This decision reinforces reconciliation cannot be used as a vehicle to pass major legislative change by either party on a simple majority vote.
In a blow to Democrats, the Senate parliamentarian ruled the chamber cannot include Mr. Biden’s proposed $15/hr minimum wage his $1.9-T VirusCasedemic idea he wants to pass without Republican support.
Democrats and progressives hoped to include the minimum wage increase in the legislation to help cushion the economic blow of the VirusCasedemic chaos and gift money to low-wage workers who have spent months on the front lines of the health crisis as essential workers.
Mr. Biden is “disappointed in the decision,” a White House spokesperson said in a statement, and “will work with leaders in Congress to determine the best path forward because no one in this country should work full time and live in poverty.”
Thursday, the benchmark US stock market indexes finished at: DJIA -559.85 to 31402.01, NAS Comp -478.54 to 13119.46, S&P 500 -96.09 to 3829.34
Volume: Trade on the NYSE came in at 1.2-B/shares exchanged
HeffX-LTN’s overall technical out look on the major US stock market indexes is still Bullish with a Very Bullish bias, the trend is North.
- Russell 2000 +11.4% YTD
- NAS Comp +1.8% YTD
- S&P 500 +2.0% YTD
- DJIA +2.6% YTD
Looking Ahead: Friday, Investors will receive Personal Income and Spending for January, PCE Prices for January, the final University of Michigan Index of Consumer Sentiment for February, and Adv. Intl. Trade in Goods, Retail Inventories, and Wholesale Inventories for January.
Have a healthy weekend, Keep the Faith!