- Senate Minority Leader Chuck Schumer told reporters late Saturday night that Congress could vote on a 900 900 stimulus package as early as Sunday.
- Democrats and Republicans removed a major hurdle Saturday night when they reached a compromise on the Federal Reserve’s emergency financing authority, a key point in recent days.
- Congress on Friday approved a two-day fund extension to avoid government closures and buy more time for negotiations.
- The package is expected to provide 600 600 stimulus testing, 300 federal unemployment benefits, funding for vaccine distribution and assistance to small businesses.
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Senate Minority Leader Chuck Schumer indicated Saturday evening that negotiators were making progress and that Congress would be up early the next day. Could vote on a 900 900 billion stimulus package.
“If things continue this way and nothing happens, we’ll be able to vote tomorrow,” said a New York Democrat.
The Washington Post reports that Democratic leaders have asked Republican Sen. Pennsylvania about the Federal Reserve’s emergency lending powers. Patrick reconciled with Tommy. A Tommy spokesperson confirmed the business to Insider.
Rumi seeks to permanently end a series of emergency financing programs aiding states and municipalities as well as medium-sized businesses ending on December 31, with their expiration dates under the epidemic aid package passed in March. He also demanded the return of the Fed’s ability to kickstart emergency programs. It has sparked fierce clashes between Republicans and Democrats on Capitol Hill over the past few days, which intensified on Saturday.
Pennsylvania Republicans argue they do not want the central bank to step out of its role as a last resort. Democrats hailed it as a move to curtail President-elect Joe Biden’s economic options and limit the Fed’s overall lending during the downturn.
Tommy spokesman Steve Kelly told Business Insider in a statement that Senate Republicans have achieved their main objectives, including ending emergency financing programs. He said they could not be “duplicated” without congressional approval.
He said the agreement would maintain the independence of the Fed and prevent Democrats from hijacking these programs for political and social policy purposes.
Democrats and Republicans are likely to develop back-to-back votes in the House and Senate on Sunday afternoon if they resolve other differences, although the Fed has created the biggest hurdle. The House is set to begin any vote as early as 1 p.m.
Speaking to reporters on Capitol Hill late Saturday night, Schumer said Republicans and Democrats are getting closer to a deal.
Congress approved a two-day fund extension on Friday to avoid a shutdown by the government and buy more time for negotiations. It sets a very narrow margin of error for legislators, although they are also trying to pass a ચના 1.4 trillion spending package.
Congress leaders aim to merge the two, and they may only have hours to review spending legislation that exceeds tr 2 trillion. The package is expected to include $ 600 stimulus testing, $ 300 federal unemployment benefits, funding for vaccine distribution and small business assistance.
