GOVERNMENT SPENDING POLICY – UNITED STATES

Biden Covid rescue plan clears Senate

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Original article by Michael Mathes
The Australian – Page: Online : 8-Mar-21

The US Senate has approved President Joe Biden’s US1.9 trillion ($2.5 trillion) relief package by 50 votes to 49 vote after much negotiation and a marathon voting session. It will now go back to the House of Representatives, where the Democrats have a majority and where it is expected to be adopted. The legislation provides stimulus cheques of $US1,400 for most Americans, along with $US41 billion for COVID-19 vaccine distribution and $US49 billion for increased COVID testing, tracing and research. The bill also allocates $US350 billion to state and local governments and $US130 billion to schools.

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CEOs eye boost in Biden binge

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Original article by Glenda Korporaal
The Australian – Page: 13 & 18 : 18-Jan-21

Australian businessman Andrew Liveris says the incoming Biden administration is likely to pursue capital expenditure initiatives worth between $US2trn and $US4trn over the next several years. Liveris says this may generate opportunities for Australian companies, particularly in areas that are likely be a focus for Joe Biden, such as clean energy and associated infrastructure. Macquarie Specialised Asset Management chairman Tony Shepherd in turn says Biden administration’s stimulus program will be good for the global economy, including Australia. However, some business leaders have expressed concern about any move to roll back the Trump administration’s corporate tax cuts.

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UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, MACQUARIE SPECIALISED ASSET MANAGEMENT LIMITED

World hunkers down for fight against virus

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Original article by David Rogers
The Australian – Page: 29 : 6-Mar-20

Investors have responded positively to the announcement of economic stimulus measures in Australia and the US in response to the coronavirus. Wall Street and sharemarkets across the Asia-Pacific region rallied on 5 March, while the yield on 10-year Australian government bonds rose six basis points to 0.78 per cent. Meanwhile, financial markets expect further official interest rate cuts in both Australia and the US in coming months.

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