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U.S. Congress Set to Vote on $900 Billion Relief Package, but Fights Linger

December 21, 2020 by Forex Winner Leave a Comment

U.S. Congress Set to Vote on $900 Billion Relief Package, but Fights Linger

The U.S. House and Senate will vote on Monday on a $900 billion pandemic relief package alongside a $1.4 trillion measure for government funding, reports Bloomberg. The relief and funding end days of intense negotiations amidst possible rifts with the Fed.

  • On Sunday, the House and Senate passed a one-day continuing resolution to keep the government open through Monday at midnight, the third move in recent weeks.
  • The Democratic head of the House Financial Services Committee said Congress would revisit a portion of the pandemic relief bill dealing with the Fed’s emergency lending if the party gains control of the Senate.
  • Treasury Secretary Steven Mnuchin said on Monday that $600 stimulus checks could start going out to the Americans as soon as next week.
  • The Democrats said more aid is needed for the economy despite both parties having agreed on many of their priorities in the relief package bill.
  • Senate Democratic leader Chuck Schumer said he expects a “more robust” bill after President-elect Joe Biden takes office on Jan. 20.
  • Meanwhile, President Donald Trump has threatened to veto a defense bill this week because it would start renaming military bases after Confederates.
  • Trump’s threats come as Virginia lawmakers announced on Monday a statue of Confederate leader Robert E. Lee has been removed from the U.S. Capitol since it is a symbol of racist and divisive history.

U.S. stocks are currently declining. SPY is down 0.97%, QQQ: NASDAQ is down 0.91%

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Filed Under: Forex News Tagged With: NASDAQ, QQQ, SPY

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