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The House on Friday narrowly passed a $3 trillion coronavirus relief package crafted by Democrats that would include another round of stimulus payments of up to $1,200 per person.
President Donald Trump this week declared the Democrats' proposal "DOA."
Similar to the first major coronavirus aid package signed into law in late March, the 1,815-page HEROES Act would provide up to $1,200 in payments (or $2,400 for married couples), with an extra $1,200 per dependent up to a maximum of three. The income thresholds are the same as in the earlier CARES Act, with money for people making up to $99,000 and couples up to $198,000. The amount would start to reduce from $1,200 above thresholds of $75,000 and $150,000, respectively.
The bill passed by a vote of 208-199 and now heads to the Senate.
The HEROES legislation also includes:
-Nearly $1 trillion in aid to state and local governments
-Extending $600-per-week addition for unemployment benefits through January 2021
-Expanded coronavirus testing, contact tracing and treatment and a requirement for the Trump administration to develop a national testing strategy
-Enhancing tax credits for employers to keep workers on their payrolls
-Support to help renters and homeowners make monthly rent, mortgage and utility payments
-$10 billion for the Supplemental Nutrition Assistance Program, to support anticipated increases in participation for food stamps
-$3.6 billion for grants to states for contingency planning and preparation for elections for federal office
The House on Friday also passed a resolution to temporarily change House rules to allow for proxy voting and remote committee work during the pandemic, an unprecedented shift to how the chamber operates. It passed mostly along party lines.
In a letter to House Democrats on Friday, House Speaker Nancy Pelosi, D-Calif
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DISCLAIMER: This content is my personal opinion and is intended for general information purposes only, not financial advice. Nothing herein shall be construed to be financial, legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Purchasing cryptocurrencies poses a considerable risk of loss. The speaker will not be held responsible for any losses or gains. Always do your own research and advise a professional before making your own investments.
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DISCLAIMER: This content is my personal opinion and is intended for general information purposes only, not financial advice. Nothing herein shall be construed to be financial, legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Purchasing cryptocurrencies poses a considerable risk of loss. The speaker will not be held responsible for any losses or gains. Always do your own research and advise a professional before making your own investments.
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Coinbase IPO - Largest US Cryptocurrency Exchange Files For IPO - BIG NEWS
Digital currency exchange Coinbase is going public as renewed investor interest in cryptocurrencies has pushed bitcoin to an all-time high.
On Thursday the company announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission. The form is expected to go into effect after the SEC completes its review process.
California-based Coinbase, founded in 2012, has long been a go-to spot to buy and sell cryptocurrencies, and the company has grown into the largest digital currency exchange in the U.S.
The company’s filing comes on the heels of a surge in the price of bitcoin. On Thursday the largest cryptocurrency rallied more than 12% to top $23,000 for the first time on record, according to crypto market data provider Coin Metrics. The move came just one day after the cryptocurrency topped the $20,000 mark for the first time.
With Thursday’s jump, bitcoin is now up more than 200% for the year. Bitcoin has garnered much attention from investors lately, and Paul Tudor Jones and Stanley Druckenmiller are among those who have come out in favor of the cryptocurrency. Large financial companies like PayPal and Fidelity have also made moves in the space.
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