With a vote of 97-2, the Senate passed a bill Tuesday that will fund the 9/11 Victims Compensation Fund through 2090.
The fund was originally established in the months following the September 11 terrorist attacks to support the families of the victims killed, as well as survivors living with injuries.
The law, which required reauthorization, was expected to expire next year.
The fund has received more requests in recent years for serious illnesses related to the attacks and cleanup, according to CNN reporting.
The House approved the new legislation earlier in July, and President Donald Trump is expected to sign the bill.
Comedian and former “Daily Show” host Jon Stewart, an ardent supporter of the first responders to the September 11 attacks, had heavily lobbied for the legislation, and testified on Capitol Hill alongside some of the first responders.
Sen. Rand Paul objected to the bill on the grounds that passing the legislation would require other expenditures to be cut, which delayed its passage in the Senate.
The fund is expected to cost $10.2 billion over the next decade, according to the Congressional Budget Office.
The bill’s full title is “Never Forget the Heroes: James Zadroga, Ray Pfeifer, and Luis Alvarez Permanent Authorization of the September 11th Victim Compensation Fund Act,” named after three first responders who died from 9/11-related illnesses.
Catching you up on the stories you need to know this morning, the U.S. could soon get its first major gun safety law in years, the House Select Committee investigating the January 6th attack on the U.S. capitol holds its second hearing, and today might just be the day the Supreme Court overturns Roe v. Wade, and decides on new gun laws.
U.S. stocks closed Thursday at their lowest levels of the trading day, as investors continue to eye inflation ahead of the May CPI report out Friday. Art Hogan, Chief Market Strategist for National Holdings, joins Cheddar News' Closing Bell to discuss.
The PGA has suspended 17 golfers, including Phil Mickelson and Dustin Johnson, who are competing in a Saudi-backed golf event outside of London. In a memo, commissioner Jay Monahan said "these players have made their choice for their own financial-based reasons", announcing they are ineligible to participate on the PGA tour or any other tours it sanctions. Hugh Kellenberger, Senior Managing Editor at the Athletic, breaks down the controversy, and what might happen next.
U.S. stocks closed Friday at session lows after May CPI data showed inflation in the U.S. has not peaked and is still rising rapidly. For the week, the S&P fell 5.06%, the Dow lost 4.58%, and the Nasdaq dropped 5.60%, marking the worst week since January for all three major indexes. Mike Zigmont, Head of Trading and Research at Harvest Volatility Management, joins Cheddar News' Closing Bell to discuss.
Benefits brokerage, Nava Benefits, raised $40 million in a Series B round. Nava says it's on a mission to fix healthcare, one benefits plan at a time. The startup is working to bring benefits to small business that are normally available to only Fortune 500 companies. Brandon Weber, Co-Founder and CEO of Nava Benefits, joined Cheddar News' Closing Bell to discuss.
