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Unemployment benefits for many Americans (around 14 million lose the extra benefits) lapsed at midnight on Saturday after Trump failed to sign the COVID-19 relief and spending bill.
Ahead is a potential government shut down to begin Tuesday if he continues to ‘pocket’ veto the bill. As I posted last week, link here for more:
- Trump could veto the bill, but it passed with such a large majority that the Senate could override his veto if it wished. However, Trump could simply refuse to sign the bill and due to the current situation, this would be an effective veto (a ‘pocket veto).
Congress ill need to agree to a stop-gap government funding bill before Tuesday to avoid a shutdown.
The objections Trump has raised to the bill include:
- the $US600 relief checks should be raised to $US2000
- the bill has unnecessary components
Both sides of politics, Republicans and Democrats, agreed to the bill after 7 months of wrangling.
Will Trump cave and sign eventually? Comments welcome (Keep it civil though, K? Abuse the lying cheating politicians all you like but not your fellow traders).
This article was originally published by Forexlive.com. Read the original article here.