Deadline looms, but COVID relief deal may be far off
She said the two sides would take stock on Tuesday, which she has staked out as the deadline if a deal is to be reached before the election. Pelosi is angling for the best deal she can get — maybe that’s now, maybe it’s later. And if history is any guide, prospects for a deal in the lame-duck session after the election could be dim. But the Senate GOP bill has failed once before, and Trump himself says it's too puny. For months she has been promising a COVID relief package of more than $2 trillion stuffed with Obama-era stimulus ideas.
New jobs report diminishes GOP appetite for more virus aid
WASHINGTON An unexpectedly strong jobs report could further scramble an already uncertain picture for passing a fifth and possibly final coronavirus aid bill. The positive statistics are feeding the wait-and-see approach of the White House and its GOP allies in Congress. Republicans say the numbers vindicate their decision to take a pause and assess the almost $3 trillion in assistance they already have approved. The coming weeks are expected to bring difficult negotiations over what the package should contain, just months before an election where the White House and control of Congress are at stake. Fridays jobs report showed a 2.5 million gain instead of an expected loss of millions more, complicating prospects for the aid talks.
GOP congressman: Libra hearing is 'American innovation on trial' by lawmakers who don't get it
Republican Rep. Patrick McHenry told CNBC on Wednesday he's concerned that the hearing on the Facebook-backed cryptocurrency libra will stifle innovation. "My fear is that we now have American innovation on trial by policymakers here in Washington because they don't understand it," the North Carolina congressman said on "Squawk Box." "Because they're a big company doing this type of innovation, you have American policymakers trying to pounce on them," McHenry added. In prepared remarks, Zuckerberg told lawmakers the digital coin "will extend America's financial leadership as well as our democratic values and oversight around the world." The Libra Association has 21 members, including Facebook, Uber and Lyft, each with a single voting power.cnbc.com