“The next five weeks likely represent the final air pocket for unified Democratic government to build momentum on Biden’s stalled fiscal agenda.' U.S. lawmakers return to Washington next week:
U.S. lawmakers return to Washington next week in what some analysts see as the beginning of a critical period for President Joe Biden’s agenda — and the markets.
Now read: Biden officials warn that lack of additional COVID aid will mean not enough vaccine doses, reduced testing capacity Facing what appears to be a daunting outlook for the midterm elections, how Democrats try to achieve their goals is the big question. The party could again try the budget reconciliation process, which allows tax and spending legislation to pass with just 50 senators — thus allowing Democrats to bypass the need for any GOP votes. Whether Democrats can pass another such bill “will be determined in the next five weeks,” writes Krueger.
“The era of massive spending is coming to an end,” Valliere writes in what he sees as market SPX, -2.77% TMUBMUSD10Y, 2.903% implications. What’s more, the analyst sees items like a capital-gains tax hike unlikely to pass.
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