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Senate Votes Postponed for Two Weeks: What are the Implications?

Summary:
Confirmation Hearings for Amy Coney Barrett Will Go AheadThree Republican Senators who attended a White House rose Garden party for Trump's Supreme Court nominee Amy Coney Barrett have contracted Covid.That would leave Barrett two votes short of confirmation. However, But McConnell said confirmation hearings for Supreme Court nominee Amy Coney Barrett would go ahead as planned starting Oct. 12 even though Scheduled Votes are Cancelled for Two Weeks.Senators Mike Lee of Utah, Thom Tillis of North Carolina and Ron Johnson of Wisconsin had all tested positive for COVID-19 as of Saturday afternoon, after attending a Rose Garden event last Saturday at which most attendees did not wear face masks.Supreme Court ImplicationsThe Senate makeup is 53 Republican to 47-Democrat. The vote total at

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Confirmation Hearings for Amy Coney Barrett Will Go Ahead

Three Republican Senators who attended a White House rose Garden party for Trump's Supreme Court nominee Amy Coney Barrett have contracted Covid.

That would leave Barrett two votes short of confirmation. 

However, But McConnell said confirmation hearings for Supreme Court nominee Amy Coney Barrett would go ahead as planned starting Oct. 12 even though Scheduled Votes are Cancelled for Two Weeks.

Senators Mike Lee of Utah, Thom Tillis of North Carolina and Ron Johnson of Wisconsin had all tested positive for COVID-19 as of Saturday afternoon, after attending a Rose Garden event last Saturday at which most attendees did not wear face masks.

Supreme Court Implications

The Senate makeup is 53 Republican to 47-Democrat. 

The vote total at present is 51 for and 49 against. Sue Collins (R-Maine) and Lisa Murkowski (R-Alaska) are in favor of letting the next president decide.

Unless two or more additional Republican senators cannot vote on Barrett or decide against her, she will be confirmed. 

See Trump Taps Amy Barrett to Replace Ginsburg on the Supreme Court for details.

Rush Job

Clearly McConnell intends to ram Barrett through come hell or high water. 

The tactic may easily cost the Republicans more Senatorial seats in November.

What About Airlines?

Good question. Although Supreme Court confirmation hearings go on schedule, voting doesn't.

That includes any covid package or airline bailout package.

The Airlines, Allstate, and Shell Announce Mass Layoffs

On October 1, I reported The Airlines, Allstate, and Shell Announce Mass Layoffs

Just in Time for the Election (or a Bailout)

 American and United Airlines will bring back workers if they get more aid. Otherwise, Say Goodbye to 32,000 Jobs. 

Airline Deal No Longer Imminent

On Friday, House Speaker Nancy Pelosi said a long-awaited deal to provide another $25 billion in aid for the airlines was “imminent.”

She asked airlines to halt layoffs. 

It is uncertain if Pelosi really had a deal or was just posturing.

However, it's easy to say a deal is not imminent if there will not be a vote for another two weeks. 

The vote postponement likely kills any deals on anything given the election would then be a mere two to three weeks away.

Sobering Thought

Mish

Mike Shedlock
Mike Shedlock (Mish) is a registered investment advisor representative for SitkaPacific Capital Management (http://www.sitkapacific.com/). Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

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