The Senate returns from recess today and the House of Representatives is set to return on November 16.
The question on everybody’s mind is: will lawmakers come together to pass a new stimulus package?
Many people speculate that given how divided lawmakers are right now, if something does pass it will likely be a much smaller bill than anticipated.
“A divided government, with Democrats controlling the White House and Republicans the Senate, is likely to mean a smaller fiscal stimulus package than had been anticipated,” Mark Haefele, chief investment officer at UBS Global Wealth Management, said.
At one point, Republicans seemed on board with passing a bill as large as $1.9 trillion but I would hardly expect that to happen now that the election has gone this way.
But beyond the lawmakers, one has to wonder what President Trump will attempt over the next few weeks through January.
Right now, his administration has been focused on filing a number of legal actions in various states contesting the outcome of the election.
Many of these lawsuits have not had much of an effect and there is a lot of doubt that even if some rulings come down in Trumps’ favor (such as those requiring segregation of ballots) they won’t actually alter the outcome of the election in key states such as Pennsylvania.
Therefore, it’s very possible that within a couple of weeks the Trump administration will see these attempts as futile and give them up.
If that were to happen, this would be an opportunity for Trump to end his presidency on a positive note.
He could push for both Democrats and Republicans to come together to pass a comprehensive deal that would benefit the American people in a huge way.
While there are millions of people who will never think positively of Trump, this could be a way to improve his legacy (whatever that legacy will end up being).
That would be a great outcome for both the president and the American people but I’m not sure that it is likely to happen.
And here’s why.
President Trump is an entrepreneur at heart and many entrepreneurs have the mentality that they keep going until they essentially get locked out of their own business.
Running a country is obviously vastly different from running a mom and pop shop on the corner but the mentality is very much the same.
If Trump is in the mindset that he never wants to give up then he might take this as far as he can go and in that scenario I don’t see anything happening until Biden comes into office in January.
Daniel Gillaspia is the Founder of UponArriving.com and the credit card app, WalletFlo. He is a former attorney turned travel expert covering destinations along with TSA, airline, and hotel policies. Since 2014, his content has been featured in publications such as National Geographic, Smithsonian Magazine, and CNBC. Read my bio.