President Joe Biden nominated three people for the Federal Reserve’s Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first Black woman to serve on the board.
CBSStephen Colbert kicked off his run of jokes about Dr. Mehmet Oz’s big campaign announcement on Tuesday with a bit of a softball: “Turns out, running for Senate is the one weird trick to reduce belly fat.”It thankfully got harsher from there.“Now, this is Dr. Oz’s first time running for office,” the Late Show host said of the TV doctor’s announcement that he will be running as a Republican for the open seat being vacated by Sen. Pat Toomey (R-PA). “So he’s staying humble with his promises.” As
news.yahoo.comPresident Joe Biden’s choice to become one of the top banking regulators endured a contentious nomination hearing Thursday, with Republican senators warning she would nationalize the U.S. banking system and Democrats saying she’s eminently qualified and would be tough overseer of Wall Street.
Democrats in Bucks County, Pennsylvania, felt the Republican wave building over the summer when frustrated parents filled school board meetings to complain about masking requirements and an academic theory on systemic racism that wasn’t even taught in local schools.
Resistance to the potential renomination of Federal Reserve Chair Jerome Powell intensified this week, with Sen. Elizabeth Warren becoming the first senator to publicly oppose Powell and many progressive groups pushing for some alternative leader at the Fed.
Retiring Sen. Pat Toomey (R-Pa.) told CNBC on Friday that he does not believe former President Trump should be the Republican presidential nominee in 2024, calling his behavior after the 2020 election "completely unacceptable."Why it matters: Toomey largely supported Trump and his agenda during his first term, but became one of seven Senate Republicans to vote to convict the former president after he was impeached for his role in the Jan. 6 Capitol insurrection. Stay on top of the latest market
news.yahoo.comRep. Conor Lamb (D-Pa.) announced Friday that he'll join the Democratic primary race for the U.S. Senate seat in Pennsylvania currently held by Sen. Pat Toomey (R-Pa.), who plans to retire. Why it matters: The centrist Lamb, 37, joins a crowded field in a state that's critical for Democrats' chances of retaining control of the Senate. Get market news worthy of your time with Axios Markets. Subscribe for free.Lamb first rose to prominence when he narrowly won a 2018 House special election in a Pi
news.yahoo.comSenators are racing to seal a bipartisan infrastructure deal as soon as Monday, as pressure is mounting on all sides to show progress on President Joe Biden's top priority. Heading into a make-or-break week, key senators and staff spent the weekend trying to reach a final agreement. One major roadblock is how much money should go to public transit.
news.yahoo.comLawmakers racing to seal a bipartisan infrastructure deal early this coming week are hitting a major roadblock over how much money should go to public transit, the group’s lead Republican negotiator said Sunday. As discussions continued through the weekend, Ohio Sen. Rob Portman said both sides were “about 90% of the way there” on an agreement. “We have one issue outstanding, and we’re not getting much response from the Democrats on it,” he said.
news.yahoo.comFederal Reserve Chair Jerome Powell on Wednesday defended the central bank’s increasing scrutiny of the impact climate change could have on banks, in the wake of criticism by Republican members of Congress that by doing so the Fed is overstepping its mandate.
President Biden on Sunday expressed confidence that a "rational" gun control bill can pass the evenly-divided Senate. "I'm the only one who has ever got them passed, man," Mr. Biden told reporters on Sunday. "The only gun control legislation that's ever passed is mine. Congress narrowly passed an assault weapons ban in 1994 when Mr. Biden was a senator, but it expired in 2005. Gun control advocates held a rally Sunday at the Colorado State Capitol, five days after 10 people were killed in a shooting a supermarket in Boulder, CBS Denver reported.
cbsnews.comVoting mostly along party lines, the U.S. Senate on March 24, confirmed Levine to be assistant secretary of health. She becomes the first openly transgender federal official to win Senate confirmation. (Caroline Brehman/Pool via AP, File)Voting mostly along party lines, the U.S. Senate has confirmed former Pennsylvania Health Secretary Rachel Levine to be the nation’s assistant secretary of health. She is the first openly transgender federal official to win Senate confirmation. She won confirmation by the Republican-majority Pennsylvania Senate.
Voting mostly along party lines, the U.S. Senate on March 24, confirmed Levine to be assistant secretary of health. She becomes the first openly transgender federal official to win Senate confirmation. (Caroline Brehman/Pool via AP, File)Voting mostly along party lines, the U.S. Senate on Wednesday confirmed former Pennsylvania Health Secretary Rachel Levine to be the nation’s assistant secretary of health. She is the first openly transgender federal official to win Senate confirmation. She won confirmation by the Republican-majority Pennsylvania Senate.
They are not even united themselves, as Sen. Joe Manchin, D-W.Va., told reporters Tuesday that he opposes the House legislation on background checks. The gun debate also highlights a larger difficulty for Senate Democrats as they try to move forward on gun legislation and other policy priorities of the Biden White House. Schumer has not said when he will bring the House legislation up for a vote. Democrats say they feel the environment around gun legislation has evolved, especially since that last major push in 2013. Many in the GOP base are still strongly opposed to gun control of any kind.
WASHINGTON – Democrats say they are pushing toward a vote on expanded gun control measures as the nation reels from its second mass shooting in a week. They are not even united themselves, as Sen. Joe Manchin, D-W.Va., told reporters Tuesday that he opposes the House legislation on background checks. It is unclear whether any of the bills up for consideration — most of them involving more restrictive background checks — would have made a difference in that case. Republicans have argued that background checks would not stop most mass shootings and would prevent some lawful gun owners from purchasing firearms. A second bill would extend a review period for background checks from three to 10 days.
As the government pushes millions of $1,400 stimulus checks out the door, some Americans could come up empty handed. The issue prompted Capitol Hill lawmakers to enter into a crossfire of sorts on Thursday over whether or not those checks can be garnished, as some looked to change the policy. That's after the Treasury Department and IRS announced on Wednesday that 90 million checks have gone out thus far by direct deposit. To remedy that, Brown called for the passage of a bill he proposed alongside fellow Democrats Sen. Ron Wyden of Oregon, Sen. Bob Menendez of New Jersey and Sen. Chris Van Hollen of Maryland. However, efforts to pass that legislation were blocked by Sen. Pat Toomey, R-Pa.Toomey argued that it was too late the change the legislation, and that altering the rules could protect husbands or fathers who refuse to pay alimony or child support.
cnbc.com(AP Photo/Andrew Harnik)WASHINGTON – In President Joe Biden's war against the coronavirus, former President Donald Trump hardly exists. The Democratic president ignored Trump in his first prime-time address to the nation, aside from a brief indirect jab. AdThe truth is that both Biden and Trump deserve some credit, though Biden stands to benefit from being in power during the nation’s emergence from the pandemic. Well it wasn't,” Biden said, taking credit for putting the federal government on a “war footing” after he took office. AdIn his early days in the White House, Biden’s team made headlines as they said publicly that he had inherited no plan to combat the pandemic.
The House recently passed legislation that would require background checks for gun purchases, a signature Democratic issue for decades. The two bills that passed the House last week would expand background checks on gun purchases, the first significant movement on gun control since Democrats took control of both chambers of Congress and the White House. That leaves gun-control advocates hoping that the politics of gun control have shifted enough that more Republicans may be open to legislation that advocates argue is widely popular with the American public. Republican Sen. Pat Toomey of Pennsylvania and Democratic Sen. Joe Manchin of West Virginia, a moderate, have worked together for years to find compromise on background checks. John Feinblatt, president of Everytown for Gun Safety, pointed in particular to Democratic wins in the 2018 midterms while running openly for gun control as evidence the politics are changing.
The House passed two bills Thursday to require background checks on all firearms sales and transfers and to allow an expanded 10-day review for gun purchases. While enhanced background checks are generally popular with the American public, even with some conservatives, Congress has so far not been able to find compromise on the issue. “These solutions will save lives.”President Joe Biden has called for Congress to strengthen gun laws, including requiring the background checks on all gun sales and banning assault weapons. AdThe second bill, which passed 219-210, would extend the review period for background checks from three to 10 days. While the House bills have Republican cosponsors and won a handful of GOP votes, most Republicans voted against them.
The Pennsylvania Republican made the comments on "Squawk Box" ahead of Tuesday morning's Senate Banking Committee hearing on retail investors and the GameStop trading frenzy that began in January. Not for me," Toomey told CNBC. Toomey said he appreciated how stock trading platforms like Robinhood have created a new class of investor. GameStop shares later plunged to under $40 by mid-February, although the stock has been in a rally again recently and was back over $200 apiece during Tuesday's session. According to Senate financial disclosures, one of his kids bought between $1,001 and $15,000 worth of GameStop shares on Jan. 27 and sold out of the position completely on Jan. 28.
cnbc.comThe state GOP chair, Lawrence Tabas, promptly emailed state party committee members to tell them he was planning a meeting to discuss the Senate’s action. That meeting — if it happens — is expected to involve a censure resolution, as a wave of county parties have already voted to censure Toomey. AdTabas and the party brass have kept silent this week, as Toomey supporters have begun to push back. A state committee member from Erie County, Jezree Friend, emailed members to try to talk them out of holding a censure vote. He refused to say whether he would vote for Trump until he voted an hour before polls closed, ultimately for Trump.
Backlash has been swift and unrelenting for the few Republicans in Congress who voted alongside Democrats in Donald Trump's second impeachment trial. Some of the seven senators who voted to convict Trump on the charge of inciting the deadly Capitol riot are facing censure and criticism from within the party. One Republican who voted to impeach Trump in the House was reportedly even denounced by members of his own family. Maine's Republican Party could censure Sen. Susan Collins over her vote to convict, the Bangor Daily News reported Monday. 3 House Republican, was censured by her state's GOP earlier this month after she voted to impeach Trump.
cnbc.com(AP Photo/Manuel Balce Ceneta)WASHINGTON – House Speaker Nancy Pelosi said Monday that Congress will establish an independent, Sept. 11-style commission to look into the deadly insurrection that took place at the U.S. Capitol. In a letter to Democratic colleagues, Pelosi said the House will also put forth supplemental spending to boost security at the Capitol. After former President Donald Trump’s acquittal at his second Senate impeachment trial, bipartisan support appeared to be growing for an independent commission to examine the deadly insurrection. AdInvestigations into the riot were already planned, with Senate hearings scheduled later this month in the Senate Rules Committee. An independent commission along the lines of the one that investigated the Sept. 11 attacks would probably require legislation to create.
The seven Republican senators who joined all 50 Democrats in voting to convict former President Donald Trump of inciting the Jan. 6 riot in the Capitol are now facing heat from conservatives in their home states. A meeting of the state GOP to formally censure the senator was postponed because of weather, the paper reported. Six of the seven Republicans will not be facing re-election next year, in the 2022 cycle. Each of the seven Republicans who voted to convict Trump has defended their decision to do so, in statements and in posts on social media. CNBC has reached out to each of the seven Republican lawmakers.
cnbc.comOne joked, "We’re going to Disney World!”Now acquitted in his second Senate impeachment trial, Trump is preparing for the next phase of his post-presidency life. And he's confronting a Republican Party deeply divided over the legacy of his jarring final days in office, culminating in the Jan. 6 storming of the Capitol. Searing video images of the day played on loop during his impeachment trial, which ended Saturday. Sen. Lindsey Graham, who spoke with Trump on Saturday night, acknowledged that Trump is “mad at some folks,” but also “ready to move on and rebuild the Republican Party” and “excited about 2022." That sharp rebuke from his once-loyal defender underscores how dramatically Trump's stock has fallen in Washington since his first impeachment trial just over a year ago.
Seven Republican senators voted to convict former President Trump on the charge of incitement to insurrection, joining Democrats to make it it a far more bipartisan vote than Mr. Trump's first impeachment trial. But something distinguishes most of the Republicans who voted to convict Mr. Trump — most of them aren't up for reelection soon. I voted to convict President Trump because he is guilty." I voted to convict President Trump because he is guilty. She added that Mr. Trump "had set the stage months" before Election Day and he "did everything in his power to stay in power."
cbsnews.comSen. Bill Cassidy, R-La., walks on Capitol Hill after the Senate acquitted former President Donald Trump in his second impeachment trial in the Senate at the U.S. Capitol in Washington, Saturday, Feb. 13, 2021. Trump was accused of inciting the Jan. 6 attack on the U.S. Capitol, and the acquittal gives him a historic second victory in the court of impeachment. Investigations into the riot were already planned, with Senate hearings scheduled later this month in the Senate Rules Committee. We needed more senators with spines.”AdMcConnell told Republican senators shortly before the vote that he would vote to acquit Trump. Beutler's statement late Friday that Trump rebuffed a plea from House Republican leader Kevin McCarthy to call off the rioters was ultimately entered into the trial record.
The House Democrats charged that Trump incited the violent insurrection, which left five dead, and the former president appeared to side with the rioters on the call. A few hours later, the Senate voted to acquit Trump, 57-43, the majority falling short of the two-thirds needed for conviction. The momentary chaos, and the House Democrats’ eventual retreat on witnesses, was emblematic of the prosecutors’ challenge throughout the trial. But “we overwhelmingly proved our case.”Several senators agreed — three of the seven Senate Republicans who voted to convict Trump had voted not to call witnesses. “The House managers did a masterful job,” he said after the final vote.
Seven Republican senators voted to convict former President Trump on the charge of incitement to insurrection, joining Democrats to make it it a far more bipartisan vote than Mr. Trump's first impeachment trial. But something distinguishes most of the Republicans who voted to convict Mr. Trump — most of them aren't up for reelection soon. Therefore, I have voted to convict," Burr wrote. I voted to convict President Trump because he is guilty." I voted to convict President Trump because he is guilty.
cbsnews.comThe Senate acquitted Trump in a 57-43 vote on the charge of inciting insurrection for his role in the deadly Jan. 6 Capitol riot. "President Trump also violated his oath of office by failing to protect the Capitol, the Vice President, and others in the Capitol. "Instead of preventing a dangerous situation, President Trump created one. "I was one of the 74 million Americans who voted for President Trump, in part because of the many accomplishments of his administration. The executive committee of the Louisiana Republican Party voted unanimously to censure Cassidy for his vote to convict Trump.
cnbc.comSen. Lisa Murkowski, R-Alaska, arrives at the start of the fifth day of the second impeachment trial of former President Trump, Saturday, Feb. 13, 2021 at the Capitol in Washington. (Stefani Reynolds/Pool via AP)WASHINGTON – Seven Republicans voted Saturday to convict former President Donald Trump in his Senate trial, easily the largest number of lawmakers to ever vote to find a president of their own party guilty at impeachment proceedings. AdAlso striking was the “guilty” vote by Cassidy, who was reelected in November from a deep-red state where GOP support is widespread. I voted to convict President Trump because he is guilty,” Cassidy said in a one-sentence statement issued after his vote to convict. He said he wouldn't vote against his own conscience “simply because it is politically convenient.”Romney’s “guilty” vote at Trump’s initial impeachment trial last February made him the first senator to ever vote to convict a president of the same party.
But that hope dimmed when word came Saturday before the trial resumed that Senate Republican leader Mitch McConnell would vote to acquit Trump. If Trump were convicted, the Senate could take a second vote to ban him from running for office again. AdA look at the Republicans whom Democrats are eyeing as they make final arguments in the case:THE FREQUENT TRUMP CRITICSRepublican Sens. AdThree other GOP senators have said they will not run again in two years, potentially freeing them up to vote against Trump and anger base voters in the party. The Republican leader’s views are closely watched and carry sway among GOP senators, and his decision on Trump is likely to influence others weighing their votes.
If Trump were convicted, the Senate could take a second vote to ban him from running for office again. While none of them are locks to vote for conviction, they have joined with Democrats twice to vote against GOP efforts to dismiss the trial. AdHEADED OUTPennsylvania Sen. Pat Toomey, who is retiring from the Senate in 2022, has also voted twice with Democrats to move forward with the trial. All three voted to dismiss the trial, but Portman says he still has an open mind about conviction. EYES ON McCONNELLSenate Republican leader Mitch McConnell has twice voted to dismiss the trial, indicating he will ultimately vote to acquit.
In this image from video, a security video shows Vice President Mike Pence being evacuated as rioters breach the Capitol, as House impeachment manager Del. Stacey Plaskett, D-Virgin Islands, speaks during the second impeachment trial of former President Donald Trump in the Senate at the U.S. Capitol in Washington, Wednesday, Feb. 10, 2021. Ad“On Jan. 6, President Trump left everyone in this Capitol for dead,” said Rep. Joaquin Castro, D-Texas, a prosecutor. “Greatly disturbing.”Trump is the first president to face an impeachment trial after leaving office and the first to be twice impeached. Trump's second impeachment trial is expected to diverge from the lengthy, complicated affair of a year ago.
While the Democrats have appealed to the senators’ emotions, Trump’s lawyers have tried to tap into raw partisan anger. REPUBLICANS TO WATCHSix Republican senators voted with Democrats on Tuesday not to dismiss the trial on constitutional grounds. AdCassidy was the only one who did not side with Democrats in a similar vote two weeks ago. He said after the vote Tuesday that he thought Democrats had a better argument and that Trump’s team had done a “terrible” job. He said he will watch the additional arguments as an impartial juror and then decide whether to convict.
What to watch as the trial kicks off:FIRST, AN EFFORT TO DISMISSTuesday’s proceedings will begin with a debate to dismiss the trial before it even begins. The effort to dismiss is expected to fail, allowing arguments in the trial to begin on Wednesday. They point to an 1876 impeachment trial of a secretary of war who had resigned and note that Trump was impeached before he left office. But the managers can ask for a Senate vote on calling witnesses if they so choose. A (LESS) CAPTIVE AUDIENCEAs they were last year, at Trump’s first impeachment trial, senators are expected to listen to every word of the arguments before they cast their votes.
In this image from video, David Schoen, an attorney for former President Donald Trump, speaks during the second impeachment trial of Trump in the Senate at the U.S. Capitol in Washington, Tuesday, Feb. 9, 2021. Though the trial now proceeds, that’s a legal issue that could resonate with Republicans eager to acquit Trump without being seen as condoning his behavior. Trump attorney David Schoen turned the trial toward starkly partisan tones, saying the Democrats were fueled by a “base hatred” of the former president. On the vote, six Republicans joined with Democrats pursue the trial, just one more than on a similar vote last week. Trump's second impeachment trial is expected to diverge from the lengthy, complicated affair of a year ago.
Fetterman will run for U.S. Senate, making the announcement Monday, Feb. 8, 2021 after kicking off an exploratory fundraising campaign last month that raised over $1 million. (AP Photo/Keith Srakocic)HARRISBURG, Pa. – Pennsylvania’s larger-than-life lieutenant governor, the 6-foot-8, bald and tattooed John Fetterman, will run for U.S. Senate, making the announcement Monday after kicking off an exploratory fundraising campaign last month that raised over $1 million. Another possibility is Jeff Bartos, a suburban Philadelphia real estate investor who started running for U.S. Senate before switching horses to become Fetterman's opponent for lieutenant governor in 2018. AdThe Senate seat in the presidential battleground is being left open after two-term Republican U.S. Sen. Pat Toomey announced in October that he would not run again. Considering that kind of disgrace to the Senate, his style “should be the last of our concerns," Fetterman said.
Under COVID-19 protocols senators will distance for the trial, some even using the visitors' galleries. “This trial is one way of having that difficult national conversation about the difference between dissent and insurrection," he said. Trump's defenders are preparing to challenge both the constitutionality of the trial and any suggestion that he was to blame for the insurrection. The trial was set to break Friday evening for the Jewish Sabbath at the request of Trump's defense team, and resume Sunday. Trump's second impeachment trial is expected to diverge from the lengthy, complicated affair of a year ago.
In a Senate split 50-50 by party, it would take 17 Republican senators voting with every Democrat in order to convict Trump. Trump's unprecedented second Senate impeachment trial will start on Tuesday. I'm ready to end the impeachment trial," he said Sunday. Trump's first impeachment trial before the Senate last year lasted about three weeks. 3 House GOP leadership spot, has called for the party to distance itself from the former president.
cnbc.comRepublican West Virginia Gov. Jim Justice told CNBC on Monday the pro-Trump riot at the U.S. Capitol last week made the country "look terrible" and he urged Americans to put aside their political affiliations. "What happened with the attack on our Capitol, with people who were just out of control, is despicable," Justice said on "Squawk on the Street." First elected as a Democrat, Justice switched to the GOP in 2017 at a rally alongside President Donald Trump. Justice sharply criticized Evans, who was charged with a two misdemeanors for disorderly conduct and entering a restricted area.
cnbc.comWashington — Congressional leaders on Sunday reached a deal on a $900 billion COVID-19 economic relief package that includes $600 direct payments to Americans and $300 in enhanced unemployment for the next 10 weeks. The extension provides time to draft the COVID relief package and add it to a $1.4 trillion spending bill to fund the government through September. The COVID relief deal also includes $25 billion in direct rental assistance and extends the eviction moratorium until January 31, the same day the moratorium on student loan payments ends. Lawmakers are combining the relief bill with the larger year-long $1.4 trillion spending package. Lawmakers were working through the weekend to reach a deal on government funding measure and the relief bill before the Christmas holiday, with several key programs set to expire by the end of the year.
cbsnews.comWashington — Congressional leaders on Sunday reached a deal on a $900 billion COVID-19 economic relief package that includes $600 direct payments to Americans and $300 in enhanced unemployment for the next 10 weeks. The extension provides time to draft the COVID relief package and add it to a $1.4 trillion spending bill to fund the government through September. The House and Senate convened Sunday afternoon and could vote on a relief and funding package by the end of the day. That extension expired at midnight Sunday, meaning lawmakers needed to extend the deadline further if votes on the relief bill stretch into Monday. Lawmakers are combining the relief bill with the larger year-long $1.4 trillion spending package.
cbsnews.comWashington — Senate Majority Leader Mitch McConnell on Sunday said Democrats and Republicans have "finalized a deal" on a $900 billion COVID-19 relief package. The disagreement threatened to derail talks over the massive $900 billion relief bill, which includes direct payments to taxpayers, expanded unemployment benefits and hundreds of billions of dollars in pandemic-related aid. The House and Senate convened Sunday afternoon and could vote on a relief and funding package by the end of the day. That extension expires at midnight Sunday, meaning lawmakers would need to extend the deadline further if votes on the relief bill stretch into Monday. Leaders are hoping to combine the relief bill with the larger year-long $1.4 trillion spending package.
cbsnews.comNegotiations over a coronavirus relief bill dragged into the weekend, with the clock ticking for Congress to provide legislation on urgently needed aid as well as an omnibus government spending measure. President Trump signed the hastily drawn continuing resolution passed by the House and the Senate on Friday night, extending the deadline for Congress to pass a funding bill for another 48 hours. Senate Majority Leader Mitch McConnell also said Congress must "conclude our talks, draft legislation, and land this plane." However, Democrats argue there is still need for these lending programs, and are accusing Republicans of allowing the economic outlook to worsen ahead of President-elect Joe Biden's inauguration. "I don't think this is going to be resolved anytime soon," Kennedy told reporters on Saturday.
cbsnews.comNegotiations over a coronavirus relief bill dragged into the weekend, with the clock ticking for Congress to provide legislation on urgently needed aid as well as an omnibus government spending measure. President Trump signed the hastily drawn continuing resolution passed by the House and the Senate on Friday night, extending the deadline for Congress to pass a funding bill for another 48 hours. Senate Majority Leader Mitch McConnell also said Congress must "conclude our talks, draft legislation, and land this plane." However, Democrats argue there is still need for these lending programs, and are accusing Republicans of allowing the economic outlook to worsen ahead of President-elect Joe Biden's inauguration. "I don't think this is going to be resolved anytime soon," Kennedy told reporters on Saturday.
cbsnews.comWashington — President Trump has signed a continuing resolution that will extend government funding through Sunday to allow negotiations over a government spending measure and a coronavirus relief bill to continue. Democratic House Majority Leader Steny Hoyer said Friday there would be no vote on the spending measure or the relief bill on Saturday. Lawmakers also wish to append a coronavirus relief bill to this omnibus measure, and congressional leaders are still negotiating that deal. The need to pass a relief bill is just as urgent as an overarching government spending bill. Meanwhile, top lawmakers have insisted for days that they are nearing a deal on a relief bill, even as time is running out to come to an agreement.
cbsnews.comWashington — President Trump has signed a continuing resolution that will extend government funding through Sunday to allow negotiations over a government spending measure and a coronavirus relief bill to continue. Democratic House Majority Leader Steny Hoyer said Friday there would be no vote on the spending measure or the relief bill on Saturday. Lawmakers also wish to append a coronavirus relief bill to this omnibus measure, and congressional leaders are still negotiating that deal. The need to pass a relief bill is just as urgent as an overarching government spending bill. Meanwhile, top lawmakers have insisted for days that they are nearing a deal on a relief bill, even as time is running out to come to an agreement.
cbsnews.comErin Scott | ReutersA last-minute fight over the Federal Reserve's lending powers has become the latest hurdle for lawmakers of both parties hoping to pass a $900 billion coronavirus stimulus bill. Though the atmosphere on Capitol Hill remained upbeat on the odds of a deal, Democrats are criticizing Sen. Pat Toomey, R-Pa., in the hopes he will drop stipulations about a new sticking point: the Fed's lending programs. If the Pennsylvania senator's language is adopted, it would ensure that the incoming administration won't be able to revive the Fed's emergency lending programs. "Undermining that authority could mean less lending to Main Street businesses, higher unemployment, and greater economic pain across the nation," he added. Sen. Pat Toomey, R-Pa., Bill Clark | CQ Roll Call | Getty Images
cnbc.comChris Christie said Sunday that the president should end his legal fights challenging the results of the election and concede to president-elect Joe Biden. The Trump campaign continues to question the integrity of the election through a series of legal actions across battleground states. On Saturday a federal judge in Pennsylvania dismissed a lawsuit by Trump's campaign that sought to block that state's certification of millions of votes. The Trump campaign and its allies now have lost or withdrawn more than 30 lawsuits that were part of that effort. The former governor and federal prosecutor slammed Trump's legal team as a "national embarrassment."
cnbc.comPeople react as media announce that Democratic U.S. presidential nominee Joe Biden has won the 2020 U.S. presidential election, in Los Angeles, California, U.S., November 7, 2020. Patrick T. Fallon | ReutersIt is now likely that former Vice President Joe Biden will become the 46th president of the United States. Though it may not feel that way right now, that outcome would mark a triumph of historic significance for the country's democratic process and institutions. Yet President Grant brought together a divided country and healed the post-war economy, and his new Department of Justice prosecuted the Ku Klux Klan. The Republican gains in the House of Representatives and the party's likely continued hold on the Senate majority would present both an obstacle and an opportunity for a Democratic president.
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