After voting to block witnesses, the Senate voted Friday to approve a resolution setting the final day of the president’s impeachment trial — and his likely acquittal — for Wednesday, after both the Iowa Caucuses and President Donald Trump's State of the Union address.
Senators debated on how to move forward during a recess after the witness vote’s conclusion. After nearly 90 minutes, it appeared that Senate leaders Mitch McConnell and Chuck Schumer had reached a deal that would pause the trial until Monday and provide each senator with 10 minutes to explain his or her decision on the president’s conviction or acquittal. The Senate voted on the organizing resolution and Democrats brought four amendments to the floor — all of which were defeated.
Chief Justice John Roberts answered a question from Schumer on whether he would cast a tie-breaking vote. Roberts said it would be “inappropriate for me” to break a 50-50 tie.
One of the amendments brought to the Senate floor tonight on impeachment rules would have required Roberts to rule on motions for evidence.
Sen. Roy Blunt (R-Mo.) had previously told reporters the expectation moving forward would not include closed deliberations. "I'm opposed to it and I believe we will not have any closed sessions," he said. The plan voted on did not include such a provision.
The new resolution provided a timetable for the end of the third impeachment trial of a sitting U.S. president. The Senate will recess for the weekend until Monday at 11 a.m. Then House Managers and the defense counsel will each have two hours to make closing arguments. Senators will be allowed to give floor speeches for parts of Monday, Tuesday, and Wednesday. The vote would be scheduled for 4 pm Wednesday.
Sen. Tim Scott (R-S.C.) said, upon leaving the GOP meeting, that "the process is important, so having the Democrats buy into this final arrangement, I think is more important than just shoving it down their throats because sooner or later the shoe will be on this foot."
Senators will vote on two articles of impeachment: abuse of power and obstruction of Congress related to allegations President Trump pressured Ukraine to announce investigations into his political rival, former Vice President Joe Biden, and his son Hunter by withholding nearly $400 million in security aid.
Democrats had been pushing to hear from new witnesses since the trial began nearly two weeks ago, especially after John Bolton, the former national security advisor, said he would testify and new evidence was reported by the New York Times indicated Bolton's unpublished manuscript contained details in which the president told advisors to withhold aid to Ukraine as early as last spring. Only two Republicans — Senators Mitt Romney (R-Utah) and Susan Collins (R-Maine) — voted with the Democrats.
Stocks began the week closing at session lows on a day when bond yields rose and President Biden decided to stick with Jerome Powell as Fed Chair. Bryan Lee, Chief Investment Officer at Blue Zone Wealth Advisors, joins Cheddar News' Closing Bell, where he breaks down the day's activity and discusses what the Fed now needs to do going forward.
President Joe Biden announced Monday he is re-nominating Federal Reserve Chairman Jerome Powell after weeks of speculation that he would choose Democrat and Fed Governor Lael Brainard to fill the role. Biden could be looking for continuity as the U.S. continues to grapple with COVID-19 and high inflation, and investors could be on the same page: markets and treasuries ticked up after the White House made the announcement. MarketWatch Senior Reporter Greg Robb joins Cheddar News' Closing Bell to discuss Powell's re-nomination, what we can expect from the Fed's December meeting, whether it will speed up its taper timeline, and more.
President Joe Biden named Jerome Powell, initially appointed by President Trump, to keep his seat as the chair of the Federal Reserve on Monday amid the ongoing challenges of the pandemic, inflation, and unemployment. David Beckworth, a former international economist for the Treasury Department and a senior fellow with the Mercatus Center, joined Cheddar to discuss what he sees as the practicality of Biden's decision. "What Powell brings to the table is he's built up political capital with Republicans and Democrats," he said. "It's easy for him to get the job done. I think in one way he was the path of least resistance for the president."
In a surprise turn of events, Elizabeth Holmes took the stand in her own defense on Friday and is expected to continue her testimony later today. Holmes, who founded a blood testing start-up Theranos back in 2003, faces 11 counts of wire fraud as well as conspiracy to commit wire fraud. Aron Solomon, Chief Legal Analyst, Esquire Digital joined Cheddar's Opening Bell to discuss.
Jill and Carlo cover the developing story out of suburban Milwaukee, where a speeding SUV careened through a Christmas parade. Looters get more brazen in San Francisco, the missing Chinese tennis star resurfaces, and more.
Michael Tubbs, former Mayor of Stockton, California and author of 'The Deeper the Roots,' joined Cheddar Movers to talk all about his new memoir, and his ongoing fight to make meaningful change in his community.
The House narrowly passed President Biden's $1.7 trillion Build Back Better bill, the largest expansion of the social safety net in decades. The final vote was 220 to 213, with only one Democrat joining all Republicans in opposing the bill. It now heads to the Senate, where it faces an uncertain fate. Jennifer Haberkorn, congressional reporter for the Los Angeles Times, joins Cheddar News' Closing Bell, where she breaks down the current version of the bill, where it goes next, and what it could mean for the country if it eventually reaches the president's desk.
