Immigration Deal To Be Part of Funding Deal
February 27, 2018
Republican senators say that immigration deal likely to be incorporated into funding bill; Consumer confidence increases to 130.8 in February, the highest level since 2000; U.S. core capital goods orders fall while goods trade deficit widens.
- Republican senators say that immigration deal likely to be incorporated into funding bill. GOP senators said on Monday that next month’s government funding bill, known as an omnibus, will likely be the vehicle for a deal on the Deferred Action for Childhood Arrivals (DACA) program to help “Dreamers”, or undocumented immigrants who were brought to the United States as children and went to school in the United States. Sen. Lindsey Graham (R-S.C.) said that including a short-term deal on DACA in the omnibus is the most likely of three potential paths forward. The other two options, in Graham’s view, are Congress doing nothing or President Trump pairing a permanent fix for DACA with border wall funding. Sen. Shelley Moore Capito (R-W.Va.) said that while she would rather have a permanent fix, she predicted that a years-long immigration agreement in the March funding bill is more likely. The Supreme Court on Monday also declined an unusual White House request to immediately decide whether the Trump administration can shut down DACA. The Supreme Court made the decision not to hear the administration’s appeal, as no appeals court has yet ruled on the issue. [The Hill, NYTimes]
Economic Indicators & Mews
- Consumer confidence increases to 130.8 in February, the highest level since 2000. U.S. consumer confidence surged in February, reaching the highest level since 2000. The Conference Board’s measure of consumer attitudes on current and future economic conditions increased to 130.80 in February from 124.30 in January. The newest reading is the index’s highest since November of 2000, when the confidence peaked at 132.60. Sentiments about short-term economic prospects in particular increased in January. The index considers Americans’ views of current economic conditions and their expectations for the next six months. [CNBC]
- U.S. core capital goods orders fall while goods trade deficit widens. New orders for U.S.-made capital goods decreased for a second straight month in January, while shipments barely increased, indicating a slowdown in business spending on equipment after robust growth in 2017. The Commerce Department reported data on Tuesday on January retail sales, industrial production and home sales that suggest that economic growth moderated early in the first quarter. The data was also underscored by data showing a widening in the goods trade deficit in January. Orders for non-defense capital goods excluding aircraft, which is used as a proxy for business spending plans, decreased 0.2 percent last month after declining 0.6 percent in December, the first back-to-back drop in these so-called “core” capital goods orders since May 2016. Shipments of core capital goods edged up 0.1 percent after an upwardly revised 0.7 percent rise in December. These core capital goods are used in the government’s calculation of gross domestic product (GDP). [Reuters]