What did President Trump gain by delaying coronavirus relief? [UPDATED]
Nothing. The legislation he described as a disgrace has been signed into law in exactly the form Congress passed it. It does not include the $2,000 handouts Trump wanted. It includes all of the wasteful spending he decried.
The president tried to save face with a “signing statement.” He declared, “the Senate will start the process for a vote that increases checks to $2,000, repeals Section 230, and starts an investigation into voter fraud.”
But Trump’s statement has no binding power on Congress. There will be no $2,000 checks (but see the update below). If there’s an investigation into voter fraud, it will be because Senate Republicans want to conduct that investigation, not because Trump delayed signing the relief legislation.
The $2,000 Stimulus Still Isn t Official – Here s What Happens Now (and Who to Blame) gobankingrates.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gobankingrates.com Daily Mail and Mail on Sunday newspapers.
What Trump gained by delaying coronavirus relief [UPDATED]
Yesterday, I suggested that President Trump gained nothing by delaying the implementation of the relief in the stimulus bill passed by Congress. However, I did allow that, as a result of his criticism of the bill, it’s possible that Congress will up the stimulus checks from $600 to $2,000. In that case, of course, Trump will have gained something.
On reflection (and this should have been obvious to me without it), Trump gains whether or not the larger checks are approved. The mere fact that Trump fought for them will help him down the road.
Small caps underperform broader market U.S. Senate leader McConnell feeds doubt on stimulus (New throughout, updates prices, market activity and comments to market close)
NEW YORK, Dec 29 (Reuters) - U.S. stocks edged lower on Tuesday in choppy trading after hitting record highs, as investors worried about the path of the economic reopening and whether the Senate would authorize additional pandemic aid checks. Modest gains in early trading brought stocks to an intraday record, but the gains evaporated after U.S. Senate Majority Leader Mitch McConnell blocked immediate consideration of the measure calling for an increase in stimulus payments from $600 to $2,000 on Tuesday. Final passage of the proposal would require 60 votes and the backing of a dozen Republicans.
Trump-Biden transition live updates: Biden to address nation on pandemic kxel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kxel.com Daily Mail and Mail on Sunday newspapers.