The sweeping $1.9 trillion COVID-19 relief bill is one step closer to becoming law after Vice President Kamala Harris cast the deciding Senate vote on a key measure early this morning. As the bill heads back to the House of Representatives for a vote on reconciliation, Rep. Al Green (D-Texas 9th District), told Cheddar that while Democrats look to pass the bill as it stands, he is willing to negotiate on some terms of the potential law.
The bill includes $350 billion in state and local aid, a $20 billion national vaccine plan, and $50 billion for testing efforts. Americans applying for unemployment benefits would also receive an extra $400 per claim in addition to $1,400 checks for qualified Americans.
"I think the president has outlined an outstanding bill. I do believe that it's important that we get the rent paid because it helps the renters as well as the landlords," Green said.
Another item that could make it into the bill is the raising of the federal minimum wage to $15, although the Senate voted it down overnight, a provision that the congressman said he believed would bring people out of poverty. Though Green admitted that there is concern that the job market could take a blow as a result of the increase, he said that a minimum wage boost "helps the entire economy."
"We hear this same argument each time we raise the minimum wage and each time it's successfully raised and the economy is helped as a result of it. The minimum wage is not going to just simply go immediately to $15, it's phased in," Green noted.
Following debate over the amended relief bill, Congress is likely to begin steps to investigate r/WallStreetBets, in what he says will be an inquiry into January's stunning rise and fall of stocks like GameStop and any potentially nefarious dealings.
"Well, at some point, have a hearing, and we'll start with witnesses that are available to us at the time and then we sort of follow the facts," he said. "I believe that the facts ought to determine where an investigation goes."
Orangetheory Fitness is redefining the future of workouts with smarter tech, strength-based programming, and community-driven studios built for what’s next.
Spain's government has fined Airbnb 64 million euros or $75 million for advertising unlicensed tourist rentals. The consumer rights ministry announced the fine on Monday. The ministry stated that many listings lacked proper license numbers or included incorrect information. The move is part of Spain's ongoing efforts to regulate short-term rental companies amid a housing affordability crisis especially in popular urban areas. The ministry ordered Airbnb in May to remove around 65,000 listings for similar violations. The government's consumer rights minister emphasized the impact on families struggling with housing. Airbnb said it plans to challenge the fine in court.
Roomba maker iRobot has filed for Chapter 11 bankruptcy protection, but says that it doesn’t expect any disruptions to devices as the more than 30-year-old company is taken private under a restructuring process. iRobot said that it is being acquired by Picea through a court-supervised process. Picea is the company's primary contract manufacturer. The Bedford, Massachusetts-based anticipates completing the prepackaged chapter 11 process by February.
Serbia’s prosecutor for organized crime has charged a government minister and three others with abuse of position and falsifying of documents related to a luxury real estate project linked to U.S. President Donald Trump’s son-in-law Jared Kushner. The charges came on Monday. The investigation centers on a controversy over a a bombed-out military complex in central Belgrade that was a protected cultural heritage zone but that is facing redevelopment as a luxury compound by a company linked to Kushner. The $500 million proposal to build a high-rise hotel, offices and shops at the site has met fierce opposition from experts at home and abroad. Selakovic and others allegedly illegally lifted the protection status for the site by falsifying documentation.
Wealthfront’s CFO Alan Iberman talks the $2.05B IPO and the major moment for robo banking as the company bets on AI, automation, and “self-driving money."
