GLOBAL BUREAUCRACY

Fight over Fed powers stalls USD 900 billion aid plan

Agency,
20/12/2020   0 Comments

 An arcane battle over emergency Federal Reserve powers foiled efforts on Saturday to lock down an agreement on an almost USD 1 trillion COVID-19 economic relief package.

 
Saturday's deadlock was just the latest stumble in a partisan, months-long fight over pandemic relief and the lack of progress is backing lawmakers once again up against a government shutdown deadline Sunday night.
 
Lawmakers on both sides said a provision by Sen Pat Toomey, R-Pa, that would curb emergency Federal Reserve powers was the sticking point. Republicans are insisting on the Toomey plan, while Democrats are adamantly against it.
 

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