The daily business briefing: October 1, 2020

Trump signs deal avoiding shutdown as coronavirus relief talks continue, American and United to cut 32,000 jobs, and more

American Airlines planes
(Image credit: Getty Images)

1. Trump signs bill averting shutdown

President Trump early Thursday signed a bill keeping the government funded through Dec. 11, avoiding a partial government shutdown. The bill became law after a midnight deadline, but no government operations were expected to be disrupted. The bipartisan bill was quickly approved by the Senate after receiving White House approval last week. House Speaker Nancy Pelosi (D-Calif.) and Treasury Secretary Steven Mnuchin failed to reach a compromise on another key spending bill — the new coronavirus relief package. Pelosi and Mnuchin met Wednesday and plan to continue discussions. House Democrats postponed a Wednesday vote on their $2.2 trillion proposal to allow more time for negotiations. Republicans want to spend less but vulnerable lawmakers from both parties are pushing for a deal before Election Day.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.