Congress Heads Home, What Does 1/6 Vote Mean?

Congress heads home for Memorial Day not returning until June 14. At one point Memorial Day was viewed as a deadline for negotiations trying to get a bipartisan infrastructure bill but talks seem poised to continue into June. The White House and a group of Senate Republicans led by West Virginia Senator Shelly Moore Capito continue to exchange drafts. On Friday the White House gave the Republicans a new offer of $1.7B which is much larger than the $800B Mitch McConnell indicated was his ceiling. The President remains very involved and seems motivated to find a compromise that allows him to deliver on his campaign promise of more bipartisanship, but the two sides seem far apart.

Washington pundits are talking more and more that President Biden is looking for a Washington that simply doesn’t exist anymore, one from his Senate days when Republicans and Democrats worked across the aisle on issues. There remains some hope that a bipartisan infrastructure bill based on “traditional” infrastructure can be approved, but time is the enemy of a bipartisan agreement. Democrats are likely to need a Budget Reconciliation Bill to get some of the less traditional infrastructure ideas from low income housing to removal of lead pipes; and absent agreement, Democrats will incorporate the traditional infrastructure into the mix. July 4th, and the next Congressional break, seems like the next deadline for deciding on the infrastructure package.

You are trying to access FSI member-only content.
You need to have an active FSI Macro, or FSI Pro subcription in order to read this article.
If you are already a member at FSInsight, please Sign In here. If you don’t have a subscription to FSInsight yet, you can sign up below.

Choose one of our yearly plans to save nearly 15%

We accept crypto via BitPay for yearly subscriptions.
    • Macro
      FSI Macro
      billed anually
      Get access to all the macro research on FSInsight
      • Tom Lee's First Word
      • Tom Lee’s Equity Strategy
      • Stock Lists
      • ETF Sector Allocation
      • Wall Street Whispers
      • Signal From Noise
      • Technical Analysis
      • US Policy
      • Fed Watch
      • Live Webinars with Q&A
      First Month Free!
    • Crypto
      FSI Digital Assets
      billed anually
      Get access to all the crypto research on FSInsight
      • Crypto Daily
      • Crypto First Word from Tom Lee
      • Crypto Blasts from David Grider
      • Crypto Weekly
      • Crypto Technical Analysis
      • Bitcoin Valuation
      • Bitcoin Misery Index
      • Live Webinars with Q&A
      • -
      • -
      First Month Free!
    • Macro + Crypto
      FSI Pro
      billed anually
      Get access to all the exclusive research on FSInsight
      • Looking at code?
      • I am hidden!
      • -
      • FSI Macro
      • +
      • FSI Digital Assets
      • Designed by
      • HANGAR115
      • -
      • -
      First Month Free!
Disclosures (show)

Want to receive Regular Market Updates to your Inbox?

I am your default error :)
FSInsight logo
150 East 52nd St, 3rd Floor, New York, NY 10022

Subscribe to our Free Weekly Report

An insitutional-grade report delivered to your inbox every week.

© 2021 FSInsight. All rights reserved. Developed by HANGAR115.

Illustrations by Karl Wimer.