Senate Passes Bill, Still Needs House Vote, Oct 2nd Video Up

Hello Friends,

Well, the Senate passed their revised version of the Rescue Plan/Bill but and the big but is, will the House pass the bill as written on Friday? With the overwhelming passage of the bill at 74-25 on the yeah side, if I were a betting man, the House will vote this in on Friday.

Some key changes or adds to the bill were raising the insurability of bank deposits from $100k to $250k from FDIC to create some certainty back in the markets with the average citizen. Also, I have not seen the tax breaks mentioned but there are incentives and cuts for the middle class as well as small and medium businesses.

Finally, and typically, the economic reports that hit the wires are usually the headlines which have been buried lately but the initial jobless claims came in at a whopping 497,000, the highest number in 7 years. Analysts are expecting payroll numbers in tomorrows report to be the 9th consecutive month of wage decline.

Again, a lot of info in the video update, please watch for more news.

Be Blessed!

Category:

News & Politics

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• Senate
• Passes
• Rescue
• bill
• Mortgage
• and
• Financial
• Market
• Update