern on c-span. later in the month, u.s. attorney general william barr appears before the house judiciary general oversight on the justice department. tuesday, july 28th. mnuchin coverage friday on c-span. watch anytime on c-span.org, or listen on the go with the c-span radio app.

mnuchin. i think -- >> stephen: oh, really?la, on china, on russia, on turkey, on north korea. >> stephen: you call him something unforgivable. you say he's basically a democrat. >> that's, i think, very clear. >> stephen: what's worse, him or giuliani, who you called a hand grenade? >> well, look, rudy is not part of the government, and that is-- that is-- that is an apples-to- oranges comparison. but i think a problem that the president was continually relying on people who were not part of his administration, and it was-- it was a functioning of governmental authority outside of the normal channels. >> stephen: ambassador we have to take a quick break. stick around everybody, when we come back, i'll ask the ambassador about ukraine, impeachment and why he never testified. stick around. ♪ ♪ ♪ capital one knows life doesn't update you about your credit card. so meet eno...the capital one assistant that looks out for charges that might surprise you and helps you fix them. what's in your wallet? it's like walking into the chocol

in a letter to the treasury secretary, stephen my knew chin -- steven mnuchin, the u.s.de representative, robert lighthizer, and the chinese vice premiere, 40 u.s. business groups are now calling on the trump administration and xi jinping to, quote, redouble efforts to implement all aspects and agreement, end quote. that's not only arrogant, it's invacuous, it is predictable from the chamber of horrors, chamber of commerce executive vice president myron brilliant desperately pleading, quote: the business community wants to prevent this deal from becoming a casualty of the rising tensions in the bilateral relationship. end quote. as if the business community somehow stands in some superior promitory overlooking the american concerns and interests of the united states. brilliant concerned that president trump is serious when he threatened to kill the phase one trade agreement and to reimplement tariffs if china doesn't uphold its purchasing commitment. according to the peterson institute of economics, china's purchases under the agreement are far below their year to date t