About This Source - Bloomberg QuickTake: Now
Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.
It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.
Recent from Bloomberg QuickTake: Now:
Bloomberg Quicktake: Now published this video item, entitled “Biden Faces Tougher Obstacles for Broad Relief Bill Sequel” – below is their description.
President Joe Biden’s soon-to-be-unveiled longer-term economic stimulus package is set for far tougher obstacles in Congress than the pandemic-relief bill that’s on the verge of squeaking through without a single Republican’s backing.
The “build back better” program that the White House says will be announced after Biden signs the $1.9 trillion aid bill — heading for final passage as soon as Tuesday — will be far more expansive than its predecessor.
Spanning measures to address infrastructure, climate, health care, inequality and much more, and costing trillions of dollars over a decade, the initiative is far more complex. And Republican opposition to tax hikes will make it all the harder to fund the initiative.
Biden has the same three options as for his first package: go without the GOP on a bill that’s as expansive as moderate Democrats and Senate rules will allow, dramatically scale back ambitions to lure at least 10 Senate Republicans, or split the program up and pursue a combination of approaches.
At stake for Biden is achieving the kind of sustained, longer-term fiscal support for the economy that the Obama administration lacked in the wake of the last recession. The Organization for Economic Cooperation and Development on Tuesday more than doubled its 2021 U.S. growth forecast as it incorporated the latest aid package.Bloomberg Quicktake: Now YouTube Channel
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In This Story: Democrats
“Democrats” usually refers to the The Democratic Party of the United States – one of the two major political parties in the country, along with its main, historic rival, the Republican Party.
It was founded on 8th January 1828 and has its contemporary headquarters in Washington, D.C., United States. The present leadership is Nancy Pelosi (Party leader) and Jaime Harrison (Party chair).
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In This Story: Republicans
The Republican Party, sometimes also referred to as the GOP (Grand Old Party), is one of the two major contemporary political parties in the United States, along with its main, historic rival, the Democratic Party.
It was founded on 20th March 1854 and has its contemporary headquarters in Washington, D.C., United States. The present leadership is Ronna McDaniel (chairwoman).