cnbc--2020-12-29--Op-ed: How Joe Biden can tap the private sector to accelerate transition to clean energy

U.S. President-elect Joe Biden speaks about the recent massive cyber attack against the U.S. and also other Biden administration goals in Wilmington , Delaware , December 22 , 2020 .
In fact , renewable energy is now cheaper than conventional power generation for over two-thirds of the planet .
Just last year , electricity generation from renewable sources surpassed coal in the US for the first time in the modern era .
The private sector has become increasingly focused on sustainability and climate risk , not only as a result of heightened awareness of climate change and accountability to stakeholders @ @ @ @ @ @ @ dramatic innovations that have substantially lowered the price of clean energy , catalyzing a shift in markets , creating financial incentives , and motivating corporations and institutional investors to capitalize on these trends .
And the newly announced Biden environmental team will find a receptive business community with which to cooperate .
During the past several years , efforts to address climate change in the US have been led not by the federal government and federal policies—although many states and cities have continued to act on their own—but by businesses and financial markets @ @ @ @ @ @ @ plan that strives to address the threat of climate change more comprehensively than that of any other administration , the Biden presidency could mark a turning point in federal government policy and usher in a new era for clean energy .
As we enter the third decade of the 21st century , we are on the cusp of a green industrial revolution .
Now is the time for President-elect Joe Biden and his formidable team of scientific , economic , and national security experts to engage with the private sector to accelerate this @ @ @ @ @ @ @ This has also been a watershed year for corporate climate announcements with a growing number of companies setting targets for zero net emissions with clear timelines and actions .
Meanwhile , an ever-growing number of investors are refusing to invest in conventional energy sources as the economics become less attractive and are instead focusing on clean technologies .
The value of private equity investments in renewable energy projects has doubled in the past year , and in the past year and a half , venture funding for climate tech companies jumped to $ @ @ @ @ @ @ @ .
This has also been a watershed year for corporate climate announcements with a growing number of companies setting targets for zero net emissions with clear timelines and actions .
A slew of technology companies announced significant decarbonization goals , including Google , which pledged to offset all the carbon it has ever emitted and be 100 % powered by renewable energy by 2030 .
In the transportation sector , JetBlue became the first US airline to achieve carbon neutrality for all domestic flights .
In the telecommunications sector , AT & T @ @ @ @ @ @ @ , launching a new climate change analytical tool to quantify climate risks throughout the network .
Notably , several major oil and gas companies also pledged this year to substantially decarbonize their businesses , including BP , Shell , and just last month , Equinor .
According to a recent report that analyzes progress under the Paris Agreement—and notes substantial private sector momentum—over 1,500 companies accounting for $ 12.5 trillion of combined revenues have now set net zero emissions targets .
Over the course of modern history , there have been a number @ @ @ @ @ @ @ that have brought transformative change : the Industrial Revolution in the 1750s and 1760s , which ushered in the rise of coal power and the use of steam ; the invention of the first widely-applicable incandescent lightbulb in the 1870s , which extended the workday and improved quality of life ; and the rise of oil , which overtook coal as the primary global source of power in 1964 and spurred a new era of mass-production and global transportation .
Today , we are at another such tipping point as we continue on @ @ @ @ @ @ @ But we must pick up the pace , acting more rapidly and comprehensively to head off the existential risks and costs of climate change .
In 2020 the private sector has led the way , but the federal government still has opportunities to re-engage .
The incoming Biden administration should establish a Sustainable Recovery Task Force of business and labor leaders that can provide a private sector perspective to climate and economic policies , as well as convene a Building Back Better summit within its first 100 days , bringing together private sector @ @ @ @ @ @ @ .
We believe this moment presents an historic opportunity for our new national leadership to join companies and institutional investors in bold climate actions to expedite the global transition to a low-carbon economy .
Laura Tyson , a former chair of the President 's Council of Economic Advisers during the Clinton administration , is a professor at the Haas School of Business at the University of California , Berkeley and a member of the Board of Advisors at Angeleno Group , LLC , a clean energy and climate solutions investment firm .
Daniel @ @ @ @ @ @ @ Angeleno Group .

U.S. President-elect Joe Biden speaks about the recent massive cyber attack against the U.S. and also other Biden administration goals in Wilmington, Delaware, December 22, 2020.
In fact, renewable energy is now cheaper than conventional power generation for over two-thirds of the planet. Just last year, electricity generation from renewable sources surpassed coal in the US for the first time in the modern era.
The private sector has become increasingly focused on sustainability and climate risk, not only as a result of heightened awareness of climate change and accountability to stakeholders, but also as a result of dramatic innovations that have substantially lowered the price of clean energy, catalyzing a shift in markets, creating financial incentives, and motivating corporations and institutional investors to capitalize on these trends.
And the newly announced Biden environmental team will find a receptive business community with which to cooperate. During the past several years, efforts to address climate change in the US have been led not by the federal government and federal policies—although many states and cities have continued to act on their own—but by businesses and financial markets.
With an ambitious $2 trillion plan that strives to address the threat of climate change more comprehensively than that of any other administration, the Biden presidency could mark a turning point in federal government policy and usher in a new era for clean energy.
As we enter the third decade of the 21st century, we are on the cusp of a green industrial revolution. Now is the time for President-elect Joe Biden and his formidable team of scientific, economic, and national security experts to engage with the private sector to accelerate this historic transition to a low-carbon world.
This has also been a watershed year for corporate climate announcements with a growing number of companies setting targets for zero net emissions with clear timelines and actions.
Meanwhile, an ever-growing number of investors are refusing to invest in conventional energy sources as the economics become less attractive and are instead focusing on clean technologies. The value of private equity investments in renewable energy projects has doubled in the past year, and in the past year and a half, venture funding for climate tech companies jumped to $16.1 billion—from $418 million in 2013.
This has also been a watershed year for corporate climate announcements with a growing number of companies setting targets for zero net emissions with clear timelines and actions. A slew of technology companies announced significant decarbonization goals, including Google, which pledged to offset all the carbon it has ever emitted and be 100% powered by renewable energy by 2030.
In the transportation sector, JetBlue became the first US airline to achieve carbon neutrality for all domestic flights. In the telecommunications sector, AT&T has pledged net carbon neutrality by 2035, launching a new climate change analytical tool to quantify climate risks throughout the network. Notably, several major oil and gas companies also pledged this year to substantially decarbonize their businesses, including BP, Shell, and just last month, Equinor.
According to a recent report that analyzes progress under the Paris Agreement—and notes substantial private sector momentum—over 1,500 companies accounting for $12.5 trillion of combined revenues have now set net zero emissions targets.
Over the course of modern history, there have been a number of inflection points in the energy sector that have brought transformative change: the Industrial Revolution in the 1750s and 1760s, which ushered in the rise of coal power and the use of steam; the invention of the first widely-applicable incandescent lightbulb in the 1870s, which extended the workday and improved quality of life; and the rise of oil, which overtook coal as the primary global source of power in 1964 and spurred a new era of mass-production and global transportation.
Today, we are at another such tipping point as we continue on the path towards a clean-powered world. But we must pick up the pace, acting more rapidly and comprehensively to head off the existential risks and costs of climate change.
In 2020 the private sector has led the way, but the federal government still has opportunities to re-engage. The incoming Biden administration should establish a Sustainable Recovery Task Force of business and labor leaders that can provide a private sector perspective to climate and economic policies, as well as convene a Building Back Better summit within its first 100 days, bringing together private sector representatives to advance a detailed climate agenda.
We believe this moment presents an historic opportunity for our new national leadership to join companies and institutional investors in bold climate actions to expedite the global transition to a low-carbon economy.
Laura Tyson, a former chair of the President's Council of Economic Advisers during the Clinton administration, is a professor at the Haas School of Business at the University of California, Berkeley and a member of the Board of Advisors at Angeleno Group, LLC, a clean energy and climate solutions investment firm. Daniel Weiss is co-founder and Managing Partner of Angeleno Group.


cnbc--2020-12-30--McConnell blocks $2,000 stimulus checks, then ties them to unrelated Trump demands on tech and elect

McConnell blocks $2,000 stimulus checks, then ties them to unrelated Trump demands on tech and election

Senate Majority Leader Mitch McConnell on Tuesday blocked Senate Minority Leader Chuck Schumer 's attempt to unanimously pass a bill to increase direct payments in the year-end coronavirus relief package to $ 2,000 .
The Kentucky Republican later Tuesday introduced a bill that would boost the size of the checks to $ 2,000 from $ 600 , repeal Section 230 legal liability protections for internet platforms and create a commission to study election issues .
The bill would meet all of President Donald Trump 's recent demands , which are unrelated , but would not get Democratic support and become @ @ @ @ @ @ @ would both avoid the act of actually passing $ 2,000 payments but allow GOP senators running for reelection in Georgia 's Jan. 5 runoffs to express support for Trump 's priorities .
In a statement Tuesday , Schumer said if McConnell `` tries loading up '' the bill `` with unrelated , partisan provisions that will do absolutely nothing to help struggling families across the country , '' larger direct payments would not become law .
`` Any move like this by Sen. McConnell would be a blatant attempt to deprive Americans of @ @ @ @ @ @ @ he said .
McConnell faces pressure to act after the House — with nearly all Democrats and a few dozen Republicans on board — voted Monday to increase the cash deposits to $ 2,000 from $ 600 .
Senate Republicans wary of spending more on pandemic aid are looking for a way to both meet the demands of a president who called the year-end coronavirus relief and funding bill a disgrace and hold on to their majority during races overshadowed by the crisis .
McConnell brought the chamber back this week with one @ @ @ @ @ @ @ of the annual National Defense Authorization Act .
He has not yet committed to bringing the $ 2,000 payment bill up for a vote , and it is unclear now how one would take shape .
Still , Democrats tried to use the limited tools at their disposal to force a vote .
Speaking on the Senate floor Tuesday afternoon , McConnell said he planned to set up a Wednesday vote on the veto override .
He outlined three priorities Trump said he wanted Congress to address when he signed the coronavirus relief @ @ @ @ @ @ @ : larger direct payments , Section 230 legal liability protections for internet platforms and unfounded concerns about widespread election fraud .
He said that `` this week , the Senate will begin a process to bring these three priorities into focus . ''
Schumer then called for the Senate to vote on both the defense bill veto override and the $ 2,000 payments and `` let the chips fall where they may . ''
When he asked for unanimous consent to increase the size of the checks , McConnell objected .
Sen. Bernie @ @ @ @ @ @ @ vote on the larger payments after Wednesday 's vote on the National Defense Authorization Act .
McConnell again objected .
Then , Sanders followed through on his threat to delay consideration of the veto override by objecting to a Wednesday vote .
As the Senate needs unanimous support to move quickly on most issues , any one senator can grind activity to a halt if they choose .
The chamber now likely will not vote on overruling the president on the defense bill until the new year .
It could then move on @ @ @ @ @ @ @ escalated the pressure on Republicans to pass larger payments Tuesday afternoon .
However , he indicated he would like to tie the relief to Section 230 reform and his desperate efforts to overturn President-elect Joe Biden 's November victory .
The president 's lawyers have repeatedly failed to prove systemic voter fraud cost him the election .
`` Unless Republicans have a death wish , and it is also the right thing to do , they must approve the $ 2000 payments ASAP .
$ 600 IS NOT ENOUGH ! ''
Trump wrote @ @ @ @ @ @ @ rid of Section 230 - Do n't let Big Tech steal our Country , and do n't let the Democrats steal the Presidential Election .
Get tough ! ''
If the full Senate considers stand-alone stimulus check legislation , all 48 Democrats and independents who caucus with them would likely vote for it .
It would then need support from 12 of the chamber 's 52 Republicans .
But a bill with the Section 230 and election provisions attached would lose many , if not all , Democrats .
The Treasury Department has @ @ @ @ @ @ @ going out as soon as this week .
If Congress approves the increase to $ 2,000 , it will then be added to the original sum .
As some GOP senators opposed the $ 900 billion in spending in the latest relief package , they may not support adding $ 463 billion — the Joint Committee on Taxation 's cost estimate for increasing the checks to $ 2,000 — to the price tag .
However , several Republicans such as Sens .
Marco Rubio of Florida , Josh Hawley of Missouri , and @ @ @ @ @ @ @ have said they will back the $ 2,000 payments .
In a tweet responding to Loeffler and Perdue 's support for bigger checks , Hawley said : `` We have the votes .
Let 's vote today . ''
He , like Sanders , said he would block consideration of the defense bill until the Senate votes on the $ 2,000 payments .
If the GOP would decide against holding a vote on bigger checks , it would have to defy the man who controls the Republican Party : Trump .
He has @ @ @ @ @ @ @ he threatened to veto the aid bill last week .
He said he wanted larger direct payments along with less foreign aid funding in the $ 1.4 trillion government funding package passed in tandem with the relief proposal .
Trump relented and signed the legislation into law Sunday night , approving the pandemic aid and preventing a government shutdown .
Votes in the House on Monday show the GOP may have become more comfortable bucking Trump .
Only 44 Republicans supported the $ 2,000 check legislation , while 130 GOP representatives voted against @ @ @ @ @ @ @ easily overriding Trump 's veto of the defense bill .
Sanders ' move to keep the Senate in Washington through the week could also hamper Loeffler and Perdue , the Georgia Republicans campaigning in crucial Jan. 5 runoff elections .
If Democrats win both races — in which they have hammered the GOP senators for their response to the coronavirus — they will flip control of the Senate .
However , it is unclear if and when the two senators will return to Washington .
The Democrats running in those contests , Raphael @ @ @ @ @ @ @ the GOP senators ' coronavirus response inadequate and pushed them to support $ 2,000 payments .
In Fox News interviews Tuesday , Loeffler and Perdue suggested they would back the larger checks .
`` I 've stood by the president 100 % of the time .
I 'm proud to do that and I 've said absolutely , we need to get relief to Americans now .
And I will support that , '' Loeffler said when asked if she would vote for the bill .
Perdue told Fox he is `` delighted @ @ @ @ @ @ @ push for $ 2,000 deposits .
On Twitter later , both fully endorsed the $ 2,000 payments .
Both had previously resisted efforts to send higher direct payments as part of the stimulus package .
The effort to boost the size of direct payments comes amid widespread concern about whether the rescue package went far enough to help Americans struggling to pay for housing and food .
Congress failed for months to renew pandemic-era financial lifelines that expired over the summer as millions started to spiral into poverty .
Before he agreed to @ @ @ @ @ @ @ had pushed for about $ 500 billion in new spending .
Democrats , meanwhile , called for at least $ 2.2 trillion in aid .
The compromise package the parties eventually reached includes $ 600 direct payments , half of what Congress passed in March as part of the CARES Act .
It also adds a $ 300 federal unemployment insurance supplement , half of the enhanced payment Congress approved in March .
The $ 600 weekly supplement for jobless Americans expired in July after lawmakers failed to renew it .
The new @ @ @ @ @ @ @ Paycheck Protection Program loans .
It also extends a federal eviction moratorium through Jan. 31 and creates a $ 25 billion rental assistance fund .
The bill puts more than $ 8 billion into Covid-19 vaccine distribution and more than $ 20 billion into providing it to Americans for free .
It also includes $ 82 billion in education funding and $ 45 billion for transportation .
It left out any aid for state and local governments struggling as the pandemic drags on .

watch now
Senate Majority Leader Mitch McConnell on Tuesday blocked Senate Minority Leader Chuck Schumer's attempt to unanimously pass a bill to increase direct payments in the year-end coronavirus relief package to $2,000. The Kentucky Republican later Tuesday introduced a bill that would boost the size of the checks to $2,000 from $600, repeal Section 230 legal liability protections for internet platforms and create a commission to study election issues. The bill would meet all of President Donald Trump's recent demands, which are unrelated, but would not get Democratic support and become law. Through the bill, Republicans would both avoid the act of actually passing $2,000 payments but allow GOP senators running for reelection in Georgia's Jan. 5 runoffs to express support for Trump's priorities. In a statement Tuesday, Schumer said if McConnell "tries loading up" the bill "with unrelated, partisan provisions that will do absolutely nothing to help struggling families across the country," larger direct payments would not become law. "Any move like this by Sen. McConnell would be a blatant attempt to deprive Americans of a $2,000 survival check," he said. McConnell faces pressure to act after the House — with nearly all Democrats and a few dozen Republicans on board — voted Monday to increase the cash deposits to $2,000 from $600. Senate Republicans wary of spending more on pandemic aid are looking for a way to both meet the demands of a president who called the year-end coronavirus relief and funding bill a disgrace and hold on to their majority during races overshadowed by the crisis. McConnell brought the chamber back this week with one major goal: overriding Trump's veto of the annual National Defense Authorization Act. He has not yet committed to bringing the $2,000 payment bill up for a vote, and it is unclear now how one would take shape.
watch now
Still, Democrats tried to use the limited tools at their disposal to force a vote. Speaking on the Senate floor Tuesday afternoon, McConnell said he planned to set up a Wednesday vote on the veto override. He outlined three priorities Trump said he wanted Congress to address when he signed the coronavirus relief and government spending bill into law Sunday: larger direct payments, Section 230 legal liability protections for internet platforms and unfounded concerns about widespread election fraud. He said that "this week, the Senate will begin a process to bring these three priorities into focus." Schumer then called for the Senate to vote on both the defense bill veto override and the $2,000 payments and "let the chips fall where they may." When he asked for unanimous consent to increase the size of the checks, McConnell objected. Sen. Bernie Sanders, I-Vt., then requested a vote on the larger payments after Wednesday's vote on the National Defense Authorization Act. McConnell again objected. Then, Sanders followed through on his threat to delay consideration of the veto override by objecting to a Wednesday vote. As the Senate needs unanimous support to move quickly on most issues, any one senator can grind activity to a halt if they choose. The chamber now likely will not vote on overruling the president on the defense bill until the new year. It could then move on to the stimulus checks legislation. Trump escalated the pressure on Republicans to pass larger payments Tuesday afternoon. However, he indicated he would like to tie the relief to Section 230 reform and his desperate efforts to overturn President-elect Joe Biden's November victory. The president's lawyers have repeatedly failed to prove systemic voter fraud cost him the election. "Unless Republicans have a death wish, and it is also the right thing to do, they must approve the $2000 payments ASAP. $600 IS NOT ENOUGH!" Trump wrote on Twitter. "Also, get rid of Section 230 - Don't let Big Tech steal our Country, and don't let the Democrats steal the Presidential Election. Get tough!" If the full Senate considers stand-alone stimulus check legislation, all 48 Democrats and independents who caucus with them would likely vote for it. It would then need support from 12 of the chamber's 52 Republicans. But a bill with the Section 230 and election provisions attached would lose many, if not all, Democrats. The Treasury Department has said the $600 payments will start going out as soon as this week. If Congress approves the increase to $2,000, it will then be added to the original sum. As some GOP senators opposed the $900 billion in spending in the latest relief package, they may not support adding $463 billion — the Joint Committee on Taxation's cost estimate for increasing the checks to $2,000 — to the price tag. However, several Republicans such as Sens. Marco Rubio of Florida, Josh Hawley of Missouri, and Kelly Loeffler and David Perdue of Georgia have said they will back the $2,000 payments.
U.S. Senate Majority Leader Mitch McConnell (R-KY) talks with reporters following the weekly Republican Senate conference meeting in the Mansfield Room at the U.S. Capitol in Washington, December 1, 2020. Tom Williams | Reuters


cnbc--2020-12-30--$600 stimulus payments started going out Tuesday night, Treasury Secretary Mnuchin says

Treasury Secretary Steven Mnuchin answers questions during a House Financial Services Committee hearing on `` Oversight of the Treasury Department 's and Federal Reserve 's Pandemic Response '' in the Rayburn House Office Building in Washington , December 2 , 2020 .
WASHINGTON — The Trump administration began sending stimulus payments of up to $ 600 to millions of Americans Tuesday evening as part of the recently passed Covid relief bill , the second such direct payment to Americans amid historic unemployment and ongoing business closures .
In a pair of tweets Tuesday evening , Treasury Secretary Steven Mnuchin wrote @ @ @ @ @ @ @ in some accounts by direct deposit as early as tonight . ''
He also wrote that the government would begin the process of mailing out paper checks on Wednesday for individuals without government-registered bank accounts .
`` These payments are an integral part of our commitment to providing vital additional economic relief to the American people during this unprecedented time , '' Mnuchin wrote in a separate emailed statement .
The second round of payments will be distributed automatically in the following breakdown : up to $ 600 for eligible individuals , $ @ @ @ @ @ @ @ to $ 600 for each child .
Similar to the first round of payments in March , the amounts begin to taper off after certain income levels .
`` Generally , if you have adjusted gross income for 2019 up to $ 75,000 for individuals and up to $ 150,000 for married couples filing joint returns and surviving spouses , you will receive the full amount of the second payment , '' the Treasury Department wrote in a statement .
`` For filers with income above those amounts , the payment amount is @ @ @ @ @ @ @ Last week , Mnuchin told CNBC that Americans who qualify for direct payments could see those funds hit their bank accounts in a matter of days .
President Donald Trump 's delays in signing the Covid relief package as he criticized the size of the checks and the foreign aid funds included in an accompanying year-end funding bill had raised concerns that the deposits could come later .
`` The good news is this is a very , very fast way of getting money into the economy .
Let me emphasize : People @ @ @ @ @ @ @ the beginning of next week , '' Mnuchin told CNBC host Jim Cramer .
`` So it 's very fast , it 's money that gets recirculated in the economy , '' he added .
`` People go out and spend this money , and that helps small business and that helps getting more people back to work . ''

Treasury Secretary Steven Mnuchin answers questions during a House Financial Services Committee hearing on "Oversight of the Treasury Department's and Federal Reserve's Pandemic Response" in the Rayburn House Office Building in Washington, December 2, 2020.
WASHINGTON — The Trump administration began sending stimulus payments of up to $600 to millions of Americans as part of the recently passed Covid relief bill, the second such direct payment to Americans amid historic unemployment and business closures.
In a pair of tweets Tuesday evening, Treasury Secretary Steven Mnuchin said payments "may begin to arrive in some accounts by direct deposit as early as tonight." He also said the government would begin mailing out paper checks on Wednesday for individuals without government-registered bank accounts.
"These payments are an integral part of our commitment to providing vital additional economic relief to the American people during this unprecedented time," Mnuchin said in an emailed statement.
The second round of payments will be distributed automatically in the following breakdown: up to $600 for eligible individuals, $1,200 for couples filing jointly and up to $600 for each child. Similar to the first round of payments in March, the amounts begin to taper off after certain income levels.


cnbc--2020-12-30--$2,000 stimulus checks likely doomed after McConnell refuses to separate them from unrelated Trump d

$2,000 stimulus checks likely doomed after McConnell refuses to separate them from unrelated Trump demands

Efforts to boost the direct payments in the year-end coronavirus relief bill to $ 2,000 appeared all but doomed Wednesday as Senate Majority Leader Mitch McConnell said he would not separate the plan from President Donald Trump 's unrelated demands on technology and election policy .
`` The Senate is not going to split apart the three issues that President Trump linked together just because Democrats are afraid to address two of them , '' he said on the Senate floor .
The Democratic-held House has approved a stand-alone bill to boost the checks to $ 2,000 from $ 600 @ @ @ @ @ @ @ joined nearly all Democrats in backing the measure .
The GOP-controlled Senate has said it will not pass the checks without attaching other Trump priorities that Democrats consider toxic — and McConnell knows would sink any legislation .
Senate Minority Leader Chuck Schumer , D-N.Y. , tried to unanimously call up a vote on the stand-alone bill to send bigger payments for the second straight day .
He said , `` the only way to get the American people the $ 2,000 checks they deserve and need is to pass the House bill @ @ @ @ @ @ @ McConnell again rejected his request .
As the dispute played out in the Senate , the Treasury Department started to send out the payments of up to $ 600 on Tuesday night .
If Congress can overcome the thorny political dynamics to increase the deposits to $ 2,000 — which looked unlikely Wednesday — the government would later add on to the cash it already distributed .
McConnell , R-Ky. , on Tuesday introduced the bill that would boost the payments to $ 2,000 but also repeal Section 230 of the Communications Decency @ @ @ @ @ @ @ for internet platforms , and create a commission on voter fraud .
The president has pushed for the latter provision as he alleges without evidence that widespread fraud cost him the 2020 presidential race against President-elect Joe Biden .
Schumer said Tuesday that tying other proposals to the direct cash measure `` would be a blatant attempt to deprive Americans of a $ 2,000 survival check . ''
McConnell has tried to balance a desire not to immediately add to the price tag of the $ 900 billion rescue package , while appeasing @ @ @ @ @ @ @ sending more direct payments to struggling Americans .
The president 's demands have put the Senate GOP in a tricky position ahead of the Jan. 5 runoff elections in Georgia , which will determine whether the party keeps control of the chamber .
Schumer and House Speaker Nancy Pelosi on Wednesday urged the Senate to approve the stand-alone bill before the new Congress starts at noon ET on Sunday .
`` I do hope that in the days ahead — we only have a few days left in the session — that they @ @ @ @ @ @ @ suffering that is going on in this country , '' Pelosi , a California Democrat , said of Republicans .
Meanwhile , Sen. Pat Toomey , R-Pa. , blocked another attempt by Sen. Bernie Sanders , I-Vt. , to force a vote on the bigger payments on Wednesday .
`` It does n't make sense to have these universal payments .
Any relief should be targeted , '' he told CNBC earlier in the day .
The Senate has not yet voted to override Trump 's veto of the annual National Defense Authorization @ @ @ @ @ @ @ week to do so .
While the chamber plans to take procedural steps Wednesday to move toward a vote , it may not override the veto until as late as Saturday .
Sanders blocked swift consideration of the defense measure Tuesday as he called for a vote on the stand-alone bill to increase the direct payments to $ 2,000 .
In pushing again to pass the legislation Wednesday , the senator brought a blown up copy of a Trump tweet in which the president pushed for `` $ 2000 ASAP ! ''
At @ @ @ @ @ @ @ of Missouri , Marco Rubio of Florida , and Kelly Loeffler and David Perdue of Georgia — have expressed support for bigger payments .
Loeffler and Perdue are campaigning in Jan. 5 runoff elections that will determine which party controls the Senate for the next two years .
Hawley and Rubio are considered potential GOP candidates for president in 2024 .
Trump continues to call on Congress to approve $ 2,000 checks after he threatened to veto the relief bill because it included too little direct cash to Americans .
He relented and @ @ @ @ @ @ @ over checks continues more than eight months of disagreement on Capitol Hill about how far the federal government should go to boost the economy and health-care system during the pandemic .
Democrats have pushed to pass trillions more in aid since May , two months after Congress passed the more than $ 2 trillion CARES Act .
Republicans started to call for more relief again in July , and never increased their price tag above about $ 1 trillion .
Lawmakers then failed for months to approve any new relief before settling on @ @ @ @ @ @ @ this month .
They let lifelines such as the $ 600 per week federal unemployment supplement and the window to apply for forgivable small business loans , which helped to keep millions out of poverty and businesses ' doors open during the early days of the pandemic , fall to the wayside .
The new rescue package , which passed in the same legislation as a $ 1.4 trillion regular government spending plan , renews some of the provisions from the spring .
It puts a $ 300 per week unemployment enhancement in @ @ @ @ @ @ @ half of what jobless Americans got from the CARES Act .
It also extends provisions that allow gig , freelance and self-employed workers to get unemployment insurance , and increases the maximum number of benefit weeks .
The bill sends $ 600 direct payments to most Americans .
The sum is half of the $ 1,200 included in the CARES Act .
It also puts more than $ 300 billion into small business support , mostly through $ 284 billion in Paycheck Protection Program loans .
It includes $ 8 billion for vaccine @ @ @ @ @ @ @ with early inoculations .
The measure puts $ 82 billion into education and $ 45 billion into transportation .
It does not include state and local relief , a measure Democrats and many Republicans back to prevent layoffs from government payrolls .

watch now
Efforts to boost the direct payments in the year-end coronavirus relief bill to $2,000 appeared all but doomed Wednesday as Senate Majority Leader Mitch McConnell said he would not separate the plan from President Donald Trump's unrelated demands on technology and election policy. "The Senate is not going to split apart the three issues that President Trump linked together just because Democrats are afraid to address two of them," he said on the Senate floor. The Democratic-held House has approved a stand-alone bill to boost the checks to $2,000 from $600, as 44 Republicans prodded by Trump joined nearly all Democrats in backing the measure. The GOP-controlled Senate has said it will not pass the checks without attaching other Trump priorities that Democrats consider toxic — and McConnell knows would sink any legislation.
watch now
Senate Minority Leader Chuck Schumer, D-N.Y., tried to unanimously call up a vote on the stand-alone bill to send bigger payments for the second straight day. He said, "the only way to get the American people the $2,000 checks they deserve and need is to pass the House bill, and pass it now." McConnell again rejected his request. As the dispute played out in the Senate, the Treasury Department started to send out the payments of up to $600 on Tuesday night. If Congress can overcome the thorny political dynamics to increase the deposits to $2,000 — which looked unlikely Wednesday — the government would later add on to the cash it already distributed.
watch now
McConnell, R-Ky., on Tuesday introduced the bill that would boost the payments to $2,000 but also repeal Section 230 of the Communications Decency Act, which provides legal liability protections for internet platforms, and create a commission on voter fraud. The president has pushed for the latter provision as he alleges without evidence that widespread fraud cost him the 2020 presidential race against President-elect Joe Biden. Schumer said Tuesday that tying other proposals to the direct cash measure "would be a blatant attempt to deprive Americans of a $2,000 survival check."
watch now
McConnell has tried to balance a desire not to immediately add to the price tag of the $900 billion rescue package, while appeasing a GOP president who has fixated on sending more direct payments to struggling Americans. The president's demands have put the Senate GOP in a tricky position ahead of the Jan. 5 runoff elections in Georgia, which will determine whether the party keeps control of the chamber. Schumer and House Speaker Nancy Pelosi on Wednesday urged the Senate to approve the stand-alone bill before the new Congress starts at noon ET on Sunday. "I do hope that in the days ahead — we only have a few days left in the session — that they will see the light and understand the suffering that is going on in this country," Pelosi, a California Democrat, said of Republicans. Meanwhile, Sen. Pat Toomey, R-Pa., blocked another attempt by Sen. Bernie Sanders, I-Vt., to force a vote on the bigger payments on Wednesday. "It doesn't make sense to have these universal payments. Any relief should be targeted," he told CNBC earlier in the day.
watch now
The Senate has not yet voted to override Trump's veto of the annual National Defense Authorization Act. McConnell called lawmakers back this week to do so. While the chamber plans to take procedural steps Wednesday to move toward a vote, it may not override the veto until as late as Saturday. Sanders blocked swift consideration of the defense measure Tuesday as he called for a vote on the stand-alone bill to increase the direct payments to $2,000. In pushing again to pass the legislation Wednesday, the senator brought a blown up copy of a Trump tweet in which the president pushed for "$2000 ASAP!" At least four Republican senators — Josh Hawley of Missouri, Marco Rubio of Florida, and Kelly Loeffler and David Perdue of Georgia — have expressed support for bigger payments. Loeffler and Perdue are campaigning in Jan. 5 runoff elections that will determine which party controls the Senate for the next two years. Hawley and Rubio are considered potential GOP candidates for president in 2024. Trump continues to call on Congress to approve $2,000 checks after he threatened to veto the relief bill because it included too little direct cash to Americans. He relented and signed it Sunday. The Senate dispute over checks continues more than eight months of disagreement on Capitol Hill about how far the federal government should go to boost the economy and health-care system during the pandemic. Democrats have pushed to pass trillions more in aid since May, two months after Congress passed the more than $2 trillion CARES Act. Republicans started to call for more relief again in July, and never increased their price tag above about $1 trillion.
watch now
Lawmakers then failed for months to approve any new relief before settling on the $900 billion package that passed this month. They let lifelines such as the $600 per week federal unemployment supplement and the window to apply for forgivable small business loans, which helped to keep millions out of poverty and businesses' doors open during the early days of the pandemic, fall to the wayside. The new rescue package, which passed in the same legislation as a $1.4 trillion regular government spending plan, renews some of the provisions from the spring. It puts a $300 per week unemployment enhancement in place through mid-March. The payment is half of what jobless Americans got from the CARES Act. It also extends provisions that allow gig, freelance and self-employed workers to get unemployment insurance, and increases the maximum number of benefit weeks. The bill sends $600 direct payments to most Americans. The sum is half of the $1,200 included in the CARES Act. It also puts more than $300 billion into small business support, mostly through $284 billion in Paycheck Protection Program loans. It includes $8 billion for vaccine distribution as states struggle to keep up with early inoculations. The measure puts $82 billion into education and $45 billion into transportation. It does not include state and local relief, a measure Democrats and many Republicans back to prevent layoffs from government payrolls. Subscribe to CNBC on YouTube.


cnbc--2020-12-30--Trump-appointed federal media agency CEO blasted in letter by Radio Free Europe leaders

Leaders of Radio Free Europe/Radio Liberty blasted the Trump-appointed CEO of the U.S. federal media agency .
In a letter obtained by CNBC , leaders within the network criticized Michael Pack , the head of the U.S. Agency for Global Media .
Radio-Free Europe/Radio Liberty is considered a non-federal broadcasting network , but it is linked to the USAGM .
He has shaken up the ranks of the agency and its networks ' leadership , installing fellow loyalists of President Donald Trump in key roles .
The letter includes criticism of Pack 's board appointees , who later approved Ted @ @ @ @ @ @ @ Free Europe .
`` Defying longstanding practice , you have appointed a board of inexperienced partisan appointees with no industry or regional expertise – a board you yourself referred to as a placeholder board , and yet one which you are now apparently seeking to entrench for two years or more , '' the letter reads .
`` You have used this board to summarily approve Ted Lipien , an untested , unvetted candidate with a history of often one-sided writing about RFE/RL and other U.S. international broadcasters , '' it goes on @ @ @ @ @ @ @ that Lipien , a former Voice of America official , recently ran a blog post promoting the views of staffers objecting to what they saw as alleged liberal bias and a lack of conservative views in its programming .
Voice of America falls under USAGM 's purview .
The letter was signed by members of Radio Free Europe/Radio Liberty 's news division and editorial board , including the editor in chief and heads of digital strategy .
The letter is dated for Wednesday and was also sent to congressional leaders such as House @ @ @ @ @ @ @ Senate Majority Leader Mitch McConnell , R-Ky .
Pack pushed back on the letter in a statement provided to CNBC .
`` Ms. Sindelar 's letter is filled with inaccuracies .
There have been no attempts to 'compromise the [ networks ' ] freedom from political influence . '
On the contrary , all of the actions I have taken have been based on my congressionally mandated responsibility and commitment to fulfilling USAGM 's mission , '' Pack said .
The letter points out that Pack will likely not keep his job after @ @ @ @ @ @ @ Still , the letter suggests that the newsroom leaders believe Pack is still moving ahead anyway with bringing in new leaders .
`` We regard these actions as an eleventh-hour effort to secure a hold over RFE/RL for a single U.S. political party at a moment when your own tenure as CEO of U.S. foreign broadcasting is likely to end with the transition between administrations in Washington , '' the news leaders wrote .
Pack , who has been at the helm of USAGM since June , has been criticized after repeated purges @ @ @ @ @ @ @ the agency .
Soon after being confirmed by the U.S. Senate , Pack pushed out agency heads and board members , only to appoint those with direct ties to Trump .
Representatives for USAGM and Radio Free Europe/Radio Liberty did not return requests for comment .

Leaders of Radio Free Europe/Radio Liberty blasted the Trump-appointed CEO of the U.S. federal media agency.
In a letter obtained by CNBC, leaders within the network criticized Michael Pack, the head of the U.S. Agency for Global Media. Radio-Free Europe/Radio Liberty is considered a non-federal broadcasting network, but it is linked to the USAGM.
He has shaken up the ranks of the agency and its networks' leadership, installing fellow loyalists of President Donald Trump in key roles.
The letter includes criticism of Pack's board appointees, who later approved Ted Lipien to become the CEO of Radio Free Europe.
"Defying longstanding practice, you have appointed a board of inexperienced partisan appointees with no industry or regional expertise – a board you yourself referred to as a placeholder board, and yet one which you are now apparently seeking to entrench for two years or more," the letter reads.
"You have used this board to summarily approve Ted Lipien, an untested, unvetted candidate with a history of often one-sided writing about RFE/RL and other U.S. international broadcasters," it goes on to say.
The Associated Press reported that Lipien, a former Voice of America official, recently ran a blog post promoting the views of staffers objecting to what they saw as alleged liberal bias and a lack of conservative views in its programming. Voice of America falls under USAGM's purview.
The letter was signed by members of Radio Free Europe/Radio Liberty's news division and editorial board, including the editor in chief and heads of digital strategy. The letter is dated for Wednesday and was also sent to congressional leaders such as House Speaker Nancy Pelosi, D-Calif, and Senate Majority Leader Mitch McConnell, R-Ky.
Pack pushed back on the letter in a statement provided to CNBC.
"Ms. Sindelar's letter is filled with inaccuracies. There have been no attempts to 'compromise the [networks'] freedom from political influence.' On the contrary, all of the actions I have taken have been based on my congressionally mandated responsibility and commitment to fulfilling USAGM's mission," Pack said.
The letter points out that Pack will likely not keep his job after President-elect Joe Biden is sworn in. Still, the letter suggests that the newsroom leaders believe Pack is still moving ahead anyway with bringing in new leaders.
"We regard these actions as an eleventh-hour effort to secure a hold over RFE/RL for a single U.S. political party at a moment when your own tenure as CEO of U.S. foreign broadcasting is likely to end with the transition between administrations in Washington," the news leaders wrote.
Pack, who has been at the helm of USAGM since June, has been criticized after repeated purges of longtime leaders at various networks under the agency.
Soon after being confirmed by the U.S. Senate, Pack pushed out agency heads and board members, only to appoint those with direct ties to Trump.
Representatives for USAGM and Radio Free Europe/Radio Liberty did not return requests for comment.


cnbc--2020-12-30--Appeals court sends lawsuit over Trump financial records back to lower court

U.S. President Donald Trump arrives to speak about the administration 's coronavirus disease ( COVID-19 ) testing plan in the Rose Garden at the White House in Washington , September 28 , 2020 .
A federal appeals court Wednesday kicked a legal battle over President Donald Trump 's financial statements back to a lower court , delaying House Democrats ' efforts to obtain years of the president 's personal and business records .
In its ruling , a panel of three judges for the U.S. Court of Appeals for the D.C .
Circuit vacated a district court judgment and aligned @ @ @ @ @ @ @ the summer that ordered lower courts to more carefully consider questions about the separation of powers in the case .
Two of those appellate judges were appointed by Democratic presidents , and one was appointed by Trump .
The House Oversight and Reform Committee in 2019 issued a subpoena for eight years ' worth of Trump 's records from the accounting firm Mazars USA .
The committee 's Democratic majority said it sought the records as part of its legislative and oversight duties and as part of ongoing investigations .
Trump 's lawyers @ @ @ @ @ @ @ the records , arguing that Congress was engaged in a fishing expedition to hurt him politically .
A U.S. district court judge and a federal appeals panel upheld the subpoena .
But the Supreme Court in July raised concerns about the separation of powers between the legislative and executive branches of government .
In their brief ruling Wednesday , the appellate judges noted that they `` express no view as to whether this case will become moot when the subpoena expires or as to the merits of the parties ' arguments . ''
@ @ @ @ @ @ @ Maloney , D-N.Y. , intends to reissue the subpoena to Mazars at the start of the next Congress .
`` It remains critically important that the Oversight Committee — and the House more broadly — be able to secure prompt subpoena enforcement without the risk that investigative subjects will thwart its efforts through litigation delay , '' counsel for the committee told the appeals court earlier in December .
A spokeswoman for the committee and the White House did not immediately respond to CNBC 's request for comment on the appeals court 's @ @

U.S. President Donald Trump arrives to speak about the administration's coronavirus disease (COVID-19) testing plan in the Rose Garden at the White House in Washington, September 28, 2020.
A federal appeals court Wednesday kicked a legal battle over President Donald Trump's financial statements back to a lower court, delaying House Democrats' efforts to obtain years of the president's personal and business records.
In its ruling, a panel of three judges for the U.S. Court of Appeals for the D.C. Circuit vacated a district court judgment and aligned itself with a Supreme Court ruling over the summer that ordered lower courts to more carefully consider questions about the separation of powers in the case.
Two of those appellate judges were appointed by Democratic presidents, and one was appointed by Trump.
The House Oversight and Reform Committee in 2019 issued a subpoena for eight years' worth of Trump's records from the accounting firm Mazars USA. The committee's Democratic majority said it sought the records as part of its legislative and oversight duties and as part of ongoing investigations.
Trump's lawyers have sought to block the release of the records, arguing that Congress was engaged in a fishing expedition to hurt him politically.
A U.S. district court judge and a federal appeals panel upheld the subpoena. But the Supreme Court in July raised concerns about the separation of powers between the legislative and executive branches of government.
In their brief ruling Wednesday, the appellate judges noted that they "express no view as to whether this case will become moot when the subpoena expires or as to the merits of the parties' arguments."
The Oversight panel said that Chairwoman Carolyn Maloney, D-N.Y., intends to reissue the subpoena to Mazars at the start of the next Congress.
"It remains critically important that the Oversight Committee — and the House more broadly — be able to secure prompt subpoena enforcement without the risk that investigative subjects will thwart its efforts through litigation delay," counsel for the committee told the appeals court earlier in December.
A spokeswoman for the committee and the White House did not immediately respond to CNBC's request for comment on the appeals court's judgment.


cnbc--2020-12-30--$600 stimulus payments have started going out, Treasury Secretary Mnuchin says

Treasury Secretary Steven Mnuchin answers questions during a House Financial Services Committee hearing on `` Oversight of the Treasury Department 's and Federal Reserve 's Pandemic Response '' in the Rayburn House Office Building in Washington , December 2 , 2020 .
WASHINGTON — The Trump administration began sending stimulus payments of up to $ 600 to millions of Americans as part of the recently passed Covid relief bill , the second such direct payment to Americans amid historic unemployment and business closures .
In a pair of tweets Tuesday evening , Treasury Secretary Steven Mnuchin said payments `` may @ @ @ @ @ @ @ direct deposit as early as tonight . ''
He also said the government would begin mailing out paper checks on Wednesday for individuals without government-registered bank accounts .
`` These payments are an integral part of our commitment to providing vital additional economic relief to the American people during this unprecedented time , '' Mnuchin said in an emailed statement .
The second round of payments will be distributed automatically in the following breakdown : up to $ 600 for eligible individuals , $ 1,200 for couples filing jointly and up to $ @ @ @ @ @ @ @ the first round of payments in March , the amounts begin to taper off after certain income levels .


cnbc--2020-12-31--$2,000 stimulus checks likely doomed after McConnell refuses to separate them from unrelated Trump d


cnbc--2020-12-31--McConnell refuses to budge on $2,000 stimulus checks as Schumer offers separate votes on other Trump

McConnell refuses to budge on $2,000 stimulus checks as Schumer offers separate votes on other Trump demands

Senate Minority Leader Chuck Schumer , Democrat from New York , holds a virtual meeting with Pete Buttigieg , former mayor of South Bend , not pictured , at the U.S. Capitol in Washington , D.C. , U.S. , on Wednesday , Dec. 30 , 2020 .
Senate Minority Leader Chuck Schumer said Thursday that Democrats would allow for votes limiting a liability shield for tech companies and establishing a commission to examine the 2020 election if the GOP agreed to hold a separate up-or-down vote on sending $ 2,000 checks to most Americans .
`` Just give us a @ @ @ @ @ @ @ we can vote on whatever right-wing conspiracy theory you like , '' the New York Democrat said on the Senate floor .
The remarks came shortly after a speech from Majority Leader Mitch McConnell , R-Ky. , who slammed the $ 2,000 direct payments as `` socialism for the rich . ''
McConnell has refused to hold a separate vote on the stimulus payments , instead tying them legislation that would repeal Section 230 and create a commission to study alleged issues with the presidential election .
President Donald Trump demanded that Congress @ @ @ @ @ @ @ he agreed to sign a $ 900 billion Covid-19 relief package on Sunday .
Section 230 of the Communications Decency Act , which shields internet platforms from liability for user-created content , has long been criticized by conservatives who have sparred with companies like Facebook and Twitter over unrelated issues .

Senate Minority Leader Chuck Schumer, Democrat from New York, holds a virtual meeting with Pete Buttigieg, former mayor of South Bend, not pictured, at the U.S. Capitol in Washington, D.C., U.S., on Wednesday, Dec. 30, 2020. Ting Shen | Bloomberg | Getty Images
Senate Minority Leader Chuck Schumer said Thursday that Democrats would allow for votes limiting a liability shield for tech companies and establishing a commission to examine the 2020 election if Republicans agreed to hold a separate up-or-down vote on sending $2,000 checks to most Americans. "Just give us a vote on the House-passed bill, and we can vote on whatever right-wing conspiracy theory you like," the New York Democrat said on the Senate floor. The remarks came shortly after a speech from Majority Leader Mitch McConnell, R-Ky., who slammed the $2,000 direct payments as "socialism for the rich." McConnell has refused to hold a separate vote on the stimulus payments, instead tying them legislation that would repeal Section 230 and create a commission to study alleged issues with the presidential election. President Donald Trump demanded that Congress move forward with all three issues when he agreed to sign a $900 billion Covid-19 relief package on Sunday. Section 230 of the Communications Decency Act, which shields internet platforms from liability for user-created content, has long been criticized by conservatives who have sparred with companies like Facebook and Twitter over unrelated issues.
watch now
Schumer said that by tying the three issues together, McConnell had "invented an excuse" to avoid passing legislation authorizing the increased stimulus payments. Trump, Schumer said, had "made no such demand." "Let's be very clear: There is one way, and only one way, to pass $2,000 checks before the end of the year. And that's to pass the House bill. It's the only way to get the American people the checks they need and deserve," Schumer said. The Democratic-led House of Representatives approved legislation on Monday authorizing the $2,000 checks, increasing by $1,400 the $600 payments that were called for in the $900 billion package Trump signed. Americans have already started receiving the $600 checks. On Tuesday, McConnell blocked Schumer's first attempt to pass the House legislation in the Senate via unanimous consent. Schumer again attempted to do so on Thursday, and McConnell again scuttled the effort. In his own speech on Thursday, McConnell said that the recession inflicted by the Covid-19 pandemic had affected rich and poor Americans differently.
watch now
"The data show that many upper-middle-class Americans have kept their jobs, worked remotely, and remained totally financially comfortable," McConnell said. "We do not need to let the speaker of the House do socialism for rich people." Those on the left have argued that the direct payments can provide financial lifelines more quickly than more narrowly targeted relief, particularly given delays associated with state-administered unemployment insurance programs. The push for the increased payments has divided Republicans, including by positioning the outgoing president against the top Republican in Congress. Sen. Marco Rubio, R-Fla., also made waves by coming out in support of the $2,000 direct payments. The fighting has spilled into the crucial runoffs taking place in Georgia, which will determine which party controls the Senate. The two Democratic candidates, Jon Ossoff and Raphael Warnock, immediately seized on the development, and both of their GOP rivals — Sens. Kelly Loeffler and David Perdue — ultimately expressed support for the payment. President-elect Joe Biden has also voiced support for the $2,000 direct payments, and has said he will provide more details on his plan for additional relief legislation early next year. He will be inaugurated on Jan. 20. Subscribe to CNBC Pro for the TV livestream, deep insights and analysis on how to invest during the next presidential term.


cnbc--2020-12-31--Trump budget chief refuses to direct staff to help with Biden spending plans

Office of Management and Budget ( OMB ) Acting Director Russell Vought speaks with reporters during a press briefing at the White House in Washington , U.S. , March 11 , 2019 .
The head of the White House budget office on Thursday refused to direct staff and resources to help with the incoming Biden administration 's spending plans , in an escalating dispute over what the office 's responsibilities are during the transition process .
Office of Management and Budget Director Russ Vought pushed back on accusations of obstruction raised by President-elect Joe Biden 's transition team , adding @ @ @ @ @ @ @ alleged efforts to `` dismantle '' Trump administration policies .
`` Our system of government has one President and one Administration at a time , '' Vought said in a letter to Biden 's transition chief , Ted Kaufman .
The letter from Vought , shared publicly on his Twitter account , turns up the heat in the simmering dispute between President Donald Trump 's administration and the incoming Biden team .
Biden spokesman Andrew Bates in a statement called it `` indefensible , '' in the midst of a time of economic @ @ @ @ @ @ @ States government 's ability to prepare a budget and efficiently deliver help to those who need it most , particularly out of explicit , declared partisanship . ''
`` The final two paragraphs of this letter both affirm exactly what the transition said yesterday , while contradicting the letter 's opening with an overtly political admission of what is truly taking place -- which flies in the face of how OMB has operated during every presidential transition for decades , '' Bates said .
`` The President-elect will continue to work in good @ @ @ @ @ @ @ this emergency as quickly as possible .
There is one responsible course of action . ''
Biden in a speech Monday singled out the political leaders of the OMB and the Department of Defense for setting up `` roadblocks '' that hinder his efforts to prepare for the presidency .
`` Right now , we just are n't getting all the information that we need from the outgoing administration in key national security areas , '' Biden said at the time .
`` It 's nothing short , in my view , of @ @ @ @ @ @ @ Miller responded later that day , saying in a statement that the Pentagon 's efforts `` already surpass those of recent administrations with over three weeks to go . ''
In a virtual briefing Wednesday , incoming White House press secretary Jen Psaki and Biden advisor Yohannes Abraham again criticized those agencies .
`` There 's no question that the process will be delayed by what we 've encountered by the outgoing OMB , '' Abraham said .
`` The production of the budget takes many person hours , and it takes the @ @ @ @ @ @ @ of OMB 's engagement with prior transitions that we have not been in receipt of . ''
Historically , the OMB provides economic and budget-related information to incoming administrations well before inauguration day in order to prepare them to quickly submit the new president 's budget .
The document is technically due the first Monday in February , but has been delayed in the past .
Bloomberg , citing people familiar with the matter , reported earlier Thursday that Vought is blocking Biden team members from meeting with budget officials as he aims @ @ @ @ @ @ @ the Trump administration comes to an end .
In his letter to Kaufman , Vought said the record shows `` OMB has fully participated in appropriate transition efforts . ''
Vought said that the budget agency has held more than 45 meetings with Biden staff and has `` provided all information requested '' about ongoing programs .
He also said that Biden 's team has been briefed on the Trump administration 's coronavirus relief efforts , including Operation Warp Speed , the White House 's vaccine development and distribution plan .
`` What @ @ @ @ @ @ @ do is use current OMB staff to write the [ Biden transition team 's ] legislative policy proposals to dismantle this Administration 's work , '' Vought 's letter said .
`` OMB staff are working on this Administration 's policies and will do so until this Administration 's final day in office .
Redirecting staff and resources to draft your team 's budget proposals is not an OMB transition responsibility . ''
Vought added : `` OMB will not participate in developing policies that will weaken border security , dismantle the President @ @ @ @ @ @ @ that will bankrupt America . ''

Office of Management and Budget (OMB) Acting Director Russell Vought speaks with reporters during a press briefing at the White House in Washington, U.S., March 11, 2019.
The head of the White House budget office on Thursday refused to direct staff and resources to help with the incoming Biden administration's spending plans, in an escalating dispute over what the office's responsibilities are during the transition process.
Office of Management and Budget Director Russ Vought pushed back on accusations of obstruction raised by President-elect Joe Biden's transition team, adding that his agency will not cooperate with alleged efforts to "dismantle" Trump administration policies.
"Our system of government has one President and one Administration at a time," Vought said in a letter to Biden's transition chief, Ted Kaufman.
The letter from Vought, shared publicly on his Twitter account, turns up the heat in the simmering dispute between President Donald Trump's administration and the incoming Biden team.
Biden spokesman Andrew Bates in a statement called it "indefensible," in the midst of a time of economic hardship, "to hamstring the United States government's ability to prepare a budget and efficiently deliver help to those who need it most, particularly out of explicit, declared partisanship."
"The final two paragraphs of this letter both affirm exactly what the transition said yesterday, while contradicting the letter's opening with an overtly political admission of what is truly taking place -- which flies in the face of how OMB has operated during every presidential transition for decades," Bates said. "The President-elect will continue to work in good faith to lift our country out of this emergency as quickly as possible. There is one responsible course of action."
Biden in a speech Monday singled out the political leaders of the OMB and the Department of Defense for setting up "roadblocks" that hinder his efforts to prepare for the presidency.
"Right now, we just aren't getting all the information that we need from the outgoing administration in key national security areas," Biden said at the time. "It's nothing short, in my view, of irresponsibility."
Acting Defense chief Christopher Miller responded later that day, saying in a statement that the Pentagon's efforts "already surpass those of recent administrations with over three weeks to go."
In a virtual briefing Wednesday, incoming White House press secretary Jen Psaki and Biden advisor Yohannes Abraham again criticized those agencies.
"There's no question that the process will be delayed by what we've encountered by the outgoing OMB," Abraham said. "The production of the budget takes many person hours, and it takes the analytical support that has been a part of OMB's engagement with prior transitions that we have not been in receipt of."
Historically, the OMB provides economic and budget-related information to incoming administrations well before inauguration day in order to prepare them to quickly submit the new president's budget. The document is technically due the first Monday in February, but has been delayed in the past.
Bloomberg, citing people familiar with the matter, reported earlier Thursday that Vought is blocking Biden team members from meeting with budget officials as he aims to finalize and publish new regulations before the Trump administration comes to an end.
In his letter to Kaufman, Vought said the record shows "OMB has fully participated in appropriate transition efforts."
Vought said that the budget agency has held more than 45 meetings with Biden staff and has "provided all information requested" about ongoing programs. He also said that Biden's team has been briefed on the Trump administration's coronavirus relief efforts, including Operation Warp Speed, the White House's vaccine development and distribution plan.
"What we have not done and will not do is use current OMB staff to write the [Biden transition team's] legislative policy proposals to dismantle this Administration's work," Vought's letter said.
"OMB staff are working on this Administration's policies and will do so until this Administration's final day in office. Redirecting staff and resources to draft your team's budget proposals is not an OMB transition responsibility."
Vought added: "OMB will not participate in developing policies that will weaken border security, dismantle the President's deregulatory successes, and draft budgets that will bankrupt America."


cnbc--2020-12-31--Sen. David Perdue quarantines after contact with someone infected with Covid, days before Georgia ru

Sen. David Perdue quarantines after contact with someone infected with Covid, days before Georgia runoff

Sen. David Perdue of Georgia entered quarantine after contact with someone who tested positive for Covid-19 , his campaign said Thursday , less than a week before the Republican 's runoff election against Democrat Jon Ossoff .
Perdue and his wife Bonnie have tested negative for the coronavirus , according to his campaign , which did not say how long the 71-year-old incumbent senator would remain in quarantine .
His contest against Ossoff is one of two runoffs in Georgia on Tuesday that will determine whether Republicans or Democrats have majority control over the U.S. Senate starting next month .
@ @ @ @ @ @ @ Kelly Loeffler , Perdue 's fellow Republican , faces Democrat Rev .
Raphael Warnock .
Recent polling suggests tight races in each runoff .
Perdue had been scheduled to appear with Loeffler at a New Year 's Eve campaign rally and concert in Gainesville on Thursday afternoon .
Guidelines issued by the federal Centers for Disease Control and Prevention call for people exposed to someone with Covid to stay home for 14 days after their last contact with an infected person .
`` This morning , Senator Perdue was notified that he came @ @ @ @ @ @ @ campaign who tested positive for COVID-19 , '' Perdue 's campaign said in a statement .
`` Both Senator Perdue and his wife tested negative today , but following his doctor 's recommendations and in accordance with CDC guidelines , they will quarantine , '' the campaign said .
`` The Senator and his wife have been tested regularly throughout the campaign , and the team will continue to follow CDC guidelines .
Further information will be provided when available . ''
Ossoff later tweeted , `` I hope David , Bonnie , @ @ @ @ @ @ @ and COVID-negative . ''
Loeffler self-quarantined earlier in the race after receiving inconclusive Covid test results on Nov. 21 .
She did not test positive for the virus .

Sen. David Perdue of Georgia entered quarantine after contact with someone who tested positive for Covid-19, his campaign said Thursday, less than a week before the Republican's runoff election against Democrat Jon Ossoff.
Perdue and his wife Bonnie have tested negative for the coronavirus, according to his campaign, which did not say how long the 71-year-old incumbent senator would remain in quarantine.
His contest against Ossoff is one of two runoffs in Georgia on Tuesday that will determine whether Republicans or Democrats have majority control over the U.S. Senate starting next month.
In the other race, incumbent Sen. Kelly Loeffler, Perdue's fellow Republican, faces Democrat Rev. Raphael Warnock. Recent polling suggests tight races in each runoff.
Perdue had been scheduled to appear with Loeffler at a New Year's Eve campaign rally and concert in Gainesville on Thursday afternoon.
Guidelines issued by the federal Centers for Disease Control and Prevention call for people exposed to someone with Covid to stay home for 14 days after their last contact with an infected person.
"This morning, Senator Perdue was notified that he came into close contact with someone on the campaign who tested positive for COVID-19," Perdue's campaign said in a statement.
"Both Senator Perdue and his wife tested negative today, but following his doctor's recommendations and in accordance with CDC guidelines, they will quarantine," the campaign said.
"The Senator and his wife have been tested regularly throughout the campaign, and the team will continue to follow CDC guidelines. Further information will be provided when available."
Ossoff later tweeted, "I hope David, Bonnie, the campaign staff and supporters remain healthy and COVID-negative."
Loeffler self-quarantined earlier in the race after receiving inconclusive Covid test results on Nov. 21. She did not test positive for the virus.


cnbc--2020-12-31--Trump boasts about his Covid response after largely ignoring crisis during deadliest month yet

WASHINGTON — In the final days of 2020 , the United States saw coronavirus deaths spike , cases surge to staggering levels , hospitals strained and the rollout of desperately needed vaccines fall short of expectations .
December was the deadliest month for America during the pandemic .
Yet President Donald Trump barely uttered a word about Covid-19 's tragic toll .
Instead , the president spent the month obsessing over unfounded claims of a stolen election , delaying relief legislation before signing it , weighing in on cable news broadcasts and lashing out at members of his own party @ @ @ @ @ @ @ last day of the month and the year , Trump tweeted a video in which he boasted about his administration 's response to the pandemic .
During December , the country plunged into what would become its toughest battle against Covid-19 , even as vaccines started to go out .
The nation reported more than 6.1 million new infections and more than 74,140 deaths , according to data compiled by Johns Hopkins University .
The latest totals make December the deadliest month of the Covid-19 pandemic in the United States , surpassing April @ @ @ @ @ @ @ their lives to the coronavirus .
Since the start of the coronavirus outbreak , at least 342,414 Americans have died because of the disease , which Trump has repeatedly pledged on 40 different occasions would go away .
In a recorded message released Thursday , Trump took the lion 's share of the credit for the unprecedented speed in the development of vaccines calling the feat a `` medical miracle . ''
`` Thanks to Operation Warp Speed we developed a vaccine in just nine months , we 've already begun a nationwide @ @ @ @ @ @ @ the vaccine all over the world .
The world will benefit we 'll benefit , and everybody 's calling to thank me , '' the president said .
Trump also took a moment to praise his work on the economy , saying that his administration `` built the greatest economy in the history of the world . ''
`` We 're doing numbers now like nobody 's ever seen before , including having the highest stock market in the history of the world , '' Trump said , adding `` the best is @ @ @ @ @ @ @ off .
The White House did not immediately respond to a request for comment .
Trump , who spent the past week vacationing at his private club in Palm Beach , Florida , returned to the White House on Thursday as lawmakers debated legislation that would increase Covid relief payments to $ 2,000 amid historic unemployment and business closures .
The president himself pushed for these higher payments , although the Republican leader in the Senate , Mitch McConnell , has resisted holding a standalone vote on the bill providing for the higher @ @ @ @ @ @ @ in the House .
While in Palm Beach , Trump spent several days golfing at his for-profit golf course and sent 110 tweets which were largely focused on false claims of a rigged presidential election and the upcoming Senate runoff votes in Georgia .
Trump , despite a slew of failed legal challenges , has not conceded the election to Democrat Joe Biden , who will be inaugurated Jan. 20 .
The president also took to Twitter to garner support for an upcoming rally in Georgia .
Officials from the Centers for Disease @ @ @ @ @ @ @ the new strain could add pressure to the nation 's hospitals , which are already overwhelmed with Covid-19 patients .
Staff-strapped hospitals from coast to coast are already running out of available intensive-care units and standard beds for the surge in patients , data published by the Department of Health and Human Services shows .

President Donald Trump speaking in a released video on Twitter on Dec. 31st, 2020. The White House | Twitter
WASHINGTON — In the final days of 2020, the United States saw coronavirus deaths spike, cases surge to staggering levels, hospitals strained and the rollout of desperately needed vaccines fall short of expectations. December was the deadliest month for America during the pandemic. Yet President Donald Trump barely uttered a word about Covid-19's tragic toll. Instead, the president spent the month obsessing over unfounded claims of a stolen election, delaying relief legislation before signing it, weighing in on cable news broadcasts and lashing out at members of his own party. And, on Thursday, the last day of the month and the year, Trump tweeted a video in which he boasted about his administration's response to the pandemic. During December, the country plunged into what would become its toughest battle against Covid-19, even as vaccines started to go out. The nation reported more than 6.1 million new infections and more than 74,140 deaths, according to data compiled by Johns Hopkins University. The latest totals make December the deadliest month of the Covid-19 pandemic in the United States, surpassing April, when more than 60,738 Americans lost their lives to the coronavirus.
Zoom In Icon Arrows pointing outwards
Since the start of the coronavirus outbreak, at least 342,414 Americans have died because of the disease, which Trump has repeatedly pledged on 40 different occasions would go away. In a recorded message released Thursday, Trump took the lion's share of the credit for the unprecedented speed in the development of vaccines calling the feat a "medical miracle." "Thanks to Operation Warp Speed we developed a vaccine in just nine months, we've already begun a nationwide vaccination program, and we're sending the vaccine all over the world. The world will benefit we'll benefit, and everybody's calling to thank me," the president said. Trump also took a moment to praise his work on the economy, saying that his administration "built the greatest economy in the history of the world." "We're doing numbers now like nobody's ever seen before, including having the highest stock market in the history of the world," Trump said, adding "the best is yet to come" in his signoff. The White House did not immediately respond to a request for comment.
Tweets and golfing
Trump, who spent the past week vacationing at his private club in Palm Beach, Florida, returned to the White House on Thursday as lawmakers debated legislation that would increase Covid relief payments to $2,000 amid historic unemployment and business closures. The president himself pushed for these higher payments, although the Republican leader in the Senate, Mitch McConnell, has resisted holding a stand-alone vote on the bill providing for the higher payments, which passed with bipartisan support in the House. While in Palm Beach, Trump spent several days golfing at his for-profit golf course and sent 110 tweets which were largely focused on false claims of a rigged presidential election and the upcoming Senate runoff votes in Georgia. Trump, despite a slew of failed legal challenges, has not conceded the election to Democrat Joe Biden, who will be inaugurated Jan. 20. The president also took to Twitter to garner support for an upcoming rally in Georgia.
President Donald Trump golfs at Trump National Golf Club on November 21, 2020 in Sterling, Virginia. Tasos Katopodis | Getty Images
The president's refusal to address other aspects of the unfolding public health disaster comes as the governors of Colorado and California confirm a new and potentially more infectious strain of Covid-19 in their states.
Hospital struggles and vaccine stumbles
Officials from the Centers for Disease Control and Prevention said Wednesday that the new strain could add pressure to the nation's hospitals, which are already overwhelmed with Covid-19 patients. Staff-strapped hospitals from coast to coast are already running out of available intensive care units and standard beds for the surge in patients, data published by the Department of Health and Human Services shows.
Medical staff members prepare to perform a percutaneous tracheostomy procedure on a patient in the COVID-19 intensive care unit (ICU) during Thanksgiving at the United Memorial Medical Center on November 26, 2020 in Houston, Texas. Go Nakamura | Getty Images


cnbc--2020-12-31--Lobbyist brother of Biden advisor has reputation for deep connections and looking to avoid possible

Lobbyist brother of Biden advisor has reputation for deep connections and looking to avoid possible conflicts

U.S. President-elect Joe Biden leaves after delivering a speech at his transition headquarters in Wilmington , Delaware , December 28 , 2020 .
The lobbyist brother of one of President-elect Joe Biden 's top advisors has cultivated a reputation for his deep connections in D.C. and for his decades of delivering results for corporate clients .
Some past associates and clients of Jeff Ricchetti also say he has rejected requests to lobby his brother , longtime Biden aide and incoming White House counselor Steve Ricchetti .
CNBC spoke with several people who have worked with Jeff Ricchetti , seeking insight @ @ @ @ @ @ @ new year looking to influence lawmakers .
These discussions also offer a glimpse into how Jeff Ricchetti could handle and , possibly avoid , potential conflicts of interest during the incoming administration .
CNBC reached out to Ricchetti on Wednesday .
He did not return a request to comment for this story .
A spokesman for the Biden transition team also did not return a request for comment .
In 2020 , Jeff Ricchetti had his biggest batch of clients since 2014 , according to the nonpartisan Center for Responsive Politics .
The @ @ @ @ @ @ @ the Democratic primary and eventually defeated President Donald Trump in the general election .
Biden later named Steve Ricchetti , who was also the former vice president 's campaign chairman , as his White House counselor .
Jeff Ricchetti , meanwhile , secured almost a dozen contracts this year and reaped at least $ 635,000 in lobbying fees .
Amazon is one of his newest clients , as CNBC first reported .
Others include Horizon Therapeutics , Evofem Biosciences , Finseca , GlaxoSmithKline and Applied Materials .
People who know Jeff Ricchetti say @ @ @ @ @ @ @ to his brother .
Yet his associates also noted that clients will still likely seek inroads with the Biden team .
`` That does n't mean potential clients wo n't seek him out in part because of his brother , '' said a fellow lobbyist who has known Jeff Ricchetti for nearly a decade .
`` But he is a pro and knows how to operate appropriately . ''
This person declined to be named in order to speak freely .
A person familiar with the brothers ' relationship previously told CNBC that @ @ @ @ @ @ @ and that the two keep their professional lives separate .
Before opening his firm , Ricchetti Inc. , Jeff Ricchetti worked with Tony Podesta in the late 1990s .
Steve and Jeff Ricchetti founded their namesake firm in the early 2000s .
Podesta told CNBC in an email that Jeff Ricchetti was recognized as a talented and strategic lobbyist when he worked there for a few years .
Podesta , the brother of former Clinton White House chief of staff John Podesta , was once known as a Democratic Party kingmaker and a @ @ @ @ @ @ @ worked in the Clinton administration and later with Biden during President Barack Obama 's tenure as president .
Steve Ricchetti deregistered as a lobbyist in 2008 .
`` He gets things done , '' Podesta said .
`` Very talented , hard working , strategic , easy going , substantive . ''
Records show that as a lobbyist for Podesta 's firm , Ricchetti represented corporations such as Dow Chemical , Eli Lilly , Novartis , eBay and Roche Holdings .
Marc Cadin , CEO of the professional association Finseca , told CNBC @ @ @ @ @ @ @ years .
One of the bills that Ricchetti and other members of Cadin 's team lobbied Congress on was Trump 's 2017 tax reform bill .
`` The most notable is a 199A deduction , which we got applied to life insurance businesses so that our members got a meaningful tax break there , '' Cadin said in discussing Ricchetti 's recent efforts for Finseca , which has over 6,000 members .
The IRS calls that deduction a qualified business income deduction .
`` The deduction allows eligible taxpayers to deduct up to @ @ @ @ @ @ @ , plus 20 percent of qualified real estate investment trust dividends and qualified publicly traded partnership income , '' the IRS website says .
Cadin , who described Ricchetti as a lobbyist with extensive expertise on tax policy , said he expects him to lobby the new Congress , and possibly the Treasury Department , for Finseca starting in 2021 .
`` We have some issues in and around the Treasury Department .
I can see him engaging there , '' Cadin said .
He also said that in his experience , the @ @ @ @ @ @ @ not to raise ethical issues .
`` Those guys know how to do it right and they know how to not cross lines , '' he said .
Some of Jeff Ricchetti 's most recent clients hired him to secure support from moderate lawmakers on progressive tax policy proposals .
Biden has proposed raising taxes on the wealthy and corporations .
Chuck Collins , an advisory board member of the Patriotic Millionaires advocacy group , told CNBC that his organization hired Ricchetti in 2020 to pick up support from moderate Democrats in both @ @ @ @ @ @ @ group 's website calls an `` emergency charity stimulus bill . ''
In an open letter to congressional leaders including House Speaker Nancy Pelosi , D-Calif. , and Senate Minority Leader Chuck Schumer , D-N.Y. , the group called on Congress to include emergency charitable stimulus legislation in a coronavirus relief package .
The letter said the legislation would double `` mandated annual foundation payout over the next three years , from five percent to ten percent , and to mandate the same ten percent payout requirement for Donor Advised Funds ( DAFs @ @ @ @ @ @ @ charity bill was run by the Patriotic Millionaires , Wallace Global Foundation , Voices for Progress , Institute for Policy Studies — Inequality Program , Solidaire Network , and Edge Funders Network .
Collins , great-grandson of meatpacker Oscar Mayer , told CNBC he has known Ricchetti for over a decade .
The group chose him for the project , Collins said , not because of ties to his brother , but instead for his deep insight into both current and former policymakers in Washington .
`` I think he has a good @ @ @ @ @ @ @ obstacles you 're going to encounter and whether to waste your time , '' Collins said .
A spokesman for the Patriotic Millionaires did not return a request for comment .
Frank Clemente , executive director of the Americans for Tax Fairness , a project of a progressive nonprofit called the New Venture Fund , said the organization hired Ricchetti in late 2019 to help push a `` millionaires ' surtax . ''
Similar to his effort for the Patriotic Millionaires , Clemente said Ricchetti targeted moderate Democrats in the House .
`` @ @ @ @ @ @ @ did n't have to the table .
He brings connections , '' Clemente said .
The Americans for Tax Fairness website promotes the additional tax as a `` 10 % surtax on incomes over $ 2 million could raise $ 635 billion over 10 years . ''
Sen. Chris Van Hollen , D-Md.
, and Rep. Don Beyer , D-Va. , introduced the proposal in Congress in Nov. 2019 .
Democrats running for president , including billionaire Mike Bloomberg , and Sen. Elizabeth Warren D-Mass.
, also backed similar concepts .
As Biden @ @ @ @ @ @ @ he tried to get Ricchetti to push the Biden campaign to endorse the surtax , but the longtime lobbyist declined .
`` I think I may have asked him , 'Can you help me with your brother ? '
but it was always very clear — that was never a place to go , '' Clemente said .

U.S. President-elect Joe Biden leaves after delivering a speech at his transition headquarters in Wilmington, Delaware, December 28, 2020.
The lobbyist brother of one of President-elect Joe Biden's top advisors has cultivated a reputation for his deep connections in D.C. and for his decades of delivering results for corporate clients.
Some past associates and clients of Jeff Ricchetti also say he has rejected requests to lobby his brother, longtime Biden aide and incoming White House counselor Steve Ricchetti.
CNBC spoke with several people who have worked with Jeff Ricchetti, seeking insight into how he may go into the new year looking to influence lawmakers.
These discussions also offer a glimpse into how Jeff Ricchetti could handle and, possibly avoid, potential conflicts of interest during the incoming administration.
CNBC reached out to Ricchetti on Wednesday. He did not return a request to comment for this story. A spokesman for the Biden transition team also did not return a request for comment.
In 2020, Jeff Ricchetti had his biggest batch of clients since 2014, according to the nonpartisan Center for Responsive Politics. The surge in clients came as Biden won the Democratic primary and eventually defeated President Donald Trump in the general election.
Biden later named Steve Ricchetti, who was also the former vice president's campaign chairman, as his White House counselor. Jeff Ricchetti, meanwhile, secured almost a dozen contracts this year and reaped at least $635,000 in lobbying fees. Amazon is one of his newest clients, as CNBC first reported. Others include Horizon Therapeutics, Evofem Biosciences, Finseca, GlaxoSmithKline and Applied Materials.
People who know Jeff Ricchetti say he pushes back on clients seeking access to his brother. Yet his associates also noted that clients will still likely seek inroads with the Biden team.
"That doesn't mean potential clients won't seek him out in part because of his brother," said a fellow lobbyist who has known Jeff Ricchetti for nearly a decade. "But he is a pro and knows how to operate appropriately." This person declined to be named in order to speak freely.
A person familiar with the brothers' relationship previously told CNBC that Jeff Ricchetti would never lobby Steve Ricchetti and that the two keep their professional lives separate.
Before opening his firm, Ricchetti Inc., Jeff Ricchetti worked with Tony Podesta in the late 1990s. Steve and Jeff Ricchetti founded their namesake firm in the early 2000s.
Podesta told CNBC in an email that Jeff Ricchetti was recognized as a talented and strategic lobbyist when he worked there for a few years. Podesta, the brother of former Clinton White House chief of staff John Podesta, was once known as a Democratic Party kingmaker and a major corporate lobbyist. Steve Ricchetti also worked in the Clinton administration and later with Biden during President Barack Obama's tenure as president. Steve Ricchetti deregistered as a lobbyist in 2008.
"He gets things done," Podesta said. "Very talented, hard working, strategic, easy going, substantive." Records show that as a lobbyist for Podesta's firm, Ricchetti represented corporations such as Dow Chemical, Eli Lilly, Novartis, eBay and Roche Holdings.
Marc Cadin, CEO of the professional association Finseca, told CNBC he has known Ricchetti for almost 20 years. One of the bills that Ricchetti and other members of Cadin's team lobbied Congress on was Trump's 2017 tax reform bill.
"The most notable is a 199A deduction, which we got applied to life insurance businesses so that our members got a meaningful tax break there," Cadin said in discussing Ricchetti's recent efforts for Finseca, which has over 6,000 members.
The IRS calls that deduction a qualified business income deduction. "The deduction allows eligible taxpayers to deduct up to 20 percent of their qualified business income, plus 20 percent of qualified real estate investment trust dividends and qualified publicly traded partnership income," the IRS website says.
Cadin, who described Ricchetti as a lobbyist with extensive expertise on tax policy, said he expects him to lobby the new Congress, and possibly the Treasury Department, for Finseca starting in 2021.
"We have some issues in and around the Treasury Department. I can see him engaging there," Cadin said.
He also said that in his experience, the Ricchetti brothers have always found a way not to raise ethical issues. "Those guys know how to do it right and they know how to not cross lines," he said.
Some of Jeff Ricchetti's most recent clients hired him to secure support from moderate lawmakers on progressive tax policy proposals. Biden has proposed raising taxes on the wealthy and corporations.
Chuck Collins, an advisory board member of the Patriotic Millionaires advocacy group, told CNBC that his organization hired Ricchetti in 2020 to pick up support from moderate Democrats in both the House and Senate for what the group's website calls an "emergency charity stimulus bill."
In an open letter to congressional leaders including House Speaker Nancy Pelosi, D-Calif., and Senate Minority Leader Chuck Schumer, D-N.Y., the group called on Congress to include emergency charitable stimulus legislation in a coronavirus relief package. The letter said the legislation would double "mandated annual foundation payout over the next three years, from five percent to ten percent, and to mandate the same ten percent payout requirement for Donor Advised Funds (DAFs)."
The campaign for the charity bill was run by the Patriotic Millionaires, Wallace Global Foundation, Voices for Progress, Institute for Policy Studies — Inequality Program, Solidaire Network, and Edge Funders Network.
Collins, great-grandson of meatpacker Oscar Mayer, told CNBC he has known Ricchetti for over a decade. The group chose him for the project, Collins said, not because of ties to his brother, but instead for his deep insight into both current and former policymakers in Washington.
"I think he has a good inner compass about what works and what obstacles you're going to encounter and whether to waste your time," Collins said.
A spokesman for the Patriotic Millionaires did not return a request for comment.
Frank Clemente, executive director of the Americans for Tax Fairness, a project of a progressive nonprofit called the New Venture Fund, said the organization hired Ricchetti in late 2019 to help push a "millionaires' surtax." Similar to his effort for the Patriotic Millionaires, Clemente said Ricchetti targeted moderate Democrats in the House.
"We just felt he brought something we didn't have to the table. He brings connections," Clemente said.
The Americans for Tax Fairness website promotes the additional tax as a "10% surtax on incomes over $2 million could raise $635 billion over 10 years." Sen. Chris Van Hollen, D-Md., and Rep. Don Beyer, D-Va., introduced the proposal in Congress in Nov. 2019. Democrats running for president, including billionaire Mike Bloomberg, and Sen. Elizabeth Warren D-Mass., also backed similar concepts.
As Biden ran for president, Clemente said, he tried to get Ricchetti to push the Biden campaign to endorse the surtax, but the longtime lobbyist declined.
"I think I may have asked him, 'Can you help me with your brother?' but it was always very clear — that was never a place to go," Clemente said.