President Joe Biden cited a weak jobs report in his push for a $1.9 trillion relief package passed by the Senate early Friday.
“It is very clear our economy is still in trouble,” Biden said. “I know some in Congress think we’ve already done enough to deal with the crisis in the country. Others think that things are getting better and we can afford to sit back and either do little or do nothing at all. That’s not what I see.”
Meanwhile, House Democrats are hustling to pass the American Rescue Plan with few changes, including $1,400 direct checks to unaffluent Americans, along with other expansions of aid. Although the Senate passed a version of the bill, leaders are working on a companion bill to match House legislation.
Earlier today, the Labor Department’s reported that the economy added only 49,000 jobs in January – just 6,000 in the private sector. At that rate, the labor market remains 10 million jobs below pre-pandemic levels. Supplemental unemployment checks are set to expire in March.
The Senate approved the budget bill through a narrow party-line vote, 51-to-50, with Vice President Kamala Harris casting the tiebreaking vote after more than 15 hours of debate.
COVID Deaths, Product Shift Slow Lincoln Financial In 4Q
Prudential Pivots Away From Annuities, CEO Lowery Says
Advisor News
- The overlooked retirement security risk that must be addressed
- What advisors should know about hedge funds in retirement planning
- Retirement control is top success measure for middle class, ACLI says
- Industry groups applaud House passage of Financial Exploitation Prevention Act
- Younger workers more likely to be eligible for a retirement plan after changing jobs
More Advisor NewsAnnuity News
- Malibu Life Holdings Completes Acquisition of TruSpire, Establishing Malibu USA and Accelerating Entry into the U.S. Retail Annuity Market
- Why job boards are failing insurance agencies
- MassMutual Ranks No. 100 on the 2026 Fortune 500® List
- What’s fueling record annuity growth?
- Jackson Named InvestmentNews 2026 Annuities Provider of the Year
More Annuity NewsHealth/Employee Benefits News
- Help navigating options available
- Medicare Assistance Program can help people navigate options
- Millions of people drop ACA coverage amid jump in prices
Millions drop ACA coverage amid price jump. Did fraud inflate signups? (copy)
- Former city DPW director wants opportunity to 'defend my actions' in light of separation agreement
- CDPHP, MVP Health Care among insurers seeking rate increases
More Health/Employee Benefits NewsLife Insurance News
- NAIFA praises House committee approval of Clarity for Compensation Act
- PHL Variable liquidation pushed out to 2027, Connecticut regulators say
- ‘Recession-Proof’ Insurance Is Trending. Safety Net or Scam?
- Winged Keel Group Expands National Presence and PPLI Leadership, Welcomes SBSI, Inc. (dba NFP Insurance Solutions)
- MassMutual Ranks No. 100 on the 2026 Fortune 500® List
More Life Insurance News