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Original title: Pelosi and McConnell resume negotiations, the latter said: “There is hope for a deal within a year!” Gold prices are expected to continue to rally and reach the 55-day moving average.
On December 3 (Thursday), the Speaker of the United States House of Representatives, Nancy Pelosi, and the leader of the Senate Majority, Mitch McConnell, resumed negotiations on the aid package. Currently, Congress is working hard to continue negotiations to reach an epidemic stimulus agreement and avoid suspension of the government. McConnell hinted that the two sides can reach a compromise and that there is hope for a stimulus deal before the end of the year.
Pelosi resumed negotiations with McConnell, who hinted that a compromise could be reached.
Pelosi spokesman Drew Hammill said in a tweet that Pelosi and McConnell discussed their “commitment to complete comprehensive spending and epidemic relief as soon as possible.” They have signaled that they hope to resolve these two thorny issues before the last day that government funds expire on December 11.
The United States hopes to break the stagnation in the economic and medical system dragged down by the epidemic. The call between Pelosi and McConnell is considered the biggest effort in recent months. Before the November 3 elections, Pelosi and Finance Minister Mnuchin carried out a series of intense aid negotiations, but have yet to reach an agreement.
McConnell said Thursday that he had a nice conversation with House Speaker Pelosi. McConnell has already seen “signs of hope” for a stimulus deal before the end of the year.
He said: “Compromise is around the corner. We know where our consensus is and we can do this.”
It’s worth noting that if Congress fails to act, approximately 12 million Americans may lose unemployment benefits after Christmas.
Pelosi and Senate Minority Leader Schumer cut the Democratic requirements for the stimulus scale on Dec. 2 and are ready to accept a bipartisan $ 908 billion proposal as a starting point for negotiations with McConnell. This is far lower than the Democrats’ previous asking price of more than $ 2 trillion.
Under the $ 908 billion economic stimulus package announced by Democratic and Republican senators on Tuesday, small businesses will receive $ 288 billion in capital injection, including the Corporate Payroll Protection Program (PPP) project, and the state and local governments will receive 160,000 million. The rescue of the dollar. $ 180 billion will be used to extend an additional $ 300 weekly unemployment benefit subsidy for epidemic prevention for a period of four months. In addition, the stimulus plan also includes: transportation – US $ 45 billion; vaccine development, distribution and testing: US $ 16 billion; Relief Fund for Medical Personnel: US $ 35 billion; education: $ 82 billion; student loans: US $ 4 billion; Housing assistance: $ 25 billion; Nutrition / Agriculture: $ 26 billion; United States Postal Service: $ 10 billion; Child care subsidies: $ 10 billion; Broadband: $ 10 billion.
However, McConnell, the Senate Majority Leader, had previously rejected the proposal. He proposed his plan of about $ 500 billion. His plan includes a “wage protection plan,” education funds, and vaccine distribution. However, the plan also includes the suspension of litigation related to the epidemic. This was opposed by the leaders of the Democratic Party. Democrats believe that if states are willing, they can give each state time to formulate its own relevant laws.
The epidemic continues, the United States is eager to reach a stimulus agreement to support the economy
The rise in new coronary pneumonia infections and record hospitalizations have prompted new economic constraints and concerns about a weak labor market. At the same time, protections for unemployed Americans, renters, and federal student loan borrowers implemented earlier this year will expire at the end of December.
The United States Congress does not have enough time to provide further assistance. Leaders have already hinted that they can add relief measures to the government funding bill.
Early Thursday, Senator Dick Durbin of Illinois called for a vote on the $ 908 billion rescue package.
In an interview, he said: “We do not want to face the situation in which certain aid expires at the end of December. We must move forward and wait for our bill to be approved.”
Durbin and President-elect Biden said the proposal was a down payment for an imperfect stimulus plan, as Democrats pushed for a comprehensive aid package. Congressional leaders admitted that after Biden takes office on January 20, they may consider more relief measures.
Some Republican senators have little or no support for the new stimulus spending. They argue that the US economy has improved enough to support Americans until a large portion of the population is vaccinated. Other Republican lawmakers said the federal government should provide more support. More than 20 million Americans currently receive some form of unemployment benefits, and food banks across the country face unprecedented demand.
However, there are also different voices within the Republican Party. Rep. Tom Reed, Republican of New York, called the request for $ 908 billion in aid “reasonable.”
Huitong.com recalls,
As investors expected a breakthrough in negotiating the epidemic assistance plan, gold prices rebounded for the fourth consecutive business day on December 4, reaching a high of $ 1,844.78. With the resumption of negotiations between Pelosi and McConnell, and McConnell hinted that there is hope of reaching a stimulus law during the year, the price of gold is expected to continue to rally, further challenging the 21-day moving average of $ 1,850 , 32 and the 55-day moving average of $ 1,879.8.
11:30 am on December 4 Beijing time,
Cash gold
Quoted at $ 1,842.28 an ounce.
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