Coronavirus

House OKs Biden Bill Intact

Update 512 — House OKs Biden Bill Intact$1.9 Trillion: What Will be Its Legacy, Impact? President Biden entered office seven weeks ago, promising a $1.9 trillion federal pandemic response to address unabated individual, family, and small business needs. He also promised stimulus aimed at an economy suffering 10 million jobs lost with millions more slipping …

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Regular Disorder on the Hill

Update 509 — Regular Disorder on the Hill:House to Vote on Wage Hike Nixed in Senate Late last night, the Senate parliamentarian ruled the Democrats’ bill to raise the minimum wage to $15/hour ineligible for the $1.9 trillion reconciliation package. The House is expected to vote on the package tonight, with the wage hike, adopt …

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Recovery Still “Uncertain”

Update 508 — Recovery Still “Uncertain,”Powell Reminds Congress, Citing Jobs Lag In his first appearance before the 117th Congress, Federal Reserve Chair Jerome Powell presented the semi-annual Monetary Policy Report in hearings before Senate Banking yesterday and House Financial Services today.  Powell depicted an economy still suffering from the pandemic and warned of risk of …

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Recovery Robust or Go-Bust?

Update 504 – Recovery Robust or Go-Bust?What’s at Stake in $1.9 Tr. Covid Relief Bill On Wednesday, the House passed a budget resolution for fiscal year 2021, and this morning, following an all-night ‘vote-a-rama,’ the Senate advanced the resolution. These are the first steps in the reconciliation process allowing Democrats to pass President Biden’s $1.9 …

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Democrats’ Trifecta

Update 503 – Democrats’ Trifecta:The Healing Power of Reconciliation  With a Democratic trifecta of now-unified majorities in both chambers of Congress and control of the White House, the new administration has political math on its side in efforts to deliver legislative results and needed COVID relief for weary and sceptical Americans. Democrats will rely on …

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Biden’s $1.9 Tr. Rescue Plan

Update 499 – Biden’s $1.9 Tr. Rescue Plan:Sound in Scope and Scale, but Ambitious Last night, President-Elect Joe Biden announced the details of his $1.9 trillion ‘American Rescue Plan’ — an appropriately constructed and comprehensive rescue package designed to meet the needs of the moment and launch a robust recovery. An ambitious plan, it will …

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2020’s Unfinished Business

Update 496 – 2020’s Unfinished Business:Congress to Provide Interim Relief, Finally Nine months after the last Covid relief bill passed, with the epidemic spiking and the economic recovery stagnating, Congress is facing pleas to act from all sides. Today, the $900 billion compromise relief package and the $1.4 trillion omnibus spending bill are the two …

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Countdown to Shutdown

Update 495 — Countdown to Shutdown:State of Budget Talks as the Clock Tocks  Developments this afternoon put the question to the President. With hundreds of thousands of new COVID cases a day, the nation has seen a sharp reversal in macroeconomic circumstances (see initial jobless claims). This doesn’t seem the time to shut down the …

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$908 Bn. COVID Talks Stuck

Update 494 — $908 Bn. COVID Talks Stuck:McConnell Eyes State/Local Aid, Sees Blue The promising progress in negotiations on a compromise COVID relief bill has hit a predictable but ironic snag. In a reversal of GOP Federalism 101, Senate Majority Leader Mitch McConnell supports federal COVID assistance but not state and local aid for the …

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