Fidelity Investment, one of the largest financial management companies in the United States with over $8.3 trillion of assets under administration, will allow their investors to fund their 401(k) with Bitcoin.
On August 10th, 2021, with 68 yes votes vs. 29 no votes, the United States Senate passed the INVEST in America Act (H.R. 3684), a $1 trillion infrastructure revamp that has been a signature component of President Biden’s economic agenda. The bill constitutes a significant victory for the Biden Administration and received bipartisan support in its passing by the Senate.
More than half of the funds will go specifically to improvements in transportation, broadband telecommunications infrastructure, and public utilities. The bill also includes funding designated to combat climate change in the form of “publicly accessible electric vehicle charging infrastructure, hydrogen fueling infrastructure, propane fueling infrastructure, and natural gas fueling infrastructure[.]” Specifically, the bill approves spending on the following:
Despite already having passed the House, the bill must return to the House to be reconciled with the Senate’s version before it can be sent for President Biden’s signature. This is not expected to occur until September 20th, but it is expected to pass the House again and then proceed to the President’s desk to be signed into law.
The full bill can be read here. For more information, please contact the Burton Law Firm or your local congressperson.