10 things you need to know today: December 20, 2020

Congress nearing COVID-19 compromise after resolving sticking point, Preparation for Moderna vaccine shipments under way, and more

Chuck Schumer.
(Image credit: ANDREW CABALLERO-REYNOLDS/AFP via Getty Images)

1. Congress nearing COVID-19 compromise after resolving sticking point

The Senate appeared to reach a major breakthrough in COVID-19 relief negotiations late Saturday, and Senate Minority Leader Chuck Schumer (D-N.Y.) said he believes both the House and Senate will vote on a package Sunday so long as "nothing gets in the way." Schumer and Sen. Pat Toomey (R-Pa.) were finishing up details of a compromise that seemingly resolved a sticking point about the Federal Reserve's ability to set up emergency lending programs without congressional approval, which Toomey wanted to restrict. Under the deal, the central bank wouldn't lose that power, but its options would be narrower. The Fed wouldn't be able to replicate programs identical to the ones it started in March unless Congress signed off on them. A spokesman for Senate Majority Leader Mitch McConnell (R-Ky.) said the resolution means "we can begin closing out the rest of the package to deliver much-needed relief to families, workers, and businesses."

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Tim O'Donnell

Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.