cnbc--2020-11-02--Here's how a Biden or Trump presidency would affect your personal finances

President Donald Trump and Joe Biden , his Democratic opponent in next week 's election , have broadly diverging views on issues that would impact the personal finances of everyday Americans .
It 's no guarantee the candidates ' ideas and proposals will eventually become law .
Much hinges on the outcome of congressional races , for example .
But here are things to consider as voters head to the polls on Tuesday , on issues like taxes , Social Security , student loans and Medicare .
The Trump campaign said it would `` cut taxes to boost take-home pay @ @ @ @ @ @ @ It offers scarce details on how this would be accomplished .
Experts believe the president would try to build on the Tax Cuts and Jobs Act , viewed as his signature legislative achievement during his first term .
The law , enacted in 2017 , overhauled the tax code for individuals and businesses .
It roughly doubled the standard deduction and limited some itemized deductions ( like one for state and local taxes ) , among other things .
More from Personal Finance : Here 's a decade-by-decade guide to retirement planning What @ @ @ @ @ @ @ to student loan borrowers Older workers are struggling to find jobs On average , the law cut taxes for Americans across all income groups , according to a report published by the Joint Committee on Taxation last year .
The richest Americans pocketed most of the benefit .
About 76 % of the estimated $ 259 billion in taxpayers ' total savings in 2019 went to those making more than $ 100,000 a year , according to the report .
However , the bill 's tax cuts for individuals are temporary .
They @ @ @ @ @ @ @ revert back to prior law , effectively raising taxes .
The Trump administration would likely try to make these cuts permanent , tax experts said .
Doing so would raise after-tax income for all households , on average , delivering a 1.5 % increase , according to the Urban-Brookings Tax Policy Center .
The top 20 % of Americans ( making roughly $ 167,000 ) would get about two-thirds of the benefit .
Trump administration officials like economic advisor Larry Kudlow have also floated the idea of a tax cut for the middle @ @ @ @ @ @ @ taxes on capital gains ( the top tax rate of which is currently 20 % ) .
Biden , who was vice president during the Obama administration , has proposed raising taxes for wealthy Americans .
He would seek to reduce taxes for lower earners via mechanisms like a temporary expansion of the child tax credit .
The Biden campaign floated a top income-tax rate of 39.6 % ( up from 37 % ) for those earning more than $ 400,000 .
He would raise their payroll taxes , too .
The Biden @ @ @ @ @ @ @ itemized deductions ( write-offs for charitable donations and medical costs , for example ) for wealthy households making more than $ 400,000 .
Biden would also increase taxes on capital gains to 39.6 % for those making more than $ 1 million a year — almost double the current rate .
`` That 's mega , mega significant .
A lot of the ultra-high-net-worth people make a great deal of their income through investment income , '' said Jeffrey Levine , director of advanced planning at Buckingham Wealth Partners .
The top 20 @ @ @ @ @ @ @ $ 160,000 ) would be the only group to see a tax increase in 2022 , according to the Tax Policy Center .
Their tax liability would grow by 5 % , or $ 14,700 , in 2022 .
Meanwhile , Biden would boost the child tax credit to $ 3,000 for kids 17 and younger , plus a $ 600 bonus for children under 6 .
( The credit is currently $ 2,000 for kids under 17 . )
Biden would also make it fully refundable , meaning taxpayers would get a @ @ @ @ @ @ @ .
( Up to $ 1,400 is currently refundable for each child . )
The bottom 20 % of earners would see after-tax income grow by more than 5 % , or roughly $ 750 , in 2022 .
Some observers believe low and middle-income taxpayers could see negative indirect effects from Biden 's proposal to increase the corporate tax rate , via increased prices for consumer goods or stagnating wages for employees .
Biden 's plan calls for boosting Social Security checks for individuals in many ways .
For example , his @ @ @ @ @ @ @ who 've been receiving benefits for at least 20 years , to protect against depleted retirement savings .
It would also set a minimum benefit — at least 125 % of the poverty level — for those who 've worked at least 30 years .
Monthly survivor benefits for widows and widowers would grow by 20 % .
Biden would also seek to improve Social Security 's finances .
Earlier this year , the Social Security Administration projected the trust funds that help pay benefits would run out in 2035 .
At that @ @ @ @ @ @ @ benefits would be payable , funded exclusively by payroll taxes .
The unemployment crisis caused by the Covid-19 pandemic has sped up that timeline by a few years , according to some estimates .
Biden would impose Social Security payroll taxes on high earners to improve the program 's solvency .
Currently , workers pay 6.2 % from wages , capped at wages up to $ 137,700 ( which is indexed for inflation ) .
Biden would also apply taxes to earnings over $ 400,000 .
Trump 's campaign agenda says he would @ @ @ @ @ @ @ 's tweeted messages of support for Social Security on many occasions and said he would `` save '' the program .
The president signed an executive measure in August creating a Social Security payroll tax holiday , between Sept. 1 and Dec. 31 .
It 's a tax deferral , and workers would have to pay the tax back early next year .
Businesses had to opt in .
It only applied to workers making less than about $ 100,000 a year .
But Trump has floated forgiving that deferred tax .
`` @ @ @ @ @ @ @ , I plan to forgive these taxes and make permanent cuts to the payroll tax , '' Trump said .
A permanent payroll tax cut could deplete the Social Security trust funds by mid-2023 , according to Stephen Goss , Social Security 's chief actuary .
Biden has proposed forgiving $ 10,000 in student debt for all borrowers .
He would also forgive federal student debt tied to undergraduate tuition at public colleges and historically Black colleges and universities .
That would apply to borrowers earning less than $ 125,000 a year .
@ @ @ @ @ @ @ forgive student loans .
He 's called for eliminating public-service loan forgiveness , which allows certain not-for-profit and government employees to have federal student loans canceled after a decade of on-time payments .
Biden would keep that program but make changes , instead forgiving $ 10,000 a year of undergraduate or graduate student debt for up to five years .
The Trump administration has allowed borrowers to pause monthly student loan payments without interest accrual during the Covid-19 pandemic .
The U.S. Department of Education initially offered that moratorium in March , and @ @ @ @ @ @ @ the summer extending that pause through 2020 .
It 's unclear if that moratorium would be extended next year if Trump ( or Biden ) wins the election .
Trump has taken some steps to ease costs for Medicare beneficiaries and has proposed some changes to the senior health program .
For example , the president has moved to reduce drug costs , by lifting `` gag orders '' on pharmacists that prohibited them from telling patients there was a cheaper option for their prescriptions , for example .
He capped monthly insulin @ @ @ @ @ @ @ some Medicare beneficiaries .
Trump also wants to send $ 200 payment cards to some individuals on Medicare to help pay for drugs , he said in a speech last month .
The Trump administration is supporting a lawsuit seeking to overturn the Affordable Care Act .
That law , known as Obamacare , made some changes to Medicare .
For example , it added certain free preventive benefits to Medicare and eliminated , over several years , a spike in out-of-pocket spending on prescription drugs that some beneficiaries faced .
Biden has @ @ @ @ @ @ @ .
His plan would allow individuals to enroll in Medicare starting at age 60 instead of 65 .
The program would cover dental , vision and hearing , all of which are currently excluded .
Biden also wants to reduce the cost of prescription drugs for Medicare beneficiaries by , for example , allowing the government to negotiate those prices — which is currently prohibited by law .
He would prohibit most drug prices from rising faster than inflation .
His campaign also supports the Affordable Care Act .
— CNBC reporters Lorie @ @ @ @ @ @ @ and Sarah O'Brien contributed to this story .

Joe Biden, 2020 Democratic presidential nominee, right, and President Donald Trump during the presidential debate at Belmont University in Nashville, Tennessee, on Oct. 22, 2020. Kevin Dietsch/UPI/Bloomberg via Getty Images
President Donald Trump and Joe Biden, his Democratic opponent in next week's election, have broadly diverging views on issues that would impact the personal finances of everyday Americans. It's no guarantee the candidates' ideas and proposals will eventually become law. Much hinges on the outcome of congressional races, for example. But here are things to consider as voters head to the polls on Tuesday, on issues like taxes, Social Security, student loans and Medicare.
Taxes
The Trump campaign said it would "cut taxes to boost take-home pay and keep jobs in America." It offers scarce details on how this would be accomplished. Experts believe the president would try to build on the Tax Cuts and Jobs Act, viewed as his signature legislative achievement during his first term.
Zoom In Icon Arrows pointing outwards
Doing so would raise after-tax income for all households, on average, delivering a 1.5% increase, according to the Urban-Brookings Tax Policy Center. The top 20% of Americans (making roughly $167,000) would get about two-thirds of the benefit. Trump administration officials like economic advisor Larry Kudlow have also floated the idea of a tax cut for the middle class. Trump has also proposed cutting taxes on capital gains (the top tax rate of which is currently 20%). Biden, who was vice president during the Obama administration, has proposed raising taxes for wealthy Americans. He would seek to reduce taxes for lower earners via mechanisms like a temporary expansion of the child tax credit. The Biden campaign floated a top income-tax rate of 39.6% (up from 37%) for those earning more than $400,000. He would raise their payroll taxes, too.
watch now
The Biden plan would also limit the value of itemized deductions (write-offs for charitable donations and medical costs, for example) for wealthy households making more than $400,000. Biden would also increase taxes on capital gains to 39.6% for those making more than $1 million a year — almost double the current rate. "That's mega, mega significant. A lot of the ultra-high-net-worth people make a great deal of their income through investment income," said Jeffrey Levine, director of advanced planning at Buckingham Wealth Partners. The top 20% (those making more than roughly $160,000) would be the only group to see a tax increase in 2022, according to the Tax Policy Center. Their tax liability would grow by 5%, or $14,700, in 2022.
Zoom In Icon Arrows pointing outwards
Meanwhile, Biden would boost the child tax credit to $3,000 for kids 17 and younger, plus a $600 bonus for children under 6. (The credit is currently $2,000 for kids under 17.) Biden would also make it fully refundable, meaning taxpayers would get a refund even if they owe no tax. (Up to $1,400 is currently refundable for each child.) The bottom 20% of earners would see after-tax income grow by more than 5%, or roughly $750, in 2022. Some observers believe low and middle-income taxpayers could see negative indirect effects from Biden's proposal to increase the corporate tax rate, via increased prices for consumer goods or stagnating wages for employees.
Social Security
Biden's plan calls for boosting Social Security checks for individuals in many ways. For example, his proposal would raise monthly payments for seniors who've been receiving benefits for at least 20 years, to protect against depleted retirement savings. It would also set a minimum benefit — at least 125% of the poverty level — for those who've worked at least 30 years. Monthly survivor benefits for widows and widowers would grow by 20%. Biden would also seek to improve Social Security's finances. Earlier this year, the Social Security Administration projected the trust funds that help pay benefits would run out in 2035. At that time, around 79% of promised benefits would be payable, funded exclusively by payroll taxes. The unemployment crisis caused by the Covid-19 pandemic has sped up that timeline by a few years, according to some estimates. Biden would impose Social Security payroll taxes on high earners to improve the program's solvency. Currently, workers pay 6.2% from wages, capped at wages up to $137,700 (which is indexed for inflation). Biden would also apply taxes to earnings over $400,000. Trump's campaign agenda says he would "protect Social Security." He's tweeted messages of support for Social Security on many occasions and said he would "save" the program. The president signed an executive measure in August creating a Social Security payroll tax holiday, between Sept. 1 and Dec. 31. It's a tax deferral, and workers would have to pay the tax back early next year. Businesses had to opt in. It only applied to workers making less than about $100,000 a year. But Trump has floated forgiving that deferred tax. "If I'm victorious on Nov. 3, I plan to forgive these taxes and make permanent cuts to the payroll tax," Trump said. A permanent payroll tax cut could deplete the Social Security trust funds by mid-2023, according to Stephen Goss, Social Security's chief actuary.
Student loans
Biden has proposed forgiving $10,000 in student debt for all borrowers. He would also forgive federal student debt tied to undergraduate tuition at public colleges and historically Black colleges and universities. That would apply to borrowers earning less than $125,000 a year. Trump hasn't mentioned sweeping plans to forgive student loans. He's called for eliminating public-service loan forgiveness, which allows certain not-for-profit and government employees to have federal student loans canceled after a decade of on-time payments.
watch now
Biden would keep that program but make changes, instead forgiving $10,000 a year of undergraduate or graduate student debt for up to five years. The Trump administration has allowed borrowers to pause monthly student loan payments without interest accrual during the Covid-19 pandemic. The U.S. Department of Education initially offered that moratorium in March, and the president signed an executive measure over the summer extending that pause through 2020. It's unclear if that moratorium would be extended next year if Trump (or Biden) wins the election.
Medicare


cnbc--2020-11-01--How Joe Biden got to the threshold of the presidency

Joe Biden was one of the youngest people to be elected to the Senate and is one of the oldest to run for president .
Biden served eight years as President Barack Obama 's vice president but decided not to seek the Democratic Party 's 2016 presidential nomination .
That decision cleared the way for former Secretary of State Hillary Clinton to run in the election , which ended in a shocking upset by then-novice politician Donald Trump .
The former vice president balked again at seeking the 2020 nomination but announced his candidacy on April 25 , 2019 , @ @ @ @ @ @ @ concerns about his age and the effect of a presidential run on his family .
He said one major motivation was Trump 's declaration after the deadly neo-Nazi march in Charlottesville , Virginia , in 2017 that there were `` very fine people on both sides . ''
`` With those words , the president of the United States assigned a moral equivalence between those spreading hate and those with the courage to stand against it , '' Biden said in a 3½-minute video announcing his candidacy .
`` At that moment , @ @ @ @ @ @ @ was unlike any I had ever seen in my lifetime .
... We are in the battle for the soul of this nation . ''
So now , the quintessential D.C. insider is trying to dislodge the incomparable outsider from the White House .
It 's the third time he has run for president , stumbling in bids for the nomination in 1988 and 2008 .
For a profile of President Donald Trump , see : How President Donald Trump got to Election Day in a turbulent 2020 Biden was on the mat @ @ @ @ @ @ @ , with poor showings in Iowa and New Hampshire , finishing in fourth place in the former and picking up zero delegates in the latter .
He was in such bad shape that he left the Granite State even before the polls closed on Feb. 11 and raced to his do-or-die state , South Carolina , which voted 18 days later .
Picking up the crucial endorsement of Rep. Jim Clyburn , the state 's most powerful Democrat and the highest-ranking Black member of Congress , Biden won the first presidential primary of @ @ @ @ @ @ @ of seven candidates , winning 48 % of the vote , with the runner-up , Sen. Bernie Sanders , winning 20 % .
Biden wound up sweeping all but eight states in the primaries and caucuses .
Days before the Democratic National Convention , Biden selected as his vice presidential candidate one of his primary opponents , Sen. Kamala Harris of California , despite her evisceration of him in the first Democratic debate for his opposition to busing during the 1970s and '80s .
She is the first woman of color to be @ @ @ @ @ @ @ `` I need someone working alongside me who is smart , tough , and ready to lead .
Kamala is that person , '' Biden said .
`` I need someone who understands the pain that so many people in our nation are suffering .
Whether they 've lost their job , their business , a loved one to this virus .
...
This president says he 'does n't want to be distracted by it . '
...
If we 're going to get through these crises — we need to come together @ @ @ @ @ @ @ Kamala gets that . ''
Joseph Robinette Biden Jr. was born Nov. 20 , 1942 , in Scranton , Pennsylvania , the oldest of four children of Catherine Eugenia Finnegan Biden and Biden Sr .
The elder Biden worked as a furnace cleaner and used-car salesman .
In a search of a better job , he moved the family to Delaware when Joe Jr. was 10 .
As a boy , Biden had to fight taunts from classmates because he stuttered .
After graduating from the University of Delaware , Biden married Neilia @ @ @ @ @ @ @ Syracuse University Law School two years later .
The Bidens moved to Claymont , Delaware , where he began practicing law and was elected to the New Castle County Council in 1969 .
Two years later , at age 29 , he won a stunning upset in a U.S. Senate race , defeating two-term Republican J. Caleb Boggs , who also had served two terms in the House and two terms as governor .
Six weeks after that triumph , while Biden went to Washington to check out his new office , his @ @ @ @ @ @ @ year-old daughter to shop for a Christmas tree .
The car she was driving was involved in a crash with a tractor-trailer .
Neilia and their daughter , Naomi , were killed , and sons Beau , 3 , and 2-year-old Hunter were seriously injured .
Biden considered giving up the Senate seat but decided otherwise .
He was sworn in on Jan. 5 , 1973 , in a chapel at the Wilmington Medical Center , where Beau and Hunter were treated .
Just six weeks before the small ceremony , Biden had @ @ @ @ @ @ @ serve in the upper chamber .
`` One of my earliest memories was being in that hospital , my Dad always at our side .
We , my brother and I , not the Senate , were all he cared about , '' Beau Biden recalled at the 2008 Democratic National Convention in Denver .
`` He decided not to take the oath of office .
He said then , 'Delaware can always get another senator , but my boys ca n't get another father . '
However , great men , great @ @ @ @ @ @ @ , Hubert Humphrey — men who had been tested in their own right — convinced him to serve .
He was sworn in at the hospital , at my bedside . ''
Thus began Biden 's 36 years in the Senate .
Rather than moving to Washington , he commuted by Amtrak four hours a day for the 110-mile trip from Wilmington to the nation 's capital , so he could be with his sons in Delaware .
It was a tradition he kept for his entire career on Capitol Hill .
Four @ @ @ @ @ @ @ married Jill Jacobs Stevenson , a teacher he had met on a blind date .
She became the stepmother of Biden 's sons and in 1981 the mother of the couple 's daughter , Ashley .
In the Senate , Biden became chairman of the Judiciary and Foreign Relations committees .
In the mid-1970s , he was a leading opponent of using busing against racial segregation of schools in Northern states such as Delaware , aligning himself with Sen. Jesse Helms , R-N.C. His stance came back to haunt him during a 2019 @ @ @ @ @ @ @ for working with segregationists .
`` There was a little girl in California who was a part of the second class to integrate her public schools , and she was bused to school every day , '' she said .
`` And that little girl was me . ''
Staggered , Biden said it was a `` mischaracterization '' of his position .
`` What I opposed is busing ordered by the Department of Education , '' he said .
Biden was floor manager of the 1984 Comprehensive Crime Control Act , which @ @ @ @ @ @ @ Committee chairman , he helped draft the 1994 Violent Crime Control and Law Enforcement Act , which expanded the federal death penalty , banned assault weapons and provided for harsher standards for crack cocaine violations than for powdered forms of the drug .
The crack provisions disproportionately affected Black people .
In early 2019 , three months before launching his presidential campaign , Biden called his role in backing the anti-crime measures `` a big mistake . ''
In another move he came to regret , Biden led the interrogation of Anita Hill @ @ @ @ @ @ @ for Clarence Thomas as a Supreme Court justice in 1991 .
A reluctant witness , Hill accused Thomas of sexually harassing her when he was her supervisor at the Department of Education and the Equal Employment Opportunity Commission .
Biden blocked other witnesses who were ready to testify to the all-male committee in support of Hill .
Biden said he did n't want to violate Thomas ' privacy but went on to vote in the minority against the nomination .
On the first day of Biden 's 2020 presidential bid , his campaign @ @ @ @ @ @ @ call with Hill , the former vice president had expressed `` his regret for what she endured '' three decades earlier .
Hill , a law professor at Brandeis University , told The New York Times she found the conversation unsatisfying , but she eventually endorsed Biden over Trump , `` notwithstanding all of his limitations in the past . ''
`` I believed her story from the very beginning , '' Biden told CNN last July .
`` I wish I could have protected her more .
...
I wish I could @ @ @ @ @ @ @ .
But when it ended , I was determined to do two things .
One , make sure never again would there not be women on the committee .
... And I was determined to continue and finish writing and passing the Violence Against Women Act . ''
He did co-sponsor that legislation , which became law in 1994 as part of the Violent Crime Control and Law Enforcement Act .
On the Foreign Relations Committee , Biden voted against authorizing the Gulf War in 1991 after Iraqi strongman Saddam Hussein invaded Kuwait @ @ @ @ @ @ @ among the first to call for arming Bosnian Muslims and allowing NATO airstrikes against Serb forces in the Balkan War .
Eight years later , Biden backed the NATO bombing of Yugoslavia and co-sponsored legislation with Republican Sen. John McCain that called on President Bill Clinton to use force against Serb leader Slobodan Milosevic for atrocities in the Kosovo War .
After the Sept. 11 , 2001 , terrorist attacks and the U.S. military action against the Taliban regime in Afghanistan , Biden was an early supporter of a continued U.S. military peacekeeping @ @ @ @ @ @ @ where the al-Qaeda plotters of 9/11 had been based .
`` Whatever it takes , we should do it , '' Biden said in February 2002 .
`` History will judge us harshly if we allow the hope of a liberated Afghanistan to evaporate because we failed to stay the course . ''
During the tensions ahead of the 2003 U.S. invasion of Iraq , Biden helped draft a resolution that gave President George W. Bush the authority to use military force as a last resort against Saddam 's purported program to develop @ @ @ @ @ @ @ 1988 presidential campaign lasted less than three months , flaming out after he was accused of plagiarizing a speech by British Labour Party leader Neil Kinnock during a debate at the 1987 Iowa State Fair .
It was n't the last time Biden put his foot in his mouth .
In 2006 , two years after announcing his intention to run for president again , Biden rambled seemingly endlessly during the confirmation hearing for then-Supreme Court nominee Samuel Alito Jr .
The senator managed to ask only five questions in his allotted 30 @ @ @ @ @ @ @ say — and then too much to add , '' The Washington Post 's Richard Cohen said in a column the next day .
`` He is an anatomical disaster .
His Achilles ' heel is his mouth . ''
During the 2008 presidential campaign , Biden touted his foreign policy credentials , but that bid also fizzled , again because of remarks he made , starting on Day One of his candidacy .
In an interview published that day , Jan. 31 , 2007 , in The New York Observer , Biden @ @ @ @ @ @ @ .
`` I mean you got the first mainstream African American who is articulate and bright and clean and a nice-looking guy , '' Biden said .
Obama at first brushed it off , saying he did n't think Biden `` intended to offend , '' but he later took issue with the remarks .
`` Obviously they were historically inaccurate , '' Obama said .
`` African American presidential candidates like Jesse Jackson , Shirley Chisholm , Carol Moseley Braun and Al Sharpton gave a voice to many important issues through their @ @ @ @ @ @ @ them inarticulate . ''
Nearly a year later , Biden dropped out of the race .
Luckily for him , Obama took the high road and named him his running mate in the 2008 campaign , selecting the Irish American senator — a member of the `` sensible center of the Democratic Party , '' as it was known — for his popularity with blue-collar voters and for his expertise in national security .
Even during Biden 's successful bid for the 2020 nomination , his mouth got him in trouble .
Three @ @ @ @ @ @ @ Floyd on Memorial Day , Biden apologized within hours of making a racially insensitive statement on `` The Breakfast Club , '' a podcast popular with Black millennials .
`` If you 've got a problem figuring out whether you 're for me or for Trump , then you ai n't Black , '' he said .
The comment shook and angered Black voters .
Only 2½ months earlier , African American voters in South Carolina had saved the presidential bid for the man who was vice president to the nation 's first @ @ @ @ @ @ @ with the country struggling to pull out of the Great Recession .
Biden helped get support for the American Recovery and Reinvestment Act of 2009 , then was placed in charge of oversight for the $ 787 billion package , which included income and unemployment subsidies , tax cuts and funds for `` shovel-ready '' infrastructure projects .
The New York Times in May 2020 called Biden 's oversight role `` perhaps the most significant ... assignment of his time in office . ''
In a 2010 report , the nonpartisan Congressional Budget @ @ @ @ @ @ @ gross domestic product by between 1.7 % and 4.5 % , lowering the unemployment rate by between 0.7 and 1.8 percentage points and increasing the number of full-time jobs by a range of 2 million to 4.8 million .
Republicans , however , criticized it .
A report by McCain and Sen. Tom Coburn , R-Okla. , targeted 100 projects that received funds , including $ 555,000 for new windows for a closed visitor 's center at Mount St. Helens and $ 762,000 for a computerized dance program at the University of North @ @ @ @ @ @ @ across-the-aisle talents were used to win deals with Sen. Mitch McConnell , R-Ky. , to avoid falling off the `` fiscal cliff '' during standoffs in 2011 and 2012 over the federal deficit and debt .
Their agreement in 2012 led to the American Taxpayer Relief Act of that year , which made permanent many of the tax cuts enacted under the George W. Bush administration .
While Biden was Obama 's vice president , the `` Joe bombs '' continued .
During the swine flu outbreak in 2009 , he got in @ @ @ @ @ @ @ would advise his family to avoid travel on public transit or planes , eliciting a clarification from the White House .
In May 2012 , his statement that he was `` absolutely comfortable '' with same-sex marriage was a clearer endorsement than Obama 's self-described `` evolving '' position on the issue .
Biden apologized to Obama privately , but the president later moved to clearly advocate for same-sex marriage .
Biden made numerous visits to U.S. troops in Iraq and supported NATO 's military intervention in Libya during the demise of Moammar @ @ @ @ @ @ @ assassination .
He argued , unsuccessfully , against then-Secretary of State Hillary Clinton 's call for sending 21,000 more troops to the war in Afghanistan in 2009 .
`` The best thing about Joe is that when we get everybody together , he really forces people to think and defend their positions , to look at things from every angle , and that is very valuable for me , '' Obama said in a statement later that year to Politico .
`` I also know , when he gives me his advice , @ @ @ @ @ @ @ '' Biden 's hopes for the White House were derailed in 2015 , this time by another family tragedy .
His son Beau , who had served in Iraq and as Delaware attorney general and had been a front-runner in the race for governor , died of brain cancer on May 30 , 2015 .
He was 46 .
Five months later , Biden announced in the White House Rose Garden that he was taking himself out of the 2016 presidential race .
`` As the family and I have worked through the @ @ @ @ @ @ @ said all along what I 've said time and again to others : that it may very well be that that process , by the time we get through it , closes the window on mounting a realistic campaign for president .
That it might close , '' Biden said .
`` I 've concluded it has closed . ''
Before Biden reopened that window more than four years later , Trump considered him such a threat that he pressured the head of a foreign country — President Volodymyr Zelenskiy of Ukraine — @ @ @ @ @ @ @ the board of Ukrainian gas company Burisma .
According to an unfounded conspiracy theory , then-Vice President Biden sought to withhold loan guarantees to Ukraine to pressure its government to fire a prosecutor in order to protect Hunter in a corruption investigation of Burisma .
However , the call for the removal of the Ukrainian prosecutor was supported by Republicans and Democrats and by major U.S. allies because he was considered soft on corruption .
Trump 's call to Zelenskiy became the basis of the impeachment trial that ended in his acquittal by @ @ @ @ @ @ @ by Hunter , although he and his son conceded that Hunter could have exercised better judgment in joining the Burisma board .
`` Look , my son did nothing wrong at Burisma , '' Biden said during the first election debate against Trump .
`` This is not about my family or his family , this is about your family — the American people . ''
Subscribe to CNBC on YouTube .

Joe Biden speaks in Wilmington, Delaware, about the Trump administration's handling of the coronavirus pandemic, June 30, 2020. Kevin Lamarque | Reuters
Joe Biden was one of the youngest people to be elected to the Senate and is one of the oldest to run for president. Biden served eight years as President Barack Obama's vice president but decided not to seek the Democratic Party's 2016 presidential nomination. That decision cleared the way for former Secretary of State Hillary Clinton to run in the election, which ended in a shocking upset by then-novice politician Donald Trump. The former vice president balked again at seeking the 2020 nomination but announced his candidacy on April 25, 2019, at age 76, despite his personal concerns about his age and the effect of a presidential run on his family. He said one major motivation was Trump's declaration after the deadly neo-Nazi march in Charlottesville, Virginia, in 2017 that there were "very fine people on both sides." "With those words, the president of the United States assigned a moral equivalence between those spreading hate and those with the courage to stand against it," Biden said in a 3½-minute video announcing his candidacy. "At that moment, I knew the threat to this nation was unlike any I had ever seen in my lifetime. ... We are in the battle for the soul of this nation." So now, the quintessential D.C. insider is trying to dislodge the incomparable outsider from the White House. It's the third time he has run for president, stumbling in bids for the nomination in 1988 and 2008. For a profile of President Donald Trump, see: How President Donald Trump got to Election Day in a turbulent 2020 Biden was on the mat in the first two 2020 nominating contests, with poor showings in Iowa and New Hampshire, finishing in fourth place in the former and picking up zero delegates in the latter. He was in such bad shape that he left the Granite State even before the polls closed on Feb. 11 and raced to his do-or-die state, South Carolina, which voted 18 days later. Picking up the crucial endorsement of Rep. Jim Clyburn, the state's most powerful Democrat and the highest-ranking Black member of Congress, Biden won the first presidential primary of his life. He crushed the field of seven candidates, winning 48% of the vote, with the runner-up, Sen. Bernie Sanders, winning 20%. Biden wound up sweeping all but eight states in the primaries and caucuses. Days before the Democratic National Convention, Biden selected as his vice presidential candidate one of his primary opponents, Sen. Kamala Harris of California, despite her evisceration of him in the first Democratic debate for his opposition to busing during the 1970s and '80s. She is the first woman of color to be chosen for a major party ticket. "I need someone working alongside me who is smart, tough, and ready to lead. Kamala is that person," Biden said. "I need someone who understands the pain that so many people in our nation are suffering. Whether they've lost their job, their business, a loved one to this virus. ... This president says he 'doesn't want to be distracted by it.' ... If we're going to get through these crises — we need to come together and unite for a better America. Kamala gets that."
Early tragedies and triumphs
Joseph Robinette Biden Jr. was born Nov. 20, 1942, in Scranton, Pennsylvania, the oldest of four children of Catherine Eugenia Finnegan Biden and Biden Sr. The elder Biden worked as a furnace cleaner and used-car salesman. In a search of a better job, he moved the family to Delaware when Joe Jr. was 10. As a boy, Biden had to fight taunts from classmates because he stuttered. After graduating from the University of Delaware, Biden married Neilia Hunter in August 1966 and graduated from Syracuse University Law School two years later. The Bidens moved to Claymont, Delaware, where he began practicing law and was elected to the New Castle County Council in 1969. Two years later, at age 29, he won a stunning upset in a U.S. Senate race, defeating two-term Republican J. Caleb Boggs, who also had served two terms in the House and two terms as governor. Six weeks after that triumph, while Biden went to Washington to check out his new office, his wife took their two young sons and year-old daughter to shop for a Christmas tree. The car she was driving was involved in a crash with a tractor-trailer. Neilia and their daughter, Naomi, were killed, and sons Beau, 3, and 2-year-old Hunter were seriously injured.
Then Sen.-elect Joseph Biden swears to his U.S. citizenship at the office of the Secretary of the Senate. Biden, who just turned 30 at the time, became the youngest Senator in the 93rd Congress on Jan. 3, 1973. Left is William Ridgely, Senate financial officer, and center is Frank Valeo, secretary of the Senate. Bettmann | Getty Images
Biden considered giving up the Senate seat but decided otherwise. He was sworn in on Jan. 5, 1973, in a chapel at the Wilmington Medical Center, where Beau and Hunter were treated. Just six weeks before the small ceremony, Biden had turned 30, the minimum age to serve in the upper chamber. "One of my earliest memories was being in that hospital, my Dad always at our side. We, my brother and I, not the Senate, were all he cared about," Beau Biden recalled at the 2008 Democratic National Convention in Denver. "He decided not to take the oath of office. He said then, 'Delaware can always get another senator, but my boys can't get another father.' However, great men, great men like Ted Kennedy, Mike Mansfield, Hubert Humphrey — men who had been tested in their own right — convinced him to serve. He was sworn in at the hospital, at my bedside." Thus began Biden's 36 years in the Senate. Rather than moving to Washington, he commuted by Amtrak four hours a day for the 110-mile trip from Wilmington to the nation's capital, so he could be with his sons in Delaware. It was a tradition he kept for his entire career on Capitol Hill. Four years into his first term, Biden married Jill Jacobs Stevenson, a teacher he had met on a blind date. She became the stepmother of Biden's sons and in 1981 the mother of the couple's daughter, Ashley.
Joe Biden greets his wife, Jill, on the fourth night of the Democratic National Convention from the Chase Center on August 20, 2020 in Wilmington, Delaware. Win McNamee | Getty Images
In the Senate, Biden became chairman of the Judiciary and Foreign Relations committees. In the mid-1970s, he was a leading opponent of using busing against racial segregation of schools in Northern states such as Delaware, aligning himself with Sen. Jesse Helms, R-N.C. His stance came back to haunt him during a 2019 presidential debate, when Harris attacked him for working with segregationists. "There was a little girl in California who was a part of the second class to integrate her public schools, and she was bused to school every day," she said. "And that little girl was me." Staggered, Biden said it was a "mischaracterization" of his position. "What I opposed is busing ordered by the Department of Education," he said. Biden was floor manager of the 1984 Comprehensive Crime Control Act, which toughened penalties for criminals. As Judiciary Committee chairman, he helped draft the 1994 Violent Crime Control and Law Enforcement Act, which expanded the federal death penalty, banned assault weapons and provided for harsher standards for crack cocaine violations than for powdered forms of the drug. The crack provisions disproportionately affected Black people. In early 2019, three months before launching his presidential campaign, Biden called his role in backing the anti-crime measures "a big mistake." In another move he came to regret, Biden led the interrogation of Anita Hill at the Judiciary Committee's confirmation hearing for Clarence Thomas as a Supreme Court justice in 1991.
Then-Sen. Joseph Biden holds up the book "Order and Law" by Charles Fried during the Clarence Thomas hearings. Wally McNamee | Corbis Historical | Getty Images
A reluctant witness, Hill accused Thomas of sexually harassing her when he was her supervisor at the Department of Education and the Equal Employment Opportunity Commission. Biden blocked other witnesses who were ready to testify to the all-male committee in support of Hill. Biden said he didn't want to violate Thomas' privacy but went on to vote in the minority against the nomination. On the first day of Biden's 2020 presidential bid, his campaign officials disclosed that during a recent phone call with Hill, the former vice president had expressed "his regret for what she endured" three decades earlier. Hill, a law professor at Brandeis University, told The New York Times she found the conversation unsatisfying, but she eventually endorsed Biden over Trump, "notwithstanding all of his limitations in the past." "I believed her story from the very beginning," Biden told CNN last July. "I wish I could have protected her more. ... I wish I could have done it differently under the rules. But when it ended, I was determined to do two things. One, make sure never again would there not be women on the committee. ... And I was determined to continue and finish writing and passing the Violence Against Women Act." He did co-sponsor that legislation, which became law in 1994 as part of the Violent Crime Control and Law Enforcement Act. On the Foreign Relations Committee, Biden voted against authorizing the Gulf War in 1991 after Iraqi strongman Saddam Hussein invaded Kuwait. The same year, Biden was among the first to call for arming Bosnian Muslims and allowing NATO airstrikes against Serb forces in the Balkan War. Eight years later, Biden backed the NATO bombing of Yugoslavia and co-sponsored legislation with Republican Sen. John McCain that called on President Bill Clinton to use force against Serb leader Slobodan Milosevic for atrocities in the Kosovo War. After the Sept. 11, 2001, terrorist attacks and the U.S. military action against the Taliban regime in Afghanistan, Biden was an early supporter of a continued U.S. military peacekeeping presence in the Central Asian country, where the al-Qaeda plotters of 9/11 had been based. "Whatever it takes, we should do it," Biden said in February 2002. "History will judge us harshly if we allow the hope of a liberated Afghanistan to evaporate because we failed to stay the course." During the tensions ahead of the 2003 U.S. invasion of Iraq, Biden helped draft a resolution that gave President George W. Bush the authority to use military force as a last resort against Saddam's purported program to develop weapons of mass destruction.
Foot in mouth
Biden's 1988 presidential campaign lasted less than three months, flaming out after he was accused of plagiarizing a speech by British Labour Party leader Neil Kinnock during a debate at the 1987 Iowa State Fair. It wasn't the last time Biden put his foot in his mouth. In 2006, two years after announcing his intention to run for president again, Biden rambled seemingly endlessly during the confirmation hearing for then-Supreme Court nominee Samuel Alito Jr. The senator managed to ask only five questions in his allotted 30 minutes. "He has much to say — and then too much to add," The Washington Post's Richard Cohen said in a column the next day. "He is an anatomical disaster. His Achilles' heel is his mouth." During the 2008 presidential campaign, Biden touted his foreign policy credentials, but that bid also fizzled, again because of remarks he made, starting on Day One of his candidacy. In an interview published that day, Jan. 31, 2007, in The New York Observer, Biden described then-Sen. Obama's historic presidential bid. "I mean you got the first mainstream African American who is articulate and bright and clean and a nice-looking guy," Biden said. Obama at first brushed it off, saying he didn't think Biden "intended to offend," but he later took issue with the remarks. "Obviously they were historically inaccurate," Obama said. "African American presidential candidates like Jesse Jackson, Shirley Chisholm, Carol Moseley Braun and Al Sharpton gave a voice to many important issues through their campaigns, and no one would call them inarticulate."
President Barack Obama and Vice President Joe Biden wave during the final day of the Democratic National Convention in Charlotte, North Carolina, on Sept. 6, 2012. Tom Pennington | Getty Images
Nearly a year later, Biden dropped out of the race. Luckily for him, Obama took the high road and named him his running mate in the 2008 campaign, selecting the Irish American senator — a member of the "sensible center of the Democratic Party," as it was known — for his popularity with blue-collar voters and for his expertise in national security. Even during Biden's successful bid for the 2020 nomination, his mouth got him in trouble. Three days before the police killing of George Floyd on Memorial Day, Biden apologized within hours of making a racially insensitive statement on "The Breakfast Club," a podcast popular with Black millennials. "If you've got a problem figuring out whether you're for me or for Trump, then you ain't Black," he said. The comment shook and angered Black voters. Only 2½ months earlier, African American voters in South Carolina had saved the presidential bid for the man who was vice president to the nation's first Black president.
Vice President Biden — 'forces people to think'
The Obama administration began with the country struggling to pull out of the Great Recession. Biden helped get support for the American Recovery and Reinvestment Act of 2009, then was placed in charge of oversight for the $787 billion package, which included income and unemployment subsidies, tax cuts and funds for "shovel-ready" infrastructure projects. The New York Times in May 2020 called Biden's oversight role "perhaps the most significant ... assignment of his time in office." In a 2010 report, the nonpartisan Congressional Budget Office credited the act for raising real gross domestic product by between 1.7% and 4.5%, lowering the unemployment rate by between 0.7 and 1.8 percentage points and increasing the number of full-time jobs by a range of 2 million to 4.8 million. Republicans, however, criticized it. A report by McCain and Sen. Tom Coburn, R-Okla., targeted 100 projects that received funds, including $555,000 for new windows for a closed visitor's center at Mount St. Helens and $762,000 for a computerized dance program at the University of North Carolina at Charlotte. But Biden's across-the-aisle talents were used to win deals with Sen. Mitch McConnell, R-Ky., to avoid falling off the "fiscal cliff" during standoffs in 2011 and 2012 over the federal deficit and debt. Their agreement in 2012 led to the American Taxpayer Relief Act of that year, which made permanent many of the tax cuts enacted under the George W. Bush administration. While Biden was Obama's vice president, the "Joe bombs" continued. During the swine flu outbreak in 2009, he got in trouble with his boss by saying he would advise his family to avoid travel on public transit or planes, eliciting a clarification from the White House. In May 2012, his statement that he was "absolutely comfortable" with same-sex marriage was a clearer endorsement than Obama's self-described "evolving" position on the issue. Biden apologized to Obama privately, but the president later moved to clearly advocate for same-sex marriage. Biden made numerous visits to U.S. troops in Iraq and supported NATO's military intervention in Libya during the demise of Moammar Gadhafi's regime and the dictator's assassination. He argued, unsuccessfully, against then-Secretary of State Hillary Clinton's call for sending 21,000 more troops to the war in Afghanistan in 2009. "The best thing about Joe is that when we get everybody together, he really forces people to think and defend their positions, to look at things from every angle, and that is very valuable for me," Obama said in a statement later that year to Politico. "I also know, when he gives me his advice, he gives it to me straight." Biden's hopes for the White House were derailed in 2015, this time by another family tragedy. His son Beau, who had served in Iraq and as Delaware attorney general and had been a front-runner in the race for governor, died of brain cancer on May 30, 2015. He was 46. Five months later, Biden announced in the White House Rose Garden that he was taking himself out of the 2016 presidential race.
Then-vice presidential nominee Joe Biden and son Beau acknowledge the crowd at the Democratic National Convention, August 27, 2008 in Denver. Mark Wilson | Getty Images


cnbc--2020-11-02--Trump campaign rallies led to more than 30,000 coronavirus cases, Stanford researchers say

The researchers found that the rallies ultimately resulted in more than 30,000 confirmed cases of Covid-19 .
They also concluded that the rallies likely led to more than 700 deaths , though not necessarily among attendees .
Researchers looked at 18 Trump rallies held between June 20 and Sept. 22 and analyzed Covid-19 data the weeks following each event .
They compared the counties where the events were held to other counties that had a similar trajectory of confirmed Covid-19 cases prior to the rally date .
Out of the 18 rallies analyzed , only three were indoors , according @ @ @ @ @ @ @ 's campaign rallies led to more than 30,000 coronavirus cases , according to a new paper posted by researchers at Stanford .
The researchers said the findings support the warnings and recommendations of public health officials concerning the risk of Covid-19 transmission at large group gatherings , `` particularly when the degree of compliance with guidelines concerning the use of masks and social distancing is low . ''
`` The communities in which Trump rallies took place paid a high price in terms of disease and death , '' said B. Douglas Bernheim @ @ @ @ @ @ @ and a lead author of the paper , wrote .
The paper , which has not undergone a peer review yet , was published on open access preprint platform SSRN .
Because of the pandemic , researchers have been sharing preliminary results on preprint servers and institutional websites to get potentially vital information out as quickly as possible .
Bernheim told the New York Times that the paper was not politically motivated , and posting it before peer-review is common practice for economists so that other experts can comment on it .
In @ @ @ @ @ @ @ spokesperson Courtney Parella said , `` Americans have the right to gather under the First Amendment to hear from the President of the United States . ''
`` We take strong precautions for our campaign events , requiring every attendee to have their temperature checked , providing masks they 're instructed to wear , and ensuring access to plenty of hand sanitizer .
We also have signs at our events instructing attendees to wear their masks , '' she added .
A spokesperson for Joe Biden 's campaign issued a statement after the @ @ @ @ @ @ @ `` costing hundreds of lives and sparking thousands of cases with super spreader rallies that only serve his own ego . ''
`` The worst part is that this does n't even capture Trump 's many superspreader events on White House grounds or the last five weeks of events across the country .
How many more lives have been upended in that time ?
How many more empty seats are there at kitchen tables across America because of Donald Trump 's ego ? ''
spokesperson Andrew Bates said .
The researchers said they @ @ @ @ @ @ @ '' acknowledging that the dynamics of Covid-19 are `` complex , '' and `` even the most superficial examination of the data reveals that the process governing the spread of Covid-19 differs across counties . ''
The new research comes as the coronavirus continues to rapidly spread across the United States .
The U.S. continued to set new highs for infections this week , with Friday marking a record 99,321 daily new cases , bringing the seven-day average of daily new cases to a new high at 78,738 , a CNBC analysis of @ @ @ @ @ @ @ Trump has often been criticized for holding in-person rallies , sometimes with tens of thousands of people , during a pandemic .
He has sought to downplay the virus , often tying the increase in Covid-19 cases to more testing .
But public health officials and infectious disease experts dispute that claim , saying the rate of tests that come back positive and hospitalizations are also on the rise .
Dr. Anthony Fauci , the nation 's leading infectious disease expert , said Friday that the U.S. is reporting an `` extremely high @ @ @ @ @ @ @ cases ahead of the winter season when people will be spending more time indoors .
`` We 're in a precarious position over the next several weeks to months , '' Fauci told SiriusXM 's `` Doctor Radio Reports , '' calling on people to continue wearing face masks , social distance and spend time outdoors over indoors as much as possible .

The researchers found that the rallies ultimately resulted in more than 30,000 confirmed cases of Covid-19. They also concluded that the rallies likely led to more than 700 deaths, though not necessarily among attendees.
Researchers looked at 18 Trump rallies held between June 20 and Sept. 22 and analyzed Covid-19 data the weeks following each event. They compared the counties where the events were held to other counties that had a similar trajectory of confirmed Covid-19 cases prior to the rally date. Out of the 18 rallies analyzed, only three were indoors, according to the research.
President Donald Trump 's campaign rallies led to more than 30,000 coronavirus cases, according to a new paper posted by researchers at Stanford.
The researchers said the findings support the warnings and recommendations of public health officials concerning the risk of Covid-19 transmission at large group gatherings, "particularly when the degree of compliance with guidelines concerning the use of masks and social distancing is low."
"The communities in which Trump rallies took place paid a high price in terms of disease and death," said B. Douglas Bernheim, chairman of Stanford's economics department and a lead author of the paper, wrote.
The paper, which has not undergone a peer review yet, was published on open access preprint platform SSRN. Because of the pandemic, researchers have been sharing preliminary results on preprint servers and institutional websites to get potentially vital information out as quickly as possible.
Bernheim told the New York Times that the paper was not politically motivated, and posting it before peer-review is common practice for economists so that other experts can comment on it.
In response to the paper, Trump campaign spokesperson Courtney Parella said, "Americans have the right to gather under the First Amendment to hear from the President of the United States."
"We take strong precautions for our campaign events, requiring every attendee to have their temperature checked, providing masks they're instructed to wear, and ensuring access to plenty of hand sanitizer. We also have signs at our events instructing attendees to wear their masks," she added.
A spokesperson for Joe Biden's campaign issued a statement after the paper posted, saying, Trump is "costing hundreds of lives and sparking thousands of cases with super spreader rallies that only serve his own ego."
"The worst part is that this doesn't even capture Trump's many superspreader events on White House grounds or the last five weeks of events across the country. How many more lives have been upended in that time? How many more empty seats are there at kitchen tables across America because of Donald Trump's ego?" spokesperson Andrew Bates said.
The researchers said they had to overcome "significant challenges," acknowledging that the dynamics of Covid-19 are "complex," and "even the most superficial examination of the data reveals that the process governing the spread of Covid-19 differs across counties."
The new research comes as the coronavirus continues to rapidly spread across the United States. The U.S. continued to set new highs for infections this week, with Friday marking a record 99,321 daily new cases, bringing the seven-day average of daily new cases to a new high at 78,738, a CNBC analysis of data from Johns Hopkins University showed.
Trump has often been criticized for holding in-person rallies, sometimes with tens of thousands of people, during a pandemic. He has sought to downplay the virus, often tying the increase in Covid-19 cases to more testing. But public health officials and infectious disease experts dispute that claim, saying the rate of tests that come back positive and hospitalizations are also on the rise.
Dr. Anthony Fauci, the nation's leading infectious disease expert, said Friday that the U.S. is reporting an "extremely high and quite unacceptable" daily number of cases ahead of the winter season when people will be spending more time indoors.
"We're in a precarious position over the next several weeks to months," Fauci told SiriusXM's "Doctor Radio Reports," calling on people to continue wearing face masks, social distance and spend time outdoors over indoors as much as possible.


cnbc--2020-11-03--When each state's polls close and how many electoral votes they have

Voters fill out their ballots as they vote at the Stephen P. Clark Government Center polling station on October 21 , 2020 in Miami , Florida .
It 's Election Day in the U.S. and millions of voters will flock to polling sites across the country to cast their ballot in favor of either President Donald Trump or Democratic challenger Joe Biden .
In practice , Americans will vote on how they want their state 's representatives in the Electoral College to decide on who will be president starting in January .
The 538 `` electors '' are divvied up @ @ @ @ @ @ @ the District of Columbia .
A presidential candidate must receive an absolute majority of at least 270 electoral votes to win .
States apportioned the most electoral votes California ( 55 ) , Texas ( 38 ) , New York and Florida ( 29 each ) , and Illinois and Pennsylvania ( 20 each ) .
Voters had already cast more than 94 million ballots by Monday morning ahead of Election Day , according to the U.S .
Elections Project .
That statistic represents more than 68 % of the total U.S. votes @ @ @ @ @ @ @ site , which is managed by the by University of Florida .
The headline figure includes more than 34 million early in-person votes as well as nearly 60 million returned mail-in ballots , though some states do n't break out mail-in votes separately from in-person .
Texas — a target for Democrats hoping to turn more states blue — and Hawaii have already exceeded their total voter turnout in 2016 , at about 110 % of those voting levels .
Below is a schedule of when each state 's polls close and how @ @ @ @ @ @ @ .
Results by state tend to trickle in in the hours immediately following poll closure .
( All times are Eastern Standard Time . )

Voters fill out their ballots as they vote at the Stephen P. Clark Government Center polling station on October 21, 2020 in Miami, Florida.
It's Election Day in the U.S. and millions of voters will flock to polling sites across the country to cast their ballot in favor of either President Donald Trump or Democratic challenger Joe Biden.
In practice, Americans will vote on how they want their state's representatives in the Electoral College to decide on who will be president starting in January. The 538 "electors" are divvied up by population among the 50 states and the District of Columbia.
A presidential candidate must receive an absolute majority of at least 270 electoral votes to win. States apportioned the most electoral votes are California (55), Texas (38), New York and Florida (29 each), and Illinois and Pennsylvania (20 each).


cnbc--2020-11-03--Here's where we stand on the latest battleground state polls

NBC News correspondent Steve Kornacki looks at the latest poll numbers in the battleground states heading into the U.S. presidential @ @

NBC News correspondent Steve Kornacki looks at the latest poll numbers in the battleground states heading into the U.S. presidential election.


cnbc--2020-11-03--Supreme Court, with Justice Barrett, to hear major LGBT rights case day after election

Judge Amy Coney Barrett , U.S. President Donald Trump 's nominee to the Supreme Court , poses during a meeting with U.S .
Senator Mitt Romney ( R-UT ) on Capitol Hill in Washington , U.S. September 30 , 2020 .
After learning about the policy in 2018 , Philadelphia refused to refer the group new foster children , citing a city law that prohibits discrimination on the basis of sexual orientation .
The city added language to its 2019 contracts specifically prohibiting such discrimination against potential foster parents .
The case concerns a Roman Catholic adoption agency in Philadelphia @ @ @ @ @ @ @ foster children with same-sex households without violating its religious beliefs .
Doing so could effectively reverse the court 's trend in recent years of advancing protections for LGBT people , civil rights advocates warn .
The case could also weaken laws protecting other groups , including Jews , Muslims and Mormons .
Religious rights activists are pushing for the court to use the case , Fulton v. City of Philadelphia , to overturn a 30-year-old precedent that has for decades mediated the balance between freedom of conscience and the rights of minority groups @ @ @ @ @ @ @ just a day after the presidential election , will mark the first major fight to come before Justice Amy Coney Barrett , who was sworn in a week ago .
The Supreme Court is set to hear a case concerning the rights of gay and lesbian Americans on Wednesday morning in a dispute that advocates are warning could pierce holes in the nation 's anti-discrimination laws .
Philadelphia and two nonprofits that are challenging CSS in the case , Support Center for Child Advocates and Philadelphia Family Pride , argue that any standard @ @ @ @ @ @ @ to discriminate against same-sex couples would have broad ramifications .
`` Catholic Social Services stands to be excluded from foster care , not because it broke any law , but because Philadelphia disagrees with its religious practices regarding marriage , '' an attorney for CSS , Mark Rienzi , told the justices in a filing .
In its appeal , Catholic Social Services has asked justices to overturn Smith and implement a new standard .
The Third Circuit ruling relied heavily on the 1990 Supreme Court precedent known as Employment Division v. Smith @ @ @ @ @ @ @ late conservative Justice Antonin Scalia , held that laws that burden religious exercise are typically permissible as long as they are generally applicable and do not target religion .
The 3rd U.S .
Circuit Court of Appeals sided with Philadelphia in a unanimous decision in April 2019 .
Circuit Judge Thomas Ambro , writing for the court , said CSS failed to show that the city was motivated by anything other than `` sincere opposition to discrimination on the basis of sexual orientation . ''
Philadelphia , on the other hand , has @ @ @ @ @ @ @ policies in order to protect LGBT residents .
The city says it is not hostile to religion , noting that its policies apply evenly to religious and secular government contractors .
The group , Catholic Social Services , is suing to defend its ability to refuse to work with same-sex households .
In court papers , the group has argued that Philadelphia 's moves unlawfully targeted its right to exercise its religion , which is protected under the First Amendment .
Cecelia Paul , deceased plaintiff in Fulton v Philadelphia , taken at @ @ @ @ @ @ @ '' It would mean governments ' hands would be tied and they would not be able to enforce any anti-discrimination laws , '' according to Leslie Cooper , an ACLU attorney representing the nonprofits .
`` The court has in a number of cases recognized that LGBT people must be treated with the same dignity and respect as others , '' Cooper said .
She said that in this case , a win for CSS `` would essentially give anyone who objects to LGBT people and cites a religious basis for that the @ @ @ @ @ @ @ protections that achieved equal treatment for the LGBT community . ''
Lori Windham , who will be arguing in court on Wednesday for CSS , said those objections are exaggerated .
`` It 's completely overblown .
Catholic Social Services has been partnering with women of color for decades to service a diverse population , '' Windham said .
`` They are asking to continue to do that . ''
While Smith has been on the books for three decades , there is good reason to suspect that the top court , now @ @ @ @ @ @ @ it .
Just last year , four of the court 's conservatives , Justices Samuel Alito , Clarence Thomas , Neil Gorsuch and Brett Kavanaugh , suggested obliquely they were open to doing so .
With Barrett on the bench , the court , already friendly to religion , is expected to become more so .
But that does n't necessarily mean she will vote to overturn Smith .
`` She clerked for Justice Scalia .
Will she , in the first week or so of her time on the court , be @ @ @ @ @ @ @ by her old boss ? ''
asked David Flugman a partner at the law firm Selendy & Gay with experience litigating high-profile civil rights cases .
But Flugman added that despite that nuance , Barrett 's addition to the court likely added to the possibility of a sweeping ruling .
A win for CSS could take several possible forms .
Katherine Franke , faculty director of the Law , Rights , and Religion Project at Columbia University , said it was possible the court could overturn Smith without explicitly crafting a new standard @ @ @ @ @ @ @ which the court has interpreted the federal Religious Freedom Restoration Act , Franke said it was more likely the court would create an higher standard for reviewing laws that affect religion than existed even before Smith was decided in 1990 .
`` Many of us in the business call this religious liberty on steroids , '' she said .
Flugman said the tension between religious freedom and LGBT equality at the heart of the case is the `` fundamental issue in the LGBT rights space right now . ''
`` The real world @ @ @ @ @ @ @ really , really important to people , '' Flugman said .
`` From denial of health care , to exclusion from schools , or refusing to serve people in restaurants or not accommodating them in bed and breakfasts . ''
The court confronted a situation along those lines in the 2018 case known as Masterpiece Cakeshop , in which a Christian baker refused to make a wedding cake for a same-sex couple .
The court sided with the baker , but did so on such narrow grounds that the ruling did n't apply @ @ @ @ @ @ @ Masterpiece decision , though just a few years old , may effectively be from another era .
It was written by Justice Anthony Kennedy , the chief defender of LGBT rights on the Supreme Court , just weeks before he retired .
With Kennedy 's departure , Franke said , the court embarked on a new phase in its religion cases , in which religious rights started to be elevated above all others .
`` Justice Kennedy saw all the rights secured in the Constitution in a delicate balance with one another , @ @ @ @ @ @ @ as more fundamental than others , '' Franke said .
`` We are beginning to see a sort of tiering of rights , where some are top tier rights , and others are middle tier rights . ''
The conflict between those `` top tier '' rights — religion and gun rights , among others — and `` middle tier '' rights was on display last term , Franke said .
In rulings issued in June and July , the justices shielded religious schools from discrimination lawsuits brought by teachers , allowed religious @ @ @ @ @ @ @ free contraceptive coverage , and paved the way for religious schools to receive taxpayer dollars .
But the justices also upset religious conservatives by ruling , in the case Bostock v. Clayton County , that Title 7 of the Civil Rights Act protected gay and transgender workers from being fired on the basis of their sexual orientation or gender identity .
Franke noted that the cases favoring religion were written in soaring language , while Gorsuch 's opinion defending gay and transgender workers was workmanlike — and left open the possibility that religious @ @ @ @ @ @ @ 7 .
`` I see that when these are going to come up against each other , the deep normative reasoning of the religious liberty cases will just overpower the mechanical reasoning of the equality cases or the reproductive rights cases , '' Franke said .
Mary Bonauto , an attorney at GLBTQ Legal Advocates & Defender , wrote in a filing submitted to the justices that Bostock and the court 's previous cases had `` profound significance for LGBTQ people 's ability to sustain themselves and their families and to participate in @ @ @ @ @ @ @ '' Fulton , she wrote , puts that `` incipient equal citizenship at serious risk . ''
A decision in the case is expected by the end of June .
The case is Fulton v. City of Philadelphia , No .
19-123 .

Judge Amy Coney Barrett, U.S. President Donald Trump's nominee to the Supreme Court, poses during a meeting with U.S. Senator Mitt Romney (R-UT) on Capitol Hill in Washington, U.S. September 30, 2020.
After learning about the policy in 2018, Philadelphia refused to refer the group new foster children, citing a city law that prohibits discrimination on the basis of sexual orientation. The city added language to its 2019 contracts specifically prohibiting such discrimination against potential foster parents.
The case concerns a Roman Catholic adoption agency in Philadelphia that claims that it can't match foster children with same-sex households without violating its religious beliefs.
Doing so could effectively reverse the court's trend in recent years of advancing protections for LGBT people, civil rights advocates warn. The case could also weaken laws protecting other groups, including Jews, Muslims and Mormons.
Religious rights activists are pushing for the court to use the case, Fulton v. City of Philadelphia, to overturn a 30-year-old precedent that has for decades mediated the balance between freedom of conscience and the rights of minority groups.
Arguments, which will take place just a day after the presidential election , will mark the first major fight to come before Justice Amy Coney Barrett, who was sworn in a week ago.
The Supreme Court is set to hear a case concerning the rights of gay and lesbian Americans on Wednesday morning in a dispute that advocates are warning could pierce holes in the nation's anti-discrimination laws.
Philadelphia and two nonprofits that are challenging CSS in the case, Support Center for Child Advocates and Philadelphia Family Pride, argue that any standard that provides the agency the constitutional right to discriminate against same-sex couples would have broad ramifications.
"Catholic Social Services stands to be excluded from foster care, not because it broke any law, but because Philadelphia disagrees with its religious practices regarding marriage," an attorney for CSS, Mark Rienzi, told the justices in a filing.
In its appeal, Catholic Social Services has asked justices to overturn Smith and implement a new standard.
The Third Circuit ruling relied heavily on the 1990 Supreme Court precedent known as Employment Division v. Smith. The ruling, authored by the late conservative Justice Antonin Scalia, held that laws that burden religious exercise are typically permissible as long as they are generally applicable and do not target religion.
The 3rd U.S. Circuit Court of Appeals sided with Philadelphia in a unanimous decision in April 2019. Circuit Judge Thomas Ambro, writing for the court, said CSS failed to show that the city was motivated by anything other than "sincere opposition to discrimination on the basis of sexual orientation."
Philadelphia, on the other hand, has said it is entitled to enforce anti-discrimination policies in order to protect LGBT residents. The city says it is not hostile to religion, noting that its policies apply evenly to religious and secular government contractors.
The group, Catholic Social Services, is suing to defend its ability to refuse to work with same-sex households. In court papers, the group has argued that Philadelphia's moves unlawfully targeted its right to exercise its religion, which is protected under the First Amendment.
Cecelia Paul, deceased plaintiff in Fulton v Philadelphia, taken at her home in Philadelphia in May 2018
"It would mean governments' hands would be tied and they would not be able to enforce any anti-discrimination laws," according to Leslie Cooper, an ACLU attorney representing the nonprofits.
"The court has in a number of cases recognized that LGBT people must be treated with the same dignity and respect as others," Cooper said.
She said that in this case, a win for CSS "would essentially give anyone who objects to LGBT people and cites a religious basis for that the right to opt out of all those protections that achieved equal treatment for the LGBT community."
Lori Windham, who will be arguing in court on Wednesday for CSS, said those objections are exaggerated.
"It's completely overblown. Catholic Social Services has been partnering with women of color for decades to service a diverse population," Windham said. "They are asking to continue to do that."
While Smith has been on the books for three decades, there is good reason to suspect that the top court, now with a 6-3 majority of Republican-appointed justices, may overturn it. Just last year, four of the court's conservatives, Justices Samuel Alito, Clarence Thomas, Neil Gorsuch and Brett Kavanaugh, suggested obliquely they were open to doing so.
With Barrett on the bench, the court, already friendly to religion, is expected to become more so. But that doesn't necessarily mean she will vote to overturn Smith.
"She clerked for Justice Scalia. Will she, in the first week or so of her time on the court, be running toward overturning a three-decade-old precedent written by her old boss?" asked David Flugman a partner at the law firm Selendy & Gay with experience litigating high-profile civil rights cases.
But Flugman said that despite that nuance, Barrett's addition to the court likely added to the possibility of a sweeping ruling.
A win for CSS could take several possible forms. Katherine Franke, faculty director of the Law, Rights, and Religion Project at Columbia University, said it was possible the court could overturn Smith without explicitly crafting a new standard.
But based on recent cases in which the court has interpreted the federal Religious Freedom Restoration Act, Franke said it was more likely the court would create an higher standard for reviewing laws that affect religion than existed even before Smith was decided in 1990.
"Many of us in the business call this religious liberty on steroids," she said.
Flugman said the tension between religious freedom and LGBT equality at the heart of the case is the "fundamental issue in the LGBT rights space right now."
"The real world consequences of this could be really, really, really important to people," Flugman said. "From denial of health care, to exclusion from schools, or refusing to serve people in restaurants or not accommodating them in bed and breakfasts."
The court confronted a situation along those lines in the 2018 case known as Masterpiece Cakeshop, in which a Christian baker refused to make a wedding cake for a same-sex couple. The court sided with the baker, but did so on such narrow grounds that the ruling didn't apply to most other similar cases.
The Masterpiece decision, though just a few years old, may effectively be from another era. It was written by Justice Anthony Kennedy, the chief defender of LGBT rights on the Supreme Court, just weeks before he retired.
With Kennedy's departure, Franke said, the court embarked on a new phase in its religion cases, in which religious rights started to be elevated above all others.
"Justice Kennedy saw all the rights secured in the Constitution in a delicate balance with one another, where this current majority sees some rights as more fundamental than others," Franke said. "We are beginning to see a sort of tiering of rights, where some are top tier rights, and others are middle tier rights."
The conflict between those "top tier" rights — religion and gun rights, among others — and "middle tier" rights was on display last term, Franke said.
In rulings issued in June and July, the justices shielded religious schools from discrimination lawsuits brought by teachers, allowed religious employers to deny their workers access to free contraceptive coverage, and paved the way for religious schools to receive taxpayer dollars.
But the justices also upset religious conservatives by ruling, in the case Bostock v. Clayton County, that Title 7 of the Civil Rights Act protected gay and transgender workers from being fired on the basis of their sexual orientation or gender identity.
Franke noted that the cases favoring religion were written in soaring language, while Gorsuch's opinion defending gay and transgender workers was workmanlike — and left open the possibility that religious employers could claim an exemption from Title 7.
"I see that when these are going to come up against each other, the deep normative reasoning of the religious liberty cases will just overpower the mechanical reasoning of the equality cases or the reproductive rights cases," Franke said.
Mary Bonauto, an attorney at GLBTQ Legal Advocates & Defender, wrote in a filing submitted to the justices that Bostock and the court's previous cases had "profound significance for LGBTQ people's ability to sustain themselves and their families and to participate in the economic life of our nation."
Fulton, she wrote, puts that "incipient equal citizenship at serious risk."
A decision in the case is expected by the end of June. The case is Fulton v. City of Philadelphia, No. 19-123.


cnbc--2020-11-03--More than 94 million ballots have been cast ahead of Election Day, over two-thirds of 2016's turnout

Voters wait in line on the sidewalk for several hours to cast their ballots during early voting in the Brooklyn borough of New York City , New York , October 27 , 2020 .
Voters have cast more than 94 million ballots in the United States ahead of Election Day , according to the U.S .
Elections Project .
That figure represents more than 68 % of the total votes counted in 2016 , according to the site , which is compiled by University of Florida political science professor Michael McDonald .
It includes more than 34 million in-person votes @ @ @ @ @ @ @ mail-in ballots , according to the project , though some states do n't break out mail-in votes separately from in person .
Of the states that have party registration — which account for nearly half of the early voters so far — more than 45 % of those who have turned out or mailed in their ballots are registered Democrats .
Just over 30 % are registered Republicans , according to the website , while more than 23 % are not affiliated with a party .
Texas and Hawaii have both already exceeded @ @ @ @ @ @ @ at about 110 % of those voting levels .
Texas has become a surprising target of Democrats this year , a full cycle before many had projected changing demographics to swing the state in their favor .
Several other states are nearing 100 % of their 2016 turnout already , according to the U.S .
Elections Project .
Florida Georgia , Montana , Nevada , New Mexico , North Carolina and Washington , have all exceeded 90 % of total turnout in 2016 .
WATCH : 'It 's Americans doing their civic duty @ @ @ @ @ @ @ the U.S .

Voters line up on Election Day 2020 to cast their ballots at the Lions Club. Over 90 voters were in line when the polling site opened at 6 a.m, and then the line grew to hundreds stretching across a field.
Voters have cast more than 94 million ballots in the United States ahead of Election Day, according to the U.S. Elections Project.
That figure represents more than 68% of the total votes counted in 2016, according to the site, which is compiled by University of Florida political science professor Michael McDonald. It includes more than 34 million in-person votes as well as nearly 60 million returned mail-in ballots, according to the project, though some states don't break out mail-in votes separately from in person.
Of the states that have party registration — which account for nearly half of the early voters so far — more than 45% of those who have turned out or mailed in their ballots are registered Democrats. Just over 30% are registered Republicans, according to the website, while more than 23% are not affiliated with a party.
Texas and Hawaii have both already exceeded their total voter turnout in 2016, at about 110% of those voting levels. Texas has become a surprising target of Democrats this year, a full cycle before many had projected changing demographics to swing the state in their favor.
Several other states are nearing 100% of their 2016 turnout already, according to the U.S. Elections Project. Florida Georgia, Montana, Nevada, New Mexico, North Carolina and Washington, have all exceeded 90% of total turnout in 2016.
Subscribe to CNBC on YouTube.
WATCH: 'It's Americans doing their civic duty' — Early voters break records across the U.S.


cnbc--2020-11-03--Here's when key states will start counting election 2020 ballots

Election volunteer Nancy Gavney verifies voter and witness signatures on absentee ballots as they are counted at the City Hall during the presidential primary election held amid the coronavirus disease ( COVID-19 ) outbreak in Beloit , Wisconsin , April 7 , 2020 .
The flood of early votes — which was widely anticipated amid the coronavirus pandemic — has raised concerns about how long it will take mail and election systems in key states to process and tally all the ballots being sent in .
Record numbers of voters have already cast their ballots in the 2020 election cycle @ @ @ @ @ @ @ .
In most states , ballot processing precedes ballot counting .
Processing can involve steps such as verifying signatures or checking photocopies of identification documents , depending on the state .
In some states , processing may include scanning ballots , but not tabulating them until counting can begin .
States that start processing votes earlier may be able to avoid ballot-counting backlog , which could delay final results for days after next Tuesday 's election .
But some states do n't start processing votes until Election Day , including the all-important battlegrounds @ @ @ @ @ @ @ political implications at play .
President Donald Trump has loudly condemned the efforts of some state leaders to expand mail-in ballot access due to the pandemic , claiming without evidence that the new rules will cause widespread voter fraud .
The Trump campaign has filed lawsuits in multiple states , including Pennsylvania and Nevada , related to their mail-in ballot practices .
Far more Democrats than Republicans have voted by mail so far , according to data from 19 states compiled by the U.S .
Elections Project .
Former Vice President Joe Biden @ @ @ @ @ @ @ Trump in national polling averages .
The prospect of mail-in votes being added to states ' totals well after Election Day could prompt objections from elected officials , possibly including Trump , if the changes are significant .

Election volunteer Nancy Gavney verifies voter and witness signatures on absentee ballots as they are counted at the City Hall during the presidential primary election held amid the coronavirus disease (COVID-19) outbreak in Beloit, Wisconsin, April 7, 2020.
The flood of early votes — which was widely anticipated amid the coronavirus pandemic — has raised concerns about how long it will take mail and election systems in key states to process and tally all the ballots being sent in.
Record numbers of voters have already cast their ballots in the 2020 election cycle, whether by mail or in-person absentee.
In most states, ballot processing precedes ballot counting. Processing can involve steps such as verifying signatures or checking photocopies of identification documents, depending on the state. In some states, processing may include scanning ballots, but not tabulating them until counting can begin.
States that start processing votes earlier may be able to avoid ballot-counting backlog, which could delay final results for days after next Tuesday's election. But some states don't start processing votes until Election Day, including the all-important battlegrounds of Pennsylvania and Wisconsin.
There are political implications at play. President Donald Trump has loudly condemned the efforts of some state leaders to expand mail-in ballot access due to the pandemic, claiming without evidence that the new rules will cause widespread voter fraud. The Trump campaign has filed lawsuits in multiple states, including Pennsylvania and Nevada, related to their mail-in ballot practices.
Far more Democrats than Republicans have voted by mail so far, according to data from 19 states compiled by the U.S. Elections Project. Former Vice President Joe Biden, the Democratic nominee, is beating Trump in national polling averages.
The prospect of mail-in votes being added to states' totals well after Election Day could prompt objections from elected officials, possibly including Trump, if the changes are significant.


cnbc--2020-11-03--Joe Biden's fundraiser list includes more than 30 executives with Wall Street ties

The co-founder of Centerview , Blair Effron , is also on Biden 's new bundler list .
Others include Frank Baker , co-founder of private equity firm Siris Capital ; Bill Derrough , the DNC treasurer and managing director at the investment bank Moelis ; Mark Gallogly , co-founder of investment firm Centerbridge Partners ; Marc Lasry , the CEO of Avenue Capital Group ; and Robert Rubin , Bill Clinton 's Treasury secretary and now a counselor at the investment firm Centerview Partners .
Rubin was once co-chairman at Goldman Sachs .
The list includes two senior executives at @ @ @ @ @ @ @ the investment giant , and Tony James , the firm 's executive chairman .
The updated list was officially released late Saturday .
They have also given six-figure contributions to Biden 's joint fundraising committees and hosted virtual fundraising events .
The joint committees help raise funds for the campaign , the Democratic National Committee and state parties .
These bundlers called upon their expansive networks in business and philanthropy to give to the Biden campaign .
CNBC reviewed a new list of more than 800 Biden bundlers who raised at least $ @ @ @ @ @ @ @ that several of them had links to financial firms .
A few had been mentioned on the initial list of Biden fundraisers that was released in 2019 during the Democratic primary contests .
Over 30 executives with ties to Wall Street have raised big money for Democrat Joe Biden 's presidential campaign .
Lasry , co-owner of the Milwaukee Bucks , ended up raising over $ 3 million , according to a person with direct knowledge of the matter .
This person declined to be named as the total had yet to be @ @ @ @ @ @ @ Sunday that he has helped bring in just over $ 1 million .
Several lawyers connected to the finance industry helped fundraise for Biden throughout the 2020 election .
Brad Karp , chairman of the legal juggernaut Paul , Weiss , is one of those attorneys .
He lists Citigroup , JPMorgan , Bank of America , Morgan Stanley , Goldman Sachs , Blackstone and Apollo Global Management as clients .
Jon Henes , a partner at Kirkland & Ellis and a leading restructuring and corporate governance advisor , also is on the @ @ @ @ @ @ @ Sen. Kamala Harris ' national finance chair when she was running for president .
Faiza Saeed , a partner at Cravath , Swaine & Moore , `` advises public companies , boards of directors and special committees in connection with M & A , corporate governance and crisis management , '' according to the firm 's website .
Under the featured work section of the site , Saeed lists Viacom 's recent acquisition of CBS and a deal that was made between Occidental Petroleum and longtime investor Carl Icahn .
Though the Biden @ @ @ @ @ @ @ these financiers ending up hitting the top fundraising tier of at least $ 2.5 million , their efforts clearly gave the former vice president 's war chest a boost .
The jump in fundraising that Biden received in the third quarter alone allowed him to surge ahead of President Donald Trump in ad spending .
A recent study by the Wesleyan Media Project found that Biden 's campaign has spent over $ 560 million on TV , digital and radio ads .
Trump , meanwhile , has spent just over $ 425 million @ @ @ @ @ @ @ from these leaders on Wall Street also reflects the support Biden has gained from the finance industry since he became the Democratic nominee for president .
`` I think first and foremost it 's that he represents a sense of normalcy and decency , '' Derrough said in describing his success in helping raise money from Wall Street leaders .
`` If you think about the finance world in general , they do n't want any surprises .
They want predictability .
We 've had a lot of unpredictability over the last four @ @ @ @ @ @ @ over $ 13 million from those working in the securities and investment sector , according to the nonpartisan Center for Responsive Politics .
At least $ 74 million from people in Wall Street firms went toward various efforts supporting his candidacy , including pro-Biden super PACs .

In this article BX
GS Follow your favorite stocks CREATE FREE ACCOUNT
watch now
Over 30 executives with ties to Wall Street have raised big money for Democrat Joe Biden's presidential campaign. CNBC reviewed a new list of more than 800 Biden bundlers who raised at least $100,000 for the campaign, and found that several of them had links to financial firms. A few had been mentioned on the initial list of Biden fundraisers that was released in 2019 during the Democratic primary contests. These bundlers called upon their expansive networks in business and philanthropy to give to the Biden campaign. They have also given six-figure contributions to Biden's joint fundraising committees and hosted virtual fundraising events. The joint committees help raise funds for the campaign, the Democratic National Committee and state parties. The list includes two senior executives at Blackstone: Jonathan Gray, president of the investment giant, and Tony James, the firm's executive chairman. The updated list was officially released late Saturday. Others include Frank Baker, co-founder of private equity firm Siris Capital; Bill Derrough, the DNC treasurer and managing director at the investment bank Moelis; Mark Gallogly, co-founder of investment firm Centerbridge Partners; Marc Lasry, the CEO of Avenue Capital Group; and Robert Rubin, Bill Clinton's Treasury secretary and now a counselor at the investment firm Centerview Partners. Rubin was once co-chairman at Goldman Sachs. The co-founder of Centerview, Blair Effron, is also on Biden's new bundler list.
watch now
Lasry, co-owner of the Milwaukee Bucks, ended up raising over $3 million, according to a person with direct knowledge of the matter. This person declined to be named as the total had yet to be made public. Derrough told CNBC on Sunday that he has helped bring in just over $1 million. Several lawyers connected to the finance industry helped fundraise for Biden throughout the 2020 election. Brad Karp, chairman of the legal juggernaut Paul, Weiss, is one of those attorneys. He lists Citigroup, JPMorgan, Bank of America, Morgan Stanley, Goldman Sachs, Blackstone and Apollo Global Management as clients. Jon Henes, a partner at Kirkland & Ellis and a leading restructuring and corporate governance advisor, also is on the list of Biden bundlers. Henes was Sen. Kamala Harris' national finance chair when she was running for president. Faiza Saeed, a partner at Cravath, Swaine & Moore, "advises public companies, boards of directors and special committees in connection with M&A, corporate governance and crisis management," according to the firm's website. Under the featured work section of the site, Saeed lists Viacom's recent acquisition of CBS and a deal that was made between Occidental Petroleum and longtime investor Carl Icahn. Though the Biden campaign did not say how many of these financiers ending up hitting the top fundraising tier of at least $2.5 million, their efforts clearly gave the former vice president's war chest a boost. The jump in fundraising that Biden received in the third quarter alone allowed him to surge ahead of President Donald Trump in ad spending. A recent study by the Wesleyan Media Project found that Biden's campaign has spent over $560 million on TV, digital and radio ads. Trump, meanwhile, has spent just over $425 million over those platforms. The fundraising assistance from these leaders on Wall Street also reflects the support Biden has gained from the finance industry since he became the Democratic nominee for president. "I think first and foremost it's that he represents a sense of normalcy and decency," Derrough said in describing his success in helping raise money from Wall Street leaders. "If you think about the finance world in general, they don't want any surprises. They want predictability. We've had a lot of unpredictability over the last four years." Biden's campaign saw over $13 million from those working in the securities and investment sector, according to the nonpartisan Center for Responsive Politics. At least $74 million from people in Wall Street firms went toward various efforts supporting his candidacy, including pro-Biden super PACs.
watch now
Going into the final two weeks of the election, Biden, the DNC and their joint fundraising committees had over $330 million on hand. That's $110 million more than for Trump, the Republican National Committee and their joint committees. Biden's campaign is on track to raise $1 billion by Tuesday's Election Day. Beyond those from Wall Street, Biden's campaign saw fundraising help from leaders in Silicon Valley, including LinkedIn co-founder Reid Hoffman and venture capitalist Ron Conway. Political leaders such as former South Bend, Indiana, Mayor Pete Buttigieg, Michigan Gov. Gretchen Whitmer and Sen. Amy Klobuchar, are also on the list. Partial list of executives with ties to Wall Street helping Biden: Frank Baker Brett Barth Jim Chanos Mark Chorazak David Clunie William Derrough Roger Altman Blair Effron Jon Feigelson Mark Gallogly John Rogers Jon Gray Tony James Jon Henes Sonny Kalsi Orin Kramer Brad Krap Brian Kreiter Marc Lasry Nate Loewenthall Eric Mindich Kara Moore Charles Myers Alan Patricof Deven Parekh Robert Rubin Evan Roth Faiza Saeed Rajen Shah Jay Snyder Rob Stavis Jeff Zients