Senate Bill to Reverse Net Neutrality Repeal Will Reach Floor Vote
January 08, 2018
Senate bill to reverse net neutrality repeal gains 30th co-sponsor and ensures floor vote; U.S. trade gap rose 3.2% to $50.5 billion in November; Employment growth expected to remain solid, according to Employment Trends Index.
- Senate bill to reverse net neutrality repeal gains 30th co-sponsor and ensures floor vote. A Senate bill that would reverse the Federal Communications Commission’s (FCC) decision to repeal net neutrality will receive a vote on the Senate floor, after receiving its 30th co-sponsor on Monday. Sen. Claire McCaskill (D-Mo.) announced her support for the bill, putting it over the top of a procedural requirement to bypass committee approval. The bill, which is being pushed by Sen. Ed Markey (D-Mass.), would use Congress’s authority under the Congressional Review Act to reverse the FCC’s rollback of its popular net neutrality rules. [The Hill]
Economic Indicators & News
- U.S. trade gap rose 3.2% to $50.5 billion in November. The U.S. trade deficit rose to $50.5 billion in November, the largest imbalance in nearly six years. According to the Commerce Department, November deficit was 3.2 percent higher than October’s $48.9 billion imbalance. U.S. exports of goods and services were up 2.3 percent to an all-time high of $200.2 billion, while imports rose an even faster 2.5 percent to a record $250.7 billion. A rising trade deficit means that the United States is importing more goods and services from other countries than it is exporting them. [ABC News]
- Employment growth expected to remain solid, according to Employment Trends Index. The Conference Board Employment Trends Index (ETI) increased in December from 106.36 (revised) in November to 107.10 in December. The change represents a 5.2 percent gain in the ETI compared to a year ago. December’s increase in the ETI was fueled by positive contributions from six out of the eight components. From the largest positive contributor to the smallest, these were: Percentage of Respondents Who Say They Find “Jobs Hard to Get,” Industrial Production, Real Manufacturing and Trade Sales, Percentage of Firms with Positions Not Able to Fill Right Now, Number of Employees Hired by the Temporary-Help Industry, and Job Openings.[Conference Board]