Wednesday, October 21, 2020

Another stimulus bill dies in the Senate

There is still no new Covid-19 stimulus bill; Purdue Pharma pleads guilty for its role in the opioid epidemic.

 

Tonight's Sentences was written by Benjamin Rosenberg.

TOP NEWS
Senate Democrats block GOP's $500 billion stimulus bill
Michael Clubb/Getty Images
  • After months of back-and-forth between congressional Democrats and Republicans and the White House over a new Covid-19 stimulus bill, Senate Democrats blocked the Republicans' $500 billion proposal on Wednesday, saying it did not go nearly far enough. [CNBC / Jacob Pramuk]
  • 51 senators voted to approve the $500 billion package while 44 voted against it, but the bill fell short of the necessary 60 votes to pass. $100 billion of the funding would have gone to schools, with the rest going to unemployment benefits and testing and vaccine development. [USA Today / Christal Hayes and Nicholas Wu]
  • Still, House Speaker Nancy Pelosi expressed optimism that a bill will pass eventually, though she said she's not sure if it will happen in time for tenants to pay November rent, as is her goal. Pelosi said it's up to President Trump to convince Republicans to approve a bigger stimulus bill. [Business Insider / Joseph Zeballos-Roig]
  • The vote on a new bill may not come until after Election Day, Pelosi said. Democratic congressional leaders and the White House have moved closer in their desired figures — the Democrats are asking for $2.2 trillion, while Trump has proposed $1.8 trillion. [Fortune / Lance Lambert and Anne Sraders]
  • Senate Majority Leader Mitch McConnell revealed Tuesday that he told the White House not to make a deal with Pelosi before the election. He also told his fellow Senate Republicans that Pelosi and Treasury Secretary Steven Mnuchin were not negotiating in good faith. [Washington Post / Jeff Stein and Erica Werner]
  • By and large, Senate Republicans are focused on the hearings for Supreme Court nominee Amy Coney Barrett, who could be confirmed next week. The hearings have delayed discussion on a stimulus bill, which many Senate Republicans oppose anyway. [Forbes / Sarah Hansen]
  • Even if Trump and Mnuchin come to an agreement with Pelosi, Senate Republicans can still block a deal. Right now, however, Pelosi and Mnuchin still need to overcome major differences if they want to get a deal done by November 3, White House Chief of Staff Mark Meadows said. [CNBC / Jacob Pramuk]
  • McConnell said Tuesday that the Senate would "consider" voting on a deal approved by the White House and the Democrats, but did not specify whether that could happen before the election. At least 13 Republicans (plus all the Democrats) would have to approve a bill to reach the 60-vote threshold. [US News / Lisa Hagen]
  • Pelosi initially rejected Trump's $1.8 trillion proposal, saying the language it uses for Covid-19 testing is vague and it does not offer enough support for child tax credits. The Democrats' $2.2 trillion offer is an updated version of the HEROES Act, which passed the House in May. [Vox / Li Zhou]
 
Learn more about RevenueStripe...
Purdue Pharma pleads guilty over OxyContin marketing
  • Purdue Pharma, which makes the opioid OxyContin, will plead guilty to three federal criminal charges for its role in the US opioid crisis. Because it does not have the $8 billion in cash it needs to pay the fines, Purdue will be closed down as part of the settlement. [CNN / Chris Isidore]
  • The Sackler family, which owns Purdue Pharma, agreed to pay $225 million in civil penalties. The settlement is a victory of sorts for President Trump — he campaigned in 2016 on combating the opioid crisis, which is still a major issue in several key battleground states. [NYT / Jan Hoffman and Katie Benner]
  • Despite the steep fines, no prison sentences were handed out. The Sackler family and Purdue executives could still be prosecuted and incarcerated in the future, however — the Associated Press reported that a criminal investigation into the Sacklers' activities is taking place. [Vox / German Lopez]
  • Some critics have claimed the Justice Department's settlement was politically motivated, to improve Trump's weak record on the opioid epidemic. Overdose deaths went down in 2018 but increased in 2019 and are set to increase again this year. [Vox / German Lopez]
  • Since 1999, the opioid crisis has killed more than 400,000 Americans. The investigation claims that Purdue and other companies encouraged overprescription of opioids, resulting in overdose and addiction. [BBC News / Natalie Sherman]
MISCELLANEOUS
In a significant shift for the Roman Catholic Church, Pope Francis voiced support for same-sex civil unions in a new documentary.

[NYT / Jason Horowitz]

  • As US troops prepare to leave Afghanistan, the Taliban appears ready to make a comeback. The Taliban is stronger than at any point since 2001. [BBC News / Lyse Doucet]

  • Vietnam is dealing with its worst flooding in decades. More than 100 people have died and over 72 square kilometers' worth of food crops have been submerged and damaged. [CNN / Julia Hollingsworth]

  • A NASA spacecraft briefly touched the surface of an asteroid Tuesday, collecting cosmic rubble to take back to Earth. The feat means the US is now the second country to collect an asteroid sample, after Japan. [AP / Marcia Dunn]

 
Learn more about RevenueStripe...
VERBATIM
"I would like to see a deal now. And what's important to me is not the dollar amount but knowing that the central features like state and local government relief are funded for several months, because the need is immediate and great."

[Rep. Tom Malinowski (D-NJ) on the fight for a Covid-19 stimulus bill]

LISTEN TO THIS


What if the next pandemic comes not from wet markets overseas, but from our own factory farms? Martha Nelson, who studies viruses at the NIH, says we are playing Russian roulette with potentially dangerous influenza strains on our pig farms. [Spotify / Sigal Samuel]

Read more from Vox

 

The stunning hypocrisy of the Trump family's attacks on Hunter Biden

 

Home, bittersweet home

 

What's the same and what's different about the polls this time

 

The real death toll from the pandemic in America may already be 300,000

 

7 movies and TV shows that explain US elections, from gerrymandering to hanging chads

 

 
Learn more about RevenueStripe...
Facebook Twitter YouTube
This email was sent to edwardlorilla1986.paxforex@blogger.com. Manage your email preferences, or unsubscribe to stop receiving all emails from Vox. If you value Vox's unique explanatory journalism, support our work with a one-time or recurring contribution.
View our Privacy Notice and our Terms of Service.
Vox Media, 1201 Connecticut Ave. NW, Washington, DC 20036.
Copyright © 2020. All rights reserved.

No comments:

Post a Comment

Transform Your Portfolio: Learn Top $NVDA Trading Strategies on May 19th!

Trader your participation is requested You signed up to get mail from YellowTunnel newsletter on 12/11/20.     If you no longe...