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Rail strike prevented, Congress probes PPP fraud: 5 Issues podcast

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On right this moment’s episode of the 5 Issues podcast: Rail strike averted with Senate vote

Bipartisan leaders in Congress mentioned they had no selection. Plus, Biden renews ties with France and the Supreme Courtroom takes on Biden’s pupil mortgage forgiveness plan.

Podcasts:True crime, in-depth interviews and extra USA TODAY podcasts proper right here.

Hit play on the participant above to listen to the podcast and comply with together with the transcript beneath. This transcript was mechanically generated, after which edited for readability in its present kind. There could also be some variations between the audio and the textual content.

Cherie Saunders:

Good morning. I am Cherie Saunders, and that is 5 Issues you want to know Friday, the 2nd of December 2022. At this time, Congress averts a rail strike, plus a congressional report particulars PPP fraud, a take a look at US/France relations, and the Supreme Courtroom takes on Biden’s pupil mortgage forgiveness.

A nationwide freight rail strike has been averted after the Senate voted yesterday to impose a tentatively permitted labor deal. The 80 to fifteen vote marked the primary time in 30 years that Congress intervened to cease a rail strike. The home handed the laws on Wednesday. President Joe Biden informed reporters Thursday morning {that a} rail strike would’ve decimated the US economic system and triggered a recession. The invoice adopts a tentative settlement reached in September between union leaders and freight operators. It features a 24% pay improve over 5 years, $5,000 bonuses, voluntary assigned days off, however just one paid break day, a significant sticking level in getting the union’s approval. An extra measure handed within the Home would’ve supplied rail staff with seven paid sick days, however the Senate rejected the addition of paid sick time, ignoring the calls for of progressives who mentioned the railroads may afford it. Senate passage of the invoice was the ultimate step earlier than it heads to President Joe Biden’s desk to be signed into regulation.

A congressional subcommittee issued its last report Thursday about monetary fraud supercharged by on-line lending in the course of the pandemic. The report alleged executives and their households enriched themselves via the federal government’s Paycheck Safety Program. South Carolina Congressman James Clyburn, the Democratic Chairman of the Choose Subcommittee on the Coronavirus Disaster, targeted a lot of the 130 web page report on the businesses Womply and Blueacorn, two main gamers that fused tech and financing to hurry up lending. Seems Womply had zero lending expertise earlier than the pandemic and Blueacorn did not even exist. Altogether, the 2 corporations captured greater than $3 billion in charges for facilitating enterprise loans. The startups usually are not banks, however labored as middlemen advertising and marketing to struggling companies and rapidly approving loans with associate banks.

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