cnbc--2020-08-05--Rubio warns of surge in small business layoffs if PPP money dries up

Sen. Marco Rubio , R-Fla. , warned on Wednesday that a new wave of small business layoffs could come if Congress does not re-up the funding to the Paycheck Protection Program in its next round of coronavirus relief spending .
`` You are going to begin to see , at some point , small business layoffs again as companies run out of the PPP money , '' Rubio said on CNBC 's `` Squawk Box . ''
`` That 's a real thing , and we are going to see it unfortunately , and then that begins to trickle across @ @ @ @ @ @ @ the real estate sector because they ca n't pay rent , and so forth , '' Rubio said .
`` And so we have to act , we have to do something . ''
Rubio , chairman of the Senate Small Business Committee , spoke as Democrats and the White House continued negotiations over the next Covid-19 stimulus package .
The two sides have said that progress has been slow , and a deal is not expected until next week at the earliest .
The PPP allows small businesses to receive low-interest loans @ @ @ @ @ @ @ are followed , such as using the money primarily on covering payroll .
About $ 130 billion of the $ 650 billion allocated toward the program remains untapped .
An administration official told CNBC on Monday night that Democrats and Republicans have come to an agreement on extending PPP funding , though the exact details remain unclear .
Republicans proposed last week allocating $ 190 billion to the program .
In contrast , a $ 3 trillion proposal unveiled by House Democrats in May did not include any new PPP funding .
Sen. @ @ @ @ @ @ @ Democrat on the Senate 's Small Business Committee , said on Tuesday that he was largely on board with the Republican proposal .
There is evidence that the PPP helped keep the economy from completely collapsing after Covid-19 forced closures of many businesses around the country .
One preliminary study , by researchers at the Massachusetts Institute of Technology and the Federal Reserve , estimates the program saved between 1.4 million to 3.2 million jobs .
Small businesses have warned that they may have to start firing workers if they are unable to @ @ @ @ @ @ @ a survey by the National Federation of Independent Business , approximately one fifth of small business owners expect they may have to terminate workers after using their PPP loan .
Nearly half suspect they will need more financial support in the next year .
On Monday , more than 100 former or current top executives , including Facebook Chief Operations Officer Sheryl Sandberg and Microsoft CEO Satya Nadella , issued a letter to Congress to do more than just `` another round of PPP . ''
The executives called for Congress to pass @ @ @ @ @ @ @ will enable small businesses to transform and sustain themselves through 2020 and well into 2021 . ''
They also argued in favor of legislation proposed by Sens .
Michael Bennet , D-Colo. , and Todd Young , R-Ind.
, that would provide partially forgivable loans to cover six months of expenses for businesses that have been especially hard hit .
Rubio said that he was not opposed to the idea of Bennet and Young 's bill , known as the RESTART act , but that it was too costly and could be cumbersome @ @ @ @ @ @ @ .
`` We have tried to incorporate a version of that bill scaled down , '' Rubio said .

Sen. Marco Rubio, R-Fla., warned on Wednesday that a new wave of small business layoffs could come if Congress does not re-up the funding to the Paycheck Protection Program in its next round of coronavirus relief spending.
"You are going to begin to see, at some point, small business layoffs again as companies run out of the PPP money," Rubio said on CNBC's "Squawk Box."
"That's a real thing, and we are going to see it unfortunately, and then that begins to trickle across the rest of the economy, including the real estate sector because they can't pay rent, and so forth," Rubio said. "And so we have to act, we have to do something."
Rubio, chairman of the Senate Small Business Committee, spoke as Democrats and the White House continued negotiations over the next Covid-19 stimulus package. The two sides have said that progress has been slow, and a deal is not expected until next week at the earliest.
The PPP allows small businesses to receive low-interest loans that are completely forgiven if certain guidelines are followed, such as using the money primarily on covering payroll. About $130 billion of the $650 billion allocated toward the program remains untapped.
An administration official told CNBC on Monday night that Democrats and Republicans have come to an agreement on extending PPP funding, though the exact details remain unclear.
Republicans proposed last week allocating $190 billion to the program. In contrast, a $3 trillion proposal unveiled by House Democrats in May did not include any new PPP funding.
Sen. Ben Cardin, D-Md., the top Democrat on the Small Business Committee, said Tuesday he was largely on board with the Republican proposal.
There is evidence that the PPP helped keep the economy from completely collapsing after Covid-19 forced closures of many businesses around the country.
One preliminary study by researchers at the Massachusetts Institute of Technology and the Federal Reserve estimates the program saved 1.4 million to 3.2 million jobs.
Small businesses have warned that they may have to start firing workers if they are unable to secure more federal funds.
According to a survey by the National Federation of Independent Business, approximately one-fifth of small business owners expect they may have to terminate workers after using their PPP loan. Nearly half suspect they will need more financial support in the next year.
On Monday, more than 100 former or current top executives, including Facebook Chief Operations Officer Sheryl Sandberg and Microsoft CEO Satya Nadella, issued a letter to Congress to do more than just "another round of PPP."
The executives called for Congress to pass legislation creating federally guaranteed loans "that will enable small businesses to transform and sustain themselves through 2020 and well into 2021."
They also argued in favor of legislation proposed by Sens. Michael Bennet, D-Colo., and Todd Young, R-Ind., that would provide partially forgivable loans to cover six months of expenses for businesses that have been especially hard hit.
Rubio said he was not opposed to the idea behind the effort, known as the RESTART act, but that it was too costly and could be cumbersome for the Small Business Administration to administer.
"We have tried to incorporate a version of that bill scaled down," Rubio said.


cnbc--2020-08-05--Op-ed: Joe Biden has a Latino voter problem. Here's how he can fix it

Democratic presidential candidate and former Vice President Joe Biden speaks about his plans to combat racial inequality at a campaign event in Wilmington , Delaware , U.S. , July 28 , 2020 .
Latinos are one of the largest growing demographics in the country , and their support is essential to ensuring a win that can not be challenged or litigated – especially in key battleground states like Arizona , Florida , Nevada , North Carolina , Pennsylvania , and Texas .
However , according to a new survey conducted by the Voter Participation Center in partnership with Voto Latino @ @ @ @ @ @ @ percent of eligible Latino voters say they definitely plan to cast a ballot in 2020 and demonstrate a low enthusiasm about the candidacy of Vice President Joe Biden .
Even though Donald Trump has no viable path to gain majority Latino support as he makes anti-immigration a foundation of his re-election , Biden 's approval among young Latinos is waning .
Today , Biden 's support is down seven points from 67 percent back in February .
By comparison , during this time in 2016 , Hillary Clinton enjoyed 73 percent support among @ @ @ @ @ @ @ .
Most Latinos say they have n't even heard from Joe Biden 's campaign nor the Democratic party .
Just 32 percent of low-propensity Latino voters say the Democrats are doing a good job of outreach while only 27 percent of Latinos ages 18-29 agree .
On the contrary , Latino Republicans report higher levels of connectivity with their party than Democrats , with 53 percent of self-identified Republican respondents saying they were contacted by someone , compared to 43 percent of Democrats .
The split widens among those expressing a specific candidate @ @ @ @ @ @ @ supporters and just 41 percent of Biden backers reporting being contacted by a political party , campaign or organization so far this year .
In the context of a president who targets Latinos and other communities of color , these numbers are alarming .

Democratic presidential candidate and former Vice President Joe Biden speaks about his plans to combat racial inequality at a campaign event in Wilmington, Delaware, U.S., July 28, 2020.
Latinos are one of the largest growing demographics in the country, and their support is essential to ensuring a win that cannot be challenged or litigated – especially in key battleground states like Arizona, Florida, Nevada, North Carolina, Pennsylvania, and Texas.
However, according to a new survey conducted by the Voter Participation Center in partnership with Voto Latino and Latino Decisions, less than 60 percent of eligible Latino voters say they definitely plan to cast a ballot in 2020 and demonstrate a low enthusiasm about the candidacy of Vice President Joe Biden.
Even though Donald Trump has no viable path to gain majority Latino support as he makes anti-immigration a foundation of his re-election, Biden's approval among young Latinos is waning.
Today, Biden's support is down seven points from 67 percent back in February. By comparison, during this time in 2016, Hillary Clinton enjoyed 73 percent support among Latinos.
A big issue is outreach. Most Latinos say they haven't even heard from Joe Biden's campaign nor the Democratic party. Just 32 percent of low-propensity Latino voters say the Democrats are doing a good job of outreach while only 27 percent of Latinos ages 18-29 agree.
On the contrary, Latino Republicans report higher levels of connectivity with their party than Democrats, with 53 percent of self-identified Republican respondents saying they were contacted by someone, compared to 43 percent of Democrats.
The split widens among those expressing a specific candidate preference, with 59 percent of Trump supporters and just 41 percent of Biden backers reporting being contacted by a political party, campaign or organization so far this year.
In the context of a president who targets Latinos and other communities of color, these numbers are alarming.


cnbc--2020-08-05--Missouri voters approve Medicaid expansion

Voters cast their ballots in Missouri 's primary election on August 4 , 2020 at Gambrinus Hall in St Louis , Missouri .
Voters will see a host of changes because of the COVID 19 pandemic including less polling places but bigger locations to help with social distancing .
Voters on Tuesday made Missouri the 38th state to approve expanding Medicaid health care coverage to thousands more low-income adults .
Support for the constitutional amendment means that as many as 250,000 more adults could choose to be covered by government health insurance beginning in July 2021 , according to estimates @ @ @ @ @ @ @ Medicaid expansion is fully and expeditiously implemented so that Missourians are no longer forced to choose between putting food on the table and seeing a doctor , today 's victory will be a true turning point in the history of the Show Me State , '' said A.J .
Bockelman , the pro-Medicaid campaign manager .
The vote on health care , which was paired with Missouri 's primary elections , came as confirmed coronavirus cases have been rising in the state and the economy continues to suffer .
`` I believe the @ @ @ @ @ @ @ but not anytime soon , '' said 62-year-old Jim Roberts , an employee in the Clay County Prosecutor 's office in Liberty who voted to expand Medicaid .
`` Jesus said 'The poor will be with you always , ' but we still need to address the concerns of those who are less fortunate . ''
Concerns about the virus appear to have driven a record number of people to cast absentee ballots in Missouri 's largest jurisdiction of St. Louis County , said county election director Eric Fey .
Election officials said @ @ @ @ @ @ @ larger number of cancellations and no-shows among poll workers in the St. Louis and Kansas City areas , though substitutes were dispatched to fill the gaps .
Voters on Tuesday also picked the Republican and Democratic candidates for Congress , statewide offices and state legislative seats .
Cori Bush , a onetime homeless woman who led protests following a white police officer 's fatal shooting of a Black 18-year-old in Ferguson , ousted longtime Rep. William Lacy Clay in Missouri 's 1st District Democratic primary , ending a political dynasty that has spanned @ @ @ @ @ @ @ Circuit Attorney Kim Gardner , whose job performance has been lauded by some civil rights activists and criticized by President Donald Trump and other leading Republicans , also won a challenge from former homicide prosecutor Mary Pat Carl .
Missouri 's Republican-led Legislature has repeatedly rejected Medicaid expansion proposals over the past decade , prompting supporters to turn to the initiative process .
Idaho , Maine , Nebraska , Oklahoma and Utah have all expanded Medicaid through ballot questions following inaction by state lawmakers , according to the nonpartisan Kaiser Family Foundation .
@ @ @ @ @ @ @ eligibility for Medicaid under the federal law last month .
Missouri 's Medicaid program currently does not cover most adults without children , and its income eligibility threshold for parents is one of the lowest in the nation at about one-fifth of the poverty level .
The ballot proposal will expand eligibility under the terms of the 2010 federal health care law signed by President Barack Obama .
That law provides a higher-than-usual federal funding share for states that expand Medicaid coverage to adults earning up to 138 % of the federal poverty @ @ @ @ @ @ @ individual or $ 30,000 for a family of three .
The office of Democratic Auditor Nicole Galloway , who won the Democratic primary for governor on Tuesday , said the financial impact on the state was not clear .
The office has estimated that expanding Medicaid could cost the state at least $ 200 million or save as much as $ 1 billion annually by 2026 .
Republican opponents cited the potential costs as reason to oppose the ballot initiative .
Bonnie Ciro , 73 , a hairdresser in Liberty , said she @ @ @ @ @ @ @ n't trust politicians to use the money , and she does n't want to pay higher taxes .
`` It 's too much money , '' Ciro said .
`` I think it 's a scam , I do n't trust what they say .
( Politicians ) tell you one thing and then do another thing with these kinds of programs . ''
By proposing a constitutional amendment instead of a new law , Missouri supporters have ensured that lawmakers will be unable to change it without going back to voters .
@ @ @ @ @ @ @ opposes Medicaid expansion and won the Republican primary for a full term , moved the vote on the proposal up from the Nov. 3 general election to Tuesday 's primary .
Parson said the earlier vote would give the state more time to financially prepare for Medicaid expansion , if it passes .
He said his decision was not about politics .
Galloway 's campaign has said Parson switched the day of the vote on Medicaid because fewer people typically vote in August compared to November , possibly giving opponents a better chance @ @ @ @ @ @ @ during the 2016 presidential general election in Missouri was almost three times higher than turnout for that year 's August primary .
Even in 2018 , a record year for turnout during a primary , roughly 1 million more voters turned up at the polls in November compared to August .

Voters cast their ballots in Missouri's primary election on August 4, 2020 at Gambrinus Hall in St Louis, Missouri. Voters will see a host of changes because of the COVID 19 pandemic including less polling places but bigger locations to help with social distancing.
Voters on Tuesday made Missouri the 38th state to approve expanding Medicaid health care coverage to thousands more low-income adults.
Support for the constitutional amendment means that as many as 250,000 more adults could choose to be covered by government health insurance beginning in July 2021, according to estimates from the state auditor.
"As Medicaid expansion is fully and expeditiously implemented so that Missourians are no longer forced to choose between putting food on the table and seeing a doctor, today's victory will be a true turning point in the history of the Show Me State," said A.J. Bockelman, the pro-Medicaid campaign manager.
The vote on health care, which was paired with Missouri's primary elections, came as confirmed coronavirus cases have been rising in the state and the economy continues to suffer.
"I believe the economy is going to bounce back strongly but not anytime soon," said 62-year-old Jim Roberts, an employee in the Clay County Prosecutor's office in Liberty who voted to expand Medicaid. "Jesus said 'The poor will be with you always,' but we still need to address the concerns of those who are less fortunate."
Concerns about the virus appear to have driven a record number of people to cast absentee ballots in Missouri's largest jurisdiction of St. Louis County, said county election director Eric Fey. Election officials said coronavirus concerns also led to a somewhat larger number of cancellations and no-shows among poll workers in the St. Louis and Kansas City areas, though substitutes were dispatched to fill the gaps.
Voters on Tuesday also picked the Republican and Democratic candidates for Congress, statewide offices and state legislative seats.
Cori Bush, a onetime homeless woman who led protests following a white police officer's fatal shooting of a Black 18-year-old in Ferguson, ousted longtime Rep. William Lacy Clay in Missouri's 1st District Democratic primary, ending a political dynasty that has spanned more than a half-century.
St. Louis Circuit Attorney Kim Gardner, whose job performance has been lauded by some civil rights activists and criticized by President Donald Trump and other leading Republicans, also won a challenge from former homicide prosecutor Mary Pat Carl.
Missouri's Republican-led Legislature has repeatedly rejected Medicaid expansion proposals over the past decade, prompting supporters to turn to the initiative process.
Idaho, Maine, Nebraska, Oklahoma and Utah have all expanded Medicaid through ballot questions following inaction by state lawmakers, according to the nonpartisan Kaiser Family Foundation. Oklahoma became the 37th state to expand eligibility for Medicaid under the federal law last month.
Missouri's Medicaid program currently does not cover most adults without children, and its income eligibility threshold for parents is one of the lowest in the nation at about one-fifth of the poverty level.
The ballot proposal will expand eligibility under the terms of the 2010 federal health care law signed by President Barack Obama. That law provides a higher-than-usual federal funding share for states that expand Medicaid coverage to adults earning up to 138% of the federal poverty level, about $17,600 for an individual or $30,000 for a family of three.
The office of Democratic Auditor Nicole Galloway, who won the Democratic primary for governor on Tuesday, said the financial impact on the state was not clear. The office has estimated that expanding Medicaid could cost the state at least $200 million or save as much as $1 billion annually by 2026.
Republican opponents cited the potential costs as reason to oppose the ballot initiative. Bonnie Ciro, 73, a hairdresser in Liberty, said she voted against the proposal because she doesn't trust politicians to use the money, and she doesn't want to pay higher taxes.
"It's too much money," Ciro said. "I think it's a scam, I don't trust what they say. (Politicians) tell you one thing and then do another thing with these kinds of programs."
By proposing a constitutional amendment instead of a new law, Missouri supporters have ensured that lawmakers will be unable to change it without going back to voters.
Republican Gov. Mike Parson, who opposes Medicaid expansion and won the Republican primary for a full term, moved the vote on the proposal up from the Nov. 3 general election to Tuesday's primary. Parson said the earlier vote would give the state more time to financially prepare for Medicaid expansion, if it passes. He said his decision was not about politics.
Galloway's campaign has said Parson switched the day of the vote on Medicaid because fewer people typically vote in August compared to November, possibly giving opponents a better chance of defeating the measure.
Voter turnout during the 2016 presidential general election in Missouri was almost three times higher than turnout for that year's August primary. Even in 2018, a record year for turnout during a primary, roughly 1 million more voters turned up at the polls in November compared to August.
Local election authorities projected a statewide voter turnout of nearly 37% Tuesday.


cnbc--2020-08-05--Trump campaign sues to try to stop Nevadans from voting by mail

U.S. President Donald Trump watches as General Charles Brown takes the oath of office as incoming Chief of Staff of the U.S. Air Force in the Oval Office of the White House in Washington , August 4 , 2020 .
The re-election campaign of President Donald Trump on Tuesday night followed through on his threats to sue Nevada over its plan to conduct the November election almost entirely by mail-in ballot .
The suit , which claims such statewide voting by mail is unconstitutional , comes one day after Nevada Gov .
Steve Sisolak signed a bill that would facilitate @ @ @ @ @ @ @ , with a limited number of in-person polls .
Trump has been railing against mail-in voting since spring , arguing that it invites voter fraud .
There 's no evidence of widespread voter fraud in the United States , according to numerous investigations and studies .
In May the president threatened on Twitter to `` hold up funds to the State '' over voting by mail .
The suit , filed in U.S. District Court in Nevada , argues that the law signed by Sisolak , would essentially mean that voters no longer @ @ @ @ @ @ @ that vote counting delayed as a result of possible U.S .
Postal Service sluggishness would prolong elections beyond a reasonable time frame .
The Nevada law `` contravenes those valid federal laws by requiring elections officials to accept and count ballots received after Election Day even when those ballots lack objective evidence that voters cast them on or before Election Day , '' the lawsuit states .
`` In short , AB4 effectively postpones and prolongs Nevada 's 2020 general election past the Election Day established by Congress . ''
The governor 's @ @ @ @ @ @ @ for comment Tuesday night .
The bill , which vows that every Nevadan will get a ballot by mail , came in the wake of Nevada Secretary of State Barbara Cegavske 's decision in March to hold the state 's June primary by mail in response to the ongoing coronavirus pandemic .
The suit was filed on behalf of the Trump campaign as well as the Republican National Committee and the Nevada Republican Party .
It decries the Nevada law because , it says , the legislation was passed by `` a straight-party-line @ @ @ @ @ @ @ '' The suit argues that because some counties in Nevada preside over elections , residents ' votes could be treated differently depending on where they live .
The claim also outlined the president 's own concerns with mail-in voting that , despite his own use of absentee ballots , they invite fraud .
It cites examples of ballots found in the trash and stuffed haphazardly in mailboxes .
Voter fraud in Nevada , the suit claims , is `` inevitable . ''
But there is no evidence of widespread voter fraud , by @ @ @ @ @ @ @ Trump said on Fox News ' `` Fox & Friends '' that Democratic Party efforts to make voting easier and more widespread would doom the Republicans .
`` They had levels of voting , that if you ever agreed to it you 'd never have a Republican elected in this country again , '' the president said .
The filing seeks a judgment that Nevada 's mail-in voting law is unconstitutional under federal election law and under the Fourteenth Amendment 's vow of equal protection for citizens .

People protest against the passage of a mail-in voting bill during a Nevada Republican party demonstration at the Grant Sawyer State Office Building on August 4, 2020 in Las Vegas, Nevada.
The re-election campaign of President Donald Trump on Tuesday night followed through on his threats to sue Nevada over its plan to conduct the November election almost entirely by mail-in ballot.
The suit, which claims such statewide voting by mail is unconstitutional, comes one day after Nevada Gov. Steve Sisolak signed a bill that would facilitate mail-in voting for most of the state, with a limited number of in-person polls.
Trump has been railing against mail-in voting since spring, arguing that it invites voter fraud. There's no evidence of widespread voter fraud in the United States, according to numerous investigations and studies.
In May the president threatened on Twitter to "hold up funds to the State" over voting by mail.
The suit, filed in U.S. District Court in Nevada, argues that the law signed by Sisolak, would essentially mean that voters no longer must weigh in before Election Day and that vote counting delayed as a result of possible U.S. Postal Service sluggishness would prolong elections beyond a reasonable time frame.
The Nevada law "contravenes those valid federal laws by requiring elections officials to accept and count ballots received after Election Day even when those ballots lack objective evidence that voters cast them on or before Election Day," the lawsuit states. "In short, AB4 effectively postpones and prolongs Nevada's 2020 general election past the Election Day established by Congress."
The governor's office did not immediately respond to request for comment Tuesday night.
The bill, which vows that every Nevadan will get a ballot by mail, came in the wake of Nevada Secretary of State Barbara Cegavske's decision in March to hold the state's June primary by mail in response to the ongoing coronavirus pandemic.
The suit was filed on behalf of the Trump campaign as well as the Republican National Committee and the Nevada Republican Party. It decries the Nevada law because, it says, the legislation was passed by "a straight-party-line vote taken on a Sunday afternoon."
The suit argues that because some counties in Nevada preside over elections, residents' votes could be treated differently depending on where they live.
The claim also outlined the president's own concerns with mail-in voting that, despite his own use of absentee ballots, they invite fraud. It cites examples of ballots found in the trash and stuffed haphazardly in mailboxes. Voter fraud in Nevada, the suit claims, is "inevitable."
But there is no evidence of widespread voter fraud, by mail or otherwise.
In March, Trump said on Fox News' "Fox & Friends" that Democratic Party efforts to make voting easier and more widespread would doom the Republicans. "They had levels of voting, that if you ever agreed to it you'd never have a Republican elected in this country again," the president said.
The filing seeks a judgment that Nevada's mail-in voting law is unconstitutional under federal election law and under the Fourteenth Amendment's vow of equal protection for citizens.


cnbc--2020-08-06--White House threatens executive action if it fails to reach coronavirus relief deal with Democrats

President Donald Trump holds an article as he speaks during a news conference at the White House , Thursday , July 30 , 2020 , in Washington .
The White House threatened to act on its own to provide coronavirus relief Wednesday after another day of talks with Democrats yielded no agreement .
Though the Trump administration apparently yielded ground in bargaining over extended unemployment insurance , a range of issues remained unresolved Wednesday after officials ' latest meeting with Democratic leaders .
Leaving a roughly two-hour huddle with House Speaker Nancy Pelosi , Senate Minority Leader Chuck Schumer and @ @ @ @ @ @ @ chief of staff Mark Meadows told reporters the sides had `` no agreement . ''
Congress and the Trump administration have struggled to strike an aid agreement after the enhanced unemployment benefits and a moratorium on evictions from federally-backed housing expired in late July .
Millions of Americans still unable to find work will now see a staggering drop in income until lawmakers can pass legislation .
In a CNN interview after Wednesday 's meeting , Meadows said President Donald Trump would take executive action to extend both extra jobless benefits and the @ @ @ @ @ @ @ House fail to strike a deal .
The threat may be a negotiating tactic because it is unclear if Trump has the power to take those steps .
Congress controls federal funding .
`` If Congress ca n't get it done , the president of the United States will , '' Meadows told CNN .
After the talks , Schumer told reporters that Democrats `` are not walking away '' from discussions .
The New York Democrat said the sides have `` wide differences '' as they struggle toward an agreement .
Pelosi @ @ @ @ @ @ @ long it would take negotiators to strike a deal .
`` I feel optimistic that there is a light at the end of the tunnel .
But how long the tunnel is remains to be seen , '' the California Democrat told reporters .
On Tuesday , the Trump administration team offered to extend extra federal unemployment insurance into December at $ 400 per week , NBC News and Politico reported .
The White House had floated keeping the previous $ 600 a week benefit for a week while negotiators hashed out a @ @ @ @ @ @ @ a plan that would set the insurance at $ 200 per week through September , then change the benefit to 70 % wage replacement .
Mnuchin and Meadows also offered to extend the eviction moratorium into December , the news outlets said .
Democrats cut their request for U.S .
Postal Service funding to $ 10 billion from $ 25 billion , according to the reports .
The four negotiators also met with Postmaster General Louis DeJoy on Wednesday .
Schumer said they had a `` heated discussion '' about ensuring efficient mail @ @ @ @ @ @ @ ballots by mail in November during the coronavirus pandemic .

President Donald Trump holds an article as he speaks during a news conference at the White House, Thursday, July 30, 2020, in Washington. Evan Vucci | AP
The White House threatened to act on its own to provide coronavirus relief Wednesday after another day of talks with Democrats yielded no agreement. Though the Trump administration apparently yielded ground in bargaining over extended unemployment insurance, a range of issues remained unresolved Wednesday after officials' latest meeting with Democratic leaders. Leaving a roughly two-hour huddle with House Speaker Nancy Pelosi, Senate Minority Leader Chuck Schumer and Treasury Secretary Steven Mnuchin, White House chief of staff Mark Meadows told reporters the sides had "no agreement." Congress and the Trump administration have struggled to strike an aid agreement after the enhanced unemployment benefits and a moratorium on evictions from federally-backed housing expired in late July. Millions of Americans still unable to find work will now see a staggering drop in income until lawmakers can pass legislation.
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In a CNN interview after Wednesday's meeting, Meadows said President Donald Trump would take executive action to extend both extra jobless benefits and the eviction moratorium if Democrats and the White House fail to strike a deal. The threat may be a negotiating tactic because it is unclear if Trump has the power to take those steps. Congress controls federal funding. "If Congress can't get it done, the president of the United States will," Meadows told CNN. After the talks, Schumer told reporters that Democrats "are not walking away" from discussions. The New York Democrat said the sides have "wide differences" as they struggle toward an agreement. Pelosi would not give any assurances about how long it would take negotiators to strike a deal. "I feel optimistic that there is a light at the end of the tunnel. But how long the tunnel is remains to be seen," the California Democrat told reporters. On Tuesday, the Trump administration team offered to extend extra federal unemployment insurance into December at $400 per week, NBC News and Politico reported. The White House had floated keeping the previous $600 a week benefit for a week while negotiators hashed out a broader deal. Senate Republicans have proposed a plan that would set the insurance at $200 per week through September, then change the benefit to 70% wage replacement. Mnuchin and Meadows also offered to extend the eviction moratorium into December, the news outlets said. Democrats cut their request for U.S. Postal Service funding to $10 billion from $25 billion, according to the reports.
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The four negotiators also met with Postmaster General Louis DeJoy on Wednesday. Schumer said they had a "heated discussion" about ensuring efficient mail delivery when millions of Americans cast their ballots by mail in November during the coronavirus pandemic. Spokespeople for the Democratic leaders and Trump administration officials did not immediately respond to requests for comment on the reported proposals. The concessions would mark some of the first progress on seemingly intractable issues since the GOP last week released its counteroffer to a House Democratic plan. Despite the signs of movement toward a deal, Democrats and Republicans remain far apart on aid for state and local governments, funding for schools, and assistance for food, rent and mortgage payments, among other topics. Schumer also suggested Wednesday that he would not accept an agreement without an extension of the $600 per week jobless benefit. "At the moment, however, the White House is not [supporting $600 a week], and we are not going to strike a deal unless we extend the unemployment benefits which have kept nearly 12 million Americans out of poverty," he said on the Senate floor. It appears likely Congress will have to approve a bill with largely Democratic votes in both the GOP-controlled Senate and Democratic-held House. Senate Majority Leader Mitch McConnell, R-Ky., acknowledged Tuesday that his caucus has "divisions about what to do" to extend unemployment insurance. The top Senate Republican also said he is "prepared to support" the deal Democrats and the White House strike, even if he has "problems with certain parts of it."
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cnbc--2020-08-06--Ohio Gov. Mike DeWine tests positive for coronavirus ahead of Trump visit

Ohio Gov .
Mike DeWine tested positive for the coronavirus Thursday before he was scheduled to greet President Donald Trump upon his arrival in Cleveland , a statement from DeWine 's office said .
DeWine , a Republican , has no symptoms of the virus , but plans to quarantine at his home for the next two weeks , according to the statement .
The announcement came shortly after Trump left the White House to travel to Ohio , where he is set to speak about the economy and tour a Whirlpool manufacturing plant .
The president on the trip @ @ @ @ @ @ @ roundtable event with his supporters and attend a fundraising committee reception in the evening .
Trump is scheduled to travel to New Jersey later in the day .
`` I want to just say that a very good friend of mine just tested positive , do you know that ? ''
Trump told a crowd of supporters outside Air Force One after he landed in the Buckeye State .
`` Our great governor , governor of Ohio , DeWine , just tested positive , just here .
And we want to wish him @ @ @ @ @ @ @ , '' Trump said .
`` But he 's a great guy , he 's done a fantastic job . ''
DeWine , 73 , is the second governor to have tested positive for Covid-19 .
Republican Gov .
Kevin Stitt of Oklahoma was diagnosed with the virus in mid July .
DeWine had postponed his Thursday briefing on the virus in order to attend Trump 's arrival , according to Cleveland.com .
That briefing was reportedly postponed until Friday at 2 p.m. Trump landed before 2 p.m .
ET at Burke Lakefront @ @ @ @ @ @ @ planned to greet him on the tarmac .
DeWine was tested as part of the `` standard protocol '' for meeting with the president , according to the statement from the governor 's office .
His test , which apparently delivered results within hours , came back positive , DeWine 's office said .
He will return to Columbus , the state 's capital , where he and his wife , first lady Fran DeWine , will both be tested , the statement said .
`` The President wishes Governor DeWine a speedy @ @ @ @ @ @ @ he 's doing for the great state of Ohio , '' White House spokesman Judd Deere said in a statement to CNBC .
Ohio has been hit hard by the coronavirus .
There have been 96,305 total confirmed and probable cases of Covid-19 in the state since the pandemic began , along with a total of 3,596 deaths , according to the Ohio Department of Health .
The coronavirus has infected more than 4.8 million people in the United States , killing more than 158,000 , according to data compiled by Johns Hopkins @ @ @ @ @ @ @ in Covid-19 cases , DeWin imposed additional measures to try to slow the spread of the disease in his state .
Ohio last month announced a statewide mask mandate applying to all people in indoor public spaces , as well as in outdoor situations where a social distance can not be maintained .
DeWine has also proposed a plan to stop all alcohol sales at restaurants and bars after 10 p.m. nightly .
Correction : Ohio last month announced a statewide mask mandate .
An earlier version misstated the timing .

Ohio Gov. Mike DeWine said he tested negative for the coronavirus, in contrast with test results he received earlier Thursday.
DeWine said he had a PCR test administered after an antigen test earlier indicated he had tested positive for the coronavirus. The earlier test was administered before the Republican governor was scheduled to greet President Donald Trump upon his arrival in Cleveland.
PCR or polymerase chain reaction tests are considered the most accurate kind available on the market, but demand has often overwhelmed supply, leading to delays. These tests detect genetic material related to the virus, while antigen tests look for protein fragments found on or within the virus.
DeWine explained the antigen test was conducted as a part of protocol ahead of meeting with the president. While this kind of test is based off "new technology to reduce the cost and improve the turnaround time," DeWine said his state "does not have much experience with antigen tests."
"We will be working with the manufacturer to have a better understanding of how the discrepancy between these two tests could have occurred," he said.
DeWine said he and his wife would have another PCR test conducted on Saturday "out of an abundance of caution, and at the direction of medical professionals."
The announcement of DeWine's earlier test results came shortly after Trump left the White House to travel to Ohio, where he was set to speak about the economy and tour a Whirlpool manufacturing plant. The president was also scheduled to participate in a roundtable event with his supporters and attend a fundraising committee reception in the evening. Trump was scheduled to travel to New Jersey later in the day.


cnbc--2020-08-06--New York AG seeks to dissolve NRA in lawsuit accusing leaders of self-dealing, causing $64 million i

New York AG seeks to dissolve NRA in lawsuit accusing leaders of self-dealing, causing $64 million in losses

The suit was filed in New York county in the New York State Supreme Court .
At a press conference announcing the suit , James said the NRA was `` a breeding ground for greed , abuse , and brazen illegality . ''
According to the lawsuit , the senior leadership of the NRA squandered millions in donations on personal trips , private jets and expensive meals .
The failure to lawfully manage the organization 's funds contributed to losses of $ 64 million over three years , the suit says .
New York Attorney General Letitia James on Thursday @ @ @ @ @ @ @ dissolve the National Rifle Association in a lawsuit that accuses the leadership of the flagging nonprofit of diverting millions of dollars for their own personal use .
New York State Attorney General , Letitia James , speaks during a news conference , to announce a suit to dissolve the National Rifle Association , In New York , U.S. , August 6 , 2020 .
James is asking the court to dissolve the NRA and require each of the current and former executives named in the suit to pay full restitution .
The suit @ @ @ @ @ @ @ CEO Wayne LaPierre , should n't be permitted to ever again serve on the board of a New York charity .
`` The NRA 's influence has been so powerful that the organization went unchecked for decades while top executives funneled millions into their own pockets , '' James said .
`` The NRA is fraught with fraud and abuse , which is why , today , we seek to dissolve the NRA , because no organization is above the law . ''
The New York lawsuit involves allegations of civil , not @ @ @ @ @ @ @ that the investigation was ongoing and `` if we uncover any criminal activity , we will refer it to the Manhattan district attorney . ''
D.C. Attorney General Karl Racine announced nearly simultaneously on Thursday that the district was suing the NRA Foundation , alleging that the foundation allowed its funds `` to be diverted from charitable purposes and wasted to prop up the NRA in impermissible ways . ''
NRA president Carolyn Meadows said in a statement that the suit is `` a baseless , premeditated attack on our organization and the @ @ @ @ @ @ @ . ''
`` You could have set your watch by it : the investigation was going to reach its crescendo as we move into the 2020 election cycle , '' Meadows said .
`` It 's a transparent attempt to score political points and attack the leading voice in opposition to the leftist agenda . ''
The suit continues a long-running battle between the state and the gun-rights group , which has been chartered in New York since 1871 .
James , who is a Democrat , threatened to investigate the NRA 's @ @ @ @ @ @ @ general and likened the group in 2018 to a `` terrorist organization . ''
James said on Thursday that the suit was unrelated to her personal views on gun violence , but Meadows countered that it was a `` a power grab by a political opportunist – a desperate move that is part of a rank political vendetta . ''
The NRA cited James 's comments about the NRA being a terrorist organization in a countersuit seeking to end the AG 's case .
New York 's lawsuit comes as the NRA , @ @ @ @ @ @ @ tremendous political pressure around the country , suffers from financial hardship that predates the coronavirus pandemic but which was exacerbated by the economic downturn .
The group , which spent tens of millions of dollars boosting President Donald Trump 's 2016 campaign , has reportedly laid off 200 staffers in 2020 citing declines in revenue .
It also announced pay cuts and four-day work weeks in April .
The lawsuit claims that the group had a $ 27.8 million surplus in 2015 , which declined by about $ 64 million by 2018 , @ @ @ @ @ @ @ water .
The group 's financial situation was in part driven by lavish personal spending by the group 's leaders , according to the lawsuit , in violation of their fiduciary duties and New York and federal laws .

The suit was filed in New York county in the New York State Supreme Court. At a press conference announcing the suit, James said the NRA was "a breeding ground for greed, abuse, and brazen illegality."
According to the lawsuit, the senior leadership of the NRA squandered millions in donations on personal trips, private jets and expensive meals. The failure to lawfully manage the organization's funds contributed to losses of $64 million over three years, the suit says.
New York Attorney General Letitia James on Thursday announced that the state is seeking to dissolve the National Rifle Association in a lawsuit that accuses the leadership of the flagging nonprofit of diverting millions of dollars for their own personal use.
New York State Attorney General, Letitia James, speaks during a news conference, to announce a suit to dissolve the National Rifle Association, In New York, U.S., August 6, 2020.
James is asking the court to dissolve the NRA and require each of the current and former executives named in the suit to pay full restitution. The suit argues that the four executives, including CEO Wayne LaPierre, shouldn't be permitted to ever again serve on the board of a New York charity.
"The NRA's influence has been so powerful that the organization went unchecked for decades while top executives funneled millions into their own pockets," James said. "The NRA is fraught with fraud and abuse, which is why, today, we seek to dissolve the NRA, because no organization is above the law."
The New York lawsuit involves allegations of civil, not criminal, violations. But James said that the investigation was ongoing and "if we uncover any criminal activity, we will refer it to the Manhattan district attorney."
D.C. Attorney General Karl Racine announced nearly simultaneously on Thursday that the district was suing the NRA Foundation, alleging that the foundation allowed its funds "to be diverted from charitable purposes and wasted to prop up the NRA in impermissible ways."
NRA president Carolyn Meadows said in a statement that the suit is "a baseless, premeditated attack on our organization and the Second Amendment freedoms it fights to defend."
"You could have set your watch by it: the investigation was going to reach its crescendo as we move into the 2020 election cycle," Meadows said. "It's a transparent attempt to score political points and attack the leading voice in opposition to the leftist agenda."
The suit continues a long-running battle between the state and the gun-rights group, which has been chartered in New York since 1871.
James, who is a Democrat, threatened to investigate the NRA's nonprofit status during her campaign for attorney general and likened the group in 2018 to a "terrorist organization."
James said on Thursday that the suit was unrelated to her personal views on gun violence, but Meadows countered that it was a "a power grab by a political opportunist – a desperate move that is part of a rank political vendetta." The NRA cited James's comments about the NRA being a terrorist organization in a countersuit seeking to end the AG's case.
New York's lawsuit comes as the NRA, which boasts 5 million members and exerts tremendous political pressure around the country, suffers from financial hardship that predates the coronavirus pandemic but which was exacerbated by the economic downturn.
The group, which spent tens of millions of dollars boosting President Donald Trump's 2016 campaign, has reportedly laid off 200 staffers in 2020 citing declines in revenue. It also announced pay cuts and four-day work weeks in April.
The lawsuit claims that the group had a $27.8 million surplus in 2015, which declined by about $64 million by 2018, putting the group $36 million under water.
The group's financial situation was in part driven by lavish personal spending by the group's leaders, according to the lawsuit, in violation of their fiduciary duties and New York and federal laws.


cnbc--2020-08-06--Top U.S. diplomat for Iran resigns ahead of crucial vote to extend arms embargo

U.S. Special Representative for Iran , Brian Hook , speaks during a briefing at the US Department of State January 17 , 2020 , in Washington , DC .
WASHINGTON — Brian Hook , the Trump administration 's top diplomat for Iran , is stepping down from his post as Washington tries to rein in Tehran with its `` maximum pressure '' campaign .
`` Special Representative Hook has been my point person on Iran for over two years and he has achieved historic results countering the Iranian regime , '' Secretary of State Mike Pompeo said in a Thursday @ @ @ @ @ @ @ trusted advisor to me and a good friend .
I thank him for his service , '' Pompeo added without giving a reason for Hook 's departure .
Pompeo said that Hook will be succeeded by Elliott Abrams , an Iran hard-liner who is currently the State Department 's special representative for Venezuela .
It was also not immediately clear when Hook would leave his role .
The latest revelation comes at a critical time for U.S. diplomatic relations with Iran , which the Trump administration considers a rogue state .
Tensions between @ @ @ @ @ @ @ 's withdrawal from the landmark Iran nuclear deal brokered by the Obama administration .
Next week , the United Nations Security Council will vote on whether global powers should extend an international arms embargo on Iran .
The arms embargo on Iran is currently set to end on Oct. 18 under Tehran 's 2015 nuclear deal with world powers .
The 2015 nuclear agreement lifted sanctions on Iran that crippled its economy and cut its oil exports roughly in half .
In exchange for sanctions relief , Iran accepted limits on its nuclear @ @ @ @ @ @ @ facilities .
Tehran has said it will not negotiate with Washington while sanctions are in place .

U.S. Special Representative for Iran, Brian Hook, speaks during a briefing at the US Department of State January 17, 2020, in Washington, DC.
WASHINGTON — Brian Hook, the Trump administration's top diplomat for Iran, is stepping down from his post as Washington tries to rein in Tehran with its "maximum pressure" campaign.
"Special Representative Hook has been my point person on Iran for over two years and he has achieved historic results countering the Iranian regime," Secretary of State Mike Pompeo said in a Thursday statement. "He has been a trusted advisor to me and a good friend. I thank him for his service," Pompeo added without giving a reason for Hook's departure.
Pompeo said that Hook will be succeeded by Elliott Abrams, an Iran hard-liner who is currently the State Department's special representative for Venezuela. It was also not immediately clear when Hook would leave his role.
The latest revelation comes at a critical time for U.S. diplomatic relations with Iran, which the Trump administration considers a rogue state. Tensions between Washington and Tehran have soared after Trump's withdrawal from the landmark Iran nuclear deal brokered by the Obama administration.
Next week, the United Nations Security Council will vote on whether global powers should extend an international arms embargo on Iran. The arms embargo on Iran is currently set to end on Oct. 18 under Tehran's 2015 nuclear deal with world powers.
The 2015 nuclear agreement lifted sanctions on Iran that crippled its economy and cut its oil exports roughly in half. In exchange for sanctions relief, Iran accepted limits on its nuclear program and allowed international inspectors into its facilities. Tehran has said it will not negotiate with Washington while sanctions are in place.


cnbc--2020-08-06--McConnell and Pelosi expect a coronavirus relief deal — but huge differences remain

The two most powerful lawmakers in Washington told CNBC on Thursday they believe Congress will strike a coronavirus relief agreement but said major differences must be resolved during an increasingly bitter process .
`` Exactly when that deal comes together I ca n't tell you , but I think it will at some point in the near future , '' Republican Senate Majority Leader Mitch McConnell said on `` Squawk on the Street . ''
Speaking to CNBC shortly after McConnell , House Speaker Nancy Pelosi , D-Calif. , also said she expects an agreement to boost an economy and @ @ @ @ @ @ @ Negotiators have struggled to craft an aid bill that could pass both chambers of Congress as Democrats and Republicans try to hash out a bevy of disputes .
The sides have to decide how to extend extra federal unemployment insurance , continue a moratorium on evictions from federally backed housing , help schools educate students safely and offer relief to cash-strapped state and local governments .
Pelosi and Senate Minority Leader Chuck Schumer have repeatedly cited progress after a series of meetings with Treasury Secretary Steven Mnuchin and White House chief of staff @ @ @ @ @ @ @ to reach an accord .
The four officials plan to meet again at 5 p.m .
ET on Thursday , NBC News reported .
`` Will we find a solution ?
We will , '' Pelosi told CNBC .
`` Will we have an agreement ?
We will . ''
But illustrating the election-year tensions at work as officials slog toward a bill , Pelosi took a shot at Republicans and their priorities .
Asked why she could not work with the GOP by explaining that legislation would help people of color and @ @ @ @ @ @ @ Pelosi responded , `` Perhaps you mistook [ Republicans ] for somebody who gives a damn . ''
Democrats and the White House have apparently started to yield ground on issues including unemployment insurance and funding for the U.S .
Postal Service .
They still appear far from any consensus as millions of people face the prospect of slipping into poverty .
On Wednesday , Meadows said the sides `` continue to be trillions of dollars apart '' on legislation .
Last week , the GOP proposed a roughly $ 1 trillion relief @ @ @ @ @ @ @ approach than House Democrats , who passed a $ 3 trillion package in May .
McConnell met with Trump at the White House on Thursday morning , he told NBC News .
He said they talked `` a little bit about everything . ''
Meadows has indicated the Trump administration could pull out of talks and try to address jobless benefits and the eviction moratorium by executive action if the sides fail to reach an agreement by Friday .
Schumer insisted Wednesday that Democrats `` are not walking away '' from talks .
@ @ @ @ @ @ @ can accomplish through unilateral action , as he needs Congress to approve funding for programs .
Even so , Pelosi said she hopes Trump takes steps himself to stop evictions .
`` He can extend the moratorium , and I hope that he does , '' she said .
But she noted that a moratorium is only so effective if people lack the money to pay their rent .
Democrats have pushed for rental and mortgage assistance funds in the bill .
Republicans did not include money for housing payment aid in their @ @ @ @ @ @ @ nearly $ 1 trillion more in aid for states and municipalities and strengthened Supplemental Nutrition Assistance Program benefits to be included .
McConnell told CNBC that `` the argument is over how much [ aid ] is appropriate at this particular juncture . ''
The Senate Republican leader has previously said he is `` prepared to support '' whatever deal Democrats and the Trump administration strike , even if he does not like parts of it .
McConnell will likely have to rely on Democrats and the least conservative Republicans to pass a @ @ @ @ @ @ @ GOP senators oppose even the $ 1 trillion bill .
`` I 've got members … who think we 've done enough , but that 's not my view , '' he told CNBC .
Lawmakers face pressure to approve more relief after a $ 600 per week enhanced federal unemployment benefit expired at the end of July .
Millions of people who lost jobs because of the pandemic have relied on the payments and now face a sudden and sharp loss of income .
Democrats want to extend the extra unemployment benefits @ @ @ @ @ @ @ year .
In their legislation , Senate Republicans called to continue the payments at $ 200 per week through September , then set the benefit at 70 % wage replacement .

watch now
The two most powerful lawmakers in Washington told CNBC on Thursday they believe Congress will strike a coronavirus relief agreement but said major differences must be resolved during an increasingly bitter process. "Exactly when that deal comes together I can't tell you, but I think it will at some point in the near future," Republican Senate Majority Leader Mitch McConnell said on "Squawk on the Street." Speaking to CNBC shortly after McConnell, House Speaker Nancy Pelosi, D-Calif., also said she expects an agreement to boost an economy and health-care system devastated by the pandemic. Negotiators have struggled to craft an aid bill that could pass both chambers of Congress as Democrats and Republicans try to hash out a bevy of disputes. The sides have to decide how to extend extra federal unemployment insurance, continue a moratorium on evictions from federally backed housing, help schools educate students safely and offer relief to cash-strapped state and local governments. Pelosi and Senate Minority Leader Chuck Schumer have repeatedly cited progress after a series of meetings with Treasury Secretary Steven Mnuchin and White House chief of staff Mark Meadows. But they have failed to reach an accord. The four officials plan to meet again at 5 p.m. ET on Thursday, NBC News reported. "Will we find a solution? We will," Pelosi told CNBC. "Will we have an agreement? We will."
watch now
But illustrating the election-year tensions at work as officials slog toward a bill, Pelosi took a shot at Republicans and their priorities. Asked why she could not work with the GOP by explaining that legislation would help people of color and other Americans who face structural barriers, Pelosi responded, "Perhaps you mistook [Republicans] for somebody who gives a damn." Democrats and the White House have apparently started to yield ground on issues including unemployment insurance and funding for the U.S. Postal Service. They still appear far from any consensus as millions of people face the prospect of slipping into poverty. On Wednesday, Meadows said the sides "continue to be trillions of dollars apart" on legislation. Last week, the GOP proposed a roughly $1 trillion relief plan. Republicans took a more narrow approach than House Democrats, who passed a $3 trillion package in May. McConnell met with Trump at the White House on Thursday morning, he told NBC News. He said they talked "a little bit about everything." Meadows has indicated the Trump administration could pull out of talks and try to address jobless benefits and the eviction moratorium by executive action if the sides fail to reach an agreement by Friday. Schumer insisted Wednesday that Democrats "are not walking away" from talks. It is unclear what President Donald Trump can accomplish through unilateral action, as he needs Congress to approve funding for programs. Even so, Pelosi said she hopes Trump takes steps himself to stop evictions. "He can extend the moratorium, and I hope that he does," she said.
watch now
But she noted that a moratorium is only so effective if people lack the money to pay their rent. Democrats have pushed for rental and mortgage assistance funds in the bill. Republicans did not include money for housing payment aid in their plan. Democrats have also pushed for nearly $1 trillion more in aid for states and municipalities and strengthened Supplemental Nutrition Assistance Program benefits to be included. McConnell told CNBC that "the argument is over how much [aid] is appropriate at this particular juncture." The Senate Republican leader has previously said he is "prepared to support" whatever deal Democrats and the Trump administration strike, even if he does not like parts of it. McConnell will likely have to rely on Democrats and the least conservative Republicans to pass a bill in the Senate, as many GOP senators oppose even the $1 trillion bill. "I've got members … who think we've done enough, but that's not my view," he told CNBC. Lawmakers face pressure to approve more relief after a $600 per week enhanced federal unemployment benefit expired at the end of July. Millions of people who lost jobs because of the pandemic have relied on the payments and now face a sudden and sharp loss of income. Democrats want to extend the extra unemployment benefits at $600 a week into next year. In their legislation, Senate Republicans called to continue the payments at $200 per week through September, then set the benefit at 70% wage replacement.
watch now
The White House offered Democrats a short-term extension of the enhanced insurance. Pelosi and Schumer rejected it. New economic data released Thursday show the extent to which people still rely on the benefits in a floundering economy. Another 1.2 million people filed initial jobless claims last week. Continuing claims, or people getting benefits for two straight weeks, came in at 16.1 million. Democrats have repeatedly accused Republicans of moving too slowly to offer more relief during the pandemic. The GOP did not release its offer countering the Democratic bill until last week, giving the parties only a few days to strike an agreement before financial lifelines expired. He argued that Congress needed to wait to see how the U.S. recovered after lawmakers passed more than $2.5 trillion in aid earlier this year. The economy appeared to lose momentum in July as Covid-19 outbreaks around the country forced states to pause or roll back their economic reopening. McConnell said it is "not too late" to pass more aid. "This is the perfect time to look at it," he said. Subscribe to CNBC on YouTube.


cnbc--2020-08-06--Pence says Supreme Court Chief Justice Roberts has been 'a disappointment to conservatives'

U.S. Vice President Mike Pence leads a White House coronavirus disease ( COVID-19 ) task force briefing with Dr. Deborah Birx , the White House coronavirus response coordinator , at the U.S. Education Department in Washington , U.S. , July 8 , 2020 .
Vice President Mike Pence joined a conservative chorus blasting Chief Justice John Roberts over recent Supreme Court decisions , calling the George W. Bush appointee a `` disappointment to conservatives . ''
President Donald Trump 's No .
2 said in an interview with the Christian Broadcasting Network he has respect for the Supreme Court as @ @ @ @ @ @ @ that recent decisions on abortion and coronavirus-related restrictions on church services were `` a reminder of just how important this election is for the future of the Supreme Court . ''
`` We remember the issue back in 2016 , which I believe loomed large in voters ' decisions between Hillary Clinton and the man who would become president of the United States , '' Pence said in the interview published published Wednesday evening .
`` And some people thought it would not be as big an issue these days , but I @ @ @ @ @ @ @ The Supreme Court term that ended last month , the first full term with both of Trump 's appointees on the bench , had Republicans up in arms over what some called politically biased decisions .
While the court handed major wins to both conservatives and liberals in several major cases , high-profile rulings on reproductive rights activists , LGBT workers and the young migrants known as `` Dreamers '' earned fury from those on the right .
In the interview , Pence singled out the abortion ruling .
The case concerned a @ @ @ @ @ @ @ the state to obtain admitting privileges at a nearby hospital .
The nine-member court struck down the law 5-4 , with Roberts joining the court 's four Democratic appointees .
Pence called the Louisiana law a `` very modest restriction '' and said the case was `` a wake-up call for pro-life voters around the country who understand , in a very real sense , the destiny of the Supreme Court is on the ballot in 2020 . ''
While Roberts voted with the liberals to strike down the law , he pointedly @ @ @ @ @ @ @ and said his vote was bound by a precedent from 2016 , where the court had struck down a nearly identical law in Texas .
Liberals suspected that Roberts ' move meant that , even given the loss for conservatives in the Louisiana case , the top court was likely to allow more restrictive abortion laws than it had in the past .
That view was bolstered when the court a few days later ordered the 7th U.S .
Circuit Court of Appeals to reconsider rulings striking down Indiana abortion laws , including @ @ @ @ @ @ @ .
Roberts did not immediately respond to a request for comment on Pence 's remarks .
Trump has sought to make the Supreme Court a key issue for conservatives ahead of the election , including by promising a new list of potential nominees by the fall .
There is evidence that a similar tactic was successful last cycle .
More than a quarter of Trump voters told pollsters after the 2016 race that the vacancy on the court at the time was the most important issue shaping their vote .
Whether the top @ @ @ @ @ @ @ remains an open question .
One key difference is that , at the moment , the court has no vacancies , though its eldest member , 87-year-old liberal Justice Ruth Bader Ginsburg , continues to fight health problems .
A recent survey by Morning Consult found that the court is one of the less important issues for voters , with 57 % of Democrats and 53 % of Republicans saying it was very important .
Pence 's comments come as other influential conservatives and Republican elected leaders target the Roberts court .
One @ @ @ @ @ @ @ Missouri , who once clerked for Roberts .
Hawley called the abortion decision a `` disaster '' and said after the court turned back Trump 's efforts to end the Obama-era DACA program that it was the `` most disappointing week at # SCOTUS in years . ''
Josh Blackman , a constitutional scholar at the South Texas College of Law , went further .
In an opinion article for Newsweek published Monday , he suggested that Roberts should resign , citing recent leaks from the court to CNN .
While Pence has @ @ @ @ @ @ @ , Trump has frequently gone on the offensive , reserving his most heated attacks for Roberts .
The chief justice has typically followed the Supreme Court 's regular practice of not engaging , though he did speak up once in 2018 after Trump accused a lower court judge of being an `` Obama judge . ''
Roberts said at the time that America does not have `` Obama judges or Trump judges , Bush judges or Clinton judges . ''
`` What we have is an extraordinary group of dedicated judges doing their @ @ @ @ @ @ @ those appearing before them , '' he said .

U.S. Vice President Mike Pence leads a White House coronavirus disease (COVID-19) task force briefing with Dr. Deborah Birx, the White House coronavirus response coordinator, at the U.S. Education Department in Washington, U.S., July 8, 2020.
Vice President Mike Pence joined a conservative chorus blasting Chief Justice John Roberts over recent Supreme Court decisions, calling the George W. Bush appointee a "disappointment to conservatives."
President Donald Trump's No. 2 said in an interview with the Christian Broadcasting Network he has respect for the Supreme Court as an institution.
But, he said that recent decisions on abortion and coronavirus-related restrictions on church services were "a reminder of just how important this election is for the future of the Supreme Court."
"We remember the issue back in 2016, which I believe loomed large in voters' decisions between Hillary Clinton and the man who would become president of the United States," Pence said in the interview published published Wednesday evening. "And some people thought it would not be as big an issue these days, but I think that's all changed."
The Supreme Court term that ended last month, the first full term with both of Trump's appointees on the bench, had Republicans up in arms over what some called politically biased decisions.
While the court handed major wins to both conservatives and liberals in several major cases, high-profile rulings on reproductive rights activists, LGBT workers and the young migrants known as "Dreamers" earned fury from those on the right.
In the interview, Pence singled out the abortion ruling. The case concerned a Louisiana measure that required abortion providers in the state to obtain admitting privileges at a nearby hospital.
The nine-member court struck down the law 5-4, with Roberts joining the court's four Democratic appointees.
Pence called the Louisiana law a "very modest restriction" and said the case was "a wake-up call for pro-life voters around the country who understand, in a very real sense, the destiny of the Supreme Court is on the ballot in 2020."
While Roberts voted with the liberals to strike down the law, he pointedly did not agree with their reasoning, and said his vote was bound by a precedent from 2016, where the court had struck down a nearly identical law in Texas.
Liberals suspected that Roberts' move meant that, even given the loss for conservatives in the Louisiana case, the top court was likely to allow more restrictive abortion laws than it had in the past. That view was bolstered when the court a few days later ordered the 7th U.S. Circuit Court of Appeals to reconsider rulings striking down Indiana abortion laws, including one that Pence had signed as governor.
Roberts did not immediately respond to a request for comment on Pence's remarks.
Trump has sought to make the Supreme Court a key issue for conservatives ahead of the election, including by promising a new list of potential nominees by the fall.
There is evidence that a similar tactic was successful last cycle. More than a quarter of Trump voters told pollsters after the 2016 race that the vacancy on the court at the time was the most important issue shaping their vote.
Whether the top court will be as influential this cycle remains an open question. One key difference is that, at the moment, the court has no vacancies, though its eldest member, 87-year-old liberal Justice Ruth Bader Ginsburg, continues to fight health problems.
A recent survey by Morning Consult found that the court is one of the less important issues for voters, with 57% of Democrats and 53% of Republicans saying it was very important.
Pence's comments come as other influential conservatives and Republican elected leaders target the Roberts court. One prominent example is Sen. Josh Hawley of Missouri, who once clerked for Roberts.
Hawley called the abortion decision a "disaster" and said after the court turned back Trump's efforts to end the Obama-era DACA program that it was the "most disappointing week at #SCOTUS in years."
Josh Blackman, a constitutional scholar at the South Texas College of Law, went further. In an opinion article for Newsweek published Monday, he suggested that Roberts should resign, citing recent leaks from the court to CNN.
While Pence has been relatively restrained about criticizing specific justices, Trump has frequently gone on the offensive, reserving his most heated attacks for Roberts. The chief justice has typically followed the Supreme Court's regular practice of not engaging, though he did speak up once in 2018 after Trump accused a lower court judge of being an "Obama judge."
Roberts said at the time that America does not have "Obama judges or Trump judges, Bush judges or Clinton judges."
"What we have is an extraordinary group of dedicated judges doing their level best to do equal right to those appearing before them," he said.


cnbc--2020-08-06--Trump's lender Deutsche Bank subpoenaed by NYC prosecutors, hands over documents, report says

US President Donald Trump arrives to speak to the press in the Brady Briefing Room of the White House in Washington , DC , on August 4 , 2020 .
Prosecutors in New York have subpoenaed President Donald Trump 's financial records from his longtime lender Deutsche Bank in a criminal probe , according to a report .
The Manhattan District Attorney 's office last year issued the subpoena for the records , The New York Times reported Wednesday , citing four people familiar with the inquiry .
The move suggests the inquiry into Trump 's business practices is broader @ @ @ @ @ @ @ .
Deutsche Bank complied with the subpoena , supplying the DA Cyrus Vance Jr. 's office with financial statements and other records Trump and the Trump Organization had given the bank when he was seeking loans , two people familiar with the inquiry told the Times .
Deutsche Bank declined CNBC 's request for comment .
The DA 's office did not immediately respond to a request for comment .
Vance himself revealed as recently as this week that his office could be investigating Trump and the Trump Organization for possible insurance and @ @ @ @ @ @ @ also seeking Trump 's financial records from the accounting firm Mazars USA as part of a probe into how the Trump Organization accounted for a hush-money payment to porn star , Stormy Daniels , who says she had sex with Trump years ago .
Trump has denied having sex with Daniels .
Late last month , Trump 's lawyers filed a new effort to block the Manhattan DA from obtaining his tax records .
The lawsuit came after the U.S. Supreme Court ruled that Trump as president did not have unqualified immunity , @ @ @ @ @ @ @ a state prosecutor seeking his records as part of a criminal probe .

US President Donald Trump arrives to speak to the press in the Brady Briefing Room of the White House in Washington, DC, on August 4, 2020.
Prosecutors in New York have subpoenaed President Donald Trump's financial records from his longtime lender Deutsche Bank in a criminal probe, according to a report.
The Manhattan District Attorney's office last year issued the subpoena for the records, The New York Times reported Wednesday, citing four people familiar with the inquiry. The move suggests the inquiry into Trump's business practices is broader than previously known, the Times said.
Deutsche Bank complied with the subpoena, supplying the DA Cyrus Vance Jr.'s office with financial statements and other records Trump and the Trump Organization had given the bank when he was seeking loans, two people familiar with the inquiry told the Times.
Deutsche Bank declined CNBC's request for comment. The DA's office did not immediately respond to a request for comment.
Vance himself revealed as recently as this week that his office could be investigating Trump and the Trump Organization for possible insurance and bank fraud.
Vance's office is also seeking Trump's financial records from the accounting firm Mazars USA as part of a probe into how the Trump Organization accounted for a hush-money payment to porn star,Stormy Daniels, who says she had sex with Trump years ago. Trump has denied having sex with Daniels.
Late last month, Trump's lawyers filed a new effort to block the Manhattan DA from obtaining his tax records. The lawsuit came after the U.S. Supreme Court ruled that Trump as president did not have unqualified immunity, as his lawyers had argued, against a state prosecutor seeking his records as part of a criminal probe.


cnbc--2020-08-07--Ohio Gov. Mike DeWine tests negative in second coronavirus test

Ohio Gov .
Mike DeWine said he tested negative for the coronavirus , in contrast with test results he received earlier Thursday .
DeWine said he had a PCR test administered after an antigen test earlier indicated he had tested positive for the coronavirus .
The earlier test was administered before the Republican governor was scheduled to greet President Donald Trump upon his arrival in Cleveland .
PCR or polymerase chain reaction tests are considered the most accurate kind available on the market , but demand has often overwhelmed supply , leading to delays .
These tests detect genetic material @ @ @ @ @ @ @ tests look for protein fragments found on or within the virus .
DeWine explained the antigen test was conducted as a part of protocol ahead of meeting with the president .
While this kind of test is based off `` new technology to reduce the cost and improve the turnaround time , '' DeWine said his state `` does not have much experience with antigen tests . ''
`` We will be working with the manufacturer to have a better understanding of how the discrepancy between these two tests could have occurred , @ @ @ @ @ @ @ and his wife would have another PCR test conducted on Saturday `` out of an abundance of caution , and at the direction of medical professionals . ''
The announcement of DeWine 's earlier test results came shortly after Trump left the White House to travel to Ohio , where he was set to speak about the economy and tour a Whirlpool manufacturing plant .
The president was also scheduled to participate in a roundtable event with his supporters and attend a fundraising committee reception in the evening .
Trump was scheduled to @ @ @ @ @ @ @ day .


cnbc--2020-08-08--Trump threatens executive action if no deal is reached in coronavirus stimulus talks

After coronavirus aid talks between Democratic leaders and the Trump administration ground to a halt Friday , President Donald Trump threatened to take executive action if the sides fail to reach a deal .
Negotiators emerged from a 90-minute meeting in the Capitol on Friday appearing to have made minimal progress toward bridging a gulf over spending to combat a once-in-a-lifetime pandemic .
Both Democrats and White House officials pointed to fundamental disagreements over how to address the crisis , making it unclear when they could agree on legislation that could pass both chambers of Congress .
Speaking to a @ @ @ @ @ @ @ Jersey country club on Friday evening , Trump said he would `` act under [ his ] authority as president to get Americans the relief they need '' if Congress fails to strike an agreement with his administration .
He said his pending executive orders would extend lapsed enhanced unemployment benefits through the end of the year at an unspecified level , continue an expired eviction moratorium and indefinitely suspend federal student loan payments .
They would also suspend the payroll tax through December .
Because Congress controls federal spending , it is @ @ @ @ @ @ @ those programs .
Trump said he was `` not at all '' worried about the legality of the moves .
Earlier Friday , Treasury Secretary Steven Mnuchin said it would `` take us a little bit of time to finalize [ the executive orders ] and process them . ''
Negotiators House Speaker Nancy Pelosi , Senate Minority Leader Chuck Schumer , Mnuchin and White House chief of staff Mark Meadows made minimal progress toward a relief deal over more than a week and a half of talks .
It is unclear now @ @ @ @ @ @ @ .
Leaving Friday 's meeting , Schumer called the huddle `` disappointing . ''
He and Pelosi said the White House again rejected their offer for Democrats to cut the asking price for their legislation by $ 1 trillion and for the Trump administration to increase its proposed spending by the same amount .
`` I 've told them , 'Come back when you are ready to give us a higher number , ' '' Pelosi , a California Democrat , told reporters .
Mnuchin indicated he would not come to the table @ @ @ @ @ @ @ pandemic relief .
He said he and Meadows `` will be back here any time to listen to new proposals . ''
House Democrats passed a roughly $ 3 trillion relief package in May , and Republicans last week proposed a bill that costs about $ 1 trillion .
Schumer has said Democrats would not accept legislation that puts less than $ 2 trillion into the pandemic response .
Pelosi has indicated that she could cut back spending by making some programs expire earlier than originally proposed .
Democrats and Republicans appear to @ @ @ @ @ @ @ issues including direct payments of up to $ 1,200 to Americans and extending a moratorium on evictions from federally backed housing .
They have failed to bridge a gulf on how to continue enhanced federal unemployment benefits , help schools reopen safely during the pandemic , and aid state and local governments facing budget shortfalls during the outbreak .
In a tweet Friday , Trump said he had `` no interest '' in Democrats ' request for nearly $ 1 trillion in state and local relief .
`` We are going a different @ @ @ @ @ @ @ a letter to colleagues Friday , Pelosi outlined several areas of disagreement .
It notably did not mention jobless benefits .
• She said Democrats aim to put $ 75 billion into Covid-19 testing and treatment , while the GOP bill includes $ 15 billion .
• Pelosi wrote that the GOP has offered $ 150 billion for states and municipalities , far below the $ 915 billion Democrats proposed .
• The speaker said the sides are `` a couple hundred billion dollars apart '' on money to help schools reopen .
@ @ @ @ @ @ @ in their legislation .
• Pelosi called for more money for food , water and utility assistance than the GOP has proposed .
• She said Democrats wanted to secure more concessions on ensuring a complete Census and safe voting during the pandemic .
It would take a massive effort for Democrats and the White House to even reach the outline of a deal soon .
But the clock is ticking : the expiration of both the $ 600 per week enhanced federal unemployment benefit and the eviction moratorium late last month have @ @ @ @ @ @ @ bills and remain in their homes .
The U.S. added 1.76 million jobs in July despite a resurgence in coronavirus cases that forced many states to pause or reverse their economic reopening plans .
The unemployment rate fell to 10.2 % , but was still higher than at any point during the 2008 financial crisis .
In a joint statement after the jobs report release Friday , Pelosi and Schumer said the data shows `` that the economic recovery spurred by the investments Congress has passed is losing steam and more investments are @ @ @ @ @ @ @ and livelihoods of the American people . ''
Democrats have insisted on extending the jobless benefit long term at $ 600 per week .
The White House has made several counteroffers , reportedly proposing extra payments of $ 400 per week into December .
On Friday , Mnuchin said the Trump administration has not received compromise offers on either unemployment insurance or state and municipal relief .
With no agreement on Capitol Hill , Trump — who has not participated in face-to-face talks — has plotted how to act on his own .
@ @ @ @ @ @ @ thinks the president has the power to extend the eviction moratorium , and urged him to do so .
Schumer , though , cautioned Trump on Thursday against taking executive action .
He indicated an order could get held up in court .
`` An executive order will leave millions of people out .
It will be litigated .
It wo n't be effective , and things will get worse , '' the New York Democrat said Thursday .
Speaking to reporters Friday , Schumer added that an executive order would be inadequate @ @ @ @ @ @ @ schools and Covid-19 testing and treatment .

watch now
After coronavirus aid talks between Democratic leaders and the Trump administration came to a halt Friday, President Donald Trump threatened to take executive action if the sides fail to reach a deal. Negotiators emerged from a 90-minute meeting in the Capitol on Friday appearing to have made minimal progress toward bridging a gulf over spending to combat a once-in-a-lifetime pandemic. Both Democrats and White House officials pointed to fundamental disagreements over how to address the crisis, making it unclear when they could agree on legislation that could pass both chambers of Congress. Speaking to a ballroom packed with members of his New Jersey country club on Friday evening, Trump said he would "act under [his] authority as president to get Americans the relief they need" if Congress fails to strike an agreement with his administration. He said his pending executive orders would extend lapsed enhanced unemployment benefits through the end of the year at an unspecified level, continue an expired eviction moratorium and indefinitely suspend federal student loan payments. They would also suspend the payroll tax through December. Because Congress controls federal spending, it is unclear what power Trump has to extend those programs. Trump said he was "not at all" worried about the legality of the moves. Earlier Friday, Treasury Secretary Steven Mnuchin said it would "take us a little bit of time to finalize [the executive orders] and process them." Negotiators House Speaker Nancy Pelosi, Senate Minority Leader Chuck Schumer, Mnuchin and White House chief of staff Mark Meadows made minimal progress toward a relief deal over more than a week and a half of talks. It is unclear now when they will restart discussions on legislation. Leaving Friday's meeting, Schumer called the huddle "disappointing." He and Pelosi said the White House again rejected their offer for Democrats to cut the asking price for their legislation by $1 trillion and for the Trump administration to increase its proposed spending by the same amount. "I've told them, 'Come back when you are ready to give us a higher number,'" Pelosi, a California Democrat, told reporters.
U.S. House Speaker Nancy Pelosi (D-CA), speaks next to Senate Minority Leader Chuck Schumer (D-NY), during a news conference on Capitol Hill in Washington, August 7, 2020. Jonathan Ernst | Reuters
Mnuchin indicated he would not come to the table again unless Democrats changed their tune on pandemic relief. He said he and Meadows "will be back here any time to listen to new proposals." House Democrats passed a roughly $3 trillion relief package in May, and Republicans last week proposed a bill that costs about $1 trillion. Schumer has said Democrats would not accept legislation that puts less than $2 trillion into the pandemic response. Pelosi has indicated that she could cut back spending by making some programs expire earlier than originally proposed. Democrats and Republicans appear to have come closer to an accord on issues including direct payments of up to $1,200 to Americans and extending a moratorium on evictions from federally backed housing. They have failed to bridge a gulf on how to continue enhanced federal unemployment benefits, help schools reopen safely during the pandemic, and aid state and local governments facing budget shortfalls during the outbreak. In a tweet Friday, Trump said he had "no interest" in Democrats' request for nearly $1 trillion in state and local relief. "We are going a different way!" he wrote. Donald Trump tweet In a letter to colleagues Friday, Pelosi outlined several areas of disagreement. It notably did not mention jobless benefits. She said Democrats aim to put $75 billion into Covid-19 testing and treatment, while the GOP bill includes $15 billion.
Pelosi wrote that the GOP has offered $150 billion for states and municipalities, far below the $915 billion Democrats proposed.
The speaker said the sides are "a couple hundred billion dollars apart" on money to help schools reopen. Republicans included $105 billion for schools in their legislation.
Pelosi called for more money for food, water and utility assistance than the GOP has proposed.
She said Democrats wanted to secure more concessions on ensuring a complete Census and safe voting during the pandemic. It would take a massive effort for Democrats and the White House to even reach the outline of a deal soon. But the clock is ticking: the expiration of both the $600 per week enhanced federal unemployment benefit and the eviction moratorium late last month have left millions of Americans scrambling to cover bills and remain in their homes. The U.S. added 1.76 million jobs in July despite a resurgence in coronavirus cases that forced many states to pause or reverse their economic reopening plans. The unemployment rate fell to 10.2%, but was still higher than at any point during the 2008 financial crisis. In a joint statement after the jobs report release Friday, Pelosi and Schumer said the data shows "that the economic recovery spurred by the investments Congress has passed is losing steam and more investments are still urgently needed to protect the lives and livelihoods of the American people."
watch now
Democrats have insisted on extending the jobless benefit long term at $600 per week. The White House has made several counteroffers, reportedly proposing extra payments of $400 per week into December. On Friday, Mnuchin said the Trump administration has not received compromise offers on either unemployment insurance or state and municipal relief. With no agreement on Capitol Hill, Trump — who has not participated in face-to-face talks — has plotted how to act on his own. Pelosi told CNBC on Thursday that she thinks the president has the power to extend the eviction moratorium, and urged him to do so. Schumer, though, cautioned Trump on Thursday against taking executive action. He indicated an order could get held up in court. "An executive order will leave millions of people out. It will be litigated. It won't be effective, and things will get worse," the New York Democrat said Thursday. Speaking to reporters Friday, Schumer added that an executive order would be inadequate because it would not include money for schools and Covid-19 testing and treatment.
watch now
Both the Senate and House left for the weekend after Thursday's sessions. The chambers have delayed their planned August recesses as they anticipate votes on a pandemic relief package. Complicating matters in Congress, the talks have taken on bitterness less than three months before the general election. Senate Majority Leader Mitch McConnell, R-Ky., finds himself stuck between conservative senators who don't want to spend more money and swing-state Republicans who need to win their races in November for the GOP to keep its majority in the chamber. He will likely have to rely on strong Democratic support to get a bill through the Senate. For now, a moment of unity looks far away. Pelosi went as far as to say Meadows "slammed the table and walked out" of a meeting on Thursday. Meadows disputed the account. "It's fabricated," he said. Subscribe to CNBC on YouTube.


cnbc--2020-08-07--Billionaire former hedge fund chief John Paulson to host big-money Hamptons fundraiser for Trump

The 2016-candidate Donald Trump speaks during a fireside chat with John Paulson , president of The Economic Club of New York , at the Economic Club of New York in New York , U.S. , on Sept. 15 , 2016 .
President Donald Trump is set to attend a big-money fundraiser Saturday at the home of one of his closest Wall Street allies .
Billionaire former hedge fund manager John Paulson will host Trump at his home in swanky Southampton , New York , according to people with direct knowledge of the matter .
Tickets for the dinner event are @ @ @ @ @ @ @ , an invitation says .
These people declined to be named as Paulson had yet to be publicly identified as one of the hosts .
According to the website Virtual Globetrotting , which tracks where luminaries live , Paulson 's property was once known as the `` Old Trees . ''
It 's described on the website as a `` gated estate of 10.4 acres — a private park , really — with a 15,000-square-foot 1911 Georgian mansion , guesthouse , barn , pool , and tennis court overlooking Lake Agawam , in @ @ @ @ @ @ @ Paulson and the Trump campaign did not return requests for comment .
Due to the coronavirus pandemic , the state of New York allows social gatherings of only up to 50 people , while Gov .
Andrew Cuomo has continued to call on people across the state to stay socially distant and wear masks .
The Hamptons are home to some of the wealthiest business executives in the country .
Republican officials recently told CNBC that all fundraiser attendees must test negative for Covid-19 on the day of the event , complete a @ @ @ @ @ @ @ .
Paulson , who used to run Paulson & Co. , recently returned money to his investors and turned the business into a private investment firm only for his family , The Wall Street Journal reported last month .
Forbes reports that Paulson has a net worth of just over $ 4 billion .
He has hosted events for the president in the past .
The proceeds for this weekend 's gatherings , which include a separate event featuring Donald Trump Jr. and his girlfriend , Kimberly Guilfoyle , is expected to raise @ @ @ @ @ @ @ committee , a joint fundraising operation between the campaign and the Republican National Committee .
Paulson has given over $ 330,000 to the committee in the 2020 election cycle , Federal Election Commission records show .
A spokesman for the RNC declined to comment .
Trump 's campaign recently announced that it and the RNC outraised their opponents in July .
Trump and the RNC brought in $ 165 million last month while presumptive Democratic nominee Joe Biden and the Democratic National Committee raised $ 140 million .
Trump and his team went @ @ @ @ @ @ @ over Biden of $ 300 million .
Public polling shows Biden ahead of Trump by just over 6 points , according a Real Clear Politics polling average .

The 2016-candidate Donald Trump speaks during a fireside chat with John Paulson, president of The Economic Club of New York, at the Economic Club of New York in New York, U.S., on Sept. 15, 2016.
President Donald Trump is set to attend a big-money fundraiser Saturday at the home of one of his closest Wall Street allies.
Billionaire former hedge fund manager John Paulson will host Trump at his home in swanky Southampton, New York, according to people with direct knowledge of the matter. Tickets for the dinner event are priced up to $500,000 per couple, an invitation says.
These people declined to be named as Paulson had yet to be publicly identified as one of the hosts.
According to the website Virtual Globetrotting, which tracks where luminaries live, Paulson's property was once known as the "Old Trees." It's described on the website as a "gated estate of 10.4 acres — a private park, really — with a 15,000-square-foot 1911 Georgian mansion, guesthouse, barn, pool, and tennis court overlooking Lake Agawam, in the heart of Southampton Village."
Paulson and the Trump campaign did not return requests for comment.
Due to the coronavirus pandemic, the state of New York allows social gatherings of only up to 50 people, while Gov. Andrew Cuomo has continued to call on people across the state to stay socially distant and wear masks. The Hamptons are home to some of the wealthiest business executives in the country.
Republican officials recently told CNBC that all fundraiser attendees must test negative for Covid-19 on the day of the event, complete a wellness questionnaire and pass a temperature screening.
Paulson, who used to run Paulson & Co., recently returned money to his investors and turned the business into a private investment firm only for his family, The Wall Street Journal reported last month.
Forbes reports that Paulson has a net worth of just over $4 billion. He has hosted events for the president in the past.
The proceeds for this weekend's gatherings, which include a separate event featuring Donald Trump Jr. and his girlfriend, Kimberly Guilfoyle, is expected to raise $15 million for the Trump Victory committee, a joint fundraising operation between the campaign and the Republican National Committee. Paulson has given over $330,000 to the committee in the 2020 election cycle, Federal Election Commission records show.
A spokesman for the RNC declined to comment.
Trump's campaign recently announced that it and the RNC outraised their opponents in July. Trump and the RNC brought in $165 million last month while presumptive Democratic nominee Joe Biden and the Democratic National Committee raised $140 million. Trump and his team went into August with a slight cash-on-hand advantage over Biden of $300 million.
Public polling shows Biden ahead of Trump by just over 6 points, according a Real Clear Politics polling average.