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Biden policies - COVID/immigration

Oh, it’s not about the short term market interpretation to me...but the analysis of the politics seems sadly plausible.
 
Umm...I’m not blaming anything to do with several hours of today’s market on Biden.
 
This is what I’m more concerned about...

On Wall Street, analysts viewed Thursday’s announcement as the starting point for negotiations and political wrangling that will almost certainly produce a more modest package.

Democrats have said they would like to pass the plan through the Senate in a “regular order” vote, which would require 60 votes. But after the Democratic victories in Georgia’s Senate runoff elections earlier this month Democrats will hold only 50 seats in the Senate.

“We do not expect ten Republicans to support a $1.9 trillion relief package,” wrote analysts with Goldman Sachs.

That leaves a so-called budget reconciliation vote in the Senate that would require only Democrats to win a simple majority. But parliamentary rules limit size and type of bills that can be passed using the budget reconciliation process.

“Our back-of-the-envelope calculation suggests that more than half of the spending proposals put forward last night do not meet the budget reconciliation requirements,” wrote analysts with Strategas Research.
 
Biden has floated his immigration reform ideas.

8 year pathway to citizenship for anyone who entered before Jan 1st with a green card after 5 years.

Dreamers would be eligible for immediate green card.

Reunification program.

Halt to deportations until reforms are in place.

Increase in refugee and visa acceptances.

Increased border security via technology.

Removal of "Muslim bans".

https://www.washingtonpost.com/politics/biden-immigration-plan/2021/01/18/f0526824-59a8-11eb-a976-bad6431e03e2_story.html
 
[h=1]ICE deportations fell in April to lowest monthly level on record, enforcement data shows[/h]
President Biden and his Department of Homeland Security team have issued new rules to rein in ICE officers, who were afforded wide latitude under the Trump administration to make arrests and were encouraged to boost deportations.


Biden has resisted calls from activists and some lawmakers to abolish ICE, and his top DHS officials say they will reform the agency and restore its reputation by focusing on criminals who pose public-safety or national security threats. In private, ICE officials say their work is being essentially abolished through restrictions on their ability to make arrests and deportations.

Since Biden changed ICE’s priorities and ordered a 100-day deportation moratorium, interior arrests by ICE officers have plunged more than half, records show. A federal judge blocked the 100-day moratorium in February, and the Republican governors of several states are suing the Biden administration to force a reversal of his ICE directives.


The latest federal data shows ICE has recorded about 37,000 deportations during the past seven months, putting the agency on pace for fewer than 55,000 deportations for the 2021 fiscal year. It would be the first time that figure has fallen below 100,000.


“This administration has de-emphasized the likelihood that people would get arrested if they aren’t a threat to public safety or recently crossed the border, so they are not going to have strong removal numbers,” said Ronald Vitiello, who was ICE’s acting director in 2018 and 2019.

“That’s part of a signal being sent — that immigration enforcement isn’t a priority for this team,” Vitiello said. “The odds of being arrested just for being in the country illegally were always extremely low, and now they’ve basically ruled it out by policy.”
 
An heartwarming story…


The larger lesson of Tani’s story is simple: Talent is universal, while opportunity is not. In Tani’s case, everything came together. His homeless shelter was in a school district that had a chess club, the school waived fees, he had devoted parents who took him to every practice, he won the state tournament (by a hair) and readers responded with extraordinary generosity.

But opportunity shouldn’t require a perfect alignment of the stars. Winning state chess tournaments is not a scalable solution to child homelessness.

My challenge as a columnist is that readers often want to help extraordinary individuals like Tani whom I write about, but we need to support all children — including those who aren’t chess prodigies. That requires policy as well as philanthropy, so let me note: President Biden’s proposed investments in children, such as child tax credits and universal pre-K, would revolutionize opportunity for all struggling children.

Maybe we can be inspired by the wisdom of America’s newest chess master. I asked Tani how he feels when he loses.

“When you lose, you have made a mistake, and that can help you learn,” he told me. “I never lose. I learn.”
 
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