President Trump, Nancy Marshall Ganz, Congress discussed on Morning Edition
C s I. P. C. I'm David Brancaccio. President. Trump released the video last evening, saying the $900 billion covert relief bill passed by Congress is a disgrace needs to be reconfigured. And that $600 a person is not enough. Marketplaces. Nancy Marshall Ganz joins us from Washington Nancy will this Delay the relief checks. Possibly David. But remember, Trump did not specifically threatened to veto the covert relief bill. If he were to sign it. The checks could go out very soon. Treasury Secretary Steve Mnuchin said earlier this week. The money would land in Americans Bank accounts as soon as next week. House Speaker Nancy Pelosi tweeted last night. Democrats could vote this week on a bill that would increase the relief payments to $2000. That vote could come tomorrow. But then the Senate would have to approve it unanimously, which is unlikely. And what happens if Trump vetoes the bill? Both the House and Senate approved the Cove in relief package by veto proof majorities so Congress could override the president's veto with a two thirds majority in each chamber, But those votes would have to be scheduled. And many members of Congress have already gone home for the holidays. Uh, so realistically, if the president doesn't sign this bill right away, people won't see those checks for a while. Right. And even if President Trump does nothing if he doesn't veto it, but also doesn't sign it. It would still take 10 days for the bill to become law without his signature. Nancy. Thank you. The stock market is calm about this at the moment, perhaps based on history that Trump has threatened to veto spending legislation in the past, but has not done so. The SNP future is up 3/10 percent now. The British pound is up in a dollar 34 this morning with the possibility that a deal to smooth the U. K's exit from the EU could happen today. This morning, We'll get the University of Michigan survey on how consumerist people are feeling during the short days amid pandemic marketplaces Mitchell Hartmann has that even with positive news about vaccinations, most of the news about the economy and Covitz spread has been downbeat lately, says Robert Frick, at Navy Federal Credit Union. Rachel spending is decreasing, and the Times are not good. Even with the federal aid package. We're looking at a few bleak months. How consumers feel about the future depends a lot on how pandemic shutdowns and layoffs of affected them, says Mark Camera at bankrate dot com. There are a lot of people who are doing just fine Blue been able to work from home. They may own their home. They have substantial assets. They're not overly worried about the future. Other workers are more anxious. Those who have really been on the frontlines of these industries hurt most during the pandemic, leisure and hospitality retail and they are more financially fragile, he says. A recent Bankrate survey found that half of American households have lost income in the pandemic. I'm Mitchell Hartman for Marketplace. Marketplace.