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Stocks Rise as Covid Vaccine Developments Advance: Live Market Updates

$900 Billion Pandemic Relief Deal Takes Shape
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Stimulus Negotiations Have Made ‘Major Headway,’ McConnell Says
Senator Mitch McConnell, the majority leader, said congressional leaders are approaching agreement on a roughly $900 billion coronavirus relief package.
The Democratic leader and I worked into the evening alongside the speaker of the House and the House Republican leader. We made major headway toward hammering out a targeted pandemic relief package that would be able to pass both chambers with bipartisan majorities. We committed to continuing these urgent discussions until we have an agreement. And we agreed we will not leave town until we’ve made law. The American people need more help. It’s that simple. Further targeted relief is now months overdue. We need vaccine distribution money. We need to re-up the Paycheck Protection Progr ....

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Advocacy groups are rushing to get aid to renters before a federal cutoff date.

Advocacy groups are rushing to get aid to renters before a federal cutoff date.
Philadelphia is a case study in the simple-but-not-easy task of helping tenants with the rent. Like most places, it isn’t close to satisfying the need.Credit.Hannah Yoon for The New York Times
Dec. 16, 2020
Almost from the moment the pandemic spread across the United States, advocacy groups have warned that the economic fallout could cause mass displacement of low-income tenants.
In response, more than 400 state and local governments have used money from the federal CARES Act to set up funds to cover at least $4.3 billion in rental assistance money that has helped tenants pay their bills and landlords stay current on their mortgages, according to a database set up by the National Low Income Housing Coalition, a policy group. ....

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Use It or Lose It: Tenant Aid Effort Nears a Federal Cutoff

Use It or Lose It: Tenant Aid Effort Nears a Federal Cutoff
Emergency pandemic funding to help renters must be distributed by Dec. 30. But getting the money to those who need it is no small task.
Gregory Heller of the Philadelphia Housing Development Corporation is scrambling to get emergency aid into tenants’ hands before a federal deadline.Credit.Hannah Yoon for The New York Times
Dec. 15, 2020
For several months, Gregory Heller, an official with a Philadelphia nonprofit group, has grappled with an unusual problem. He had $60 million in rental aid to help low-income tenants weather the pandemic and a whole lot of trouble spending it. ....

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