The Week in Business: Getting Vaccines From Here to There
Payment Declined
Mastercard and Visa will no longer allow their cards to be used on the adult website Pornhub, which has reportedly included videos of child abuse and rape (it also hosts millions of other legal videos portraying consensual sex). Visa said that it would also suspend its network’s payments to MindGeek, Pornhub’s parent company, until it completes an investigation into their business ties. Pornhub said earlier in the week that it had made changes to block nonconsensual content.
What’s Next? (Dec. 13-19)
Dueling Aid Bills
Less than a week after Democrats proposed a $908 billion stimulus package drafted by a bipartisan group of lawmakers, the White House countered with a $916 billion alternative on Tuesday. While the price tags of the two bills aren’t far apart, the similarities mostly end there. One major sticking point: The Trump administration’s proposal does not include federal funding for supplemental unemployment benefits, and offers one-time $600 stimulus checks instead — half the amount that was provided by the CARES Act earlier this year. It’s impossible to say whether Congress will find a middle ground before the end of the year, when current aid provisions like the eviction moratorium and extra jobless payments are set to expire.
The Business of Vaccination
Multiple industries are gearing up to help distribute coronavirus vaccines, but the logistics are thorny. The first vaccine expected to become available, developed by Pfizer and BioNTech, must be stored at frigid temperatures — which will require a lot of cooling systems and fast transportation. Several airlines, including United, Delta and American, have volunteered their empty planes (which are just sitting around these days, thanks to the pandemic’s impact on travel) to deliver doses. And Walmart said it was preparing more than 5,000 of its stores to receive the vaccine by stocking up on freezers and dry ice.
Debating Student Debt
Canceling some federal student loan debt is a cornerstone of President-elect Joseph R. Biden Jr.’s economic policy. But Democratic leaders are now pushing Mr. Biden to forgive up to $50,000 in debt per borrower through executive action once he takes office. That’s a far cry from his initial promise to cancel $10,000 per borrower, through legislation. The difference sets up what could be the first major conflict between Mr. Biden and the more liberal wing of his party.
Article source: https://www.nytimes.com/2020/12/13/business/the-week-in-business-getting-vaccines-from-here-to-there.html