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WASHINGTON — House Speaker Nancy Pelosi, D-Calif., said Friday that there is "momentum" on Capitol Hill to reach a deal on coronavirus relief, further optimism that legislation could be approved before the end of the year. The deal would provide for augmented unemployment payments through March but would not send another round of checks to the nation. That means lawmakers negotiating another round of aid are working on a tight deadline after months of deadlocked negotiations. Pelosi and Senate Minority Leader Chuck Schumer, D-N.Y., voiced their support for a $908 billion bipartisan proposal presented by members of the Senate and House on Tuesday. "We had some not to good news on the jobs front that further necessitates our taking action to crush the virus," Pelosi said.
Persons: Nancy Pelosi, Pelosi, Mitch McConnell, Chuck Schumer, McConnell, Joe Biden Organizations: WASHINGTON, Republicans, House, Democrats Locations: Ky
President-elect Joe Biden has repeatedly vowed to make LGBTQ rights a priority in his administration. In November, Carlos Elizondo, who is gay and was Biden’s social secretary when Biden was vice president, was named White House social secretary. Biden has also named LGBTQ personnel to his transition team, including the agency review teams, responsible for scrutinizing federal agencies before he takes office. Annise Parker, LGBTQ Victory FundThroughout the campaign, Biden promised to move swiftly to repeal President Donald Trump’s ban on transgender service members. Gonzales is hopeful Biden will break that barrier and says there’s a strong surplus of contenders.
Persons: Joe Biden, There’s, Harris, elect's, , Karine Jean, Pierre, Kamala Harris, Pili, Sen, Chuck Schumer, Tobar, Biden, Carlos Elizondo, , intersectionality ’ Ruben Gonzalez, Gary Gershoff, Gonzales, Trump, ” Raffi Freedman, Gurspan, Barack Obama, Freedman, ” Chai, Pamela Karlan, Dave Noble, Shawn Skelly, Annise Parker, Donald Trump’s, He’s, Joe Biden’s, ” Annise Parker, Ruben Gonzales ’, Clinton, David Mixner, ” Gonzales, Obama, , Richard Grenell, there’s, Pete Buttegieg, Denise Juneau, Denise, Tammy Baldwin, Mark Takano, Rachel Levine, “ Dr, Levine Organizations: Senate, Supreme, Biden, White, LGBTQ Victory Institute, NBC News, Small Business Administration, Employment, Windsor, Defense, of Justice, Federal, Commission, Civil Rights, Obama, NASA, of National Drug Control, Navy, Department of Transportation, Department of Defense, Fund, Republican, Victory Fund, Victory, Initiative, Presidential, Biden White, United Nations, Human Services, Veterans Affairs, Twitter, Facebook Locations: America, United States, Montana, Juneau, American, U.S, D, Pennsylvania
Pelosi cites momentum on coronavirus relief bill talks
  + stars: | 2020-12-04 | by ( Reuters Staff | ) www.reuters.com sentiment -0.53   time to read: +1 min
House Speaker Nancy Pelosi (D-CA) speaks to reporters during her weekly news conference at the U.S.Capitol in Washington, U.S., December 4, 2020. REUTERS/Tom BrennerWASHINGTON (Reuters) - U.S. House Speaker Nancy Pelosi said on Friday there was momentum behind talks on a coronavirus relief bill and that a bipartisan COVID-19 proposal could be the basis for relief negotiations. There is momentum,” Pelosi told reporters at a press conference. But it is unclear whether McConnell would agree to such a large package after pushing to keep COVID-19 relief spending near the $500 billion mark. The bipartisan package is also smaller than the $2.2 trillion deal that Pelosi and Senate Democratic leader Chuck Schumer have sought.
Persons: Nancy Pelosi, Tom Brenner WASHINGTON, ” Pelosi, Mitch McConnell, McConnell, Pelosi, Chuck Schumer, Organizations: REUTERS, ., Republicans, Democratic Locations: Washington , U.S
Global stocks rose on Friday as fresh talks on US coronavirus federal relief lifted investor sentiment. Senate Majority Leader Mitch McConnell was said to be "heartened" that Democrats are stepping away from the $2.4 trillion proposal they made in October. Oil prices hit their highest since the pandemic began after the OPEC+ group agreed to increase output only gradually from January. Both leaders embraced a $908 billion coronavirus relief plan on Wednesday. Asian markets were mostly muted as China's Shanghai Composite rose 0.07%, Hong Kong's Hang Seng rose 0.4%, and Japan's Nikkei slipped 0.2%.
Persons: Chuck Schumer, Nancy Pelosi, Mitch McConnell, McConnell, they're, Dow Jones, Read, Mark Haefele, Biden, Germany's DAX Organizations: Republican, New York Times, Futures, Nasdaq, Deutsche Bank, Democrats, UBS Global Wealth Management, Pfizer, Brent, West Texas, of, Petroleum, Japan's Nikkei Locations: OPEC, China, Saudi Arabia, Russia, Kazakhstan, Oman, Shanghai
President Trump does not back the $908 billion COVID-19 stimulus bill, a compromise measure that is gaining momentum with GOP senators as well as leading Democrats. President Donald Trump does not support the $908 billion compromise COVID-19 stimulus bill, presenting a significant barrier event as it gains momentum with lawmakers. Mark Wilson/Getty ImagesA GOP bill very similar to McConnell's more recent proposal has already failed to pass twice this year. At $908 billion, the bipartisan bill exceeds what McConnell has been willing to commit to. The two bills have some key differences:The $908 billion stimulus package proposes support for small business loans, state and local government, education, unemployment insurance, healthcare, and distribution of a COVID-19 vaccine.
Persons: Trump, Mitch McConnell, McConnell, Donald Trump, John Cornyn, Lindsey Graham, Nancy Pelosi, Chuck Schumer, Mark Wilson, Sarah Matthews, he'd, Joseph Zeballos, Roig, Joe Biden Organizations: Republican, GOP, Lawmakers, The New York Times, Washington, bipartisanship, Democratic, CNN Locations: Texas, Lindsey Graham from South Carolina, Washington , DC
He told Insider Republicans have courted him for years. "I'd do old man backflips," Sen. John Kennedy, a Louisiana Republican told Insider of the remote chance that Manchin could switch parties. "I just truly have a comfort of talking to everybody," Manchin told Insider. The Republican Senate majority leader and his Democratic counterpart in the House had been looking for compromise. He later told Insider he wasn't necessarily a lock either for a public option that Biden supports.
Persons: Sen, Joe Manchin, Joe Biden's, GOP Sen, John Kennedy of, Nancy Pelosi, Mitch McConnell, Chris Cuomo, Ross Baker, Jim Jeffords, George W, John Kennedy, Kennedy, Manchin, he'd, Biden, Chuck Schumer, Baker, Sarah Silbiger, Donald Trump's, Barack Obama's, they'll, Lisa Murkowski, Tom Williams, Cuomo, he's, I've, McConnell, Pelosi, centrists, Kevin McCarthy, Schumer, Lindsay Graham of, we'll, Graham, Ohio Republican Sen, Rob Portman, Portman, He's, Robert Byrd, Jim Justice, Rutgers, it's, Richard Shelby of, " Kennedy, hadn't Organizations: West Virginia Democrat, Republican, GOP, Democratic, Capitol, The New York Times, Cuomo, Rutgers University, Louisiana Republican, Democratic Party, Democrat, Senate Energy, Natural, Senate Democratic, Republicans, Trump's, Senate, Georgia, West, Natural Resources, Inc, Getty, Washington, CNN, Republican Senate, Trump, Ohio Republican, Progressives, West Virginia Democrats, Biden, Hill, Democrats, West Virginians Locations: Washington, John Kennedy of Louisiana, Manchin, Louisiana, Biden's Washington, West Virginia, Lindsay Graham of South Carolina, Richard Shelby of Alabama
U.S. Senate Democratic Leader Chuck Schumer (D-NY) takes questions during a news conference on Capitol Hill in Washington, December 1, 2020. "This latest jobs report shows the need for strong, urgent emergency relief is more important than ever," Senate Minority Leader Chuck Schumer, D-N.Y., said in a statement. "Senate Republicans are increasingly understanding this urgency, and Leader McConnell should hear their pleas as well as those of the millions of struggling American families." The Senate leader wants to pass a more narrow $500 billion plan. It is unclear how much the jobs report will affect the contents of a relief bill — or how quickly Congress can pass it.
Persons: Chuck Schumer, ratcheted, payrolls, McConnell, Mitch McConnell, Nancy Pelosi, Sen, John Barrasso of, Barrasso, Larry Kudlow Organizations: Senate Democratic, Capitol, Democratic, Republicans, Senate, House, Economic, CNBC, YouTube Locations: Washington, Capitol Hill, John Barrasso of Wyoming, Wyoming
RNC chairwoman Ronna McDaniel also faced a messaging crisis when, after repeatedly backing Trump's claims of fraud, she struggled to convince Georgia voters who believed the allegations to participate in the runoffs. President Donald Trump spent months before the general election crusading against mail-in voting and claiming the election would be "rigged" against him. 'Why would you go back and vote in another rigged election, for God's sake?' But Republicans are hitting a roadblock as Wood and Powell actively urge Georgia voters to boycott the elections because they claim the races are already "rigged." As The Guardian's Sam Levine wrote, "by undermining confidence in the election, Trump could also be telling his supporters that their votes won't matter."
Persons: Donald Trump, it's, Lin Wood, Sidney Powell, Ronna McDaniel, Trump's, Trump, Kelly Loeffler, David Perdue, Joe Biden, Republican Sen, Rev, Raphael Warnock, Jon Ossoff, Powell, Wood, Perdue, haven't, Michael Flynn, Chuck Schumer, , Ted Cruz, Biden, we've, McDaniel, It's, Loeffler, Sam Levine, Allen Peake, Politico, Peake, I'm Organizations: GOP, Trump, Republican, Georgia, Republican Sens, Democratic, Loeffler, Democrats, Green, Republican National Locations: Georgia, Russia, America, Ted Cruz of Texas
November's nonfarm payrolls report handily missed expectations, but the gloomy data has amplified calls for a near-term stimulus deal. Investors pushed US stocks to record highs on hopes the disappointing data would expedite stimulus negotiations. Though the report shows a seventh straight month of job gains, it will take roughly four years to reach pre-pandemic employment if hiring continues at its November pace. The report "shows the need for strong, urgent emergency relief is more important than ever," Senate Minority Leader Chuck Schumer said. The report "shows the economy is stalling" and doesn't account for the continued rise in COVID-19 cases seen this month, President-elect Biden said.
Persons: November's nonfarm payrolls, Chuck Schumer, November's nonfarm, Mitch McConnell, Biden, Trump, Nancy Pelosi, Read, Kelly Loeffler, Joe Biden, Lindsay Graham, Chuck Grassley, McConnell, Stocks, David Donabedian, David Perdue Organizations: Democratic, Republican, Investors, Labor Statistics, Bloomberg, Republicans, Wall, Congressional Democratic, Senate Republicans, CIBC Private Wealth Management Locations: COVID, Georgia
ET Transition Live Updates: Biden to Speak on ‘Stalling’ Economy Amid Sluggish Job Growth President-elect Joe Biden is urging Congress to quickly pass another virus relief plan as leaders of both parties work toward a compromise. President-elect Joseph R. Biden Jr. has issued repeated calls for lawmakers to find agreement on a compromise coronavirus stimulus proposal. During his remarks, which he will deliver in Delaware, Mr. Biden is expected to renew calls for Congress to quickly pass another round of virus relief. Congress and President Trump must get a deal done for the American people. The American economic recovery continues to slow, stranding millions who have yet to find a new job after being thrown out of work by the coronavirus pandemic.
Persons: Biden, Joe Biden, Mike Pence, Joseph R, Kriston Jae Bethel, Nancy Pelosi, Mitch McConnell, , Ms, Pelosi, Chuck Schumer, ” Mr, , Trump, “ It’s, — Jim Tankersley, Nicholas Fandos, Emily Cochrane, Pence, Hope, , Donald Trump, we’re, Bob, Lynsey Weatherspoon, Henry Walke, Kelly Loeffler, David Perdue —, C.D.C, Pence’s, Dr, Raphael Warnock, Loeffler, Jon Ossoff, Perdue, David Perdue, Lipper, Barack Obama, Mr, — Sheryl Gay Stolberg, Eileen Sullivan, McConnell, ’ Pelosi, Schumer, Josh Gottheimer, Erin Scott, ” — Nicholas Fandos, Fauci, , Anthony Fauci, Stefani Reynolds, It’s, Anthony S, President Trump, he’s, NBC’s, Gavin Williamson, “ We’ve, haven’t, Kathryn Gamble, Dave Loebsack, Mariannette Miller, Meeks, Rita Hart, Miller, Hart, Claudia Tenney, Anthony Brindisi, Ella Koeze, Ernie Tedeschi, “ we’re, Stephen Speranza, pare, Mitch McConnell of, Eileen Sullivan —, Black, Felicia Davis, Audra Melton, Will, we’ve, weren’t, that’s Organizations: The New York Times, Labor Department, U.S . Chamber of Commerce, Senate, Centers for Disease Control, White, Coronavirus, Force, Credit, Reuters, Preparedness, Republican, Food and Drug Administration, Democratic, Republican National Committee, CNN, The New York, National Institute of Allergy, American, BBC, Congressional, New, , Democrat, Iowa, Iowa Supreme, Administration Committee, New York, State Board, Republicans, of Labor Statistics, Congress, ISI, of Labor Statistics Covid, — Republican, Mitch McConnell of Kentucky, Moody’s, Mr, Pew, Democrats, Democratic Party, , Nse Locations: Delaware, California, New York, C.D.C, America, Atlanta, , Savannah, Georgia, Valdosta, Ga, Jan, Kentucky, British, Iowa, Newton , Iowa, Iowa’s, Washington, New, Binghamton, Utica, Chenango County, Wyoming, Moody’s Analytics . Wyoming, Alaska, North Dakota, Florida, Nevada, Louisiana, Clayton County, New Georgia
President-elect Joe Biden on Friday said that another round of coronavirus stimulus checks for U.S. families "may be still in play." Biden added: "And I understand that may be still in play. Biden has endorsed the plan as a "good start," but he has promised to push for more aid when his administration takes charge. Pelosi and Schumer have called for another stimulus check for months as part of trillions in aid they hoped to approve. When the Democratic leaders yielded ground and asked to start talks around the $908 billion measure, they noted that "we and others will offer improvements."
Persons: Joe Biden, Biden, I'm, we've, Nancy Pelosi, Chuck Schumer, Mitch McConnell, Pelosi, McConnell, Schumer Organizations: Capitol, Democratic Locations: Ky
WASHINGTON — Lawmakers are growing optimistic about a coronavirus relief deal, as party leaders converged Thursday on a price tag after months of stalemate gave way to meaningful negotiations. But lingering policy disputes remain and leaders still hope to combine the Covid-19 relief into a government funding bill by the Dec. 11 deadline to avert a shutdown. A breakthrough came Wednesday when Pelosi and Schumer backed a $908 billion bipartisan measure as the basis for negotiations, lending support for a reduced price tag more palatable to Republicans than Democrats' previous $2.2 trillion offer. McConnell has insisted on liability protections for businesses and organizations from Covid-related lawsuits, which Democrats are resisting. "There are issues — in particular, the size of state aid, and the liability relief," he told reporters on Thursday.
Persons: Pelosi, Schumer, Mitch McConnell, McConnell, Sen, Chris Coons, Lindsey Graham, we'll, Donald Trump, I've, it's, Trump, Nancy Pelosi, Chuck Schumer, John Cornyn, Dick Durbin, We're, Cornyn, I'm, Tom Reed, Josh Gottheimer, Chip Somodevilla, Mitch McConnell's, Hakeem Jeffries, Jon Tester, Rob Portman, Kevin Cramer, Josh Hawley, Hawley, Chris Murphy, Conn Organizations: WASHINGTON, Lawmakers, Democrats, NBC, Capitol, Getty Locations: Ky, Covid, Texas, COVID, D, Ohio
New U.S. coronavirus aid bill uncertain as Senate leaders joust
  + stars: | 2020-12-03 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +2 min
FILE PHOTO: U.S. Senate Majority Leader Mitch McConnell (R-KY) speaks to reporters as Senate Republican leaders hold a news conference on Capitol Hill in Washington, U.S., December 1, 2020. REUTERS/Kevin Lamarque/Pool/File PhotoWASHINGTON (Reuters) - U.S. Senate Majority Leader Mitch McConnell on Thursday said there was some positive movement in congressional efforts to reach a compromise on a new coronavirus aid bill but he gave no hints on when such a deal might be struck. “Now it’s been heartening to see a few hopeful signs in the past few days” toward a deal, McConnell, a Republican, said of Democrats’ stance on a new aid bill. Democrats had been seeking around $2.2 trillion while Republicans were offering around $500 billion. Pelosi and Schumer on Wednesday said that a $908 billion aid bill cobbled together by a group of Republicans and Democrats in the House and Senate should be the basis of new negotiations.
Persons: Mitch McConnell, Kevin Lamarque, it’s, McConnell, Chuck Schumer, Schumer, Nancy Pelosi, John Kennedy, Pelosi, Marco Rubio Organizations: Republican, Capitol, REUTERS, WASHINGTON, U.S, Democratic, Republicans, Thursday, Fox News, Democrats Locations: Washington , U.S
WASHINGTON (Reuters) - A bipartisan, $908 billion coronavirus aid plan gained momentum in the U.S. Congress on Thursday as conservative lawmakers expressed their support and Senate and House of Representatives leaders huddled. The U.S. Chamber of Commerce, which represents businesses across the United States, on Wednesday had warm words for the $908 billion bill. Senator Lindsey Graham added: “The $908 (billion) bill, that’s the one I support.”Earlier on Thursday, Trump said he thought negotiators were “getting very close” to a deal, but he did not elaborate. Congress is working on a $1.4 trillion funding bill to avert agency shutdowns in mid-December and leaders hope to attach a coronavirus aid bill to that must-do measure -- if only they can reach a deal. But this week, Pelosi and Schumer said the bipartisan, $908 billion aid bill should be the basis of new negotiations.
Persons: Mitch McConnell, Kevin Lamarque, McConnell, Bill Cassidy, , ” Cassidy, Donald Trump’s, Kevin Cramer, Lindsey Graham, Trump, Nancy Pelosi, “ It’s, Kevin McCarthy, ‘ IT’S, ’ McConnell, Chuck Schumer, ” Schumer, Pelosi, Schumer, Dean Phillips, Marco Rubio Organizations: WASHINGTON, U.S, Congress, Republican, Capitol, REUTERS, U.S . Chamber of Commerce, Democratic, of, , Fox News Locations: Washington , U.S, Washington, United States, United, America, United States of America, Minnesota
Treasury yields retreat as stimulus stalemate drags on
  + stars: | 2020-12-03 | by ( Vicky Mckeever | ) www.cnbc.com sentiment -1.00   time to read: +2 min
The yield on the benchmark 10-year Treasury note fell to 0.943% at 5:02 a.m. ET, while the yield on the 30-year Treasury bond dipped to 1.696%. U.S. Treasury yields slumped on Thursday morning, as traders awaited news on congressional negotiations over a coronavirus stimulus package. The final November data for the Markit purchasing managers' index is due at 11:45 a.m. Auctions will be held on Thursday for $30 billion of 4-week bills and $35 billion of 8-week bills.
Persons: Nancy Pelosi, Chuck Schumer, Mitch McConnell Organizations: Treasury, The, ADP, Companies, Dow, Institute of Supply Locations: Congress, U.S, Dow Jones
Nancy Pelosi and Chuck Schumer have given up on a secret COVID-19 stimulus proposal they sent directly to Mitch McConnell. House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer abandoned a secretive COVID-19 stimulus proposal when they publicly backed a $908 billion bipartisan bill. The pair had quietly taken a proposal directly to Senate Majority Leader Mitch McConnell on Monday night, The Washington Post reported. The bipartisan bill is far short of the $2.2 trillion package approved by the Democratic Party, but preserves help for small business, unemployment support, and coronavirus vaccine distribution costs. As well as thrashing out a stimulus bill, lawmakers also have to deal with a looming government shutdown, which will kick in on December 11 unless they act to avert it.
Persons: Nancy Pelosi, Chuck Schumer, Mitch McConnell, McConnell, Schumer, Pelosi, McCarthy, Donald Trump's, Sen, Ron Wyden Organizations: Washington Post, Congressional, Democratic Party Locations: Oregon
ET Jobless Claims Data Expected to Shed Light on Economy’s Direction: Live Updates RIGHT NOW Stocks slip lower before U.S. state unemployment claims data. —Stocks slip lower before U.S. state unemployment claims data. Credit... Facundo Arrizabalaga/EPA, via Shutterstock Wall Street was poised to open unchanged and European indexes drifted lower as investors awaited the latest U.S. weekly unemployment claims data. More than four in 10 Republicans support raising taxes on people earning more than $400,000 a year. Three-quarters of Republicans support a proposal to guarantee paid sick leave to workers during the coronavirus pandemic.
Persons: Jae C, , Diane Swonk, Grant Thornton, ” Ms, Swonk, inoculations, Michael Gapen, ” Mr, Gapen, Facundo Arrizabalaga, DAX, curfews, Joseph R, Biden, Mitch McConnell, Bill Ackman’s, Mike Pence, McConnell, Trump’s, Al Drago, Nancy Pelosi, Chuck Schumer, — Nestlé, Fabrice Coffrini, Nestlé, Mark Schneider, Schneider, Mr, , Trump, Jim Tankersley, Ben Casselman, Barack Obama, Republicans ’, Organizations: Associated, Barclays, CAC, Nikkei, Republican, Labor, West Texas, Tesco, Pershing Square Holdings, Capitol, The New York Times Independent, Democratic, Republicans, Companies, Agence France, The New York Times, Mr Locations: Norwalk , Calif, Chicago, London, Europe, Britain, France, Germany, Asia, Japan, Hong Kong, United States, Russia, Georgia, Nestlé, Switzerland, Swiss, York
New bipartisan proposal for coronavirus relief gains steam on Capitol Hill
  + stars: | 2020-12-03 | by ( ) www.cnbc.com sentiment -0.99   time to read: 1 min
New bipartisan proposal for coronavirus relief gains steam on Capitol HillHouse Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer urged Senate Majority Leader Mitch McConnell to use a $908 billion bipartisan stimulus plan as the basis for relief talks. CNBC's Ylan Mui reports.
Persons: Nancy Pelosi, Chuck Schumer, Mitch McConnell, CNBC's Ylan Mui Locations: Hill
Senate Majority Leader Mitch McConnell has said President Donald Trump's veto would hold up a $908 billion bipartisan stimulus bill from passing. The $908 billion stimulus package proposes support for small business loans, state and local government, education, unemployment insurance, healthcare, and distribution of a COVID-19 vaccine. Other than McConnell's statement suggesting the president would veto all but the most restrictive proposal, it is unclear what his position is. The White House did not immediately respond to Business Insider's request for comment on McConnell's statement. Sen. Ron Wyden (D-Oregon) called McConnell's bill an "insult."
Persons: Mitch McConnell, Donald Trump's, McConnell, Nancy Pelosi, Chuck Schumer, Mitt Romney, Trump, he'd, Joseph Zeballos, Roig, Sen, Ron Wyden Organizations: Democratic Party, bipartisanship, GOP, Democrats, Republicans, Christmas Locations: United States, Utah, Oregon, Los Angeles
The US-China fight isn't going away. This proves it
  + stars: | 2020-12-03 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com + 0.00   time to read: +7 min
It was already green-lit by the Senate, which means it now just needs President Donald Trump's signature to become law. The legislation would prevent companies that refuse to open their books to US accounting regulators from trading on Wall Street. NetEase NTES JD.com JD Alibaba BABA China Telecom CHA Sensing that scrutiny is growing, Chinese companies have been readying contingency plans. "I'm not going to make any immediate moves, and the same applies to the tariffs," Biden said. Discussions about additional stimulus spending in the United States have been locked in partisan gridlock for most of the year.
Persons: that's, Trump, Donald Trump's, Jill Disis, Sen, John Kennedy, Beijing isn't, Hua Chunying, NetEase NTES JD.com, Alibaba, Joe Biden, Thomas Friedman, I'm, Biden, Mark Haefele, Nancy Pelosi, Chuck Schumer, Mitch McConnell, Goldman Sachs, Pelosi, Schumer, Alec Phillips, Phillips, There's, Jazmin Goodwin, Kroger Organizations: London, CNN, Senate, Louisiana Republican, House, Ministry of Foreign Affairs, Alibaba BABA China Telecom CHA, Hong, New York Times, Trump, UBS Global Wealth Management, Democratic, UPS, CNN Business, Street Journal, Nike, Adobe Analytics, FedEx, USPS, Smith, Wesson Locations: China, Beijing, Louisiana, New York, Hong Kong, United States, Washington, Russia
Rep. Josh Gottheimer and Rep. Tom Reed on relief talk progress in Congress
  + stars: | 2020-12-03 | by ( ) www.cnbc.com sentiment -0.84   time to read: 1 min
Rep. Josh Gottheimer and Rep. Tom Reed on relief talk progress in CongressHouse Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer are backing a smaller Covid relief package of $908 billion. The proposed plan has been called a "step in the right direction," but Majority Leader Mitch McConnell is still not on board with the plan. Rep. Josh Gottheimer (D-NJ) and Rep. Tom Reed (R-NY) join "Squawk Box" to discuss.
Persons: Josh Gottheimer, Tom Reed, Nancy Pelosi, Chuck Schumer, Mitch McConnell
(CNBC)U.S. stock futures were steady Thursday morning, one day after the S&P 500 closed at another record. (CNBC) The reluctance to commit on Wall Street reflected the uncertainty around a new Covid stimulus bill from a bipartisan group of senators. (CNBC)The Johns Hopkins University coronavirus tracker showed yet another increase in reported Covid-19 case and death counts for Wednesday. Berkshire Hathaway (BRK.a) said Thursday that it will hold its annual shareholder meeting, slated for May, virtually again due to spiking coronavirus cases. The Warren Buffett run company said that May's meeting will be similar to its 2020 annual shareholder meeting, which was also held virtually.
Persons: Nancy Pelosi, Chuck Schumer, Mitch McConnell, McConnell, Bush, Robert Redfield, Eric Garcetti, Google didn't, Donald Trump, . Bean, Berkshire Hathaway, Warren Buffett Organizations: Labor Department, CNBC, Dow, Johns Hopkins University, Democratic, U.S . National Labor Relations, Google, Facebook, U.S . House, UPS, Nike, Wall Street, Berkshire Locations: Covid, Los Angeles, America's, Beijing, U.S
Reinstating the expired $600 weekly jobless benefit alone could save or create 3.3 million jobs, the report finds, and boost personal income by more than $290 billion over the next year. Without this supplement, the average worker received $318 per week in unemployment benefits in October, according to the Labor Department. Two more CARES Act provisions, Pandemic Unemployment Assistance and Pandemic Emergency Unemployment Compensation, extend jobless benefits to those who traditionally don't qualify, such as the self-employed and gig workers, as well as those who've used up the traditional 26 weeks of state-provided benefits. Following the aftermath of the Great Recession, long-term unemployment exceeded 40% of total unemployment for three years. President-elect Joe Biden has previously said he will work with Congress to extend the extra $600 per week in federal unemployment benefits that expired at the end of July for "however long this crisis lasts."
Persons: Mitch McConnell, Nancy Pelosi, Chuck Schumer, McConnell, Joe Biden Organizations: Economic, Institute, Labor Department, The Century Foundation, Economists, Republican, Democratic Locations: Hawaii , California , New York , Massachusetts, Pennsylvania, Nevada, Washington
It's not a perfect bill, but it is a compromise bill that can bring people together," Rep. Tom Reed, D-N.Y., said on "Squawk Box." The Problem Solvers Caucus this week unveiled a $908 billion coronavirus stimulus plan with a bipartisan group of senators, including Sens. They're now at $900 billion supporting this bipartisan, bicameral package that we put together," he said. They recognize we have to get this done as Covid surges, as people continue to suffer, businesses running out of the lifelines," added Reed. It's not a perfect bill, but it is a compromise bill that can bring people together."
Persons: Tom Reed, Josh Gottheimer, we've, Joe Manchin, Mitt Romney, Nancy Pelosi, Chuck Schumer, Mitch McConnell, McConnell, Donald Trump, Steven Mnuchin, Mnuchin, Pelosi, Reed Organizations: CNBC, New, New Jersey Democrat, Kentucky Republican, Reuters, Congress, Democratic Locations: U.S, New Jersey, Sens, R, Utah, Kentucky, Washington, New York
Senate Majority Leader Mitch McConnell (R-KY) conducts a news conference in the U.S. Capitol after the Senate Republican Policy luncheon in Washington, U.S. December 1, 2020. Senate Majority Leader Mitch McConnell said Thursday that he has seen "hopeful signs" toward Congress striking a coronavirus stimulus deal before the end of the year. Whether Democrats, who lead the House and can hold up any bill in the Senate, will accept McConnell's vision of compromise remains to be seen. On Thursday, McConnell called for a deal similar to the one he unveiled. We've got to move forward and we want our bill called," he said.
Persons: Mitch McConnell, Nancy Pelosi, Chuck Schumer, McConnell, Pelosi, Schumer, Sen, Dick Durbin, We've, Durbin, Joe Biden, Biden Organizations: U.S, Capitol, Kentucky Republican, GOP, Illinois, MSNBC, CNBC, YouTube Locations: Washington , U.S
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