USA OUTLOOK WEEKLY NEWSLETTER JANUARY 15 TO 19 10001111NOVEMBER 00
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JANUARY 15, 2024
JANUARY 16, 2024
Bill to avert government shutdown advances in US Senate A bill to avert a partial U.S. government shutdown beginning this weekend cleared a first procedural hurdle in the Senate on Tuesday, as lawmakers scrambled to pass the measure through Congress before a Friday deadline. The legislation is intended to give the Democraticmajority Senate and Republican-controlled House of Representatives more time to pass a $1.59 trillion spending measure for the fiscal year that began Oct. 1.
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US lawmakers reach $78 bln deal on tax breaks, but passage uncertain The leaders of Congress tax-writing committees on Tuesday announced a nearly $80 billion bipartisan deal to enhance tax breaks for businesses and lowincome families through 2025, but prospects for passage are unclear amid bitter fiscal divisions.
The Senate voted 68-13 to begin debate on the temporary funding bill, moving it closer to passage. Once passed, the House was expected to promptly consider it. The bill would extend the pipeline for government agency funding at current levels but set two new expiration dates: money for agriculture, nutrition, transportation, housing, energy, military construction and veterans programs, now set to expire on Friday, would be extended through March 1.
The $78 billion package, agreed by Senate Finance Committee Chairman Ron Wyden, a Democrat, and House Ways and Means Committee Chair Jason Smith, a Republican, would temporarily expand the child tax credit and boost the low-income housing tax credit. It would restore business tax deductions for 100% of research and development expenses and capital expenditures for plant and equipment.
Souce: https://www.reuters.com/world/us/us-lawmakers-reach-78-bln-tax-deal-businessesfamilies-reports-2024-01-16/
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https://www.reuters.com/world/us/bill-avert-government-shutdown-advancesus-senate-2024-01-17/
JANUARY 17, 2024
JANUARY 18, 2024
US Senate bill to avert gov't shutdown wins enough votes to pass; voting continues
A U.S. Senate bill to avert a partial government shutdown beginning this weekend secured enough votes on Thursday to pass in the Democraticmajority chamber. Voting continued.
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Severe US cold snap prompts peak power and natural gas demand
Freezing temperatures in several U.S. regions triggered peak power demand in parts of the country on Wednesday, after homes and businesses consumed a record amount of natural gas for heating and power generation. The severe winter storm dumped snow across a broad part of the country this week, shutting a Gulf Coast refinery in Texas, triggering malfunctions at others, and halving North Dakota's oil production. U.S. government-owned power utility Tennessee Valley Authority saw a peak demand record on Wednesday morning, when demand hit 34,526 megawatts, beating out the previous all-time high set in August 2007, the agency said. PJM Interconnection, the largest U.S. power grid operator, covering more than a dozen states from Illinois to New Jersey, extended its cold weather advisory by a day until Jan. 22 for its western region.
Souce: https://www.reuters.com/business/energy/us-natural-gas-demand-hits-recordhigh-amid-severe-cold-snap-2024-01-17/
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https://www.reuters.com/world/us/us-senate-bill-avert-govt-shutdown-winsenough-votes-pass-voting-continues-2024-01-18/
JANUARY 19, 2024
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US launches disaster relief reforms as climate-driven events rise
U.S. President Joe Biden's administration on Friday said it was launching the most major reforms to disaster management relief in two decades as climate change-driven extreme weather events, such as floods and fires, increase. The Federal Emergency Management Agency (FEMA) reforms of its federal assistance policies and expanded benefits for disaster survivors aim to cut red tape that victims have said makes it difficult for them to access resources after a disaster. “We are on the verge of making the most significant update to survivor assistance in the last 20 years to reach more survivors and deliver assistance faster,” said FEMA Administrator Deanne Criswell in a statement.
Souce: https://www.reuters.com/world/us/us-launches-disaster-relief-reforms-climatedriven-events-rise-2024-01-19/