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The Reserve Bank on Thursday issued an <keyword id="21041007" type="General" weightage="20" keywordseo="omnibus-framework" source="Orion">omnibus framework</keyword> for recognising <keyword id="4570931" type="General" weightage="20" keywordseo="self-regulatory-organisations" source="Orion">Self-Regulatory Organisations</keyword> (SROs) for its <keyword id="9823456" type="General" weightage="20" keywordseo="regulated-entities" source="Orion">regulated entities</keyword>, under which SROs would be required to establish minimum benchmarks for their members. The <keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword> said SROs enhance the effectiveness of regulations by drawing upon the technical expertise of practitioners and also aid in framing/ fine-tuning regulatory policies by providing inputs on technical and practical aspects. With the growth of regulated entities (REs) in terms of number as well as scale of operations, increase in adoption of innovative technologies and enhanced customer outreach, the RBI had felt the need to develop better industry standards for self-regulation. The framework said, SROs will be expected to operate with credibility, objectivity and responsibility under the oversight of the regulator, with the objective to improve regulatory compliance. In general, SROs are expected to adhere to a set of overarching objectives for betterment of the sector they represent, foster advancement and address critical industry concerns within the broader financial system, it said. "The primary responsibility of the SRO towards its members would be to promote best business practices. The SRO shall establish minimum benchmarks and conventions for professional market conduct amongst its members," the RBI's framework said. The term 'members' used in the framework refers to the REs which accept the membership of the SRO. The central bank also said a SRO is expected to be an ally of the Reserve Bank in ensuring better compliance with the regulatory guidelines, protection of stakeholder interests, foster innovation and detection of early warning signals. The SROs would be a not-for-profit company registered under Section 8 of the Companies Act, 2013. The membership of SRO shall be voluntary. Existing SROs already recognised by the Reserve Bank would continue to be governed by the terms and conditions under which they were recognised, unless this framework is specifically extended to such SROs.

RBI issues omnibus framework for recognising SROs for regulated entities

<ul class="summary-list"><li>The Senate passed a one-week extension of <keyword id="1430216" type="PERSON" weightage="60" keywordseo="government-funding">government funding</keyword> on Friday, hours ahead of a midnight deadline.</li><li>The House passed it on Wednesday, and now it goes to President <keyword id="6354484" type="PERSON" weightage="60" keywordseo="Donald-Trump">Donald Trump</keyword> for his signature.</li><li>Sens. Bernie Sanders and Josh Hawley threatened to hold up the government-funding bill next week if there is no vote on their plan to distribute a second round of $1,200 <keyword id="9071639" type="UNKNOWN" weightage="60" keywordseo="stimulus-checks">stimulus checks</keyword> to Americans.</li><li>Congress is running up against the expiration at the end of the month of federal rescue programs assisting millions of Americans.</li></ul>The Senate passed a short-term spending bill to avert a government shutdown hours before a midnight deadline on Friday, sending it to President Donald Trump's desk for his signature.The bill was delayed on Thursday because Republican Sen. Rand Paul objected to a measure related to defense spending in a separate piece of legislation. Senate rules allow a single senator to disturb the timing of a vote via "<a href="https://www.senate.gov/reference/glossary_term/unanimous_consent.htm">unanimous consent</a>."The House <a href="https://www.businessinsider.com/stimulus-house-approves-funding-extension-bipartisan-group-working-on-plan-2020-12">approved the one-week extension</a> of government funding on Wednesday. If Trump signs it - which he is expected to do - it would buy Congress another week to pass a new economic rescue package as coronavirus cases climb and the death toll rises.Negotiations are ongoing on a broader omnibus package to fund the government into next year, <a href="https://www.washingtonpost.com/us-policy/2020/12/11/senate-spending-bill-shutdown/">The Washington Post reported</a>. Congressional leaders have said they want to attach a relief package to the large spending package.But bipartisan talks are at risk of collapsing over fierce disagreements on aid to state and local governments and on a liability shield to protect businesses from coronavirus-related lawsuits. House Speaker Nancy Pelosi suggested on Thursday that the talks on a $908 billion economic aid package could stretch past Christmas.Democrats want to provide federal assistance to states, while Republicans are seeking the liability shield. Disagreements on the issues have gummed up the talks for months.Senate Majority Leader <keyword id="192852" type="PERSON" weightage="60" keywordseo="Mitch-McConnell">Mitch McConnell</keyword> on Friday assailed Democrats for seeking the aid, calling it a "slush fund" that would provide money for spending unrelated to the pandemic.On Thursday evening, Sen. Bernie Sanders of Vermont and Republican Sen. Josh Hawley of Missouri teamed up to call for another round of $1,200 stimulus payments, which are omitted in the $908 billion package's framework.They gave back-to-back floor speeches ahead of the government-funding vote on Friday. Sanders and Hawley threatened to hold up a similar extension next week if Congress does not vote on providing a second round of $1,200 stimulus checks for Americans.The pair have emerged as the leading advocates for another round of stimulus checks. Asked by Business Insider whether he had generated more Democratic support for them over the past week, Sanders responded, "I think there is momentum on the part of the American people who understand that Congress simply cannot leave without dealing with the economic crises facing" Americans.If the relief talks in Congress drag on or collapse, it could raise the specter of a financial disaster for millions of people as several federal programs expire at the end of the year. Nearly 12 million Americans are <a href="https://www.businessinsider.com/millions-could-lose-unemployment-aid-by-december-without-coronavirus-stimulus-2020-11">threatened with the loss of all unemployment aid</a> if lawmakers fail to renew certain programs.

The Senate approved a short-term spending bill, averting a government shutdown hours ahead of a midnight deadline

<ul class="summary-list"><li>Sen. Josh Hawley introduced legislation to send another round of $1,200 <keyword id="9071639" type="UNKNOWN" weightage="60" keywordseo="stimulus-checks">stimulus checks</keyword> for Americans modeled after the ones distributed under the CARES Act.</li><li>"Families are struggling. Unemployment claims are rising and food lines are growing. It's time <keyword id="1575" type="ORGANIZATION" weightage="60" keywordseo="Congress">Congress</keyword> finally acts," Hawley said in a press release.</li><li>The latest $908 billion bipartisan stimulus framework omitted them, but relief talks are stalling and may collapse.</li></ul>Republican Sen. Josh Hawley unveiled legislation on Thursday to include a fresh wave of $1,200 stimulus checks in the next economic relief package. But talks are stalling as lawmakers struggle to resolve major differences ahead of a critical government funding deadline.The <a href="https://www.hawley.senate.gov/sites/default/files/2020-12/Emergency-Direct-Payments-for-Families-and-Workers-Act.pdf">plan from the Missouri senator</a> is modeled after the initial wave of direct payments the federal government distributed to tens of millions of Americans through the CARES Act in March."Americans need direct payments now. Families are struggling. Unemployment claims are rising and food lines are growing. It's time Congress finally acts," Hawley said in a press release. "Direct payments should be at the center of any Covid relief legislation that Congress passes."Hawley has emerged as a leading advocate for stimulus checks among Republicans. He has urged President <keyword id="6354484" type="PERSON" weightage="60" keywordseo="Donald-Trump">Donald Trump</keyword> to veto a relief package if it didn't contain the measure, <a href="https://www.politico.com/news/2020/12/07/hawley-trump-veto-covid-bill-443444">Politico reported</a>. Hawley expressed frustration this week that the latest $908 billion relief package from a bipartisan group of senators excluded them to keep its price tag below $1 trillion. The first wave of payments cost roughly $300 billion."I'm continuing to be flummoxed as to why there aren't any direct payments. Everybody supported this in March," he told reporters on Capitol Hill on Monday. "It's the most useful, helpful, and frankly popular aspect."There's also <a href="https://www.businessinsider.com/bernie-sanders-demands-for-the-next-coronavirus-stimulus-checks-2020-12">a growing drive among Democrats</a> to include them, led by Sen. Bernie Sanders. Many economists say the checks aided people who needed extra cash because of a job loss or pandemic-related pay cut.In March, Congress and President Donald Trump authorized $1,200 checks for millions of American taxpayers earning up to $75,000 annually, plus an extra $500 per child. The amount decreased until phasing out for people making above $99,000. Married couples earning up to $150,000 a year also qualified for the full payment.Relief talks in Congress are <a href="https://www.businessinsider.com/coronavirus-relief-talks-perilous-moment-trump-mcconnell-pelosi-2020-12">hanging by a thread</a>. They're at risk of collapse because Republicans and Democrats have proved unable to settle longstanding differences on aid to state and local governments and a liability shield guarding businesses from coronavirus-related lawsuits. Both issues have gummed up stimulus negotiations for months. Read more: <a href="https://www.businessinsider.com/investing-advice-economic-recovery-priced-in-cyclical-stocks-mike-wilson-2020-12" target="_blank" rel="noopener">Morgan Stanley is warning that the stock market's economic recovery trade may soon be over. Here are 4 strategies they recommend for finding the returns that still exist.</a>At a press conference on Thursday, Speaker Nancy Pelosi didn't appear to set a timeline for lawmakers to wrap up negotiations on virus relief and a broader federal spending bill. The House on Wednesday <a href="https://www.businessinsider.com/stimulus-house-approves-funding-extension-bipartisan-group-working-on-plan-2020-12">approved</a> a one-week extension of government funding until Dec. 18, and the Senate is expected to follow suit."If we need more time, then we take more time. But we have to have a bill and we cannot go home without it," Pelosi said, later adding, "We've been here after Christmas, you know."Congressional leaders in both parties say they want to attach a pandemic aid bill to a broader omnibus package that would fund the government into next year.

A GOP senator unveiled plans for a fresh round of $1,200 stimulus checks as relief talks stall ahead of crucial deadline

<ul class="summary-list"><li><keyword id="66537" type="ORGANIZATION" weightage="60" keywordseo="Republicans">Republicans</keyword> and <keyword id="6534156" type="UNKNOWN" weightage="60" keywordseo="Democrats">Democrats</keyword> are nearing a deal on a $900 billion package that could include $600 direct payments for Americans, The Washington Post reported.</li><li>Senate Majority Leader <keyword id="192852" type="PERSON" weightage="60" keywordseo="Mitch-McConnell">Mitch McConnell</keyword> expressed optimism on Tuesday about the negotiations among congressional leaders.</li><li>"We're making significant progress, and I'm optimistic that we're going to be able to complete an understanding sometime soon," McConnell said.</li></ul>Republicans and Democrats were nearing a deal on a $900 billion relief package on Wednesday morning, <a href="https://www.washingtonpost.com/us-policy/2020/12/16/congress-stimulus-checks-relief/">The Washington Post reported</a>. It would be a breakthrough in last-minute negotiations among congressional leaders.Negotiations with House Speaker <keyword id="128640" type="PERSON" weightage="60" keywordseo="Nancy-Pelosi">Nancy Pelosi</keyword>, Senate Minority Leader <keyword id="258734" type="PERSON" weightage="60" keywordseo="Chuck-Schumer">Chuck Schumer</keyword>, Senate Majority Leader Mitch McConnell, and House Minority Leader <keyword id="963658" type="PERSON" weightage="60" keywordseo="Kevin-McCarthy">Kevin McCarthy</keyword> picked up on Tuesday - they met twice in Pelosi's office for several hours.The package could include $600 checks, The Post reported, but is likely to exclude two of the most controversial issues: assistance for state and local governments, and a sweeping liability shield for firms from virus-related lawsuits. The final amount of the checks, however, is still in flux, as well as the parameters on who would qualify to receive a federal payment.Calls in <keyword id="1575" type="ORGANIZATION" weightage="60" keywordseo="Congress">Congress</keyword> to include direct payments in a final rescue package have grown in the past two weeks, since the initial <a href="https://www.businessinsider.com/stimulus-bill-bipartisan-deal-manchin-collins-2020-12" target="_blank" rel="noopener">$908 billion bipartisan framework</a> excluded them. Independent Sen. Bernie Sanders of Vermont and Republican Sen. Josh Hawley of Missouri have threatened to hinder must-pass spending bills if their plan for $1,200 checks is not brought to a vote.Their push coincides with another from a group of progressive House lawmakers who on Tuesday urged congressional leaders in <a href="https://www.businessinsider.com/stimulus-checks-2000-dollar-progressive-democrats-pushing-coronavirus-economic-relief-2020-12">a letter obtained by Business Insider</a> to include $2,000 stimulus checks to provide immediate relief to struggling Americans.Republican Sen. John Thune of South Dakota, the second-ranked member of GOP leadership, suggested to Capitol Hill reporters on Wednesday morning that the direct payments could be $600 or $700 per person though nothing was final. But he said lawmakers were scrambling to approve a final package by midnight Friday, the new deadline for government funding to dry up."I think both sides are sufficiently motivated given the time of the year and everything that's at stake and trying to get virus relief out there," Thune said.McConnell struck an optimistic tone on the negotiations on Tuesday evening. "We're making significant progress, and I'm optimistic that we're going to be able to complete an understanding sometime soon," McConnell told reporters on Capitol Hill.Read more: <a href="https://www.businessinsider.com/mcconnell-stimulus-liability-protection-donors-lobbyists-2020-12" target="_blank" rel="noopener">Mitch McConnell held up a stimulus deal for months over liability protections for businesses. Here are the biggest lobbyists and donors who've influenced his 'hard red line.'</a>Schumer said in a floor speech on Wednesday morning that an agreement on a government rescue package was near."We are close to an agreement. It's not a done deal yet. But we are very close," he said. "For Democrats, this has always been about getting the American people the relief they need."A group of bipartisan lawmakers <a href="https://www.businessinsider.com/stimulus-bill-bipartisan-deal-manchin-collins-2020-12" target="_blank" rel="noopener">attempted to end the logjam</a> over a new federal rescue package by <a href="https://www.businessinsider.com/bipartisan-group-of-lawmakers-congress-stimulus-bills-economic-relief-2020-12" target="_blank" rel="noopener">introducing two separate bills</a> on Monday. One contained $748 billion in funding with provisions that most lawmakers support, and the other included the liability shield and state funding. Those pair of issues has divided both parties.Republican Sen. Mitt Romney of Utah, a leader of the bipartisan group, told Business Insider the $748 billion package would form a blueprint for a final deal on Wednesday afternoon."The leader said today that it will be the spirit of what is put together by the four corners, so I expect you'll see major elements of that in the final package," he said in a brief interview on Capitol Hill, referring to McConnell and the three other congressional leaders.Lawmakers have until late Friday evening to pass spending legislation or many parts of the federal government <a href="https://www.businessinsider.com/government-shutdown-spending-bill-congress-continuing-resolution-2020-12" target="_blank" rel="noopener">will shut down</a>. Congressional leaders aim to merge the pandemic relief plan with an omnibus bill to fund federal agencies into September.

Republicans and Democrats could reportedly add $600 stimulus checks to $900 billion coronavirus-relief proposal

<ul class="summary-list"><li>House Majority Leader <keyword id="215374" type="PERSON" weightage="60" keywordseo="Steny-Hoyer">Steny Hoyer</keyword> announced on Monday that the chamber would vote on a one-week extension of government funding to buy more time for relief negotiations.</li><li>"I am disappointed that we have not yet reached agreement on government funding," Hoyer said.</li><li>McConnell later said that the Senate would take up the short-term spending measure as well.</li><li><keyword id="1575" type="ORGANIZATION" weightage="60" keywordseo="Congress">Congress</keyword> is aiming to attach a <keyword id="8955738" type="UNKNOWN" weightage="60" keywordseo="coronavirus-relief">coronavirus relief</keyword> bill to the must-pass spending package this month.</li></ul>Congress will vote on a one-week extension of government funding to buy more time for negotiators to iron out the details of a coronavirus relief package, congressional leaders said on Monday."I am disappointed that we have not yet reached agreement on government funding," Steny Hoyer, the chamber's No. 2 Democrat, <a href="https://twitter.com/LeaderHoyer/status/1336039123082235907?s=20">tweeted</a>. "The House will vote on Wednesday on a one-week CR to keep government open while negotiations continue."Hoyer said both parties must make some trade-offs as negotiators work on an emergency federal rescue package."We have to come together and have some give and take," Hoyer told reporters on Capitol Hill on Monday, per pool reports. "But not getting a deal done - it's not an option from my perspective."Senate Majority Leader <keyword id="192852" type="PERSON" weightage="60" keywordseo="Mitch-McConnell">Mitch McConnell</keyword> said in a floor speech on Monday that he backed a short-term spending measure as well, but didn't immediately provide a date for a vote.Read more: <a href="https://www.businessinsider.com/government-shutdown-spending-bill-congress-continuing-resolution-2020-12">A government shutdown looms. Here's what's at stake if Congress doesn't reach a deal before midnight December 11 or right after.</a>Approval from both chambers and a signature from President Donald Trump would keep the federal government funded until December 18. Congress then needs to approve another short-term spending package or large-scale omnibus bill by that day or many government agencies would start shutting down.Funding for agencies like the Department of Commerce and the Pentagon must be renewed annually, though other programs absorbing a major chunk of the federal budget like Medicare are on autopilot.<a href="https://www.washingtonpost.com/us-policy/2020/12/07/stimulus-government-funding-congress/">The Washington Post reported on Monday</a> that strong disagreements on numerous policy issues - notably immigration - were holding up negotiations on a <a href="https://www.businessinsider.com/senate-republicans-spending-bills-dems-blast-lack-covid-relief-funds-2020-11">government funding bill</a>. Lawmakers are aiming to attach a coronavirus relief package to the critical spending bill this month.But the newspaper reported that the legislative text for <a href="https://www.businessinsider.com/democrats-just-embraced-a-908-billion-coronavirus-stimulus-plan-2020-12">the $908 billion bipartisan relief-package framework</a> could come on Tuesday at the earliest. It's expected to include $300 weekly <keyword id="414451" type="PERSON" weightage="60" keywordseo="unemployment-benefits">unemployment benefits</keyword>, small-business aid, and assistance for state and local governments, but it's likely to exclude a second wave of $1,200 <keyword id="45304" type="COMPANY" weightage="60" keywordseo="Stimulus">stimulus</keyword> checks.McConnell lambasted Democrats, arguing they were unyielding to a compromise for months. He urged both parties to coalesce around another rescue plan with their shared priorities."Republicans and Democrats do not need to resolve every one of our differences to get badly-needed relief out the door," he said. "We just need both sides to finally do what members of Congress do when they're serious about wanting an outcome: Drop the all-or-nothing tactics, drop the hostage-taking, and make law in the many places where we have common ground."He listed extended <keyword id="156351" type="PERSON" weightage="60" keywordseo="unemployment-insurance">unemployment insurance</keyword>, vaccine-related funding, and new money for the Paycheck Protection Program to aid small businesses as measures that could draw bipartisan support. But the Kentucky Republican did not indicate whether he would endorse the economic aid plan taking shape, which contains those measures. Trump could support the final rescue package depending on its design, his top economic advisor, Larry Kudlow, said on Monday."I believe that it is likely he will, but it depends on some of the policy details inside," Kudlow said at a Washington Post Live event. "I stress it's not the aggregate number so much as it is the specific policies that would be discussed and proposed."Kudlow struck an optimistic tone about the trajectory of relief talks so far. "We are moving in the right direction, I think," he said. "We're getting closer."Read more: <a href="https://www.businessinsider.com/trading-strategy-market-wizard-chris-camillo-shares-secrets-to-millions-2020-12" target="_blank" rel="noopener">Market wizard Chris Camillo grew his trading account by $9.7 million in 2020. Here's the simple strategy he's using to mint millions.</a>

Congress will try to buy more time for stimulus negotiations by voting on a one-week extension of government funding to December 18

<ul class="summary-list"><li>McConnell wanted a promise that Democrats would not eliminate the <keyword id="1585198" type="PERSON" weightage="60" keywordseo="filibuster">filibuster</keyword>.</li><li>Two Democratic Senators signaled their support for keeping the filibuster in place Monday.</li><li>With those assurances, McConnell said he was ready to move forward with an <keyword id="10655776" type="UNKNOWN" weightage="60" keywordseo="organizing-resolution">organizing resolution</keyword>.</li></ul><keyword id="6355284" type="UNKNOWN" weightage="60" keywordseo="senate">Senate</keyword> Minority Leader <keyword id="192852" type="PERSON" weightage="60" keywordseo="Mitch-McConnell">Mitch McConnell</keyword> <a href="https://twitter.com/LeaderMcConnell/status/1353888999522398214">said Monday night</a> that he would move forward with organizing the new Senate after days of a forced stalemate over the filibuster.Before allowing the new Democrat-controlled Senate to begin work, McConnell wanted a promise that Democrats would not eliminate the filibuster.It appears McConnell got his wish. Two Democratic Senators, <a href="https://www.politico.com/news/2021/01/25/joe-manchin-filibuster-462364">Sen. Joe Manchin</a> of West Virginia and <a href="https://www.washingtonpost.com/powerpost/senate-gridlock-threatens-biden-agenda/2021/01/23/6119e512-5cf3-11eb-b8bd-ee36b1cd18bf_story.html">Sen. Kyrsten Sinema</a> of Arizona, both signaled their support Monday for keeping the filibuster in place, effectively eliminating any possibility that Democrats could scrap the procedure.Senate Majority Leader <keyword id="258734" type="PERSON" weightage="60" keywordseo="Chuck-Schumer">Chuck Schumer</keyword> responded to McConnell's statement Monday night, saying he was looking forward to organizing the Senate under Democratic control and starting to get things done for the American people."We're glad Senator McConnell threw in the towel and gave up on his ridiculous demand," <a href="https://twitter.com/jason_donner/status/1353898283631050752">Schumer's spokesperson, Justin Goodman, reportedly said.</a> <h2>A filibuster offers the minority party a chance to block legislative action</h2><a href="https://www.senate.gov/artandhistory/history/common/briefing/Filibuster_Cloture.htm" target="_blank" rel="noopener noreferrer">The filibuster</a> is a prolonged debate commonly used by members of the minority party to prevent measures from being brought to a vote and blocking legislative action. A filibuster can be ended if the Senate reaches cloture, in which 60 out of 100 members agree to end the debate.<a href="https://www.rollcall.com/2016/06/15/the-dos-and-donts-of-a-filibuster/">The rules of filibusters require</a> that a senator must remain standing the entire time they are speaking. They cannot take restroom breaks, can only drink water or milk, and cannot eat anything. If they yield or break these rules, the Senate can move on to the next order of business, ending the filibuster. Senators have been known to bring in guest speakers and props to help their case. Former South Carolina Senator Strom Thurmond filibustered for 24 hours and 18 minutes - <a href="https://www.businessinsider.com/longest-filibuster-in-history-strom-thurmond-rand-paul-2013-3">the longest filibuster in history</a> - against the Civil Rights Act of 1957. Perhaps one of the most well-known filibusters in modern history was that of Texas state Sen. Wendy Davis, who <a href="https://www.businessinsider.com/wendy-davis-abortion-bill-filibuster-texas-state-senate-2013-6">filibustered for 13 hours</a> to prevent a vote on an abortion omnibus bill. In 2013, a Democratic-majority Senate voted to prohibit the use of the filibuster when debating executive branch nominations and federal judicial appointments. In 2017, under Senate Majority Leader Mitch McConnell, the Senate extended that rule to Supreme Court nominations so they could confirm Trump pick Neil Gorsuch to replace Antonin Scalia. The lack of filibuster on Supreme Court nominations became an issue again when the Senate pushed through the confirmation of Amy Coney Barrett in the weeks prior to the 2020 presidential election. The filibuster was <a href="https://www.brookings.edu/policy2020/votervital/what-is-the-senate-filibuster-and-what-would-it-take-to-eliminate-it/">once infrequently used</a>, but in recent political past had become a staple to stall action. In the modern Senate, it has meant that the majority needs a filibuster-proof majority to pass legislation. Members of both parties have called for <a href="https://www.businessinsider.com/reid-says-biden-should-end-senate-filibuster-after-3-weeks-2020-10">filibuster reform</a> in the past few years, citing partisan gridlock, and it became a topic of debate during the<a href="https://www.washingtonpost.com/graphics/politics/policy-2020/voting-changes/eliminate-senate-filibuster/"> 2020 presidential primaries</a>.<h2>McConnell forced a confrontation by refusing to move forward with an organizational resolution for the Senate until Dems promised not to eliminate the filibuster</h2>At the start of each new Congress, the Senate adopts a new <a href="https://www.senate.gov/artandhistory/history/common/generic/Origins_OrganizingResolution.htm">organizing resolution</a>, a structural framework that lists committee ratios, committee memberships, and other agreements between the parties. The resolution is usually a routine matter, approved by a unanimous consent agreement. However, when the Senate has been closely divided, the organizing resolution has sparked disagreement among party leaders.With the narrow majority Democrats now hold in the Senate, a 50-50 tie with Vice President Kamala Harris serving as the tie-breaking vote, Senate leaders found themselves in such a predicament. McConnell forced a confrontation by refusing to move forward with an organizational resolution until Democrats promised not to eliminate the filibuster with their simple majority - a move that is commonly referred to as the <a href="https://www.cbsnews.com/news/nuclear-option-why-trumps-supreme-court-pick-needs-only-51-votes-in-the-senate/">"nuclear option."</a> Schumer refused to acquiesce. Many Democrats wanted to at least retain the possibility of threatening the filibuster in the future, instead of bowing to McConnell's demands now.But Manchin and Sinema's emphatic objections to gutting the filibuster means the "nuclear option" is unlikely, and for now, McConnell seems confident the rule will remain safe. In his statement Monday night, he said he felt assured enough to move forward with the 50-50 power-sharing agreement.<h2>What does this mean moving forward?</h2>With the filibuster safe for now, it's unlikely any sweeping legislation can be passed, as the gridlocked chamber would need all members of the Democratic Caucus plus an additional ten Republicans to do so. Calls for <a href="https://www.washingtonpost.com/outlook/2021/01/21/senate-gridlock-filibuster-reform/">filibuster reform</a> seem to be ramping up, and it's possible that shifting public opinion on the rule may keep the debate alive moving forward. Eradicating the filibuster would significantly change the way the Senate operates. The majority party would gain immeasurable legislative power while the minority party would lose its most powerful tool of obstruction."Democrats used it constantly, as they had every right to," McConnell said on the floor last week. "They were happy to insist on a 60-vote threshold for practically every measure or bill I took up."With the shifting nature of American politics, many lawmakers see the filibuster as too crucial a tool for forcing bipartisan compromise to give it up, even if they hold the majority. But as Biden works to implement his agenda, Democrats will likely <a href="https://www.nytimes.com/2021/01/25/us/senate-filibuster.html?smtyp=cur&amp;smid=tw-nytimesimes">continue to face mounting pressure</a> from advocates and activists to eliminate the filibuster altogether.<h2> </h2>

Filibuster drama explained: McConnell will organize the new Senate now that he's confident Democrats won't gut the filibuster

<ul><li><keyword id="15508" type="COMPANY" weightage="20" keywordseo="YouGov">YouGov</keyword>’s survey reveals TV subscribers are indeed moving online for content after the <keyword id="7319532" type="UNKNOWN" weightage="80" keywordseo="trai-order">TRAI order</keyword> was passed. </li><li>Not only have people increased their digital content viewing time in the past year, some have unsubscribed their DTH connections and moved completely online for content. </li></ul>As the New Tariff Order 2.0 proposed by the Telecom Regulatory Authority of India (TRAI) is likely to come into effect starting March 1, 2020, YouGov ran a survey to understand the impact of the original order on the content consumption habits of Indian consumers. As per the earlier order, users were to choose channels they liked and pay standardised rates for only those. Although this move was meant to enhance the customer’s television viewing experience, people did not seem too happy with its execution. According to the research done by YouGov in 2019, when the order was first passed, half of the 1020 surveyed respondents (49%) indicated their likeliness to spend more time online watching original content as a result of this amendment. One year later, the 2020 research findings show that this is exactly what has happened and people seem to have migrated online for content. Around half of Indian DTH subscribers (48%) said the amount of time they spend watching original online content (on <keyword id="128682" type="COMPANY" weightage="20" keywordseo="Netflix">Netflix</keyword>, Amazon Prime, <keyword id="2739840" type="PERSON" weightage="20" keywordseo="Hotstar">Hotstar</keyword>, etc.) has increased after the implementation of the TRAI tariff order last year. Almost as many (42%) said the same for time spent watching television content digitally. On the contrary, the TRAI guidelines seem to have adversely impacted the business of television and 43% said their TV-viewing time has decreased in the last year. Furthermore, one in six (16%) claimed to have unsubscribed from a DTH connection or network because of the TRAI rule, and one in five (21%) have unsubscribed and moved entirely online for content. <div type="image" title="image003 (9)" msid="74376177" hostid="261"></div>

 Men were more likely than women to disconnect their cable connection (19% vs 13%) while the youngest generation- GenZ, were more likely than the rest to not just unsubscribe but migrate online as well (26%). The New Tariff Order 2.0 is likely to make subscriptions affordable by offering consumers 200 channels with the base slab of INR 130 as opposed to 100 channels offered earlier. The data shows that the majority of respondents (60%) favour the revised order, 14% disapprove of it and 26% have no view in this regard. Support could be due to the fact that people positively perceive this change and more than half (56%) feel it will empower them to choose the channels they like. Although people largely support it, many (36%) feel the new amendment will confuse consumers by giving them too many options to choose from. Following the introduction of the TRAI regulatory framework last year, 40% TV-viewers selected channels individually and paid for each, 37% bought a bundle pack and 23% opted for free-to-air channels with few additions. The ones who bought a bundle pack were more likely to say they paid more than they used to earlier as compared to the ones who selected channels individually or kept all free channels- who instead were more likely to say they paid lesser than before (29% and 30%, respectively). If the new TRAI rule comes into force, most people (38%) are still likely to individually select channels. The proportion of people wanting to buy a bundle pack as well as keep free channels is similar, at 31% each, suggesting that people are equally receptive to each of the offerings. Commenting on this, Deepa Bhatia, General Manager, YouGov India said, “YouGov’s survey last year rightly predicted the likely impact of the new regulation on consumer viewership. The latest findings validate this prediction. The new order is likely to disrupt the business further and hence it is even more important for advertisers to study the changing consumer needs and behaviour and reallocate their media budgets accordingly.” Data collected online by YouGov Omnibus among around 1000 respondents in India between February 17th -24th, 2020 using YouGov’s panel of over 8 million people worldwide. Data is representative of the adult online population in the country.

TRAI tariff order has led to consumers spending more time on Netflix, Amazon Prime Video and Hotstar: YouGov

<div class="image-container display-table float_right"><div><div class="image">APSenate Minority Leader Mitch McConnell and Majority Leader Harry Reid</div></div></div>The Senate on Thursday easily passed the $1 trillion omnibus spending bill, avoiding a repeat federal <keyword id="469382" type="UNKNOWN" weightage="60" keywordseo="government-shutdown">government shutdown</keyword> and keeping the government funded through the end of September.
The Senate passed the bill, 72-26.
The Senate's vote came one day after the House of Representatives easily passed the bill, 359-67. President Barack Obama has indicated that he will sign the bill.
The 1,582-page spending bill is comprised of all 12 individual annual spending bills thrown into one $1.012 trillion omnibus bill.
The bill was a result of a month of work from appropriators and their aides. It builds on last month's <a href="http://www.businessinsider.com/budget-deal-reached-shutdown-2013-12" target="_blank">budget agreement that was brokered by Sen. Patty Murray (D-Wash.) and Rep. Paul Ryan (R-Wis.)</a>. Murray and Ryan chair the Senate and House <keyword id="6358021" type="PERSON" weightage="60" keywordseo="budget">budget</keyword> committees and are the lead negotiators for their parties on the agreement.
The bill found some opposition while moving through <keyword id="1575" type="ORGANIZATION" weightage="60" keywordseo="Congress">Congress</keyword>, namely from House conservatives and outside conservative groups. But even though most lawmakers admitted that the bill wasn't perfect, they were eager to get back to a more regular order.
"I'm pleased that Congress has come together to fill in the details of the framework Chairman Ryan and I agreed on in December and fund the government in a way that invests in families and communities across the country," Murray said in a statement after the vote Thursday. 
"Moving forward I hope we will build on this bipartisan work rather than returning to the economic hostage-taking and artificial crises we saw far too much of last year."

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