McConnell: Will revise his targeted relief bill for a floor vote
There is news hitting the Twitter wires that Senate Majority Leader, Mitch McConnell, has told Republicans he will revise his targeted relief bill for a floor vote, per two sources familiar, Politico reports.
New: McConnell tells Republicans he will revise his targeted relief bill for a floor vote, per two sources familiar. Senate Democrats have blocked previously, insisting more needs to be done https://t.co/ztI5mZddCt
— Burgess Everett (@burgessev) December 1, 2020
Meanwhile, this new bill has been reported that is could be out as soon as later today, sources say, and McConnell says he has a package that Trump supports.
McConnell says senate republicans are vetting relief ideas they believe Trump would sign into law and says there is an expectation for an additional covid-19 relief package early next year.
He said must pass a targeted relief bill this year.
Waiting until next year for fresh covid relief ‘not an answer’.
That said, this new McConnell bill — similar to his other 500bn offer w few weeks ago — could be out as soon as later today, sources say.
— Jake Sherman (@JakeSherman) December 1, 2020
On a call, McConnell told his members that he’s working with Meadows and Steven Mnuchin on a revised stimulus proposal with the President’s blessing, per two sources. He has previously put forward a $500 billion plan; he’s not embracing the $908B bipartisan plan unveiled today
— Manu Raju (@mkraju) December 1, 2020
Market implications
The screw is being turned on the US dollar in a move forecasted in te start of the week's analysis:
The DXY is has printed a fresh lower low today at 91.26.
Author
Ross J Burland
FXStreet
Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.
