Post Politics Now: Senate poised to work through weekend to advance economic package
Today, Senate Democrats are poised to work through the weekend to advance a major health-care, climate and deficit-reduction package following an agreement struck with Sen. Kyrsten Sinema (D-Ariz.) that alters some tax provisions in the bill. Senate Majority Leader Charles E. Schumer (D-N.Y.) said he believes all 50 members of the Democratic caucus are on board. After consideration of amendments, a final Senate vote could come early next week. The House would need to return to Washington to pass the legislation.
President Biden, who continues to recover from a “rebound” case of the coronavirus, is scheduled to sign two bipartisan bills that target those who commit fraud in pandemic-era small-business relief programs.
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On our radar: A new jobs report for Biden to tout
President Biden will no doubt have something to say Friday about the latest jobs report showing the labor market continuing rapid growth in July despite some fears of a recession. The report by the Bureau of Labor Statistics showed employers adding 528,000 jobs, while the unemployment rate edged down to 3.5 percent.
Biden and his party have been eager to promote positive economic news ahead of the upcoming midterm elections in which Republicans are seeking to hammer Democrats on inflation and related issues. Expect Biden to note that the country has now fully recovered all the jobs that were lost early in the pandemic.
The Post’s Lauren Kaori Gurley has details on the latest report:
The labor market has shown little signs of cooling off, proving to be a pillar of strength for an economy facing strong head winds.Other indicators, especially inflation at 40-year highs and six months of negative economic growth paint a less rosy picture. The financial markets have lost trillions of dollars in value this year, and one measure of consumer sentiment hit a record low in June.
You can read the full story here.
