Thursday, July 29

infrastructure bill

Congress, Debt Ceiling, Democrats, Economy, infrastructure bill, Mitch McConnell, National Debt, Politics, Reconciliation, senate republicans, White House

Democrats slam Mitch McConnell for taking economy’hostage’ by rallying GOP against extending US’s ability to pay its bills on time

Democrats assailed Mitch McConnell for trying to rally Republicans against raising the debt ceiling. "He's not going to be able to hold the economy hostage," a top Democrat said Wednesday. Republicans had previously backed raising the debt ceiling under Trump. LoadingSomething is loading. Congressional Democrats slammed Senate Minority Leader M...
Big Tech, BlackRock, Health Care, infrastructure bill, Markets, MI Exclusive, Stocks

Big tech and healthcare stocks stand to lose most from potential Biden tax hikes, BlackRock says

Shannon Stapleton/Reuters Large-cap tech and healthcare stocks could suffer the most if US taxes go up or if a global minimum tax is enacted, BlackRock analysts wrote in a note. The category with the biggest market cap and lowest effective rate was information technology, including the likes of Amazon and Microsoft. The analysts suggested investors consider small- and medium-cap firms that are less exposed to international tax changes. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Large-cap tech and healthcare stocks could suffer the most if US taxes go up or if a global minimum tax is enacted, BlackRock analysts wrote in a note on Monday.The note examined effective tax rates for each sector of the S&P 500, comparing them to the sector's relative mark...
Bernie Sanders, Biden infrastructure plan, Child tax credit, Congress, Democrats, Economy, infrastructure bill, Joe Biden, Joe Manchin, Policy, Politics, Republicans, senate republicans, weekend BI US, White House

Joe Manchin indicated he would cut a Democratic-only infrastructure plan to $2 trillion so it doesn’t grow the national debt

Manchin said Sunday he would support a $2 trillion Democratic-only infrastructure plan. Senate Democrats are weighing up to $6 trillion in new spending, and Manchin may derail their ambitions. "I do not want to add more debt on," Manchin said on ABC's "This Week." LoadingSomething is loading. ...
Amtrak, Amtrak Joe, BITranspo, Business Visual Features, Infrastructure, infrastructure bill, infrastructure spending, Rail Freight, Rail travel, train travel, Trains, Transportation, Travel

Amtrak may not see the full $80 billion Biden suggested, but planned infrastructure laws may finally help it beat out freight trains

Biden's revised $1.2 trillion infrastructure plan doesn't give Amtrak the $80 billion it was initially promised. Passenger and freight rail will only get a combined $66 billion if the compromise proposal passes. Amtrak may, however, get to take freight rail companies to court over disputes that have been causing lengthy delays. LoadingSomething is loading. ...
Bond Yields, Dow Jones, infrastructure bill, Joe Biden, Markets, MI Exclusive, NASDAQ, oil prices, s&p 500, ukmarketwrap, US stocks

S&P 500 and Nasdaq futures hover near record highs after Joe Biden strikes $1 trillion infrastructure deal, while oil prices rise

President Joe Biden (right) reached a deal with Republicans on infrastructure. Jacquelyn Martin/AP S&P 500 futures hovered near a record high on Friday after President Joe Biden struck a deal with Republicans on a $1 trillion infrastructure deal, which includes $579 billion of new spending.Futures for the benchmark S&P 500 were up 0.05%, while Nasdaq 100 futures rose 0.04%, after both indices hit a record high on Thursday. Dow Jones futures rose 0.26%, with industrial firms more likely to benefit from infrastructure spending.In Asia overnight, China's CSI 300 jumped 1.63% while Japan's Nikkei 225 climbed 0.66%. In Europe, the Stoxx 600 index slipped 0.09% in early trading.President Biden's deal would see over $1 trillion spent on upgrading the US's infrastructure over the next ei...
Economy, infrastructure bill, Politics

Bipartisan group of senators reach deal for’framework’ of infrastructure package, to meet with Biden tomorrow

The bipartisan group of senators meeting with White House officials said they reached a'framework' for a deal. They will present their framework for the massive spending package to President Joe Biden tomorrow. Senators will still need to draft legislation and gin up 60 votes in the Senate to pass the bill. LoadingSomething is loading. ...
Bernie Sanders, Economy, infrastructure bill, Joe Biden, Politics, weekend BI US

Bernie Sanders says he won’t support the bipartisan infrastructure bill if its paid for by raising gas taxes or creating fees on electric vehicles

Vermont Sen. Bernie Sanders said Sunday he didn't support the latest proposal for a bipartisan infrastructure bill. Sanders expressed concerns over how lawmakers may pay for the bill. He said he did not support an increased tax on gasoline or imposing fees on electric vehicles. See more stories on Insider's business page. Vermont Sen. Bernie Sanders said Sunday that he believes the contents of a bipartisan infrastructure bill are "mostly good," but said he has concerns over how lawmakers may decide to fund it.Sanders, an Independent, made the comments during an appearance on NBC's "Meet the Press." "What is in the bipartisan bill i...