President Donald Trump has insisted he would sign a standalone bill prior the election for more stimulus checks to be sent to Americans—though time is running out for money to be able to arrive with people before Election Day on November 3.



Donald Trump wearing a suit and tie: U.S. President Donald Trump speaks during a bill signing ceremony for H.R. 748, the CARES Act in the Oval Office of the White House on March 27, 2020. He has said he would sign a standalone bill to grant more Economic Impact Payments.


© Erin Schaff/Pool/Getty Images
U.S. President Donald Trump speaks during a bill signing ceremony for H.R. 748, the CARES Act in the Oval Office of the White House on March 27, 2020. He has said he would sign a standalone bill to grant more Economic Impact Payments.

While Trump called off talks aiming to agree a bipartisan relief package amid the COVID-19 crisis, he has indicated a willingness to enact measures in a piecemeal fashion and has declared his support for a further round of Economic Impact Payments.

Election Day 2020: Where Trump, Biden Stand In The Polls 30 Days Before Nov. 3

UP NEXT

UP NEXT

In regards to signing such a bill, he tweeted: “Move Fast, I Am Waiting To Sign!”

The CARES Act, which was signed more than six months ago, granted eligible individuals $1,200, which was paid via direct deposit, checks or on pre-paid debit cards.

A second round of such payments would likely be processed by the Internal Revenue Service faster than the first round, according to IRS managers, although there would still be a delay in them being approved for distribution.

It has previously been suggested by IRS managers that a second round of payments would be released faster than the first, because relevant systems would already be in place and more people’s details would likely be up to date.

However, though the process could be quicker, there would still be a cut off as to how late payments could be sent in order to arrive before Election Day, Chad

The money, which came in the form of a tax refund, helped Antero maintain its lucrative cash dividend payments to investors despite a year of economic upheaval. At the end of April, Antero chief executive Paul Rady and President Glen C. Warren Jr. announced the tax windfall and assured investors that “we’re in good shape, and we feel good about it.” Days later, the pair sold $114.8 million of Antero stock, according to Securities and Exchange Commission filings. Last month, Rady sold an additional $46.4 million.

Antero Midstream, a $2.5 billion company, is one of at least 133 corporations that received help this year from the little-noticed provision of the Cares Act. By the end of June, the companies reported receiving more than $5 billion in Cares Act refunds, according to the newsletter Tax Notes. And while the bill did not say anything explicit about a fossil fuel bailout, as many as 30 percent of publicly traded oil and gas companies said in corporate filings they planned to use this tax provision, according to researchers at the University of Chicago who reviewed hundreds of filings made between March and May. Oil and gas companies were substantially more likely to use the credit than other companies, the researchers found.

And for many of them, the law turned into a gusher.

Marathon Petroleum expects to cash in an extra $411 million in tax refunds this year. Oil States International will get $41.2 million, and Oklahoma-based oil and gas producer Devon Energy $96 million. Valero, the nation’s largest oil refiner, will rake in $110 million.

“Like countless other businesses across the country, including the energy sector which was has been hit especially hard by COVID-related market impacts, Antero Midstream openly and transparently utilized pro-job tax policies within the CARES Act aimed at sustaining

  • Coatue Management is competing with some of the most powerful venture capital firms in Silicon Valley for a piece of the hottest startups, and is winning.
  • So far in 2020, the hedge fund wrote checks in 14 unicorn startups, or companies that are valued at more than $1 billion. They include Airtable, Rivian Automotive, Chime, and Impossible Foods.
  • In unicorn deals where it participated, Coatue led the round half of the time, according to a Business Insider review of PitchBook data. It indicates that startups see the value of working with the fund.
  • Coatue, run by Philippe Laffont and his brother Thomas Laffont, did not respond to a request for comment.
  • Visit Business Insider’s homepage for more stories.

A hedge fund is flying high over the startup world.

Coatue Management, a type of fund that raises outside capital to invest in a smorgasbord of asset types, has written checks into at least 14 unicorn startups so far this year, including breakouts like Chime, Airtable, and Rivian, according to data from PitchBook and media reports.

Its track record pits the hedge fund against some of the most well-endowed venture capital shops in Silicon Valley, who are all fighting for a stake in the hottest growth-stage startups before they go public or get acquired.

Traditional hedge funds tend to gravitate toward assets like stocks, bonds, currencies, and real estate and to allow investors to cash out periodically. But in recent years, hedge funds like Coatue and Tiger Global grew hot on startup investing because of their potential for large returns, even if those profits take longer to realize than other assets.

The ripple effects of the coronavirus pandemic have accelerated that strategy, Business Insider’s Callum Burroughs writes. The market swings and near-zero interest rates have made traditional investment strategies less appealing.

Coatue

Lawyers applying for a license to practice law in Washington, D.C., say a security lapse by the bar association exposed their application files, including their government-issued IDs and background checks.

Applicants said the District of Columbia Bar, which oversees the admissions and licensing for lawyers practicing in the U.S. capital, was storing the applications in an unprotected directory on its website.

The DC Bar did not respond to multiple emailed requests and a voicemail requesting comment prior to publication.

The security lapse was first disclosed in an August 26 email, obtained by TechCrunch, by an unnamed whistleblower who said they “reported this issue on three separate occasions” to the DC Bar, but that their email was not returned nor was the issue fixed. The email said that documents contained personal information like names, phone numbers, and email addresses, as well as Social Security number, the applicant’s full employment history, previous home addresses, and any disciplinary records.

The whistleblower said they began notifying news outlets “in a good faith effort to notify affected users and ensure the issue is fixed.” TechCrunch obtained the email from a pseudonymous Twitter account that goes by the handle Bar Exam Tracker.

The email said that the security lapse meant that applicants could still access their uploaded application files from the DC Bar website, even after they logged out. But because the application files followed a consistent naming scheme, anyone could access the application files of other applicants by incrementally changing the web address.

“The documents are publicly accessible merely by opening their addresses in a web browser, and are not protected by any authentication system,” the whistleblower’s email wrote.

Word of the security lapse quickly spread among some bar applicants. Two applicants, who agreed to be quoted but asked not to be named for

money-cash-dollars-stimulus-payments-pay-7139

How soon could your second stimulus check come? We lay out some possible dates, from when the bill is passed to when your money could actually arrive.


James Martin/CNET

Now that talks to pass new coronavirus relief legislation with a second stimulus payment have resumed, we can predict when eligible Americans may receive direct payments. If a new stimulus check is authorized, the priority group that you’re a part of and how fast the IRS can start sending out payments in general will determine how long it takes. (Here are some more important stimulus payment facts.)

House Speaker Nancy Pelosi directed House Democrats to bring a new relief proposal that includes another stimulus check and other aid for airlines and restaurants to a vote as early as this week. She has also resumed talks with Treasury Secretary Steven Mnuchin. 

“We’re in a negotiation, and hopefully we’ll come to a bipartisan agreement that will remove all doubt that the legislation will pass and be signed by the President,” Pelosi said on MSNBC Tuesday.

CNET’s stimulus calculator can give you an estimate of how much you might qualify for —  read on to learn some potential timelines for when you might receive a new stimulus payment. We update this story frequently.


Now playing:
Watch this:

Next stimulus checks: What to expect



3:03

When the IRS might possibly send the first checks to each group

When and if another stimulus check happens, Mnuchin has said it would take about a week to orchestrate the first payments. “I can get out 50 million payments really quickly. A lot of it into people’s direct accounts,” he said.

We’ve speculated potential dates based on calendars from the House of Representatives and the Senate, and also based on Pelosi’s vow to keep her chamber in