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Daily Archives: August 4, 2021
Crypto Provision In Infrastructure Bill May Force Bitcoin Miners And Blockchain Companies To Flee U.S. – Forbes
Posted: August 4, 2021 at 2:06 pm
Check in, Airport Departure & Arrival information board sign taken in 2015.
A relatively hidden provision in the $1 trillion bill plans to help pay for new roads and bridges by making the tax collection of crypto activities more efficient. However, it is inadvertently casting to wide a net over the industry, threatening its very livelihood in the U.S. A group of senators is pushing back on the language to make it more precise, but hurdles remain.
In this report, I break down what to expect in the coming days and break down what lawyers and industry participants need to know and decisions they must make.
I currently providelegal consulting to cryptocurrency and fintech companies. Prior to consulting, I spent years as Regulatory Counsel for various companies in the
I currently providelegal consulting to cryptocurrency and fintech companies. Prior to consulting, I spent years as Regulatory Counsel for various companies in the cryptocurrency space including Silvergate Bank, bitFlyer and Coinbase. I also previously served as Secretary of the Virtual Commodity Association.
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Crypto Provision In Infrastructure Bill May Force Bitcoin Miners And Blockchain Companies To Flee U.S. - Forbes
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Bitcoins Rally to $90K+ Took a Detour but Appears Back on Track – Yahoo Finance
Posted: at 2:06 pm
A month ago, see here, I showed the Bullish Elliott Waves (EWP) option for Bitcoin (BTC) looking for a rally to inittally low- to mid-$40Ks assuming a -what is called in EWP terms- 1,2,1,2 setup. Instead, it appears most likely, BTC formed an irregular flat (red) wave-ii (see Figure 1 below), completed wave-iii and is now in red (intermediate) wave-iv. Thus, IMHO, BTC took a detour but is still on track for $90K+ as long as can hold above $35495 on the current pullback. Allow me to explain.
Figure 1. Bitcoin daily chart with detailed EWP count and technical indicators.
What I originally viewed as a wave-i, ii, 1, 2, setup morphed IMHO into a wave-i, ii, a, b setup and the recent low on July 20th at $29320 was (green) minor wave-c of (red) wave-ii. Since that low, BTC rallied for ten consecutive days: wave-iii, which also subdivided nicely into five smaller (green) minor waves. A feat not seen since correction started mid-April. Besides, as you can see in Figure 1, BTC also rallied back above all its moving averages (10d, 20d, 50d) except the 200d SMA.
Moreover, the crypto currency was also able to rally back above its (green-red colored) Ichimoku Cloud. Lastly, the daily RSI5 and Money Flow Indicator (MFI14) have not been this overbought since Mid-April either. The latter is rather important as it shows BTC is experiencing genuine buying. All in all, since July 20th BTC has accomplished many good things, not seen since the entirty of the correction that started mid-April.
Because one can always find a bullish or bearish data point to support ones biased view, it is the weight of the evidence approach that allows for a much more objective interpretation. In this case it is rather obvious the weight of the evidence is predominantly bullish. All BTC now needs to do is reclaim its 200d SMA. I have outlined in Figure 1 the preferred illustrative-only path BTC now should follow based on the preferred EWP count shown, as well as the technical indicators, i.e., the RSI and MFI are often max overbought at 3rd waves because those are the strongest waves, just as BTC experienced recently.
Story continues
Bottom line: If BTC can hold above $35495 going forward (the red wave-i high made on June 24) and rally towards its 200d SMA from around current levels, then the chart shows a very good setup for five waves higher since the June 22nd low. That would then greatly increase the odds for a pullback, wave-2, before a strong rally to ideally new all time highs; wave-3. Ultimately, the triple bottoms around $30K made over the past three months must hold to prevent a bigger slide to potentially $20K. Based on the weight of the evidence I now prefer to look higher and maintain the Bullish perspective I already had a month ago.
For a look at all of todays economic events, check out our economic calendar.
This article was originally posted on FX Empire
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Bitcoins Rally to $90K+ Took a Detour but Appears Back on Track - Yahoo Finance
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Bitcoin price hovers around $38600 in early Tuesday trading – Fox Business
Posted: at 2:06 pm
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Bitcoin and Ethereum are both lower early Tuesday morning.
Bitcoin was trading at $38,602 per coin while Ethereum was trading at nearly $2,500, Coindesk reported.
Meanwhile, Dogecoin was at 19 cents and XPR was trading at 71 cents, the report said.
MAYOR SUAREZ ON MIAMICOIN LAUNCH, SAYS CITY IS FOCUSED ON DIFFERENTIATING OUR ECONOMY
With China cracking down on Bitcoin trading, investors are looking elsewhere including the West to host their machines. Industry experts tell Coindesk Factors like lead times to build out hosting sites, energy and labor costs, tax regimes, climate and political and business environments are among many local issues that make it difficult for miners to map out a specific route of migration.
Investors are targeting North America, but keeping an eye on Central Asia, Latin America and Europe as more serious contenders in the future. Some in the crypto industry are encouraging this development because it indicates a more decentralized distribution of hash power around the world and potentially assuages fears of Chinese miners having an outsized influence on the Bitcoin network.
Bitcoin and Ethereum are both lower early Tuesday morning, Coindesk reported. (iStock)
In other crypto news, a U.S. lawmaker whom Coindesk says has shown little interest in cryptocurrency in the past, is sponsoring a bill which would allow the Treasury Secretary to veto the creation of stablecoins, direct regulators to define rules for decentralized finance (DeFi) and possibly create a charter for crypto exchanges, among other measures.
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The 58-page "Digital Asset Market Structure and Investor Protection Act," which Rep. Don Beyer, D-Va., introduced Thursday, seeks to create an exhaustive regulatory regime for digital assets. The measure would define which sorts of cryptocurrencies might be securities, which can be treated as commodities and bolster tax data collecting for reporting purposes.
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Bitcoin price hovers around $38600 in early Tuesday trading - Fox Business
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Two House Democrats who broke quorum missing from Washington, D.C., reportedly vacationing in Portugal – The Texas Tribune
Posted: at 2:06 pm
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The Texas House Democratic Caucus could not account Tuesday for two of the members who broke quorum and fled for Washington, D.C., over Republicans' priority elections bill, while a Texas Monthly reporter said the members were on vacation in Portugal.
State Reps. Julie Johnson of Farmers Branch and Jessica Gonzlez of Dallas were not with other House Democrats on Tuesday in the nation's capital, according to a person familiar with the situation. On Tuesday evening, Texas Monthly reporter Jonathan Tilove tweeted that he "can confirm [Johnson] and her wife & [Gonzlez] and her fianc are in Portugal for a vacation they had been planning, with non-refundable tickets, for a year-and-a-half."
Neither Johnson nor Gonzlez, or their staffs, responded to requests for comment from The Texas Tribune throughout Tuesday and Wednesday morning.
In a text exchange though with the San Antonio Express-News on Tuesday evening, Gonzlez referred to the Portugal trip as "rumors" and said "no one has shown proof."
"These are rumors, period," she said. "End of story."
Their absence from Washington does not affect the lack of quorum that the House has in Austin that prevents the chamber from passing an elections bill. But it is at odds with House Democrats insistence that they would use their time away from the state Legislature, which they left in July, to advocate for federal voting rights legislation in the nations capital.
Gonzlez is an especially prominent player in the voting rights fight as the vice chair of the Texas House Elections Committee.
While it was reported that Johnson and Gonzlez were "still participating in caucus meetings via ZOOM," the news of their absence came the same day that more than 100 state legislators from across the country went to Washington for a rally to support the Texas Democrats. This is the last week of the special session in Austin.
The news of the Democrats' vacation brought a wave of House condemnation from their Republican colleagues who have been stuck in Austin waiting for them to return.
"Wow, just wow. Had to cancel my familys vacation last week to Grand Teton [National Park] because of a special session they helped create back in May," tweeted state Rep. Tom Oliverson of Cypress, referring to the House Democratic walkout that killed the elections bill during the regular session. "Texas deserves better than this."
Hours before word got out that Johnson and Gonzlez were missing from Washington, three of their Democratic colleagues had a news conference where they continued to express optimism about the federal elections push.
We are squarely focused on getting those pieces moving, state Rep. Joe Moody of El Paso said. I think were gonna have a lot of success this week.
Disclosure: Texas Monthly has been a financial supporter of The Texas Tribune, a nonprofit, nonpartisan news organization that is funded in part by donations from members, foundations and corporate sponsors. Financial supporters play no role in the Tribune's journalism. Find a complete list of them here.
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Celsius CEO still sees Bitcoin finishing the year between $140-160K – Yahoo Finance
Posted: at 2:06 pm
Celsisus CEO Alex Mashinsky joins Yahoo Finance to discuss the latest in cryptocurrency and why he believes Bitcoin's value will more than triple to end the year.
ADAM SHAPIRO: We got to turn our attention to what's going on in the crypto corner because Bitcoin is trading lower right now but look, it's not far off of the $40,000 mark. But let's talk about what's going to happen in a greater context with crypto and we're going to do that with Alex Mashinsky. He is the CEO of Celsius. And the potential for crypto to be used on different platforms to pay for stuff, not necessarily a pure-play to just buy the crypto coin but to use it do you see that taking on greater relevance?
ALEX MASHINSKY: So crypto's main purpose is a store value, right? It is not an exceptional form of payment I think the dollar is the opposite, right? It's an exceptional form of payment but not very good store of value. So I think there are many, many other cryptocurrencies or digital assets that serve that purpose better. Mostly, Stablecoins and other forms of digital assets. So I don't think you want to take this pristine asset and try to use it to clean the windows or do something else with it. It is very good for one thing, store of value and that's what you should be using it for.
SEANA SMITH: Alex, we're looking at a chart here of Bitcoin right now, it's trading just below $40,000. I guess what do you think is going to be that next catalyst to get it above $40,000? We were briefly there last week, although it didn't hold for too long.
ALEX MASHINSKY: Yeah, so earlier this year I talked about it kind of resisting going below $29,000 and we've seen a big jump since. And I think we are hitting some resistance here in the 40,000 to 45,000 levels. And there is not a lot of resistance above that. So I think we're going to consolidate here and then break to new highs. I still stand by my prediction that this year we will see anywhere between $140,000 and $160,000 per Bitcoin.
Story continues
ADAM SHAPIRO: I think there are a lot of people cheering what you just said. Your platform, Celsius, deals with so many people who we refer to as the unbanked. Are they going to be able to get in on this, they can via the platform can't they?
ALEX MASHINSKY: Yeah, so most of what we do is enable the average person to earn a yield on their digital assets. We have almost a million customers in 170 countries, just over $17 billion in assets in total assets and we generate yield, we pay 8.8% on Stablecoins for example. So that's 30 to 40 times more than your bank pays you and we pay 6.2% on your Bitcoin.
So what Celsius does better than anyone else is give you that yield, give you that return on your capital. And we do it in three buckets, one is again, Stablecoins, we have 12 different forms of Stablecoins, three different forms of gold. So you can now earn 5.5% gold on gold or you can venture and choose between 32 different digital assets like Bitcoin, Ethereum, Litecoin, and so on. Those are the unique things that Celsius does better than anyone else.
SEANA SMITH: What about the infrastructure bill because it does include new crypto regulations for revenue? I guess do you view this as a headwind or how big of a challenge could this potentially be to crypto going forward?
ALEX MASHINSKY: Look, for those of us who pay taxes and report all of our transactions nothing in that legislation is new or different. I think Treasury and some of the other departments are trying to make sure that they collect all the taxes that are due. And at Celsius, for example, you do get a 1099 at the end of the year that tells you exactly how much you earned in yield and you do have to pay taxes on that. So I don't see-- there's no impact to us and we've been following regulation, we've been doing KYC and AML services since 2017. So none of these new regulatory requirements make any difference. And I think clarity on the regulatory side is a very good thing, it's a positive.
Now I heard some people talk about mining and how it's going to impact mining. Celsius has over $200 million invested in mining. We're one of the largest miners in North America and I can tell you that this new regulation does not hamper or slow down any of our activities. We do have to report income, we're going to pay taxes on it. And we're happy to do it running a profitable business.
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Celsius CEO still sees Bitcoin finishing the year between $140-160K - Yahoo Finance
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Democratic Insider and a Republican Backed by Trump Win Ohio House Races – The New York Times
Posted: at 2:06 pm
The race was not as much emblematic of a liberal-moderate divide among Democrats as it was a clash between an insider who rose fast in local party circles and an agitator who thrived on alienating party leaders by questioning their commitment to liberal ideals. Both candidates were solidly liberal in their views on a range of issues, including legalizing marijuana and making college more affordable or free in some cases.
Outside political groups from different corners of the Democratic coalition invested heavily in the race. Backing Ms. Turner were left-wing environmental interests supporting the Green New Deal; the political group founded by Senator Bernie Sanders that she once ran, Our Revolution; and two progressive groups, the Working Families Party and Justice Democrats.
Supporting Ms. Brown were more institutional players and politicians like the political committee of the Congressional Black Caucus; several senior members of the caucus; Representative James E. Clyburn of South Carolina, the Democratic House whip; Hillary Clinton; Jewish Democrats; Cleveland-area Black churches; and, unofficially, Marcia Fudge, who vacated the seat this year to become Mr. Bidens secretary of housing and urban development and consented to have her mother appear in an ad endorsing Ms. Brown because she had to remain neutral as a government official.
Democratic leaders in Washington and groups that are often at odds with the progressive left were worried that a victory by Ms. Turner, who led by double digits in early polls and initially raised more money than Ms. Brown, could presage a new round of intraparty hostilities for Democrats.
And the establishment hit back hard to a degree it had not in previous battles when candidates with the support of the partys activist left, like Representatives Alexandria Ocasio-Cortez and Jamaal Bowman of New York, took out veteran politicians with little pushback.
This time, while Ms. Ocasio-Cortez and other stars of the left campaigned in Ohio for Ms. Turner, prominent members of the Congressional Black Caucus like Mr. Clyburn visited the district and implored people to vote for Ms. Brown as someone who was respectful and willing to work with other Democrats an implicit criticism of Ms. Turners more confrontational style. Many criticized her openly, like Representative Bennie Thompson of Mississippi, who referred to Ms. Turner as a single solitary know-it-all.
Advertising attacking Ms. Turners professionalism and character was ubiquitous in the district during the final days of the campaign. One ad from the centrist group Third Way compared Ms. Turners political style and tone to Mr. Trumps, and replayed an on-camera moment she has struggled to live down throughout the campaign in which she made a crude analogy to the choice between Mr. Biden, whom she did not support, and Mr. Trump.
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Democratic Insider and a Republican Backed by Trump Win Ohio House Races - The New York Times
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China’s attempt to kill Bitcoin failed Here are 3 reasons why – Cointelegraph
Posted: at 2:06 pm
Bitcoin (BTC) might have suffered its largest coordinated attack over the last couple of months, but in this instance, the investor community did not capitulate. China outright banning mining in most regionsafter giving BTC miners atwo-week notice and this caused the single largest mining difficulty adjustment after the network hash rate dropped 50%.
The market sentiment surrounding Bitcoin was already damaged after Elon Musk announced that Tesla would no longer accept Bitcoin payments due to the environmental impact of the mining process.It remains unknown whether Chinas decision was influenced or related to Musks remarks, but undoubtedly those events held a negative effect.
A couple of weeks later, on June 16, China blocked cryptocurrency exchanges from web search results. Meanwhile, derivatives exchange Huobi started to restrict leverage trading and blocked new users from China.
Finally, on June 21, the Peoples Bank of China (PBoC) instructed banks to shut down the bank accounts of over-the-counter desksand even their social networks accounts were banned. OTC desk essentially act as a fiat gateway in the region so without them it would be difficult to exchange from Bitcoin to stablecoins.
As these events unfolded, some analysts were reluctant to describe the tactics as nothing other than meaningless FUD, but in hindsight, it appears that China launched a very well-planned and executed attack on the Bitcoin network and mining industry.
The short-term impact could be considered a moderate success due to the collapse in Bitcoin price and the rising concerns that a 51% hashrate attack could occur.
Despite themaneuvers, China's attack ultimately failed and here are the main reasons why.
After peaking at 186 million TH/s on May 12, the Bitcoin network hash rate, an estimate of the total mining power, started to plunge. The first couple of weeks were due to restrictions to coal-powered areas, estimated at 25% of the mining capacity.
However, as the ban extended to other regions, the indicator bottomed at 85 million TH/s, its lowest level in two years.
As the data above indicates, the Bitcoin network's processing power recovered to 100 million TH/s in less than three weeks. Some miners had successfully moved their equipment to Kazakhstan, while others shifted to Canada and the U.S.
Even though the companies involved in crypto transactions have been banned from the country, individuals continued to act as intermediariessome of these recorded over 10,000 successful peer-to-peer transactions according to data from the exchanges own ranking system.
Both Huobi and Binance offer a similar marketplace where users can trade multiple cryptocurrencies including USD Tether (USDT). After converting their fiat to stablecoin, transacting on a regular or derivatives exchange becomes possible.
A complete crackdown on trading from Chinese entities would likely be reflected in the exchanges previously based on the region, like Binance, OKEx, and Huobi. However, looking at the recent volume data, there hadnt been a meaningful impact.
Take notice of how the three 'Asia-based' exchanges remain dominant, while Coinbase, Kraken, and Bitfinex are nowhere near their trading activities.
China's ban on Bitcoin mining and transactions may have led to some temporary hiccups and a negative impact on BTC price, but the network and price have recovered in a way that is better than many expected.
Currently, there is no way to measure the OTC transactions where larger blocks are traded but it is just a matter of time until these intermediaries find new gateways and payment routes.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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China's attempt to kill Bitcoin failed Here are 3 reasons why - Cointelegraph
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AP: What election? California Democrats worry over recall apathy – Associated Press
Posted: at 2:06 pm
SACRAMENTO, Calif. (AP) California Gov. Gavin Newsom has a simple way to beat back the recall election that could force him out of his job: Get Democrats to vote.
But it may not be as easy as it sounds. Democratic registration almost doubles that of Republicans in the state, but party leaders are alarmed because Republicans appear more eager to vote, which is backed up by polling. Some Democrats might not be paying attention because they are convinced Newsom is headed toward an easy victory.
The kind of voter Newsom needs to connect with is 37-year-old barber Dwayne Speed of Sacramento, who is a registered Democrat but has been thinking about switching to independent. He felt Newsom pushed his own personal agenda during the pandemic. But he isnt convinced by recall supporters either and hasnt decided how he will vote.
I want to know every single basis that theyre trying to recall him on, Speed said. Nobodys going to have a job and do it 100% perfectly.
Interviews with about 20 voters across Sacramento, Fresno and Los Angeles reveal the challenges Newsom faces just two weeks before ballots start arriving in voters mailboxes ahead of the Sept. 14 contest. While a handful of voters had decisive plans to vote for Newsom, many were aware of the recall but hadnt yet formed an opinion, did not know when the election was scheduled, or were lukewarm on Newsom.
Among Newsoms challenges: Voters arent used to elections in odd-numbered years, and certainly not in September. Many voters have turned away from television platforms that carry ads, and resurgent coronavirus rates could make people unwilling to answer a knock at the door from a campaign worker. But every voter will get a ballot in the mail, giving them an easy opportunity to participate.
The recall effort was launched by novice Republican activists last year before the pandemic took hold, and they successfully gathered more than the 1.5 million signatures required by state law to place it on the ballot. Their effort was initially seen as a long shot that drew little attention. But signatures spiked after Newsom was caught dining out at the high-end French Laundry restaurant in Northern California for a birthday party while urging people to stay home and avoid gatherings.
In Los Angeles, 24-year-old Nick Yi, a registered independent who is between jobs, said he hasnt been paying much attention to the recall, in part because he has been staying away from news to avoid accounts of Asian hate crimes, which he finds upsetting.
He expects to vote and tends to lean Democratic. But he doesnt have a strong impression of Newsom, calling him someone who is passionate and Republicans dont like.
As Newsoms team looks to engage voters like Yi, they are spending significant time branding the effort as a partisan contest. The majority of his TV ads have made a case against the recall rather than one for Newsom, branding it as a Republican power grab.
One ad shows video of people storming the U.S. Capitol on Jan. 6. In another, Sen. Elizabeth Warren of Massachusetts tells voters weve seen Trump Republicans across the country attacking election results and the right to vote. Now theyre coming to grab power in California.
Democrats are openly sounding the alarm. Juan Rodriguez, campaign manager of the anti-recall effort, told The Associated Press he is very concerned about turnout. In an interview with editorial boards for McClatchys California newspapers, Newsom warned that the recall would have profound consequences heading into the 2022 midterm elections. The campaign has already sent 14 million text messages to voters, and Rodriguez said enthusiasm is increasing as Democrats learn more about the race.
Three months ago, Myra Coble of Fresno was a Democrat who was convinced Newsom couldnt be recalled. Now shes a volunteer with the county party trying to convince other Democrats not to rest on that assumption.
Our fear is that in this election, Republicans will turn out and Democrats will be complacent because they think it cant happen, she said.
Democratic President Joe Biden won Fresno County with 53% of the vote in the 2020 presidential election. Though Fresno and other counties in the Central Valley are home to fewer voters than population power centers like San Diego and Los Angeles, Newsom has touted his commitment to the region throughout his governorship and traveled there regularly.
But his message doesnt always break through. Curtis Selland and Leslie Pugsley are two Fresno County Democrats who will vote to keep Newsom but arent his biggest fans.
Pugsley, 57, applauded the job Newsom did during the early months of coronavirus when he acted quickly to shut down schools and businesses. But she thinks he comes off as a snooty San Francisco liberal who isnt genuine.
On the opposite end, Christina Grout, 37, is a Democrat and mother of two from Sacramento who is excited to support Newsom.
A disability justice advocate, she pays close attention to state politics and appreciated Newsoms handling of the pandemic. If anything, she would have liked to see him be more aggressive by keeping the states mask mandate in place longer. The state dropped its mandate for vaccinated people on June 15. But on Wednesday, state officials began recommending people wear masks indoors again.
I feel proud to be a Californian, Grout said.
Los Angeles County, meanwhile, could present Newsoms biggest challenge. It is home to more than 3 million Democrats and is a place where statewide elections can be won or lost. But voters often shrug at politics and can be especially difficult to get to the polls, even during a routine November election.
Outside a local library, independent Jonathan Montes, 22, said he plans to vote but is undecided about Newsom. He is troubled by climbing rents and the unchecked spread of homelessness - people could be seen slumped in doorways nearby, or splayed beneath trees.
Hes going to give Newsom a close look before making a decision, but at this point I would like to see someone else, Montes said. Newsom hasnt lived up to expectations.
___
Blood reported from Los Angeles.
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Biden to Meet with Top Democrats on New Voting Rights Proposal – The New York Times
Posted: at 2:06 pm
President Biden, Vice President Kamala Harris and the top Democrats in Congress met at the White House on Friday to discuss their partys faltering efforts to pass major voting rights legislation.
Mr. Bidens meeting with Speaker Nancy Pelosi of California and Senator Chuck Schumer of New York came at a crucial moment, as activists are pushing the president to use his power and Democrats control of Congress to protect voting rights while they have the chance. Republican-led states have enacted at least 30 new laws containing a host of new restrictions on voting, and G.O.P. senators have blocked consideration of a Democratic bill that would impose sweeping new federal mandates aimed at overriding them.
Party leaders do not have many options to break through the gridlock. In June, Republicans successfully stalled Democrats marquee elections legislation, called the For the People Act, by filibustering it. Democrats hopes of changing Senate filibuster rules to bypass Republicans have flagged as a few holdouts within the party continue to oppose such a move. And their window for legislative action is narrow.
Democrats are close to finalizing a scaled-back bill that activists hope could be a battering ram in the fight over the filibuster. The party is also readying legislation to reinforce the Voting Rights Act of 1965 and lawmakers have discussed tucking voting provisions into the $3.5 trillion budget plan advancing in the Senate, which they can push through unilaterally over the opposition of Republicans. But the G.O.P. is largely opposed to all three.
In a statement after the meeting, the White House called passing legislation on the issue a moral imperative.
Recognizing the challenges ahead, the four leaders agreed on the importance of advancing legislation reflecting the priorities and values of those two bills, having them pass the House of Representatives and the Senate, and withstand constitutional challenge, the statement said.
Senator Amy Klobuchar, Democrat of Minnesota, confirmed on Thursday that a small group of Democratic senators had been meeting to hash out a revised bill that could be released in the coming days. Among them is Senator Joe Manchin III of West Virginia, a moderate who balked at some of the more expansive proposals in the For the People Act and has been a determined holdout on keeping the filibuster intact.
This isnt one of these Oh, maybe well get it done, Ms. Klobuchar said on Thursday during a call hosted by SiX Action, a progressive group, saying the emerging measure would have provisions on gerrymandering, voting by mail and automatic voter registration. We are very close to getting an agreement on that bill.
There is no indication that an accord among a small group of Democrats would draw any more Republican backing than previous proposals have. But activists and progressives want to see the revised measure come up for a vote before the Senate leaves Washington for its August recess, anticipating that it would fail and intensify pressure to dismantle the filibuster.
Mr. Schumer has yet to commit to a timeline, and it is unclear if he would want a full-fledged filibuster fight playing out just as he and Mr. Biden are trying to maneuver a bipartisan infrastructure bill through the Senate.
The revised elections legislation is built around a rough framework provided by Mr. Manchin earlier this year. It is expected to mandate that states provide 15 days of early, in-person voting, including at least two Sundays; a national expansion of mail-in voting; an end to partisan gerrymandering of congressional districts; a national voter identification requirement; and campaign finance provisions that would require super PACs to disclose the identities of their big donors.
The bills authors also plan to include language intended to undercut state laws in places like Georgia that they believe would allow Republican elected officials to subvert the results of an election to favor their candidates. Federal lawmakers specifically want to make it harder for their state counterparts to remove local election officials and harder for partisan poll watchers to intimidate voters and election workers. They also want to make the process of challenging any individuals ability to register to vote more difficult.
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Biden to Meet with Top Democrats on New Voting Rights Proposal - The New York Times
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Democrats’ national party workers forming union – Associated Press
Posted: at 2:06 pm
Staff members at the Democratic National Committee in Washington have opted to organize a union for collective bargaining rights, party and union officials said Tuesday.
The move marks the first time a national party organization has become a union shop, despite Democrats long relationship with organized labor. The development also follows a presidential campaign during which several Democratic candidates campaign staffs, including that of President Joe Biden, formed unions.
Employees at DNC headquarters will soon be part of the Service Employees International Local 500, the union confirmed in a statement.
Neither party officials nor the union released details of the vote, but DNC officials cast the outcome as proof of its commitment to labor.
As the DNC told SEIU, if a majority of DNC employees in a mutually agreed-upon bargaining unit express their desire to form a union, we will be proud to voluntarily recognize that union, said Executive Director Sam Cornale in a statement.
One of the organizers, Christen Sparago, who works in the DNCs fundraising office, called the union an opportunity for the DNC to live its values and said workers are eager to begin negotiations for an initial contract.
The SEIU local already represents public sector and not-for-profit sector workers in the nations capital and the surrounding Maryland suburbs.
Democrats 2020 platform pledges that the party will make it easier for workers, public and private, to exercise their right to organize and join unions. Biden, an ally of organized labor since his election to the Senate in 1972, pledged to be the most pro-union president youve ever seen.
During the campaign, Bidens field organizers joined Teamsters Local 238 and signed a contract with the campaign that included overtime pay beyond 40 hours per week and health insurance coverage with the campaign covering the entire premium, among other provisions.
In March, the House passed a sweeping overhaul of federal labor law designed to invigorate unions by making it easier to organize and harder for state laws to inhibit unions. The PRO Act passed 225-206 on a largely party line vote but has virtually no chance to clear the 50-50 Senate, where rules allow Republican opposition to block any bill that has support from fewer than 60 senators.
Democrats push for the most significant labor law change since the Great Depression comes after a decades-long slide in union membership. In 1970, almost a third of the U.S. workforce was unionized. In 2020, that number was 10.8%.
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Democrats' national party workers forming union - Associated Press
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