Hope of Imminent Stimulus Package Propels Futures

Hope of Imminent Stimulus Package Propels Futures

US Democrats on Thursday proposed a commission to investigate whether Donald Trump is mentally fit for office - and look at the constitutional options for his removal if necessary.

While White House Chief of Staff Mark Meadows said he was "not optimistic for a comprehensive deal", Trump appeared to relent somewhat, urging Congress to pass a $25 billion airline bailout, a move also supported by U.S. House of Representatives Speaker Nancy Pelosi.

"Again and again, Democrats offer legislation to save lives and livelihoods", Pelosi said in a statement last week, "only to be met by more Republican obstruction".

"I'm telling you something I won't tell anyone else, because it might help or harm the negotiations", the president said to talk show host Rush Limbaugh.

The new offer totals about $1.8 trillion, aides familiar with it said, with a key state and local fiscal relief component moving from $250 billion to at least $300 billion.

For the week, the S&P 500 rose 3.8% and the Nasdaq climbed 4.6%, their biggest weekly percentage gains since July. His decision earlier this week sent the jittery economy reeling and left his GOP allies scrambling as millions of Americans go without jobless assistance, hoped-for business support or expanded testing protocols weeks before Election Day.

Before the offer was made on Friday, Senate Majority Leader Mitch McConnell cast doubt on the possibility that a deal could get passed ahead of Election Day. Kudlow told reporters that "developments are positive" for more stimulus.

The Vice President, in this case Mike Pence and most of the Cabinet officials "or any other body that Congress may provide by law" must send a "written notice that the President can not discharge his powers and duties" to the Office of the Speaker of the House - Mrs. Pelosi - and the President of the Senate, now Republican Senator Chuck Crosley. The Senate is on recess until October 19 and the House until mid-November, but lawmakers have been told they can be called back with 24 hours notice to vote on any stimulus deal. "Absolutely absurd, " said Senate Majority Leader McConnell during an appearance in Shepherdsville, Kentucky.

Pelosi acknowledged the two parties had found areas of agreement, but said Republicans "have walked away from the full package". "I'd like to see us rise above that like we did back in March and April but I think that's unlikely in the next three weeks".

Pelosi and Democrats are pursuing a $2.2 trillion boost to the economy.

"I do hope that we will have an agreement soon", Pelosi said Friday on MSNBC. That would have been the moment to have implemented the following plan: First, sign another big stimulus bill, one that included more checks for Americans.

Multiple US presidents have temporarily transferred power to their VPs under Section 3 provisions when they were incapacitated, including Ronald Reagan and George W Bush when they underwent anaesthesia.

Pelosi has repeatedly argued that the real legislative language - and where that language directs funding - has become the most important aspect of any deal, especially when it comes to funding states and regions with significant budget deficits, a key sticky point for the Trump administration.

"The Administration does not share this priority of crushing the virus".

Related Articles