The House speaker said it could undercut negotiations on other Democratic funding priorities.
Category: Business & Economy
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S&P 500 Closes at Record High, Rebounding From Pandemic Losses
The S&P 500 climbed 0.23 percent, surpassing its intraday high of 3,393.52, before beating its February record.
Senate Adjourns Through Labor Day Without Reaching Coronavirus Relief Deal
Mitch McConnell said that if an agreement is reached while the Senate is adjourned, they will come back to vote
U.S. Companies Push for Leniency in Trump’s Ban of Chinese App WeChat
Trump ordered the Commerce Department earlier this month to draw up a plan to ban WeChat within 45 days.
The Capital Note: Individual Investors, Inflation & the Invisible Hand
The Role of Robinhood, Inflation-Adjusted Capital-Gains Taxes, Shakespeare’s Influence on Adam Smith, and more.
Senate Republicans Criticize GOP’s Own Coronavirus Relief Bill: ‘We Have Unity in Disagreement’
Senate Republicans criticized their party’s own coronavirus relief bill in public comments and during a private lunch with Senate GOP
Biden Unveils $2 Trillion Climate Plan
The new plan dramatically accelerates Biden’s initial promises to devote $1.7 billion to green spending over 10 years.
U.S. Seizes $800k Chinese Shipment of Human Hair Products on Suspicion of Human Rights Violations
U.S. customs seized a Chinese shipment of nearly 13 tons of wigs and other human hair products suspected of being
Government Watchdog Finds Over 1 Million Coronavirus Checks Sent to Dead People
The IRS and the Treasury department did not use death records in the first three sets of payments — 72
L.A. to Slash Police Budget up to $150 Million in Order to ‘Invest’ in Communities of Color
The mayor said cuts would be made “to every department, including the Police Department, because we all have to be
China Warns U.S. Pushing to ‘Brink of New Cold War’ with Coronavirus Accusations
Continuing trade negotiations have been threatened as the two countries trade barbs over the coronavirus pandemic.
Lindsey Graham: ‘This Is the Time’ to Push for Infrastructure Bill
“It really is a once-in-a-lifetime opportunity to give a facelift to the country” Graham said regarding the bill.
Mnuchin Warns of ‘Permanent Damage’ to Economy if Shutdowns Are Extended
The treasury secretary told lawmakers at a hearing that if the economy stays shut, we could face long term damage.
Three Million Workers File for Unemployment in Past Week, Bringing Crisis Total to 36 Million
Some 21.8 percent of the U.S. workforce is now unemployed, due to mass business closures imposed to mitigate the spread
Top Senate Republicans Dismiss Trump’s Tax-Cut Wishes
The president tweeted on Tuesday that “Payroll Taxes, and perhaps Capital Gains Taxes, must be put on the table.”
California Becomes First State to Tap Into Federal Funding to Pay Rising Unemployment
On Monday the state began to access its pre-approved $10 billion loan for paying unemployment through the end of July.
McConnell Says It’s ‘Highly Likely’ That Next Coronavirus Relief Bill Will Include Funding for States and Cities
The majority leader said that Republicans “will proudly insist” that the next relief bill include liability protections.
Mnuchin Considers Lending Program for Oil Companies to Offset Effects of Pandemic, Supply Glut
Oil prices have collapsed during the pandemic, with decreased demand bringing U.S. crude prices below zero earlier this week.
OPEC, Russia, and Others Agree on Production Cuts to Stem Free-Falling Prices
The agreement will cut worldwide output by 10 million barrels per day, amounting to one tenth of the global supply
Federal Reserve to Inject $1.5 Trillion into Markets to Offset Economic Impact of Coronavirus
The Federal Reserve on Thursday announced it would inject $1.5 trillion into short-term markets to offset the economic impact of
Michael Avenatti Found Guilty on All Counts in Nike Extortion Trial
Attorney Michael Avenatti was found guilty on all counts in his Nike extortion trial on Friday and faces a sentence
British Parliament Passes Brexit Bill Allowing Jan. 31 Date for Withdrawal from E.U.
The U.K. House of Commons on Thursday passed a law allowing the country to separate from the European Union by
Defense Stocks Surge with Iran-War Speculation Despite Broader Market-Dip
The stock market fell over fears of unrest following a U.S. strike that killed Iranian military leader Qasem Soleimani but