January 22, 2020

Budget and Farm Bill; Regulations; MF Global; and Trade

Categories: Audio /Budget /Farm Bill /Trade

Budget and Farm Bill Issues

Janet Hook and Naftali Bendavid reported in today’s Wall Street Journal that, “Congressional leaders—fearful of voters’ wrath over Washington’s bickering and brinkmanship—stepped back Thursday from a possible government shutdown, clearing the way for at least a short-term extension of a payroll tax cut that is set to expire at year’s end.

“The shift marked a dizzying change in tone from the contentious atmosphere that prevailed just a day earlier. Republican and Democratic leaders returned to the bargaining table and struck a deal on a $1 trillion spending bill to keep the government operating after Friday.

A deal was harder to come by on Congress’ second quest, which is to agree on a yearlong extension of the payroll tax cut and of expiring unemployment benefits. But the chances of keeping the tax cut in place at least temporarily improved as Democratic officials said they were preparing a fall back to a two-month extension if they fail to reach a longer-term agreement in the coming days.”