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Congress · 117th Congress

Schumer: Senate closing in on omnibus amendments deal

It would extend the program to 2027 and provide $1 billion to help ensure new claims can still be accepted, although that’s short of the $3.6 billion advocates had been seeking to fully erase the budget

Congress · 117th Congress

Bipartisan crypto bill outlines regulatory, tax framework

The drop in value of some cryptocurrencies in May, including the algorithmic stablecoin Terra, which lost its $1 peg, was followed by dips in other cryptocurrencies including bitcoin and Tether.

Congress · 117th Congress

GOP talk of school ‘hardening’ panned as fig leaf by Democrats

Congress has already moved to provide more school security funding in recent years, authorizing $1 billion over 10 years following the 2018 shooting at Marjory Stoneman Douglas High School in Parkland

Policy · 117th Congress

Critics see risk in ‘algorithmic’ stablecoins

If the price of the stablecoin rises above $1 based on investor demand, a Luna holder can swap $1 worth of Luna for that coin, making a profit from the higher price.

Congress · 117th Congress

Treasury pushes global crypto data-sharing rules in budget bill

Rettig has estimated the “tax gap” — the difference between taxes owed and paid to the federal government — stands at $1 trillion each year, with a portion coming from unpaid taxes on cryptocurrency trades

Congress · 117th Congress

Amendment holds slow Senate infrastructure bill’s progress

Individual senators’ holds on bipartisan amendments slowed debate on a nearly $1 trillion infrastructure bill Tuesday, casting doubt on Senate Democrats’ hopes of wrapping up the bill by this weekend.