Friday, October 22News That Matters

Tag: House of Representatives

Stocks Hit a Record as Investors See Progress Toward a Spending Deal

Stocks Hit a Record as Investors See Progress Toward a Spending Deal

Business
Wall Street likes what it’s hearing from Washington lately.The S&P 500 inched to a new high on Thursday, continuing a rally aided by signs of progress in spending talks that could pave the way for an injection of some $3 trillion into the U.S. economy.The index rose 0.3 percent to 4,549.78, its seventh straight day of gains and a fresh peak after more than a month of volatile trading driven by nervousness over the still-wobbly economic recovery and policy fights in Washington.But even baby steps by lawmakers have helped end a market swoon that began in September.Share prices began to rise this month when congressional leaders struck a deal to allow the government to avoid breaching the debt ceiling, ending a standoff that threatened to make it impossible for the country to pay its bill...

As Democrats Trim Spending Bill, Some Americans Fear Being Left Behind

Technology, World
WASHINGTON — Democrats in Congress are curbing their ambitions for President Biden’s economic agenda, and Jennifer Mount, a home health care aide, worries that means she will not get the raise she needs to pay more than $3,000 in medical bills for blindness in one eye.Edison Suasnavas, who came to the United States from Ecuador as a child, has grown anxious about the administration’s efforts to establish a pathway to citizenship, which he hoped would allow him to keep doing molecular tests for cancer patients in Utah without fear of deportation.And Amy Stelly wonders — thanks to a winnowing of Mr. Biden’s plans to invest in neighborhoods harmed by previous infrastructure projects like highways that have harmed communities of color — whether she will continue to breathe fumes from a freeway...

Biden Pulls Back a Vote on the Infrastructure Bill

Technology, World
WASHINGTON — President Biden, facing an intraparty battle over his domestic agenda, put his own $1 trillion infrastructure bill on hold on Friday, telling Democrats that a vote on the popular measure must wait until Democrats pass his far more ambitious social policy and climate change package.In a closed-door meeting with Democrats on Capitol Hill, Mr. Biden told Democrats for the first time that keeping his two top legislative priorities together had become “just reality.” And he conceded that reaching a deal between the divided factions on his domestic agenda could take weeks.“I’m telling you, we’re going to get this done,” Mr. Biden told reporters Friday afternoon, appearing hand-in-hand with Speaker Nancy Pelosi after he left the closed-door gathering with Democrats. He added: “It doe...

Facebook Downplays Internal Research Released on Eve of Hearing

Business
Facebook on Wednesday published two internal research reports about its photo-sharing app, Instagram, and downplayed their conclusions, as the company prepared for two congressional hearings in the next week that are focused on its products’ effects on children’s mental health.The reports — “Teen Mental Health Deep Dive,” published internally in October 2019, and “Hard Life Moments,” published in November 2019 — were accompanied by annotations from Facebook that sought to contextualize the limitations of the research and chastised its own researchers for using imprecise language.In one slide, with a title that said “one in five teens say that Instagram makes them feel worse about themselves, with UK girls the most negative,” Facebook wrote in its annotation that the research had not been i...

How Democrats Could Shrink Their $3.5 Trillion Budget Bill

Technology, World
WASHINGTON — As Democratic leaders struggle to unite their caucus behind a sprawling domestic policy package, it is increasingly clear the $3.5 trillion in spending and tax increases will have to be pared back, possibly by a lot, to make it to President Biden’s desk.That will involve difficult choices for a party fractured by mistrust and competing priorities. But in a package that is intended to shape every facet of American life, including public education, health care and the environment, there is room for agreement, even in a thinly divided Congress.Here are three possible scenarios for how to structure a final deal.A slightly scaled-back plan that uses budget tricks to hold down the cost.Senator Bernie Sanders, the Vermont independent and chairman of the Senate Budget Committee, initi...
Sherwood Boehlert, a G.O.P Moderate in the House, Dies at 84

Sherwood Boehlert, a G.O.P Moderate in the House, Dies at 84

Technology
After serving in the Army, he graduated from Utica College in 1961 and managed public relations for the Wyandotte Chemical Company.Lured into politics as a supporter of relatively progressive New York Republicans like Gov. Nelson A. Rockefeller and Senator Jacob K. Javits, he went to work for Representative Alexander Pirnie, an upstate Republican, becoming his chief of staff. He later held the same job for Mr. Pirnie’s successor, Donald J. Mitchell, also a Republican.Mr. Boehlert ran successfully for Oneida County executive and, after serving a four-year term, was elected to Congress in 1982. His district, in Central New York, included Cornell University and the National Baseball Hall of Fame in Cooperstown, which helped account for the Yankee regalia in his office. Unlike many of his coll...
McCarthy Threatens Technology Firms That Comply With Riot Inquiry

McCarthy Threatens Technology Firms That Comply With Riot Inquiry

Technology
WASHINGTON — Representative Kevin McCarthy, the House Republican leader, has threatened to retaliate against any company that complies with the congressional committee investigating the Jan. 6 riot, after the panel asked dozens of firms to preserve the phone and social media records of 11 far-right members of Congress who pushed to overturn the results of the 2020 election.Mr. McCarthy’s warning was an escalation of his efforts to thwart a full accounting of the deadly attack at the Capitol carried out by a pro-Trump mob, and his latest attempt to insulate the former president and Republican lawmakers from scrutiny of any ties to the violence. It came after he led the G.O.P. opposition to the creation of an independent bipartisan commission to investigate the riot, and then pulled five Rep...
Amid Extreme Weather, a Shift Among Republicans on Climate Change

Amid Extreme Weather, a Shift Among Republicans on Climate Change

Technology, World
WASHINGTON — After a decade of disputing the existence of climate change, many leading Republicans are shifting their posture amid deadly heat waves, devastating drought and ferocious wildfires that have bludgeoned their districts and unnerved their constituents back home.Members of Congress who long insisted that the climate is changing due to natural cycles have notably adjusted that view, with many now acknowledging the solid science that emissions from burning oil, gas and coal have raised Earth’s temperature.But their growing acceptance of the reality of climate change has not translated into support for the one strategy that scientists said in a major United Nations report this week is imperative to avert an even more harrowing future: stop burning fossil fuels.Instead, Republicans w...
U.S. Authorities Seek Documents From Troubled Covid Vaccine Manufacturer

U.S. Authorities Seek Documents From Troubled Covid Vaccine Manufacturer

Technology
That decision does not mean the F.D.A. has broadly authorized Johnson & Johnson to distribute doses made by Emergent on an emergency basis. The F.D.A. signed off on previous batches of vaccine made at the Baltimore factory but with a warning that it could not guarantee the company had followed good manufacturing practices. The agency has cleared the equivalent of up to 75 million doses, but tens of millions remain in limbo.In a conference call with investors on Thursday, Emergent executives announced a $41.5 million hit from being forced to discard doses the F.D.A. had deemed unusable, and said the company had spent another $12.4 million to address manufacturing issues in Baltimore.The newly disclosed inquiries from federal and state agencies underscore a dramatic reversal of fortune f...
Democrats Call Infrastructure Bill a Down Payment on Climate

Democrats Call Infrastructure Bill a Down Payment on Climate

Technology, World
WASHINGTON — The $1 trillion infrastructure deal reached by a bipartisan group of senators on Wednesday would make a significant down payment on President Biden’s ambitious environmental agenda, including the first federal expenditure on electric vehicle charging stations and the largest investment in public transit and clean water systems in the nation’s history.The plan also includes the first federal spending designated for “climate resilience” — to adapt and rebuild roads, ports and bridges to withstand the damages wrought by the rising sea levels, stronger storms and more devastating heat waves that will come as the planet continues to warm.But the money for provisions to cut the pollution fueling climate change is a fraction of the $2 trillion that Mr. Biden once vowed to spend. The ...