U.S. Senate Leader McConnell Says It Is Practically Impossible For Congress To Pass Supplemental Before X-Mas; There Won't Be A Deal On Supplemental Until Biden And Republicans Reach Agreement; Talks On Supplemental Require "Full Engagement" From Biden
Portfolio Pulse from Benzinga Newsdesk
U.S. Senate Leader McConnell stated that passing a supplemental bill before Christmas is practically impossible without an agreement between Biden and Republicans. He emphasized that successful talks on the supplemental require 'full engagement' from President Biden.
December 12, 2023 | 7:28 pm
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NEGATIVE IMPACT
McConnell's statement on the improbability of a supplemental bill before Christmas may create uncertainty in the market, potentially affecting the SPY ETF which tracks the S&P 500.
The delay in passing a supplemental bill could lead to short-term market uncertainty as investors adjust to the lack of additional fiscal support. This uncertainty can negatively affect the broader market, including the SPY ETF, which is a proxy for the U.S. stock market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70