«Breaking News» PayPal will offer $25 million in interest-free credit to US federal employees

PayPal said it will offer $25 million in interest-free credit to its users who work with the US federal government and are impacted by the shutdown.

Workers who use PayPal Credit will be able to avail an advance of up to $500 each, without having to pay any interest.

The program will last until the government reopens and employees receive their first paycheck, the company announced on its website. 

Senate Minority Leader Chuck Schumer (left) and Assistant Democratic Leader Patty Murray (right) and Senate democrats carry photographs of furloughed federal workers during a press conference

The partial shutdown, which hit the four-week mark on Friday, is the longest in US history. 

It means 800,000 federal workers nationwide would continue to go unpaid and some government functions would remain impaired.

The shutdown also clouds the outlook for spending, retailers and the economy at large because executives and policymakers due to the direct impact of 800,000 federal workers going without pay.

PayPal said it will take up to three business days to deposit the cash advance into user's accounts from the date the company verifies their employment. 

President Donald Trump and Democrats in Congress remain far apart over Trump's insistence on funding for a wall along the Mexican border as the price of reopening the government.

With the two sides avoiding talks, travel industry analysts and economists have been calculating the potential damage should the shutdown drag into February or beyond.

The cash offer will last until the government reopens and employees receive their first paycheck, PayPal announced on its website 

Airlines and hotels would suffer. So would parks and restaurants that cater to travelers. 

Eventually, the broader U.S. economy, already absorbing a trade war with China and a global economic slowdown, would endure another blow.

The travel and tourism industries generate about $1.6 trillion in U.S. economic activity - one-twelfth of the economy - and one in 20 jobs, according to the Commerce Department. 

Macroeconomic Advisers said  it now expects the economy to expand at just a 1.4 percent annual rate in the first three months of this year, down from its previous forecast of 1.6 percent, because of reduced Government spending during the shutdown.  

America's air-travel system will face its sternest this weekend, which coincides with Martin Luther King Jr. Day on Monday, a federal holiday.

The Transportation Security Administration predicts it will screen over 8 million passengers between Friday and Monday, up 10.8 percent from last year's MLK weekend. And it will do so with fewer screeners. 

On Thursday, the TSA said 6.4 percent of screeners missed work - nearly double the 3.8 percent rate on the same day in 2018.

On top of potentially longer airport security lines this weekend, a blast of winter weather could snarl travel this weekend in the Midwest and Northeast.

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https://hienalouca.com/2019/01/19/paypal-will-offer-25-million-in-interest-free-credit-to-us-federal-employees/
Main photo article PayPal said it will offer $25 million in interest-free credit to its users who work with the US federal government and are impacted by the shutdown.
Workers who use PayPal Credit will be able to avail an advance of up to $500 each, without having to pay any interest.
The program will last until...

It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.

Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

Dianne Reeves US News HienaLouca





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