Congress funds ICE and CBP through Trump's presidency

What happened: On Wednesday, December 23, 2020, President Donald Trump signed a $70 billion bill funding Immigration and Customs Enforcement (ICE) and Customs and Border Protection (CBP) through the end of his term. This followed months of partisan debate and delay in Congress, with the package passing both houses in the final week of the year.

Market impact: The funding boosts ICE and CBP, impacting immigration-related industries and services. This includes increased enforcement activities, potentially affecting logistics and transportation companies, particularly those with exposure to border crossings and immigration status checks. American Truckers United, for instance, has raised concerns about safety and compliance issues related to immigration enforcement.

What to watch next: In early 2021, monitor ICE and CBP's spending and enforcement activities for signs of increased border security and immigration control. Additionally, track earnings reports from logistics and transportation companies to assess any impacts on their operations and financial performance.