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Election: Biden says Democratic wins in Georgia’s runoffs will lead to $2,000 stimulus checks

President-elect Joe Biden and President Donald Trump are campaigning on Monday in Georgia, where two U.S. Senate runoff elections on Tuesday are set to determine the balance of power in Washington. Read More...

President-elect Joe Biden and President Donald Trump were campaigning on Monday in Georgia, where two U.S. Senate runoff elections on Tuesday are set to determine the balance of power in Washington.

Biden spoke at an afternoon event in Atlanta in support of Democratic challengers Jon Ossoff and Rev. Raphael Warnock, while Trump is due to deliver an address in Dalton, Ga., during a rally for incumbent Republican Sens. David Perdue and Kelly Loeffler that starts at 7 p.m.

“If you send Jon and the reverend to Washington, those $2,000 checks will go out the door, restoring hope and decency and honor for so many people who are struggling right now,” Biden said during his speech, referring to proposed bigger stimulus checks. “If you send Sens. Perdue and Loeffler back to Washington, those checks will never get there. It’s just that simple.”

Trump, Perdue and Loeffler have voiced support for the larger direct payments to Americans in response to the COVID-19 crisis, rather than the $600 checks that are hitting bank accounts. But the $2,000 checks have been blocked by Senate Majority Leader Mitch McConnell, the Kentucky Republican, and they’ve been opposed by other GOP lawmakers.

Read more: Georgia runoff Republicans evolved their views on relief checks to back Trump demand for $2,000

The president-elect also said electing Ossoff and Warnock will mean an end to “the gridlock that has gripped Washington and this nation.”

“With their votes in the Senate, we’ll be able to make the progress we need to make on jobs, on health care, on justice on the environment, on so many important things,” Biden said.

Trump is expected to call on Georgians to back Loeffler and Perdue, but there have been concerns that the outgoing president’s attacks on top Georgia Republicans over his election loss in the state could cause some GOP voters to stay away from the polls. The president over the weekend told Georgia’s election chief to overturn Biden’s November win in the state, and audio of their call has received considerable attention.

See: Trump, on audio tape, presses Georgia official to ‘find’ more votes

Also: Trump’s Georgia call — here’s the complete transcript

Plus: Impeachment redux? Democratic lawmakers condemn Trump’s remarks, raise question of criminality

“GOP infighting over election results and stimulus has clearly been a headwind with polls tilting towards the challengers,” said Height Capital Markets analysts in a note on Monday. “We view a clear message about participation from President Trump’s scheduled rally in the state today as pivotal to the election day ‘get out the vote’ effort.”

Republicans already control 50 seats following November’s elections and can remain the majority party in the 100-seat Senate by winning just one of the two Georgia races. They then would provide a check on policies backed by Democratic President-elect Joe Biden and the Democratic-run House of Representatives.

Read more: Biden to campaign in Atlanta before Georgia’s Senate runoffs

And see: Trump plans to visit Georgia county with low early voter turnout

Betting markets and polls on Monday were signaling some confidence in the Democratic Party’s prospects.

The runoff elections in Georgia have the potential to inject volatility into a stock market. U.S. stocks SPX, -1.48% DJIA, -1.25% closed sharply lower on Monday.

Now read: The fate of value stocks rests on the Georgia Senate races, JPMorgan strategists say

Also see: Georgians blitzed by runoff-election ads, as Democrats deploy Barack Obama and Republicans counter with Herschel Walker

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