Trump OKs 2-Day Funding Bill To Avoid Government Shutdown
President Donald Trump approved a two-day funding bill on Friday night as Congress attempts to strike a coronavirus relief deal.
According to CBS News, the two-day funding will allow negotiations on the relief deal and full-year funding to continue until Sunday. It will also prevent a partial government shutdown until the said date, Axios noted.
The bill was passed by both the House and Senate earlier Friday before reaching Trump's table.
Trump's approval of the two-day funding resolution comes as lawmakers continue to resolve issues with a $900 billion coronavirus relief package and a $1.4 trillion long-term spending deal.
This was the second time a continuing resolution has been passed this month because lawmakers failed to reach a compromise on stimulus.
The first resolution was passed last week and extended the deadline until Friday, but even then, congressional leaders failed to work out their differences, CNBC noted.
For days, they said they were closing in on a deal, but none materialized.
Lawmakers Hopeful of Stimulus Deal Despite Issues
Republican and Democratic leaders have been optimistic that a deal on the stimulus package and government funding would be reached this month despite stalemate after stalemate in the months prior.
Leaders have met daily to negotiate with an agreement, including vaccine funding, stimulus checks, and other benefits.
House Majority Leader Steny Hoyer told USA Today that he was hopeful a deal would be possible even there were still "significant issues outstanding" with stimulus negotiations.
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The earliest time lawmakers will vote on any stimulus legislation if one does emerge, would be at 1 p.m. EST on Sunday.
Hoyer said that "it'll take some time to put the paper together" once the lawmakers agree on a bill.
Senate Majority Leader Mitch McConnell also insisted Friday that both sides of the aisle were "firmly committed to finalizing another major pandemic rescue package for the American people."
Like Hoyer, he also said a final agreement has "regretfully" not yet been reached.
The Senate will return at 11 a.m. ET Saturday to address nominations while the House will meet again on Sunday noon.
GOP Suggests Slashing Federal Reserve Lending Programs
Republicans proposed to reduce the Federal Reserve's emergency lending programs as part of the stimulus deal.
But Democrats feared the GOP might be attempting to reduce the Fed's authority, damaging the incoming Biden administration. The debate was one of the causes the Friday deadline was not met.
"Almost like they want to use the COVID relief package to sabotage Biden's presidency," Senator Chris Murphy of Connecticut tweeted.
The developing stimulus plan would include direct payments, $300 in weekly federal unemployment supplement, and an extension of jobless benefits.
Some lawmakers like Sens. Bernie Sanders and Josh Hawley disagreed on the proposed $600 direct payment for Americans as part of the stimulus bill and wanted to bump up the amount to as high as $1,200.
But others like Senator Rand Paul of Kentucky disagreed with direct payments entirely. The proposed relief bill will also include money for vaccine development, testing, and distribution and put at least $300 billion into small business aid.
Schools adapting or go virtual during the pandemic will also receive direct funding.
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