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- RajBengalRajBengal
  ·2021-10-25
  A couple of things here are ironical.If the share is expected to drop only by the %age of revenue miss, you won't need a stock market. The price would've been fixed and you can buy it like any other goods.Apple only tightened the user control of activity tracking and this resulted in all the social media stocks tanking. This shows how much the violation of user privacy means for these stocks. Each big corporate talks big on the need of privacy but does exactly the opposite.
  Apple Crushes Social Media Stocks: What To Do Next
  Snap stock crumbled on Friday, shedding tens of billions of dollars in market value – and Apple is t
  Apple Crushes Social Media Stocks: What To Do Next
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- RajBengalRajBengal
  ·2021-09-30
  Crunch time is the best time to extract your pound of flesh.
  Infrastructure Bill in Peril as Democrats Strain to Unite Party
  Party leaders meanwhile work to bridge gaps between moderates, progressives on $3.5 trillion bill on
  Infrastructure Bill in Peril as Democrats Strain to Unite Party
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The price would've been fixed and you can buy it like any other goods.Apple only tightened the user control of activity tracking and this resulted in all the social media stocks tanking. This shows how much the violation of user privacy means for these stocks. Each big corporate talks big on the need of privacy but does exactly the opposite.","listText":"A couple of things here are ironical.If the share is expected to drop only by the %age of revenue miss, you won't need a stock market. The price would've been fixed and you can buy it like any other goods.Apple only tightened the user control of activity tracking and this resulted in all the social media stocks tanking. This shows how much the violation of user privacy means for these stocks. Each big corporate talks big on the need of privacy but does exactly the opposite.","text":"A couple of things here are ironical.If the share is expected to drop only by the %age of revenue miss, you won't need a stock market. The price would've been fixed and you can buy it like any other goods.Apple only tightened the user control of activity tracking and this resulted in all the social media stocks tanking. This shows how much the violation of user privacy means for these stocks. Each big corporate talks big on the need of privacy but does exactly the opposite.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/858753020","repostId":"1138536137","repostType":4,"repost":{"id":"1138536137","pubTimestamp":1635120525,"share":"https://www.laohu8.com/m/news/1138536137?lang=&edition=full","pubTime":"2021-10-25 08:08","market":"us","language":"en","title":"Apple Crushes Social Media Stocks: What To Do Next","url":"https://stock-news.laohu8.com/highlight/detail?id=1138536137","media":"TheStreet","summary":"Snap stock crumbled on Friday, shedding tens of billions of dollars in market value – and Apple is t","content":"<p>Snap stock crumbled on&nbsp;Friday, shedding tens of billions of dollars in market value – and Apple is to blame for much of it. Here is why, and what investors could do next.</p>\n<p>After a day of closely following the markets, it is time to wait for the closing bell, sit back and enjoy the rest of a relaxing evening, right? Well, not so fast.</p>\n<p>On October 21, after the end of the trading session, social media company Snap&nbsp;rocked the markets. It delivered a Q3 revenue miss thatsentshares tumbling hard: -30% in after hour trading, at one point. The sudden loss of about $35 billion in market cap can be largely blamed on Apple&nbsp;and its iPhone privacy policy changes.</p>\n<p>Today, the Apple Maven explains how the Cupertino company caused shares of Snap and those of its social media peers to tank in the evening. Even the tech-rich Nasdaq index dipped 0.7% in after-hours trading, instantly erasing an estimated $120 billion in market value.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7ed8a6ea4a33d29dfca51bc0ce06a85b\" tg-width=\"1240\" tg-height=\"827\" width=\"100%\" height=\"auto\"><span>Figure 1: Apple's new iPhone 13 model.</span></p>\n<p><b>What happened</b></p>\n<p>Snap’s Q3 results were not disastrous, at first glance. The revenue miss of $30 million (or four percentage points’ worth of top-line growth) was noticeable, but arguably not enough to make nearly one-third of the market value of Snap’s equity vanish in a snap of the fingers (pun intended). On earnings per share, Snap even topped Wall Street’s expectations by 9 cents.</p>\n<p>The problem is that the revenue disappointment brought to light a sore subject in the internet and social media sectors. Earlier this year, Apple&nbsp;updated&nbsp;its iOS policies, giving device users the ability to opt out of activity tracking by third-party apps. The move was widely expected to hurt those whose business models rely on serving targeted ads – i.e. most social media and other internet companies.</p>\n<p>The fears were largely confirmed on Thursday, following Snap’s Q3 print. CEO Evan Spiegel&nbsp;explained:</p>\n<blockquote>\n “We missed the lower end of our guidance […] due to a few key factors, including changes to advertising tracking on iOS. […] While we anticipated some degree of business disruption, the new Apple-provided measurement solution did not scale as we had expected, making it more difficult for our advertising partners to measure and manage their ad campaigns for iOS.”\n</blockquote>\n<p>The after-hours bloodbath was not limited to Snap stock. Facebook, a near-trillion-dollar stock, also sank by as much as 8% instantly, before recovering about one-third of the losses within the hour. Alphabet, valued at almost $2 trillion, dipped nearly 3%. Twitter, a much smaller company by market cap, shed around $2 billion in value.</p>\n<p>The contagion across the social media space can be explained by the fact that Snap was the first major internet company to report earnings this season. In the face of bad news, fearful investors were caught asking themselves: how bad will Facebook’s, Twitter’s and Alphabet’s number be, next week?</p>\n<p><b>What to do</b></p>\n<p>There is a chance, some may argue a meaningful one, that the after-hours selloff in internet stocks will prove to be overdone. Therefore, bargain hunters might want to take advantage of widespread panic to buy the dip. In this case, I would probably be more comfortable betting on the established players with a more diversified user base and better infrastructure to handle the challenges posed by iOS.</p>\n<p>But ultimately, this Thursday’s events help to reinforce one idea. Because of its condition as a gatekeeper of sorts, since it provides the hardware needed to access a plethora of tech services, Apple seems to be in the utmost position of power. This may explain why, as SNAP crumbled in after hours, Apple stock&nbsp;headed higher instead by about 0.3%.</p>\n<p>Within the tech sector, and in part for the reasons above, I continue to find AAPL one of the best names to own at current levels.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Crushes Social Media Stocks: What To Do Next</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Crushes Social Media Stocks: What To Do Next\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-25 08:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/apple/news/apple-crushes-social-media-stocks-what-to-do-next><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Snap stock crumbled on Friday, shedding tens of billions of dollars in market value – and Apple is to blame for much of it. Here is why, and what investors could do next.\nAfter a day of closely ...</p>\n\n<a href=\"https://www.thestreet.com/apple/news/apple-crushes-social-media-stocks-what-to-do-next\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SNAP":"Snap Inc","AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/news/apple-crushes-social-media-stocks-what-to-do-next","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138536137","content_text":"Snap stock crumbled on Friday, shedding tens of billions of dollars in market value – and Apple is to blame for much of it. Here is why, and what investors could do next.\nAfter a day of closely following the markets, it is time to wait for the closing bell, sit back and enjoy the rest of a relaxing evening, right? Well, not so fast.\nOn October 21, after the end of the trading session, social media company Snap rocked the markets. It delivered a Q3 revenue miss thatsentshares tumbling hard: -30% in after hour trading, at one point. The sudden loss of about $35 billion in market cap can be largely blamed on Apple and its iPhone privacy policy changes.\nToday, the Apple Maven explains how the Cupertino company caused shares of Snap and those of its social media peers to tank in the evening. Even the tech-rich Nasdaq index dipped 0.7% in after-hours trading, instantly erasing an estimated $120 billion in market value.\nFigure 1: Apple's new iPhone 13 model.\nWhat happened\nSnap’s Q3 results were not disastrous, at first glance. The revenue miss of $30 million (or four percentage points’ worth of top-line growth) was noticeable, but arguably not enough to make nearly one-third of the market value of Snap’s equity vanish in a snap of the fingers (pun intended). On earnings per share, Snap even topped Wall Street’s expectations by 9 cents.\nThe problem is that the revenue disappointment brought to light a sore subject in the internet and social media sectors. Earlier this year, Apple updated its iOS policies, giving device users the ability to opt out of activity tracking by third-party apps. The move was widely expected to hurt those whose business models rely on serving targeted ads – i.e. most social media and other internet companies.\nThe fears were largely confirmed on Thursday, following Snap’s Q3 print. CEO Evan Spiegel explained:\n\n “We missed the lower end of our guidance […] due to a few key factors, including changes to advertising tracking on iOS. […] While we anticipated some degree of business disruption, the new Apple-provided measurement solution did not scale as we had expected, making it more difficult for our advertising partners to measure and manage their ad campaigns for iOS.”\n\nThe after-hours bloodbath was not limited to Snap stock. Facebook, a near-trillion-dollar stock, also sank by as much as 8% instantly, before recovering about one-third of the losses within the hour. Alphabet, valued at almost $2 trillion, dipped nearly 3%. Twitter, a much smaller company by market cap, shed around $2 billion in value.\nThe contagion across the social media space can be explained by the fact that Snap was the first major internet company to report earnings this season. In the face of bad news, fearful investors were caught asking themselves: how bad will Facebook’s, Twitter’s and Alphabet’s number be, next week?\nWhat to do\nThere is a chance, some may argue a meaningful one, that the after-hours selloff in internet stocks will prove to be overdone. Therefore, bargain hunters might want to take advantage of widespread panic to buy the dip. In this case, I would probably be more comfortable betting on the established players with a more diversified user base and better infrastructure to handle the challenges posed by iOS.\nBut ultimately, this Thursday’s events help to reinforce one idea. Because of its condition as a gatekeeper of sorts, since it provides the hardware needed to access a plethora of tech services, Apple seems to be in the utmost position of power. This may explain why, as SNAP crumbled in after hours, Apple stock headed higher instead by about 0.3%.\nWithin the tech sector, and in part for the reasons above, I continue to find AAPL one of the best names to own at current levels.","news_type":1},"isVote":1,"tweetType":1,"viewCount":493,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":865125573,"gmtCreate":1632962421342,"gmtModify":1632962423647,"author":{"id":"3577165274965013","authorId":"3577165274965013","name":"RajBengal","avatar":"https://static.tigerbbs.com/5717bdd287c00be07fb5e4db5198793e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Crunch time is the best time to extract your pound of flesh.","listText":"Crunch time is the best time to extract your pound of flesh.","text":"Crunch time is the best time to extract your pound of flesh.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/865125573","repostId":"1105224384","repostType":4,"repost":{"id":"1105224384","pubTimestamp":1632961409,"share":"https://www.laohu8.com/m/news/1105224384?lang=&edition=full","pubTime":"2021-09-30 08:23","market":"us","language":"en","title":"Infrastructure Bill in Peril as Democrats Strain to Unite Party","url":"https://stock-news.laohu8.com/highlight/detail?id=1105224384","media":"The Wall Street Journal","summary":"Party leaders meanwhile work to bridge gaps between moderates, progressives on $3.5 trillion bill on","content":"<blockquote>\n <b>Party leaders meanwhile work to bridge gaps between moderates, progressives on $3.5 trillion bill on social policy and climate; Biden’s agenda under threat.</b>\n</blockquote>\n<p>WASHINGTON—Democrats hurtled toward a deadline for passing a roughly$1 trillion infrastructure planin the House, with the bill’s fate in jeopardy as they struggled to mend intraparty rifts threatening to derail President Biden’s domestic agenda.</p>\n<p>Party leaders are racing to unify Democrats around changes to a separate $3.5 trillion healthcare, education and climate package, which progressives want to see advance as a condition of supporting the infrastructure bill in the narrowly divided House. SpeakerNancy Pelosi(D., Calif.) so far has stuck to her plan to bring the infrastructure bill up for a vote Thursday, saying she was taking it “one hour at a time,” though she opened the door to further delay if talks don’t progress.</p>\n<p>“We’re obviously at a precarious and important time in these discussions,” White House press secretary Jen Psaki said. “Members of Congress are not wallflowers. They have a range of viewpoints. We listen, we engage, we negotiate.”</p>\n<p>The Thursday deadline for the infrastructure vote is one of several scheduling crunches Democrats face in the coming days. They are also rushing to pass a stand-alone measure extending government funding, currently set to expire on Friday at 12:01 a.m., through Dec. 3. Republicans and Democrats in the Senate were nearing an agreement to pass the spending patch Thursday before sending it to the House.</p>\n<p>On the eve of the possible infrastructure vote, Mr. Biden met Wednesday evening at the White House with Mrs. Pelosi and Senate Majority Leader Chuck Schumer (D., N.Y.). Mr. Biden also has held a series of meetings with moderate Democrats in recent days in a bid to lock down their support for the social-policy and climate bill. That, in turn, could mollify progressives’ fears that moderates would block that legislation.</p>\n<p>Those efforts so far have fallen short: Critical centrist Sen. Joe Manchin (D., W. Va.) said Wednesday that he didn’t think he could reach an agreement with the White House soon. Democrats need all 50 senators in their caucus to remain united to pass the $3.5 trillion package through a process called reconciliation, which requires just a simple majority rather than the 60 usually needed to advance in the chamber.</p>\n<p>Mr. Manchin repeated his concerns about additional spending fueling inflation and called for the bill’s measures to be means-tested. He didn’t outline a possible compromise with other Democrats.</p>\n<p>“While I am hopeful that common ground can be found that would result in another historic investment in our nation, I cannot—and will not—support trillions in spending or an all or nothing approach that ignores the brutal fiscal reality our nation faces,” he said in a lengthy statement.</p>\n<p>Mr. Manchin’s statement sparked outrage among liberal House Democrats, who said it had expanded the ranks of lawmakers willing to oppose the infrastructure bill, if a vote is held Thursday. Progressives see threatening to oppose the infrastructure bill in the House as a way to pressure moderate Democrats, particularly Mr. Manchin and Sen. Kyrsten Sinema (D., Ariz.), to agree to the contours of the education, healthcare and climate package.</p>\n<p>“This is why we’re not voting for that bipartisan bill until we get agreement on the reconciliation bill and it’s clear we’ve got a ways to go,” said Congressional Progressive Caucus Chairwoman Rep. Pramila Jayapal (D., Wash.).</p>\n<p>In comments later Wednesday, Mr. Manchin said he wanted to overhaul the 2017 tax law and continue the expanded child tax credit.</p>\n<p>The White House has met repeatedly in recent days with Mr. Manchin and Ms. Sinema. Each has voiced opposition to a bill costing $3.5 trillion. Neither of the two lawmakers, though, have publicly indicated what size bill they would support.</p>\n<p>Mrs. Pelosi after initially tying the two bills together, reversed course earlier this week and said that the infrastructure bill would come to the floor Thursday independent of the status of the other legislation. But she changed tack again Wednesday, appearing to condition consideration of the infrastructure bill on an agreement on the social-policy and climate effort.</p>\n<p>“I think if we come to a place where we have agreement in legislative language, not just principle, in legislative language, that the president supports, it has to meet his standard, because that’s what we are supporting, and then I think we will come together,” Mrs. Pelosi told reporters Wednesday, referencing the $3.5 trillion proposal.</p>\n<p>She held out the possibility of the House delaying a vote on the infrastructure bill for the second time. She previously had reached an agreement with moderate House Democrats to hold a vote on the infrastructure bill this past Monday.</p>\n<p>“We take it one step at a time,” she said.</p>\n<p>The possibility that the bill might not pass Thursday frustrated some centrists who had secured the initial promise from Mrs. Pelosi of a vote this week.</p>\n<p>“If the vote were to fail tomorrow or be delayed there would be a significant breach in trust that would slow the momentum in moving forward in delivering the Biden agenda,” said Rep. Stephanie Murphy (D., Fla.), a co-chairwoman of the centrist Blue Dog Coalition.</p>\n<p>Failing to pass the infrastructure bill, which reauthorizes the federal transportation programs, before Friday at 12:01 a.m. would put several thousand federal employees on furlough, according to the Transportation Department. Lawmakers are discussing a short-term extension of surface-transportation authorization in the event that the infrastructure bill doesn’t pass Thursday, according to Sen. Shelley Moore Capito (R., W.Va.).</p>\n<p>In addition to the fracas over Mr. Biden’s policy agenda among Democrats, Republicans and Democrats are locked in astalemate over raising the country’s borrowing limit. Treasury Secretary Janet Yellen told lawmakers Tuesday that the U.S.would be unable to pay its billsstarting Oct. 18 unless Congress acts.</p>\n<p>Republicanshave blocked Democratic attempts to suspend the debt limitin the Senate, protesting the scope of Democrats’ spending ambitions and arguing that Democrats carry the responsibility for authorizing more borrowing.</p>\n<p>Democrats have accused Republicans of creating the risk of a potentially catastrophic default on the debt, offering to pass the measure along party lines if Republicans first allow the process to move forward. Democrats do have the power without GOP votes to raise the debt limit through reconciliation. So far they have resisted going that route, calling reconciliation time-consuming and unnecessary.</p>\n<p>Democrats had originally paired the debt-limit measure and the government-funding patch together, trying to raise pressure on Republicans to support the must-pass measures. Republicans still blocked the bill, which also includes $28.6 billion in emergency disaster aid and $6.3 billion to help resettle Afghan evacuees.</p>\n<p>Separating the debt limit and the government-funding measures will ease passage of the stopgap spending bill in the Senate and likely avoid a shutdown this week, though the two parties will continue to clash over the borrowing limit.</p>\n<p>The House approved a suspension of the debt limit on Wednesday in a 219-212 vote, with two Democrats opposing it and one Republican voting in favor. Mrs. Pelosi said Wednesday that she had no patience for Democrats who wouldn’t back a bill allowing more borrowing.</p>\n<p>“These members have all voted for this last week, so if they’re concerned about how it might be in an ad, it’s already in an ad, it’s already in an ad, so let us give every confidence every step of the way,” she said.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Infrastructure Bill in Peril as Democrats Strain to Unite Party</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInfrastructure Bill in Peril as Democrats Strain to Unite Party\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-30 08:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/democrats-aim-to-keep-government-funded-as-talks-continue-on-3-5-trillion-bill-11632934535?mod=hp_lead_pos1><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Party leaders meanwhile work to bridge gaps between moderates, progressives on $3.5 trillion bill on social policy and climate; Biden’s agenda under threat.\n\nWASHINGTON—Democrats hurtled toward a ...</p>\n\n<a href=\"https://www.wsj.com/articles/democrats-aim-to-keep-government-funded-as-talks-continue-on-3-5-trillion-bill-11632934535?mod=hp_lead_pos1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.wsj.com/articles/democrats-aim-to-keep-government-funded-as-talks-continue-on-3-5-trillion-bill-11632934535?mod=hp_lead_pos1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105224384","content_text":"Party leaders meanwhile work to bridge gaps between moderates, progressives on $3.5 trillion bill on social policy and climate; Biden’s agenda under threat.\n\nWASHINGTON—Democrats hurtled toward a deadline for passing a roughly$1 trillion infrastructure planin the House, with the bill’s fate in jeopardy as they struggled to mend intraparty rifts threatening to derail President Biden’s domestic agenda.\nParty leaders are racing to unify Democrats around changes to a separate $3.5 trillion healthcare, education and climate package, which progressives want to see advance as a condition of supporting the infrastructure bill in the narrowly divided House. SpeakerNancy Pelosi(D., Calif.) so far has stuck to her plan to bring the infrastructure bill up for a vote Thursday, saying she was taking it “one hour at a time,” though she opened the door to further delay if talks don’t progress.\n“We’re obviously at a precarious and important time in these discussions,” White House press secretary Jen Psaki said. “Members of Congress are not wallflowers. They have a range of viewpoints. We listen, we engage, we negotiate.”\nThe Thursday deadline for the infrastructure vote is one of several scheduling crunches Democrats face in the coming days. They are also rushing to pass a stand-alone measure extending government funding, currently set to expire on Friday at 12:01 a.m., through Dec. 3. Republicans and Democrats in the Senate were nearing an agreement to pass the spending patch Thursday before sending it to the House.\nOn the eve of the possible infrastructure vote, Mr. Biden met Wednesday evening at the White House with Mrs. Pelosi and Senate Majority Leader Chuck Schumer (D., N.Y.). Mr. Biden also has held a series of meetings with moderate Democrats in recent days in a bid to lock down their support for the social-policy and climate bill. That, in turn, could mollify progressives’ fears that moderates would block that legislation.\nThose efforts so far have fallen short: Critical centrist Sen. Joe Manchin (D., W. Va.) said Wednesday that he didn’t think he could reach an agreement with the White House soon. Democrats need all 50 senators in their caucus to remain united to pass the $3.5 trillion package through a process called reconciliation, which requires just a simple majority rather than the 60 usually needed to advance in the chamber.\nMr. Manchin repeated his concerns about additional spending fueling inflation and called for the bill’s measures to be means-tested. He didn’t outline a possible compromise with other Democrats.\n“While I am hopeful that common ground can be found that would result in another historic investment in our nation, I cannot—and will not—support trillions in spending or an all or nothing approach that ignores the brutal fiscal reality our nation faces,” he said in a lengthy statement.\nMr. Manchin’s statement sparked outrage among liberal House Democrats, who said it had expanded the ranks of lawmakers willing to oppose the infrastructure bill, if a vote is held Thursday. Progressives see threatening to oppose the infrastructure bill in the House as a way to pressure moderate Democrats, particularly Mr. Manchin and Sen. Kyrsten Sinema (D., Ariz.), to agree to the contours of the education, healthcare and climate package.\n“This is why we’re not voting for that bipartisan bill until we get agreement on the reconciliation bill and it’s clear we’ve got a ways to go,” said Congressional Progressive Caucus Chairwoman Rep. Pramila Jayapal (D., Wash.).\nIn comments later Wednesday, Mr. Manchin said he wanted to overhaul the 2017 tax law and continue the expanded child tax credit.\nThe White House has met repeatedly in recent days with Mr. Manchin and Ms. Sinema. Each has voiced opposition to a bill costing $3.5 trillion. Neither of the two lawmakers, though, have publicly indicated what size bill they would support.\nMrs. Pelosi after initially tying the two bills together, reversed course earlier this week and said that the infrastructure bill would come to the floor Thursday independent of the status of the other legislation. But she changed tack again Wednesday, appearing to condition consideration of the infrastructure bill on an agreement on the social-policy and climate effort.\n“I think if we come to a place where we have agreement in legislative language, not just principle, in legislative language, that the president supports, it has to meet his standard, because that’s what we are supporting, and then I think we will come together,” Mrs. Pelosi told reporters Wednesday, referencing the $3.5 trillion proposal.\nShe held out the possibility of the House delaying a vote on the infrastructure bill for the second time. She previously had reached an agreement with moderate House Democrats to hold a vote on the infrastructure bill this past Monday.\n“We take it one step at a time,” she said.\nThe possibility that the bill might not pass Thursday frustrated some centrists who had secured the initial promise from Mrs. Pelosi of a vote this week.\n“If the vote were to fail tomorrow or be delayed there would be a significant breach in trust that would slow the momentum in moving forward in delivering the Biden agenda,” said Rep. Stephanie Murphy (D., Fla.), a co-chairwoman of the centrist Blue Dog Coalition.\nFailing to pass the infrastructure bill, which reauthorizes the federal transportation programs, before Friday at 12:01 a.m. would put several thousand federal employees on furlough, according to the Transportation Department. Lawmakers are discussing a short-term extension of surface-transportation authorization in the event that the infrastructure bill doesn’t pass Thursday, according to Sen. Shelley Moore Capito (R., W.Va.).\nIn addition to the fracas over Mr. Biden’s policy agenda among Democrats, Republicans and Democrats are locked in astalemate over raising the country’s borrowing limit. Treasury Secretary Janet Yellen told lawmakers Tuesday that the U.S.would be unable to pay its billsstarting Oct. 18 unless Congress acts.\nRepublicanshave blocked Democratic attempts to suspend the debt limitin the Senate, protesting the scope of Democrats’ spending ambitions and arguing that Democrats carry the responsibility for authorizing more borrowing.\nDemocrats have accused Republicans of creating the risk of a potentially catastrophic default on the debt, offering to pass the measure along party lines if Republicans first allow the process to move forward. Democrats do have the power without GOP votes to raise the debt limit through reconciliation. So far they have resisted going that route, calling reconciliation time-consuming and unnecessary.\nDemocrats had originally paired the debt-limit measure and the government-funding patch together, trying to raise pressure on Republicans to support the must-pass measures. Republicans still blocked the bill, which also includes $28.6 billion in emergency disaster aid and $6.3 billion to help resettle Afghan evacuees.\nSeparating the debt limit and the government-funding measures will ease passage of the stopgap spending bill in the Senate and likely avoid a shutdown this week, though the two parties will continue to clash over the borrowing limit.\nThe House approved a suspension of the debt limit on Wednesday in a 219-212 vote, with two Democrats opposing it and one Republican voting in favor. Mrs. Pelosi said Wednesday that she had no patience for Democrats who wouldn’t back a bill allowing more borrowing.\n“These members have all voted for this last week, so if they’re concerned about how it might be in an ad, it’s already in an ad, it’s already in an ad, so let us give every confidence every step of the way,” she said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":421,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"defaultTab":"following","isTTM":false}