McConnell slates October revote on relief plan

For her part, Pelosi issued a statement again criticizing Trump for caring chiefly about the direct payments.

“A fly on the wall or wherever else it might land in the Oval Office tells me that the President only wants his name on a check to go out before Election Day and for the market to go up,” Pelosi said in a letter to her colleagues.

She defended her hardline position on a Tuesday conference call with fellow Democrats, claiming Democrats have more leverage than ever. But the risk of emerging empty-handed until next year appears very real.

To recap, talks on the latest potential round of COVID relief began in July, collapsed in August, and were revived last month. Last week alone saw Trump cause the talks to collapse on Tuesday, only to revive them heading into the weekend. They then cratered again on Saturday after Trump’s latest $1.8 trillion

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McConnell slates October revote on GOP COVID relief plan

Senate Majority Leader Mitch McConnell says that he’s scheduling a vote regarding a GOP COVID-19 relief bill for later this month

WASHINGTON — Senate Majority Leader Mitch McConnell said Tuesday that he’s scheduling a vote regarding a GOP COVID-19 relief bill for later this month, saying aid to hard-hit businesses shouldn’t be held up by gridlock involving other aid proposals.

The Kentucky Republican says the first item of Senate business when the chamber returns Oct. 19 will be a procedural vote on a scaled-back aid bill. Democrats filibustered a GOP-drafted aid bill last month and recent talks on a larger deal with House Speaker Nancy Pelosi, D-Calif., fell apart this past weekend, probably for good.

“Democrats have spent months blocking policies they do not even oppose. They

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An analysis of Joe Biden’s tax proposals, October 2020 update | American Enterprise Institute

Key Points

  • Using the Tax-Calculator (3.0.0) microsimulation
    model, we estimate that Joe Biden’s propos­als would raise federal revenue by
    $2.8 trillion over the next decade (2021–30).
  • The majority of new federal revenue would come
    from businesses and corporations ($1.9 tril­lion). The remaining revenue would
    come from individual income and payroll tax increases ($616.8 billion) and an
    increase in estate and gift taxes ($276.4 billion).
  • In 2021, Biden’s proposals would increase taxes,
    on average, for the top 5 percent of households and reduce taxes on households
    in the bottom 95 percent. In 2030, Biden’s proposals would increase taxes, on
    average, for households at every income level, but tax increases would
    primarily fall on the top 1 percent of income earners.
  • Using the open-source OG-USA (0.6.2) model, we
    estimate that Biden’s proposals would reduce gross domestic product (GDP) by
    0.16 percent over the next decade, slightly increase GDP the second decade
    (0.19
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Best travel credit cards for October 2020

While the coronavirus pandemic may have you grounded right now, when you get back to hitting the road or the skies, you’ll want to be equipped with the best credit card possible. Travel credit cards come with some of the highest travel reward rates available — each time you use one, the points you earn with your travel rewards card can be used towards a future (or sometimes a past) travel purchase. 

A travel rewards card also comes in handy for travel perks such as free TSA Precheck and Global Entry, priority boarding, exclusive hotel or rental car benefits and first-class upgrades for the frequent traveler.

Read more: Airline cards vs. travel credit cards: The pros and cons — and which one’s better for you

How to pick

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5 Sector ETFs Gaining in Double Digits to Start October

Wall Street registered back-to-back weekly gains with the S&P 500 and Nasdaq Composite Index seeing their best week since July, and the Dow Jones enjoying biggest weekly rise since August.

The optimism came primarily on the back of prospects for another round of fiscal stimulus from Congress. Per Fox Business News, there were “really good” odds of reaching a deal with Democrats in Congress on a new round of coronavirus stimulus for the battered U.S. economy. A report from the Wall Street Journal stated that Treasury Secretary Steven Mnuchin is drafting a proposal worth $1.8 trillion, closer to the $2.2 trillion package proposed by U.S. House Speaker Nancy Pelosi (read: 5 ETFs Rising as ‘Reflation Trade’ Picks Up on Stimulus Hope).

Additionally, growing expectations of a Democratic victory in next month’s presidential election is driving the stocks higher. Market speculators believe that if the Democrats take the White House and

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G20 Finance Ministers and Central Bank Governors Meeting and Virtual Press Conference to be held October 14

Press release content from PR Newswire. The AP news staff was not involved in its creation.

Press release content from PR Newswire. The AP news staff was not involved in its creation.

October 12, 2020 GMT

RIYADH, Saudi Arabia, Oct. 12, 2020 /PRNewswire/ — The fourth G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting will be held virtually on October 14 under the Saudi G20 Presidency to discuss the global economic development and support a swift and sustained global economic recovery. FMCBGs will also discuss updates to the G20 Action Plan – Supporting the Global Economy through the COVID-19 Pandemic (the G20 Action Plan) – in addition to the progress made on the G20 Debt Service Suspension Initiative and its proposed extension into 2021.

After the conclusion of the meeting, a virtual press conference will be conducted at 6:15 PM Riyadh time (UTC+3) by the

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TikTok VP Blake Chandlee to speak at Business Insider event in October

Business Insider is proud to announce that Blake Chandlee will speak at the inaugural BI Global Trends Festival, a virtual event taking place the week of October 19-23, 2020.

Chandlee is the VP overseeing all of TikTok’s ad partnerships, sales operations, and anything the app does to generate revenue — making him one of the most important people running the company’s US operations today.

The company has been in the spotlight since the Trump administration’s attempts to issue a nationwide ban on the app, which allows users to record short videos synchronized with music. Now, the decision on the ban will be delayed until at least after Election Day 2020.

Chandlee came in at the beginning of 2020 to head up TikTok’s global business solutions, the division working with brands to advertise on the growing platform, Business Insider previously reported. Under Chandlee, TikTok’s ad product offerings have expanded dramatically, to

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White House Weekly: October 12

We begin on Friday, October 2nd, following his announcement late into Thursday night that he and the First Lady tested positive for COVID-19, President Trump leaves the White House for Walter Reed Military Medical Center “out of an abundance of caution.”



a sign in front of a building


© Provided by Washington Examiner


As a result of Trump’s positive test, the Trump campaign postpones all future campaign events. Vice President Mike Pence tests negative for the virus while campaign manager Bill Stepien and former White House adviser Kellyanne Conway test positive. Senators Ron Johnson, Thom Tillis, and Mike Lee also tested positive.

It’s a very sobering moment for the presidency. Faced with a deadly virus with a month until the election created the type of chaos you only see from a so-called October surprise.

Saturday, October 3rd, mixed messages emerge from the White House after Trump’s physician Dr. Sean Conley paints a rosy characterization of

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Business Insider’s top advertising and media stories for October 12

Hi! Welcome to the Insider Advertising daily for October 12. I’m Lauren Johnson, a senior advertising reporter at Business Insider. Subscribe here to get this newsletter in your inbox every weekday. Send me feedback or tips at [email protected]

Today’s news: Postmaster General Louis DeJoy hires a consulting firm, Beyond Meat bets big on breakfast, and Instagram adds audio features to Reels.


Louis DeJoy



Tom Williams/CQ-Roll Call, Inc via Getty Images/Pool


Facing Congressional investigation, Postmaster General DeJoy hires a consulting and PR firm with deep Trump administration ties

Read the full story here.


Beyond Breakfast Sausage Links tacos



Beyond Meat


Beyond Meat thinks breakfast is the next big battlefield for plant-based meat makers — its CMO explains why

Read the full story here.


Instagram Reels - audio features.

Instagram Reels introduced new audio features to make songs more discoverable and shareable on Thursday, October 8, 2020.

Instagram.


Instagram has added new audio features to Reels that solve a major pain point for music

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The Capital Letter: Week of October 5

Call me crazy, but I’m not convinced that the latest round of talks on a new stimulus package are going as well as they might be.



a traffic light on a city street at night


© James Lawler Duggan/Reuters


Bloomberg:

President Donald Trump and House Speaker Nancy Pelosi questioned each other’s mental faculties, showcasing increasing partisan tensions as Election Day looms.

“The president is, shall we say, in an altered state right now, so I don’t know how to answer for his behavior.,” Pelosi said in an interview on Bloomberg Television Thursday.

The Democratic leader also called Trump’s changing positions this week on whether to let his administration conduct talks on fiscal stimulus “strange.” Trump pulled his team from negotiations Tuesday, prompting Pelosi to suggest to colleagues that day that Trump’s thinking might have been affected by the steroids he’s taken to battle his Covid-19, Bloomberg has reported.

“The disassociation from reality would be funny if it

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