Biden Pushes Covid Stimulus as Trump's Impeachment Trial Set to Begin
Published Date: 2/8/2021
Source: Bloomberg Quicktake: Now
The first committee votes on elements of President Joe Biden’s $1.9 trillion Covid-19 relief package begin on Tuesday, House schedules showed. Biden’s proposed minimum-wage hike is likely to be trimmed back by lawmakers, according to analysis from Goldman Sachs Group Inc. highlighting the political challenges of the push. The House Education and Labor Committee, with jurisdiction over school reopening funds, workplace safety standards and any minimum wage increase, tentatively set Tuesday for its vote. Biden said in a CBS interview Friday a wage increase “apparently” wouldn’t be part of the package due to Senate rules. Goldman analysts said a standalone bill phasing in an increase to $10 to $11 an hour is “more politically realistic” than Biden’s $15 proposal. Progress made by committees this week will prove critical in determining whether Congress can keep to the objective of passing the final bill by the mid-March expiration of some current unemployment benefits. Goldman on Monday bumped its forecast for the stimulus up to $1.5 trillion from $1.1 trillion. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake