Senate rejects vote on push for $2K checks

WASHINGTON (AP) — Senate Majority Leader Mitch McConnell shut the door Wednesday on President Donald Trump’s push for $2,000 COVID-19 relief checks, declaring Congress has provided enough pandemic aid as he blocked another attempt by Democrats to force a vote. The GOP leader made clear he is unwilling to budge, despite political pressure from Trump […]

Senate GOP blocks swift vote on $2K stimulus checks

WASHINGTON (AP) — Senate Majority Leader Mitch McConnell on Tuesday blocked Democrats’ push to immediately bring President Donald Trump’s demand for bigger $2,000 COVID-19 relief checks up for a vote, saying the chamber would “begin a process” to address the issue. Pressure is mounting on the Republican-led Senate to follow the House, which voted overwhelmingly […]

Biden to nominate Yellen, highlight diversity on econ team

WILMINGTON, (AP) — President-elect Joe Biden on Monday announced his senior economic team, including his plans to nominate the first woman to head the Treasury Department as well as several liberal economists and policy specialists who established their credentials during the previous two Democratic administrations. In a statement, Biden said he would nominate Janet Yellen, […]

US economy grew at 33% rate in third quarter

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WASHINGTON (AP) — The U.S. economy grew at a record 33.1% annual rate in the July-September quarter but has yet to fully rebound from its plunge in the first half of the year — and the recovery is slowing as coronavirus cases surge and government aid dries up. The Commerce Department’s estimate Thursday of third-quarter […]

Social Security checks to rise 1.3% in 2021

WASHINGTON (AP) — Social Security recipients will get a modest 1.3% cost-of living-increase in 2021, but that might be small comfort amid worries about the coronavirus and its consequences for older people. The increase amounts to $20 a month for the average retired worker, according to estimates released Tuesday by the Social Security Administration. That’s […]

White House ups virus aid offer, resumes talks

WASHINGTON (AP) — The White House is boosting its offer in up-and-down COVID-19 aid talks Friday in hopes of an agreement before Election Day, even as President Donald Trump’s most powerful GOP ally in the Senate said Congress is unlikely to deliver relief by then. Trump on Friday took to Twitter to declare: “Covid Relief […]

In about-face, Trump seeks to salvage parts of virus aid

WASHINGTON (AP) — The White House on Wednesday tried to salvage its favorite items lost in the rubble of COVID-19 relief talks that President Donald Trump blew up, with his administration pressing for $1,200 stimulus checks and a new wave of aid for airlines and other businesses hard hit by the pandemic. In a barrage […]

Trump halts COVID-19 relief talks until after election

WASHINGTON (AP) — President Donald Trump abandoned COVID-19 relief talks on Tuesday, saying they won’t resume until after the election. The move came as the chairman of the Federal Reserve said that further fiscal intervention is needed to prevent the economy from spiraling downward. Trump tweeted that House Speaker Nancy Pelosi was “not negotiating in […]

Fed’s Powell: Lack of further stimulus imperils recovery

WASHINGTON (AP) — Strong financial support from the government and the Federal Reserve have spurred a solid recovery from the pandemic recession, but the rebound may falter without further aid, Fed Chair Jerome Powell warned Tuesday. Powell said that government support — including expanded unemployment insurance payments, direct payments to most U.S. households and financial […]

Trump, McConnell huddle; virus aid talks at risk of collapse

WASHINGTON (AP) — President Donald Trump huddled at the White House Thursday with the Senate’s top Republican, searching for a way forward on vital COVID-19 rescue money, while Trump’s top bargainers returned to Capitol Hill amid increasing concern that negotiations with Democrats might collapse. The impasse in the negotiations is putting at risk more than […]