Will lawmakers run out of time on stimulus?

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The market remained relatively steady this morning, as investors anticipate whether lawmakers will come up with a spending plan and stimulus relief package before their deadline just after midnight (more on that, below).

Yesterday, an FDA advisory panel recommended emergency use authorization for Moderna’s vaccine. That could be granted as soon as today, exactly one week after Pfizer received its authorization.

This morning Vice President Mike Pence received the vaccine.

And Johnson & Johnson is making progress in its own trials, enrolling 45,000 participants.

All of this comes as yesterday the U.S. logged over 3,000 virus-related deaths. That marks the fourth time in December that such a high number of fatalities has been recorded.

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Will lawmakers run out of time on stimulus?

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Lawmakers are officially up against the wire. If they don’t come up with something by 12:01 a.m. this Saturday, the federal funding runs out and the government will shut down.

If no further stimulus is approved, 12 million people will lose their unemployment benefits after Christmas.

Though Congressional leaders have suggested that progress is being made, it remains to be seen when a deal will actually be signed.

Senate majority Leader Mitch McConnell said yesterday that the “bipartisan, bicameral agreement appears to be close at hand,” and that lawmakers would likely work this weekend to get something done.

House Speaker Nancy Pelosi also suggested yesterday that progress was made. She said, “we are waiting to hear back.”

“I think we’ll finish up on Saturday,” Senator Rob Portman said.

Hopefully, their talks culminate in a relief package soon.

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Author: Fredrick Frost

Fedrick Frost is the Editor-in-Chief of Morning Bullets. He mainly writes about Politics, The Economy and breaking news. With over 35 years in jounralism he has been influential in helping the morning bullets newsletter readers be informed every morning.