Biden Expects $1.9 Trillion Stimulus Package to Pass House by Narrow Margin
Published Date: 2/24/2021
Source: Bloomberg Quicktake: Now
The House vote on President Joe Biden’s $1.9 trillion Covid-19 relief bill will be held on Friday, the majority leader announced. Biden on Tuesday indicated the congressional vote on the legislation would be close, speaking after GOP Senator Susan Collins said she doesn’t expect a single Republican vote in favor of it. Budget Committee Chair Bernie Sanders said the Senate’s parliamentarian could rule as soon as Wednesday on whether a proposed minimum-wage hike can be included in the fast-track bill. While the package that the House is expected to vote on in coming days includes the president’s plan to phase in a $15-per-hour minimum wage, two moderate Democratic senators currently say they oppose that component of the legislation. Senate leaders meantime previewed what’s next. Majority Leader Chuck Schumer said he expects Biden’s second, longer-term economic package “very soon” after the pandemic-aid bill. Minority Leader Mitch McConnell warned that he believes Democrats will include tax hikes in that next bill, predicting the majority party would push for a corporate tax rate in excess of Biden’s 28% proposal. 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