News

Congress

AP News | Equities.com |

House Republicans will be forced to go on the record, defending or rebuking Rep. Marjorie Taylor Greene, who has drawn bipartisan condemnation over her embrace of far-right conspiracy theories, as well as her past endorsement of violence against Democrats.

The politically agonizing vote expected Thursday, which will determine whether the Georgia Republican is stripped of her committee assignments, underscores tension over the best political path forward that has riven the party since Donald Trump lost the White House.


Reuters | Equities.com |

As the White House and Congressional Democrats press for a $1.9 trillion pandemic relief package that many Republicans say is more than what the country needs or can afford, Federal Reserve policymakers are also split on the issue.

“We are still in the teeth of this pandemic - and we are not out of the woods yet,” Dallas Fed President Robert Kaplan told the Chicago Council on Global Affairs in an online event Monday.


Reuters | Equities.com |

Ten moderate Republican U.S. senators urged President Joe Biden on Sunday to significantly downsize his sweeping $1.9 trillion COVID-19 relief package to win bipartisan support as Democrats in Congress prepared to push ahead with his plan this week.

A top White House economic adviser signaled willingness to discuss the ideas raised by Republican senators who floated a $600 billion alternative but said the Democratic president was not willing to compromise on the need for a comprehensive bill to address the public health crisis and economic fallout.


Reuters | Equities.com |

Robinhood online brokerage has been one of the hottest venues for investors in a retail trading frenzy. Now it is in the line of fire from angry customers, disgruntled celebrities and politicians.

Citing market volatility and the need to keep investors informed, the Menlo Park, California-based app said on a blog that it was halting trading of viral stocks including GameStop, AMC Entertainment, American Airlines and Nokia and raised margin requirements for certain securities.


Reuters | Equities.com |

It was a bold opening salvo from the incoming administration of President Joe Biden: an immigration bill that would open a path to citizenship for roughly 11 million people living in the country illegally. But even the Democratic senator leading the charge acknowledged on Thursday that passing it would be “a Herculean task.”

The senator, long-time immigrant rights champion Robert Menendez, said in a video call with business groups, labor unions and migrant advocates that they will need to convince a broad swath of Americans to support the measure, while allies in the U.S. business community would have to push for it with “everything that you’ve got.”


Reuters | Equities.com |

Janet Yellen, U.S. President-elect Joe Biden’s nominee for Treasury Secretary, urged lawmakers on Tuesday to “act big” on coronavirus relief spending, arguing that the economic benefits far outweigh the risks of a higher debt burden.

In more than three hours of confirmation hearing testimony, the former Federal Reserve chair laid out a vision of a more muscular Treasury that would act aggressively to reduce economic inequality, fight climate change and counter China’s unfair trade and subsidy practices.


AP News | Equities.com |

The unprecedented Republican effort to overturn the presidential election has been condemned by an outpouring of current and former GOP officials warning the effort to sow doubt in Joe Biden’s win and keep President Donald Trump in office is undermining Americans’ faith in democracy.

Trump has enlisted support from a dozen Republican senators and up to 100 House Republicans to challenge the Electoral College vote when Congress convenes in a joint session to confirm President-elect Joe Biden’s 306-232 win.

With Biden set to be inaugurated Jan. 20, Trump is intensifying efforts to prevent the traditional transfer of power, ripping the party apart.


AP News | Equities.com |

Nancy Pelosi was narrowly reelected Sunday as speaker, giving her the reins of Democrats’ slender House majority as President-elect Joe Biden sets a challenging course of producing legislation to tackle the pandemic, revive the economy and address other party priorities.

The California Democrat, who has led her party in the House since 2003 and is the only woman to be speaker, had been widely expected to retain her post. Pelosi received 216 votes to 209 for Rep. Kevin McCarthy, R-Calif., who again will be the chamber’s minority leader.


AP News | Equities.com |

The Census Bureau will miss a year-end deadline for handing in numbers used for divvying up congressional seats, a delay that could undermine President Donald Trump’s efforts to exclude people in the country illegally from the count if the figures aren’t submitted before President-elect Joe Biden takes office.

The Census Bureau plans to deliver a population count of each state in early 2021, as close to the missed deadline as possible, the statistical agency said in a statement late Wednesday.


Reuters | Equities.com |

The Democratic-led U.S. House of Representatives voted 275-134 to meet President Donald Trump’s demand for $2,000 COVID-19 relief checks on Monday, sending the measure on to an uncertain future in the Republican-controlled Senate.

The Republican Trump last week threatened to block a massive pandemic aid and spending package if Congress did not boost stimulus payments from $600 to $2,000 and cut other spending. He backed down from his demands on Sunday as a possible government shutdown loomed, brought on by the fight with lawmakers.