The second impeachment trial for former President Donald Trump is slated to start at 1 p.m. Eastern Tuesday, with the proceedings in the Senate coming a year after Trump’s first such trial ended with an acquittal.
Tuesday is expected to deliver up to four hours of debate on the constitutionality of the trial and then a vote on that issue. If a simple majority of the 100-seat chamber votes in favor of the constitutionality of the trial, it will proceed, said a Monday statement from the office of Senate Majority Chuck Schumer.
The Senate has addressed the trial’s constitutionality previously, voting 55-45 two weeks ago to set aside an objection from Republican Sen. Rand Paul of Kentucky that would have declared the impeachment proceedings unconstitutional. Five Republicans joined with the chamber’s 50 Democrats and independents in opposing Paul’s objection.
The presentation of arguments on the charge that Trump faces after the Jan. 6 storming of the Capitol — inciting an insurrection — isn’t scheduled to begin until Wednesday. Each side will get 16 hours over two days to make its case, said Schumer, the New York Democrat, in a floor speech on Monday.
Read more: Trump’s second impeachment trial — how to watch it
Opinion: Despite the Capitol insurrection, Trump was never a would-be fascist dictator
Markets aren’t expected to get shaken by the proceedings. U.S. stocks
SPX,
+0.04%
DJIA,
+0.10%
recently traded flat to slightly higher on Tuesday after the main benchmarks closed at records on Monday.
“The Senate’s impeachment trial of former President Donald Trump will dominate the headlines and cable news this week and will occupy a lot of the Senate time and energy but there are some other events in Washington that investors should pay attention to this week,” said Brian Gardner, Stifel’s chief Washington policy strategist, in a note.
Gardner said the key events include confirmation hearings for President Joe Biden’s nominee for Office of Management and Budget director, Federal Reserve Board Chairman Jerome Powell speaking on Wednesday, and ongoing talks over another COVID-19 aid package.
