McConnell Throws Wrench In Democrat-Controlled Senate…

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Date: January 29, 2021

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“Mitch McFilibuster blocks everything, dragging his feet for the new Senate majority. John Iadarola and Adrienne Lawrence break it down on The Damage Report.

Senate Republican leader Mitch McConnell backed off his demand that Senate Democrats preserve the procedural tool known as the filibuster, easing a standoff with new Majority Leader Chuck Schumer as the two negotiated a power-sharing agreement in the closely divided chamber.

McConnell said late Monday he had essentially accomplished his goal after two Democratic senators said they would not agree to changing the rules to end the filibuster, which would require a 60-vote threshold to advance most legislation. Without the support of all Democratic senators, a rules change would fail.

Citation:
https://apnews.com/article/politics-filibusters-kyrsten-sinema-joe-manchin-mitch-mcconnell-e2cc0c9fe29370b009277877604745e0“

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Florida Republican Spits On Minimum Wage Workers…

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Date: January 29, 2021

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“Florida Republicans are back at again.

Just months ago, Florida residents overwhelmingly voted to approve “Amendment 2,” a ballot initiative that raised the state’s minimum wage to $15 an hour by September 2026. Today, St. Petersburg State Senator Jeffrey Brandes—a well-connected veteran of the Florida GOP—filed SJR 854, a measure that will, if enacted, exempt some Floridians from the increased minimum-wage protection.

The Florida legislature has long treated grassroots ballot initiatives with open contempt. In 2017, after more than 70 percent of state voters elected to legalize medical marijuana, state lawmakers responded by temporarily making it illegal to smoke medicinal weed. In 2018, when a supermajority of Floridians voted to return voting rights to at least 1.4 million formerly incarcerated people, the GOP-dominated legislature passed a glorified poll-tax that made sure that 800,000 of those people remained ineligible to vote. This week, like clockwork, the state Republican Party—dominated by pro-Trump apparatchiks and a smaller Libertarian-minded wing—has launched its plan to kneecap the minimum wage increase, which passed with over 60 percent approval.

Citation:
https://theappeal.org/jeffrey-brandes-felony-convictions-minimum-wage-increase/“

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How Reddit Is Tanking Wall Street Hedge Funds…

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Date: January 29, 2021

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“GameStop Corp.’s stock spiked past $150 Monday, then plummeted to a loss on the day in another volatile session as loyalists and short sellers clashed over the value of the videogame retailer.

GameStop GME, 105.84% shares flew as much as 144% higher to an intraday record of $159.18 earlier Monday while being halted several times. Soon after, shares briefly fell into the red on the day, before settling at around a 20% gain in the second half of the trading day.

The stock finished up 18% at $76.79, a record-high close. More than 175 million shares exchanged hands by the close on a stock that’s averaged daily volume of less than 9 million shares over the past 52 weeks. Friday’s volume for GameStop’s stock was a record-high 197.2 million shares.

Citation:
https://www.marketwatch.com/story/gamestop-stock-more-than-doubles-to-record-high-then-loses-it-all-in-another-volatile-day-of-trading-11611600212“

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