Senate Republican, John Thune, said the U.S. government is at risk of a partial shutdown over the weekend, reports Bloomberg. Thune believes some senators will object extending short-term funding as the virus relief plan and federal spending bill negotiations continue.
- Congressional leaders are already working through the final stages of about a $900 billion coronavirus relief deal, although the agreement may not be finalized before Friday.
- The current relief bill hurdles include Democratic requests for federal funds to match 100% of FEMA payouts for pandemic-related disasters.
- Republicans are demanding an end to the Federal Reserve’s emergency lending by the end of the year.
- The deal negotiations are also split on whether the relief bill should extend an existing eviction moratorium if it also includes adequate funds to help renters.
- Leaders plan to attach the pandemic relief plan to a $1.4 trillion bill that would fund the federal government through the end of the fiscal year on September 30.
- A stopgap funding will be needed to prevent a possible government shutdown if this legislation is not signed into law by Friday.
U.S stocks are currently declining. SPY is down 0.51%, QQQ: NASDAQ is down 0.25%.
