Terra isn’t dead: the network is back up and running on a new blockchain, focusing on a more decentralized governance model. The community is making no attempts to revive its recently failed TerraUSD (UST) stablecoin. It has, however, re-launched a new version of the LUNA governance token, restarting its supply at 1,000,000,000 tokens. Here are the facts on the new blockchain, why it was launched, and the new token’s airdrop/ distribution. Background on Terra 2.0 Terra 2.0 (now known formally…
Yesterday, U.S. House of Representatives Speaker Nancy Pelosi confirmed a vote on the $1 trillion bipartisan infrastructure bill is set for Thursday. She voiced confidence it would pass. Now the Democrats have more time to reach a consensus on President Biden’s sprawling domestic policy package.
Pelosi noted that there would be four days of debate before the legislation. Discussion on the bill would help fund in repairing aging roads bridges and expand broadband. The infrastructure spending will also pay for the replacement of dangerous lead-piped drinking water systems. Moreover, sewer infrastructure, passenger rail, transit systems, and the airport will have improvements.
Adequate Support System
The speaker said she would not bring a bill to the House floor for consideration except it has adequate support to pass. When questioned about the statement, President Biden also expressed confidence. He stated that it will take the better part of this week.
The Senate passed the infrastructure plan in a vote a few weeks ago. The bill went through using the word “broker” to describe organizations and firms like computer programmers. The list also includes node validators, miners, stakers, wallet providers, and hardware manufacturers. The bill saw 19 Republicans join all 50 representatives of the Democratic caucus.
If it passes with the exact wording, these entities would have to report transactions to the Internal Revenue Service. The U.S. federal agency aims to expand crypto taxation to raise $28 billion in revenue.
$3.5 trillion Proposal for Infrastructure Bill
Pelosi noted that House leaders are also working with the Senate and White House on a separate $3.5 trillion proposal. It entails a social safety net and climate change programs. That measure includes plans to provide universal pre-kindergarten instruction, expanded health care, and childcare funding.
Additionally, the bill will provide funds to combat the effects of climate change. Further, Improvements in immigration law and lowering prescription drug prices will also happen.
However, the larger bill, which advanced in the House Budget Committee on Saturday, faces more opposition. Some Senate Democrats are part of the opposition. They say they will not support that much spending.
Pelosi reassured that the negotiations would lead to a lower price tag. She called such a development “self-evident.”