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Trump signs funding bill, averting government shutdown

President Trump has signed a temporary government funding bill. Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Jessica Smith discuss.

Video Transcript

ALEXIS CHRISTOFOROUS: The one thing investors don't have to worry about this morning-- a government shutdown. Very early this morning President Trump signed off on a short-term spending plan that will keep the federal government running into early December. But another round of stimulus, well that's another story with the House and Democrats still pretty far apart and more talks set for today.

Our Jessica Smith has been following it all. She joins us now. So, Jess, where do things stand at the moment?

JESSICA SMITH: Well, negotiators are going to give it another go today. They'll be making a last-ditch effort here to get a deal before the election. Democratic leadership postponed a vote on the updated Heroes Act at the last minute yesterday to try and give both sides more time to come to a deal.

Right now they are still pretty far apart on this. Democrats are still at $2.2 trillion, and the White House Chief of Staff Mark Meadows told reporters yesterday that the latest White House offer is above $1.5 trillion. But he says anything that starts with a two is going to be a problem for Republicans.

Now Bloomberg reports the White House latest offer includes about $400 per week in enhanced unemployment benefits. That is up from the 300 that the White House had offered previously, but it is still below what Democrats are pushing. They're pushing $600 a week.

Another sticking point is state and local aid. In the updated Heroes Act, Democrats are asking for $436 billion. Reportedly Republicans are now saying that they could offer $250 billion, so that's more than $100 billion more than what they had offered prior but still not nearly what Democrats are wanting to see. So even if Mnuchin and Pelosi are going to come to a deal, even if they're able to get that done-- and that still would require a lot of work-- it's not clear that Majority Leader Mitch McConnell would be onboard. Senate Republicans could still be a big problem here. There are still a lot of moving pieces. We are set to hear from Speaker Pelosi later this morning in her weekly press conference, so we'll be watching for any sign of progress.

BRIAN SOZZI: And, Jessica, who else is watching for signs of progress? Airline executives.

JESSICA SMITH: Yeah, exactly. And we heard from White House Chief of Staff Mark Meadows yesterday. He told reporters there is that sense of urgency as you have the airlines set to start making layoffs today. The White House proposal, according to Meadows, has $20 billion in aid for airlines. The Democratic proposal has $25 billion. So again, we'll be watching to see what they come up with, if they're able to come to an agreement what number the airlines will get there.