Covid Relief

The Democratic leaders in Congress are working with the White House to determine the best strategy to get a big Covid Relief bill through Congress by the target date of March 14. Why March 14? Under the Covid bill passed at the end of last year, extended unemployment and the $300 a week federal supplemental payment expire on March 14, a date that is being referred to in DC as the Unemployment Cliff.

In the Senate a bipartisan group of 16 Senators has meet with senior White House staff in an effort to reach an agreement; but at this point it is not clear if compromise is possible. Democrats have made clear that in 2009, after President Obama’s landslide victory, Democrats spent too much time on both financial crisis relief and immigration negotiating with Republicans. Most Democrats are convinced that because of the fruitless talks they ended up with weaker legislation. Congressional Democrats are committed to not make the same mistake this time even though they are holding weaker cards with paper thin majorities in both the House and the Senate.

Both Schumer and Pelosi have announced that they are going to put the machinery in motion that is needed to approve the Biden Covid package through Reconciliation. Reconciliation is part of the budget process and ...

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Macro subscription is required in order to access this content.

*Free trial available only on a monthly plan

Disclosures (show)

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 2 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In

Want to receive Regular Market Updates to your Inbox?

I am your default error :)