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Today's Top Stories From the Breitbart News Desk
The House Democrats approved the $1.9 trillion covid spending bill on Wednesday, clearing the last hurdle before the legislation lands on Biden's desk for signing. Perhaps the most extraordinary aspect of the bill is that it survived intact despite the destruction of any rational basis for many of its provisions. For example, the bill sends $350 billion to states and cities despite the fact that widespread fears of state tax revenues suffering severe declines turned out to be wrong. In fact, tax revenue fell just four-tenths of a percentage point, and some states saw huge gains. New York's tax revenue, for instance, fell by less than 2 percent or around $1.5 billion. It is set to take in $23.5 billion from the bill.
On Wall Street today, Roblox went public. Anyone with young children is probably familiar with the gaming platform. It's a sort of online arcade in which youngsters can choose from more than 20 million unique games, many of which allow them to interact with other players. A lot of children play the games while video chatting with their friends who are also playing. Players pay for vehicles, clothing, and even new hairstyles for their avatars using a digital currency called Robux. In other words, kids get to trade their parents' real money for fake video game currency that can be used to buy virtual items. We closed the real stores, and kids flocked to virtual shops. After its debut on Wednesday, the company is valued at about $40 billion.
GameStop had a wild day. Shares jumped at the open, crashed 40 percent midday, and then rose again. By the end of the day, shares were up 7.3 percent to $265 and were headed higher in after-hours trading. Shares were at $124 a week ago.
– Alex Marlow & John Carney Breitbart News Network
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