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Bipartisan Stimulus Proposal Punts On Key Areas

US

The bipartisan congressional group has released a detailed summary of their $908bn stimulus proposal, and in general it reveals little more than we knew previously via various reports. It includes:

  • Extends expiring unemp provisions
  • supplemental unemployment insurance to April 2021, $300/wk
  • Increases PPP to $300bn
  • Extends assistance to airlines
  • Grants for COVID vaccine

HOWEVER, while it does include $160bn for state/local gov'ts in line with Democrat demands, this is merely "the basis for good faith negotiations", the same for liability provisions demanded by Republicans. So some of the most contentious issues remain open to negotiation.

Senate's McConnell saying separately that his Democratic counterparts are "brushing off" Republican proposals. Equities hitting session lows.

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