This article was published more than 5 years agoCommentGift SharePresident Trump on Thursday imposed tariffs on imported steel and aluminum but offered relief to some U.S. allies, as the president bucked his party allies to pursue his long-held goal of rewriting what he views as rigged rules of international trade.The tariffs, set to take effect in 15 days, mark Trump’s broadest step yet to favor U.S. industries over their foreign competitors, but they stop short of his earlier plan to impose sweeping tariffs that would have hit U.S. allies and rivals alike. The tariffs contain an...…This article was published more than 5 years agoCommentGift SharePresident Trump on Thursday imposed tariffs on imported steel and aluminum but offered relief to some U.S. allies, as the president bucked his party allies to pursue his long-held goal of rewriting what he views as rigged rules of international trade.The tariffs, set to take effect in 15 days, mark Trump’s broadest step yet to favor U.S. industries over their foreign competitors, but they stop short of his earlier plan to impose sweeping tariffs that would have hit U.S. allies and rivals alike. The tariffs contain an...WW…

This article was published more than 2 years agoCommentGift ShareHouse Speaker Nancy Pelosi abruptly shifted course Thursday and moved to assemble a new coronavirus relief bill to form the basis for renewed talks with the White House, amid mounting pressure from moderates in her caucus and increasingly alarming economic news.The new legislation would be significantly narrower in scope than the $3.4 trillion the House passed in May. Pelosi (D-Calif.) has more recently focused on an additional $2.2 trillion in aid — a figure Republicans say is still too high. But in a meeting with House...…This article was published more than 2 years agoCommentGift ShareHouse Speaker Nancy Pelosi abruptly shifted course Thursday and moved to assemble a new coronavirus relief bill to form the basis for renewed talks with the White House, amid mounting pressure from moderates in her caucus and increasingly alarming economic news.The new legislation would be significantly narrower in scope than the $3.4 trillion the House passed in May. Pelosi (D-Calif.) has more recently focused on an additional $2.2 trillion in aid — a figure Republicans say is still too high. But in a meeting with House...WW…

This article was published more than 2 years agoCommentGift ShareAn emergency disaster lending program for small businesses has been so overwhelmed by demand that it has significantly limited the size of loans it issues, while blocking nearly all new applications from small businesses, according to people familiar with the situation.The Economic Injury Disaster Loan program is a long-standing Small Business Administration program that’s separate from the new Paycheck Protection Program, which has challenges of its own.Congress gave the disaster loan program more than $50 billion in new...…This article was published more than 2 years agoCommentGift ShareAn emergency disaster lending program for small businesses has been so overwhelmed by demand that it has significantly limited the size of loans it issues, while blocking nearly all new applications from small businesses, according to people familiar with the situation.The Economic Injury Disaster Loan program is a long-standing Small Business Administration program that’s separate from the new Paycheck Protection Program, which has challenges of its own.Congress gave the disaster loan program more than $50 billion in new...WW…

This article was published more than 2 years agoCommentGift ShareThe Trump administration is trying to block billions of dollars for states to conduct testing and contact tracing in the upcoming coronavirus relief bill, people involved in the talks said Saturday.The administration is also trying to block billions of dollars that GOP senators want to allocate for the Centers for Disease Control and Prevention, and billions more for the Pentagon and State Department to address the pandemic at home and abroad, the people said.The administration’s posture has angered some GOP senators, the...…This article was published more than 2 years agoCommentGift ShareThe Trump administration is trying to block billions of dollars for states to conduct testing and contact tracing in the upcoming coronavirus relief bill, people involved in the talks said Saturday.The administration is also trying to block billions of dollars that GOP senators want to allocate for the Centers for Disease Control and Prevention, and billions more for the Pentagon and State Department to address the pandemic at home and abroad, the people said.The administration’s posture has angered some GOP senators, the...WW…

This article was published more than 2 years agoCommentGift ShareFederal Reserve Chair Jerome H. Powell gave a dire warning Wednesday that the U.S. economy could become stuck in a painful multiyear recession if Congress and the White House do not authorize more aid to address the coronavirus pandemic’s economic fallout.“Additional fiscal support could be costly but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery,” Powell said in a with the Peterson Institute for International Economics.Powell’s statement was a sharp departure from the...…This article was published more than 2 years agoCommentGift ShareFederal Reserve Chair Jerome H. Powell gave a dire warning Wednesday that the U.S. economy could become stuck in a painful multiyear recession if Congress and the White House do not authorize more aid to address the coronavirus pandemic’s economic fallout.“Additional fiscal support could be costly but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery,” Powell said in a with the Peterson Institute for International Economics.Powell’s statement was a sharp departure from the...WW…

This article was published more than 2 years agoCommentGift ShareThe White House is blocking Anthony S. Fauci from testifying before a House subcommittee investigating the coronavirus outbreak and response, arguing that it would be “counterproductive” for him to appear next week while in the midst of participating in the government’s response to the pandemic.The White House issued a statement about Fauci’s testimony shortly after The Washington Post published a story Friday afternoon quoting a spokesman for the House Appropriations Committee, who said the White House was refusing to...…This article was published more than 2 years agoCommentGift ShareThe White House is blocking Anthony S. Fauci from testifying before a House subcommittee investigating the coronavirus outbreak and response, arguing that it would be “counterproductive” for him to appear next week while in the midst of participating in the government’s response to the pandemic.The White House issued a statement about Fauci’s testimony shortly after The Washington Post published a story Friday afternoon quoting a spokesman for the House Appropriations Committee, who said the White House was refusing to...WW…

This article was published more than 2 years agoCommentGift ShareWith days to go before enhanced jobless benefits expire, the White House and Senate Republicans are struggling to design a way to scale back the program without overwhelming state unemployment agencies and imperiling aid to more than 20 million Americans.The hang-up has led to an abrupt in the introduction of the GOP’s $1 trillion stimulus package. The White House and Democrats have said they want a deal by the end of the month, but Senate Majority Leader Mitch McConnell (R-Ky.) suggested Friday that reaching an agreement...…This article was published more than 2 years agoCommentGift ShareWith days to go before enhanced jobless benefits expire, the White House and Senate Republicans are struggling to design a way to scale back the program without overwhelming state unemployment agencies and imperiling aid to more than 20 million Americans.The hang-up has led to an abrupt in the introduction of the GOP’s $1 trillion stimulus package. The White House and Democrats have said they want a deal by the end of the month, but Senate Majority Leader Mitch McConnell (R-Ky.) suggested Friday that reaching an agreement...WW…

This article was published more than 2 years agoCommentGift ShareAn emergency loan program intended to get money swiftly into the hands of small businesses has all but collapsed under an unprecedented crush of applications and a shortage of funds, overwhelming agency officials and prompting urgent calls for action on Capitol Hill.The Economic Injury Disaster Loan program, or EIDL, a long-standing program run by the Small Business Administration (SBA), is separate from the $349 billion Paycheck Protection Program for small businesses that is the subject of a on Capitol Hill.The federal...…This article was published more than 2 years agoCommentGift ShareAn emergency loan program intended to get money swiftly into the hands of small businesses has all but collapsed under an unprecedented crush of applications and a shortage of funds, overwhelming agency officials and prompting urgent calls for action on Capitol Hill.The Economic Injury Disaster Loan program, or EIDL, a long-standing program run by the Small Business Administration (SBA), is separate from the $349 billion Paycheck Protection Program for small businesses that is the subject of a on Capitol Hill.The federal...WW…

This article was published more than 2 years agoCommentGift ShareA new lending program for small businesses maxed out Thursday morning and stopped accepting claims, but negotiations picked up between Democrats and the Trump administration to address that growing problem as the nation plunged into unemployment levels .The Small Business Administration said on its website that the agency “is unable to accept new applications … based on available appropriations funding.”The $350 billion Paycheck Protection Program was a central piece of the massive $2 trillion economic rescue law passed...…This article was published more than 2 years agoCommentGift ShareA new lending program for small businesses maxed out Thursday morning and stopped accepting claims, but negotiations picked up between Democrats and the Trump administration to address that growing problem as the nation plunged into unemployment levels .The Small Business Administration said on its website that the agency “is unable to accept new applications … based on available appropriations funding.”The $350 billion Paycheck Protection Program was a central piece of the massive $2 trillion economic rescue law passed...WW…

This article was published more than 3 years agoCommentGift ShareHouse Democrats plan to vote Thursday on a wide-ranging coronavirus relief package that will include expanded unemployment insurance, paid sick leave and food security assistance, as lawmakers and the Trump administration seek to move rapidly to address the unfolding crisis.Outlines of the plan were shared Wednesday evening with Trump administration officials, although chances of reaching a bipartisan deal ahead of the vote appeared slim. The legislation includes free coronavirus testing, up to three months of emergency...…This article was published more than 3 years agoCommentGift ShareHouse Democrats plan to vote Thursday on a wide-ranging coronavirus relief package that will include expanded unemployment insurance, paid sick leave and food security assistance, as lawmakers and the Trump administration seek to move rapidly to address the unfolding crisis.Outlines of the plan were shared Wednesday evening with Trump administration officials, although chances of reaching a bipartisan deal ahead of the vote appeared slim. The legislation includes free coronavirus testing, up to three months of emergency...WW…