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LIVE: Pelosi Holds Weekly News Conference Amid Growing Optimism for Covid Relief
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December 4, 2020
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Dec 4, 202035:31Now Playing(Dec. 4) Watch live as House Speaker Nancy Pelosi holds a press conference on Capitol Hill on Friday, December 4, 2020, in Washington, D.C.
Prospects for a pandemic relief package before the end of the year grew substantially as senior Republicans warmed to the idea of using a $908 billion proposal from a bipartisan group of lawmakers as a basis for a deal.
The plan outlined by Republican and Democratic lawmakers in the House and Senate has emerged as the first real chance for a compromise that has eluded party leaders and the White House for months.
Still, Senate Majority Leader Mitch McConnell hasn’t publicly thrown his support behind the plan, after having won President Donald Trump’s backing for his own, narrower proposal. That stance risks leaving him increasingly isolated as support shifts among Republicans eager to get some kind of agreement.
With the clock ticking down to the year-end holiday break, legislators got a stark warning about the potential cost of inaction Friday morning, with a much weaker-than-expected November employment report. Thousands of Americans left the labor force amid the spread of Covid-19.
The November jobs report on Friday showed that payrolls rose by 245,000, weaker than all but six of the 78 forecasts in Bloomberg’s survey. U.S. stock futures retained gains, and Treasury yields headed higher, as some investors pointed to rising chances of a stimulus deal.
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