Democrats move $3.5 trillion budget framework in Senate
Senate Democrats push a $3.5 trillion budget framework aimed at expanding poverty programs elder care and environmental action. The party line 50 to 49 vote signals a shift from Republican tax-cut priorities and sets a path for broader legislation amid internal party splits.
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Hochul Seeks A New Tone As New York Goes Forward
New York Lt. Gov. Kathy Hochul pledged a better tone in state government after Gov. Cuomo’s resignation amid a sexual harassment scandal. She said there will be no place for implicated aides and stressed readiness to lead, while distancing from Cuomo’s approach and highlighting progressive measures.
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Markets Extend Gains as Banks and Energy Lift Wall Street
Banks and industrials helped lift stocks with energy shares as oil rose. the S&P 500 gained 0.2 percent to 4,447.70 and the Dow rose 220.30 points to 35,484.97 while the Nasdaq slipped. Bond yields edged lower and July CPI showed a 0.5 percent month rise and 5.4 percent year over year. The Labor Department noted core CPI rose 0.3 percent from June with ongoing price pressures and a mixed inflation path. President Biden's team urged action on energy supply and the FTC to probe gasoline markets amid price pressures.
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