The House of Representatives is expected to re-vote on the Republican Tax bill Wednesday, after procedural problems invalidated the previous votes.
Three portions of the bill reportedly violate the Senate’s Byrd rule, although congress members had already voted 227-203 in favor of the bill. The Senate is expected to continue reviewing its version and vote Tuesday night.
Rep Beto O'Rourke (D-TX), who voted “ no” in the first round of votes, spoke to Cheddar ahead of the most recent snafu, and said that the bill was “terrible”. O’Rourke says Congress had the opportunity to promote upward mobility for low-income and middle class Americans, but doesn’t think the current version does that. Instead, he argues that the plan transfers 86 percent of tax cuts to the wealthy, and knocks 13 million people off health insurance.
“This is the most massive restructuring of the tax code in more than 30 years, and unfortunately this was a blown opportunity,” Rep. Beto O'Rourke (D-TX), told Cheddar.
Before the voting glitch was revealed, President Donald Trump, Vice-President Mike Pence, and Speaker of the House Paul Ryan, all took to Twitter to celebrate the win. Notably, Speaker Ryan says that the bill is going to help struggling Americans who are living “paycheck-to-paycheck.”
“We said in 2016 that it will take real tax reforms for families and businesses to get the economy growing, and we were serious,” he said.
For full interview [click here](https://cheddar.com/videos/congressman-beto-orourke-d-tx-is-taking-on-texas-senator-ted-cruz).
The U.S. Senate Committee on Banking, Housing and Urban Affairs introduced legislation Tuesday requiring banks to maintain “digital dollar wallets” for coronavirus stimulus payments to consumers.
New York Governor Andrew Cuomo Wednesday afternoon said the greatest strain on the state’s health care system from the coronavirus could come in approximately 21 days, while also providing early indications about steps the state might eventually take to restart the economy.
One of the most influential industries on Capitol Hill was left out of the package that advanced early Wednesday, an apparent setback for a sector that had expected to easily secure $3 billion to fund the purchase of oil to fill the Strategic Petroleum Reserve (SPR).
There's no 12th Democratic presidential debate on the horizon now that the nominating process is in a holding pattern due to the coronavirus pandemic.
The Senate will reconvene later Wednesday to vote on the package. But that does not mean the bill is guaranteed to land on President Donald Trump’s desk. The House of Representatives has to pass it, and that may not be an easy feat.
The White House and Senate leaders of both major political parties announced agreement early Wednesday on an unprecedented $2 trillion emergency bill to rush sweeping aid to businesses, workers and a health care system slammed by the coronavirus pandemic.
Stocks are moving tentatively higher in early trading on Wall Street Wednesday after Congress and the White House reached a deal to inject nearly $2 trillion of aid into an economy ravaged by the coronavirus.
The death toll in Spain from the coronavirus shot up by more than 700 on Wednesday, surpassing China and is now second only to Italy as the pandemic spread rapidly in Europe, with even Britain’s Prince Charles testing positive for the virus.
Each piece of legislation is long: 247 pages for the Senate bill and a whopping 1,404 pages for the House bill. While we cannot distill every provision, here’s a look at some of the major differences between the two pieces of legislation.
Stocks are jumping in midday trading on Wall Street Tuesday amid expectations that Congress is nearing a deal on a big coronavirus relief bill. That would follow more aggressive steps from the Federal Reserve announced a day earlier to support lending and bond markets.
