US Senate Starts Debate On $1.9T Virus Relief Bill
Procedural hurdles make timing of final vote uncertain, but top Democrat vows to power through and finish this bill The US Senate began Friday debate on an omnibus $1.9 trillion COVID relief package ahead of what is set to be a chaotic round of back-to-back votes.
Debate will run until noon when Senators will then be able to offer amendments to the massive spending bill in what is being described as a marathon vote-a-rama that could delay a final vote on the package by hours or days.
While the bill is near certain to eventually clear the chamber, possibly on Saturday, it is unclear when that will happen because of the procedural format despised by Republican and Democratic lawmakers alike.
US Stock Market Closes At Record With Stimulus Optimism
Treasury head said economy could return to full employment next year if Congress passes Biden s $1.9T relief plan. US stock market indexes closed Monday at record levels with stimulus optimism amid a faster recovery in the world s largest economy.
The Dow Jones climbed to an all-time high of 31,386 points to close one point off that mark. The blue chip index is now on a six-day winning streak the longest since August.
The S&P 500 and the Nasdaq each ended at record levels of 3,908 and 13,987, respectively.
Oil majors were the largest gainers with ExxonMobil and ConocoPhillips gaining 4.3% and 5.3%, respectively, as prices rose around 2% in hopes of a recovery in the global economy and overall crude demand around the world.