Remy Blaire brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Wednesday, April 3.
Full Video Transcript Below:
REMY BLAIRE: I’m Remy Blaire - reporting from the New York Stock Exchange. This is what we’re watching on TheStreet today.
Investors are reacting to data on the labor market – private employers added more workers than expected in March, underscoring the continued strength of the job market. This comes ahead of the March jobs report due out Friday morning.
In other news - millions of Americans could see their internet bills increase, and the Biden administration says Republicans are to blame. The Affordable Connectivity Program, or ACP, has helped to connect more than 23 million homes to the internet. But funding for the program will run out by the end of April, which would cause those who depend on the ACP to pay hundreds of dollars more a year for internet service.
The White House released a statement about the lack of funding, saying quote “President Biden has been calling on Congress to pass legislation that would extend the benefit through 2024. And we know Democratic members and senators have joined him in that effort. But unfortunately, Republicans in Congress have failed to act.”
The President called on Congress to approve $6 billion in funds to keep the ACP running. A bi-partisan group of House and Senate members then cosponsored a bill that would allow for $7 billion. However, GOP House Speaker Mike Johnson has yet to allow Congress to vote on the legislation.
The ACP currently benefits 59 million low-income Americans, including veterans, students, and seniors.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Remy Blaire with TheStreet.
