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Good afternoon. I would like to provide a few updates about recent developments in Congress and share some important information.
Welcoming the Biden Administration
I welcome the Biden Administration and look forward to working with the President to address COVID-19, economic relief, health care, climate change, and much more.
A prominent House Democrat slammed Robinhood's move to restrict trading on some stocks like Gamestop and endorsed the idea of holding a congressional hearing on the popular trading app's decision.
Rep. Ro Khanna, a leading member of the Congressional Progressive Caucus, said there was "visceral anger" at hedge funds for their role propelling economic inequality in the United States.
"Everyone on Robinhood should have equal access for trading," Khanna said in an interview with Insider. "They can't just shut down trading for retail investors and not hedge funds."
Progressive Congressman Ro Khanna on Wednesday cautioned President Joe Biden and the Democratic leadership against further restricting eligibility for any future round of direct coronavirus relief payments, warning that excluding many struggling middle-class Americans from checks would be misguided and politically disastrous.
Washington, DC – Today, Rep. Ro Khanna (D-Silicon Valley), three-term member of the House Armed Services Committee and Congressional Progressive Caucus Deputy Whip, delivered a floor speech ahead of the House vote to confirm retired Army General Lloyd Austin as the next Secretary of Defense.
Full speech can be found here, excerpts below.
Washington, DC – Today, Congressional Progressive Caucus Deputy Whip Rep. Ro Khanna (CA-17) joined Chair Pramila Jayapal (WA-07), Chair Emeritus Mark Pocan, (WI-02) Peace & Security Task Force Chair Barbara Lee (CA-13) in releasing the following statement on the Trump Administration's decision to designate the Houthis as a Foreign Terrorist Organization:
Rep. Ro Khanna (D-Calif.) laid out a few specific policies he and some of Congress' other leading progressives are likely to demand when the next U.S. Congress begins its term.
The big picture: Khanna wants Congress to deliver more direct aid to Americans in the form of $2,000 monthly checks and to provide $1 trillion over 10 years in loans and grants to small businesses but is also taking aim at the Fed, arguing that the central bank has gone astray of its original intent to help small businesses and community banks.
Rep. Ro Khanna, a Democrat representing California's Silicon Valley in the U.S. House of Representatives, said he doesn't think impeachment proceedings against President Donald Trump will interfere with Democrats' economic agenda once President-elect Biden takes office.
"Having accountability, I think, will help this country actually heal. And then we have the rest of the time to pursue President Biden's agenda," Khanna said in an interview with "Marketplace Morning Report" host David Brancaccio.
Rep. Ro Khanna (D-Calif.) said during an Axios virtual event that the Federal Reserve Board needs to be able to give loans in rural and minority communities, which have been some of the most affected during the coronavirus pandemic.
Why it matters: People in rural and minority communities have been disproportionally impacted by the coronavirus.