cnbc--2020-03-25--Trump mocks coronavirus fear for Mitt Romney, Michael Avenatti

U.S. President Donald Trump pauses during a Coronavirus Task Force news conference in the briefing room of the White House in Washington , D.C. , U.S. , on Sunday , March 22 , 2020 .
President Donald Trump , in the midst of the biggest global health crisis in a century , used Twitter on Wednesday to take sarcastic shots at several of his perceived enemies over coronavirus fears .
After expressing purported concern over the health of Sen. Mitt Romney , R-Utah , and disgraced lawyer Michael Avenatti , Trump retweeted items sniping at Democratic presidential frontrunner Joe Biden @ @ @ @ @ @ @ Rep. Adam Schiff , D-Calif. , a manager at Trump 's impeachment trial .
Romney , the 2012 Republican presidential nominee , tested negative for the coronavirus on Tuesday , a month after voting to remove Trump from office on an impeachment article of abuse of power .
`` Gee , that 's too bad , '' Trump quipped at a White House press conference on Monday after a reporter said Romney was in self-isolation because of having been exposed to Sen. Rand Paul , R-Ky. , who tested positive for COVID-19 .
@ @ @ @ @ @ @ the president breezily said that day when the reporter asked if he was being sarcastic .
In a tweet Wednesday , Trump claimed to be happy with Romney 's negative diagnosis but called his fellow GOP-member a Republican in name only .
`` This is really great news !
I am so happy I can barely speak .
He may have been a terrible presidential candidate and an even worse U.S .
Senator , but he is a RINO , and I like him a lot ! ''
Romney is the only Republican @ @ @ @ @ @ @ during his impeachment trial .
About an hour after that tweet , Trump teed off in his tweet on Avenatti , who previously represented porn star Stormy Daniels in her legal battles with the president .
The cases were related to hush money payments to Daniels by Trump 's own attorney before the 2016 election to keep her quiet about a purported sexual tryst she had with Trump .
The president denies Daniels ' claim , but repaid Cohen for the hush money payout .
Avenatti , who was convicted last month of @ @ @ @ @ @ @ scheme against shoe giant Nike , recently had his request for bail denied by a judge .
Avenatti 's lawyers had argued that he was at risk of contracting coronavirus in jail .
`` Gee , that 's too bad , '' Trump tweeted about Avenatti 's release being denied .
`` Such a fine guy .
Presidential aspirations you know ! ''
Trump quipped , referring to Avenatti 's short-lived flirtation with running for the White House at the height of his media fame in 2018 .
On Tuesday , Trump 's @ @ @ @ @ @ @ , who is serving three years in federal prison for crimes related to the Daniels payment and to financial misdeeds , saw his own bid for release to home confinement on coronavirus grounds shot down by another judge .

U.S. President Donald Trump pauses during a Coronavirus Task Force news conference in the briefing room of the White House in Washington, D.C., U.S., on Sunday, March 22, 2020.
President Donald Trump, in the midst of the biggest global health crisis in a century, used Twitter on Wednesday to take sarcastic shots at several of his perceived enemies over coronavirus fears.
After expressing purported concern over the health of Sen. Mitt Romney, R-Utah, and disgraced lawyer Michael Avenatti, Trump retweeted items sniping at Democratic presidential frontrunner Joe Biden, former special counsel Robert Mueller and Rep. Adam Schiff, D-Calif., a manager at Trump's impeachment trial.
Romney, the 2012 Republican presidential nominee, tested negative for the coronavirus on Tuesday, a month after voting to remove Trump from office on an impeachment article of abuse of power.
"Gee, that's too bad," Trump quipped at a White House press conference on Monday after a reporter said Romney was in self-isolation because of having been exposed to Sen. Rand Paul, R-Ky., who tested positive for COVID-19.
"No, none whatsoever," the president breezily said that day when the reporter asked if he was being sarcastic.
In a tweet Wednesday, Trump claimed to be happy with Romney's negative diagnosis but called his fellow GOP-member a Republican in name only.
"This is really great news! I am so happy I can barely speak. He may have been a terrible presidential candidate and an even worse U.S. Senator, but he is a RINO, and I like him a lot!"
Romney Tweet
Romney is the only Republican senator to have voted to convict Trump during his impeachment trial.
Tweet
About an hour after that tweet, Trump teed off in his tweet on Avenatti, who previously represented porn star Stormy Daniels in her legal battles with the president.
The cases were related to hush money payments to Daniels by Trump's own attorney before the 2016 election to keep her quiet about a purported sexual tryst she had with Trump. The president denies Daniels' claim, but repaid Cohen for the hush money payout.
Avenatti, who was convicted last month of federal criminal charges related to an extortion scheme against shoe giant Nike, recently had his request for bail denied by a judge. Avenatti's lawyers had argued that he was at risk of contracting coronavirus in jail.
"Gee, that's too bad," Trump tweeted about Avenatti's release being denied.
"Such a fine guy. Presidential aspirations you know!" Trump quipped, referring to Avenatti's short-lived flirtation with running for the White House at the height of his media fame in 2018.
Avenatti Tweet
On Tuesday, Trump's former personal lawyer and fixer Michael Cohen, who is serving three years in federal prison for crimes related to the Daniels payment and to financial misdeeds, saw his own bid for release to home confinement on coronavirus grounds shot down by another judge.


cnbc--2020-03-25--Coronavirus is disrupting the 2020 election. Here's a list of all the primaries that have been postp

Coronavirus is disrupting the 2020 election. Here's a list of all the primaries that have been postponed

As the coronavirus spreads rapidly across the U.S. , measures to contain the deadly pathogen are playing unprecedented havoc with the 2020 election and disrupting the process of selecting the Democratic nominee .
Several states and territories have postponed their 2020 presidential primaries in response to the coronavirus outbreak that has roiled markets and prompted several governors to impose statewide lockdowns .
The delays are among the hardships faced by former Vice President Joe Biden and Sen. Bernie Sanders as they compete amid an uncertain political landscape for the chance to take on President Donald Trump in November .
Both @ @ @ @ @ @ @ a race that at one point saw more than two dozen , have stopped holding in-person events , instead opting to reach voters digitally .
The most recent Democratic debate between the two men , held on March 15 , was moved to Washington from Las Vegas and was conducted without a live audience .
Biden , with a commanding lead in pledged delegates , appears poised to win the contest .
Sanders has yet to drop out of the race , though he has said he is considering his options .
To @ @ @ @ @ @ @ and local officials are taking drastic steps , in some cases shutting most retail and asking residents to stay home .
`` Social distancing '' has become the norm , as people are asked to keep at least six feet apart to decrease the risk of transmitting the virus .
The fear that in-person voting could spread the virus has prompted state officials and election commissioners to consider alternatives for conducting their presidential primaries .
Here are the states that have so far postponed their primary election dates : The state was supposed @ @ @ @ @ @ @ 24 but has postponed it to May 19 , a spokeswoman for the Georgia Democratic Committee told CNBC .
The decision came shortly after Gov .
Brian Kemp said he was declaring a public health state of emergency in response to the growing number of coronavirus cases in the state .
Indiana will have its 2020 primary on June 2 , Gov .
Eric Holcomb announced .
It was originally planned for May 5 .
`` My view on that fast-approaching primary election is it needed to be pushed back in order to @ @ @ @ @ @ @ employees , the poll workers , and the voters themselves , '' Holcomb said in a briefing .
The state is postponing its primary to June 2 , Gov .
Larry Hogan announced .
The original date was April 28 .
`` I have two main priorities : keeping Marylanders safe and protecting their constitutional right to vote , '' Hogan said at a press conference announcing the postponement .
Hogan said he did n't want to `` put Marylanders at risk , especially the poll workers and the election judges , most @ @ @ @ @ @ @ most vulnerable population . ''
Officials in Ohio are looking at June 2 as a new date for the presidential primary .
Gov .
Mike DeWine was originally blocked by the courts from postponing the primary on March 17 , the original date .
But right before the primary , the state 's health department intervened , issuing an order at the last minute to close the polls due to health concerns brought on by the outbreak .
The decision to reschedule the primary is now pending approval from the courts .
Rhode @ @ @ @ @ @ @ 2 from the originally planned April 28 , Gov .
Gina Raimondo announced .
The Rhode Island Board of Elections voted to postpone the state 's primary from April 28 to June 2 , the board 's deputy director of elections , Miguel Nunez , told CNBC .
But the decision had been `` pending the governor signing an emergency order , '' Nunez said .
`` I am following the advice of the Board of Elections , and will sign an executive order to do this , '' Raimondo said in a @ @ @ @ @ @ @ nominating contest to June 23 from the originally planned May 19 , Secretary of State Michael Adams announced .
He said he made the decision with Gov .
Andy Beshear during what he called `` unprecedented times . ''
`` My hope is that this delay will allow us to have a normal election , '' Adams said in a video posted to Twitter .
Other states have adjusted their election schedules as the coronavirus pandemic rages across the country , paralyzing normal activity .
Wyoming has canceled the in-person portion of its @ @ @ @ @ @ @ April 4 , encouraging mail-in votes instead and also urging voters to pick up and drop off individual ballots .
Alaska , whose primary is scheduled for the same date , also canceled the in-person voting portion , replacing it with `` a more extensive vote-by-mail process , '' the Alaska Democratic Party Executive Committee said in a release .
West Virginia will most likely not postpone its primary on May 12 , Mike Queen , deputy chief of staff and communications director for the secretary of state 's office , said to @ @ @ @ @ @ @ 1.2 million voters to fill out absentee ballots , but has taken precautions for anyone planning to vote in person .
`` We are maintaining the space requirements that the CDC has recommended , '' Queen said .
`` And we are only allowing so many people in the polling locations at any time .
We have looked into the purchase of wipes and screen wipes to sanitize [ the polling spaces and locations ] .
We have the luxury of a month to pull this plan together .
We 're a little @ @ @ @ @ @ @ . ''
Nebraska is also `` unlikely '' to postpone its May 12 primary , Cindi Allen , assistant secretary of state , told CNBC .
There are still 11 more Democratic primary dates , with 26 states and territories gearing up to cast ballots .
Delegate-rich New York , with 274 delegates , is set to hold primaries on April 28 .
Despite these disruptions , the Democratic National Committee has indicated that it plans to move forward with its convention set for July 13-16 .
`` As we navigate the unprecedented @ @ @ @ @ @ @ we 're exploring a range of contingency options to ensure we can deliver a successful convention without unnecessary risk to public health , '' said Katie Peters , communications director for the Democratic National Convention Committee .
`` This is a very fluid situation — and the convention is still more than three months away .
We are committed to sharing updates with the public in the coming weeks and months as our plans continue to take shape . ''
The coronavirus , which is believed to have originated in Wuhan , China @ @ @ @ @ @ @ , with more than 387,382 confirmed cases worldwide and at least 16,767 deaths so far , according to data from Johns Hopkins University .
There are at least 46,450 cases in the United States and at least 595 deaths , according to the latest tallies .
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A man casts his vote during the Florida primary election in Miami, Florida, on March 17, 2020. Eva Marie uzcategui | AFP | Getty Images
As the coronavirus spreads rapidly across the U.S., measures to contain the deadly pathogen are playing unprecedented havoc with the 2020 election and disrupting the process of selecting the Democratic nominee. Several states and territories have postponed their 2020 presidential primaries in response to the coronavirus outbreak that has roiled markets and prompted several governors to impose statewide lockdowns. Former Vice President Joe Biden became the last competitor and apparent nominee after Sen. Bernie Sanders announced he was dropping out of the race. To get ahead of the outbreak, state and local officials are taking drastic steps, in some cases shutting most retail and asking residents to stay home. "Social distancing" has become the norm, as people are asked to keep at least six feet apart to decrease the risk of transmitting the virus. The fear that in-person voting could spread the virus has prompted state officials and election commissioners to consider alternatives for conducting their elections. Here are the states and territories that have so far postponed their primary dates:
Puerto Rico
Though not a U.S. state, Puerto Rico has voting power in the presidential primary. The territory has decided to postpone its Democratic presidential primary indefinitely. Originally, Puerto Rico had postponed its Democratic primary from March 29 to April 26. Gov. Wanda Vazquez Garced signed a bill into law on March 22 to postpone the primary. Puerto Rico has 51 delegates.
Ohio
Officials in Ohio set April 28 as the new date for the state's presidential primary after originally eyeing June 2. Officials also launched a public service announcement encouraging Ohio residents to vote by mail. Gov. Mike DeWine was originally blocked by the courts from postponing the primary on March 17, the original date. But right before the primary, the state's health department intervened, issuing an order at the last minute to close the polls due to health concerns brought on by the outbreak. Ohio has 136 delegates.
Delaware
The state has postponed its primary to June 2, Gov. John Carney announced. It was originally planned for April 28. "We moved Delaware's presidential primary to June 2, 2020," Carney tweeted. "Delawareans have a basic, fundamental right to vote. Today's order will preserve that right." Tweet Delaware has 21 delegates.
Indiana
Indiana will have its 2020 primary on June 2, Gov. Eric Holcomb announced. It was originally planned for May 5. "My view on that fast-approaching primary election is it needed to be pushed back in order to again ensure the safety of our county employees, the poll workers, and the voters themselves," Holcomb said in a briefing. The state has 82 delegates.
Maryland
The state is postponing its primary to June 2, Gov. Larry Hogan announced. The original date was April 28. "I have two main priorities: keeping Marylanders safe and protecting their constitutional right to vote," Hogan said at a press conference announcing the postponement. Hogan said he didn't want to "put Marylanders at risk, especially the poll workers and the election judges, most of whom are retirees and in the most vulnerable population." Maryland has 96 delegates.
Pennsylvania
Lawmakers in Pennsylvania voted to postpone the state's primary from April 28 to June 2. Both chambers of the Republican-controlled state legislature voted in favor of postponing the primary, and Pennsylvania Gov. Tom Wolf signed the bill. The state has 186 delegates.
Rhode Island
Rhode Island moved its 2020 primary to June 2 from the originally planned April 28, Gov. Gina Raimondo announced. The Rhode Island Board of Elections voted to postpone the state's primary from April 28 to June 2, the board's deputy director of elections, Miguel Nunez, told CNBC. But the decision had been "pending the governor signing an emergency order," Nunez said. "I am following the advice of the Board of Elections, and will sign an executive order to do this," Raimondo said in a tweet. Tweet Rhode Island has 26 delegates.
Georgia
The state was supposed to hold its primary election on March 24 but has postponed twice. The election will now be held on June 9. It was originally delayed to May 19, a spokeswoman for the Georgia Democratic Committee told CNBC in March. "I certainly realize that every difficulty will not be completely solved by the time in-person voting begins for the June 9 election, but elections must happen in less-than-ideal circumstances," Georgia's Secretary of State Brad Raffensperger said. "This postponement allows us to provide additional protection and safety resources to county election officials, poll workers and voters." Georgia has 105 delegates.
West Virginia
West Virginia postponed its primary to June 9 from the originally planned May 12. The state was unlikely to postpone its primary, Mike Queen, deputy chief of staff and communications director for the secretary of state's office, said to CNBC. The state was urging its 1.2 million voters to fill out absentee ballots, but had taken precautions for anyone planning to vote in person. West Virginia has 28 delegates.
Wisconsin
Wisconsin Gov. Tony Evers said in a release that in-person voting is suspended until June 9. The original voting date was April 7. "As municipalities are consolidating polling locations, and absent legislative or court action, I cannot in good conscience stand by and do nothing," Evers said in a release from his office. "The bottom line is that I have an obligation to keep people safe, and that's why I signed this executive order." He called for a special legislative session just days before the state's original primary date to cancel the in-person portion of voting. He said the state aims to shift to an all-mail voting system for the primary with a deadline of May 26 to get ballots in. But the effort got shut down. Wisconsin has 84 delegates.
Kentucky
The state will move its nominating contest to June 23 from the originally planned May 19, Secretary of State Michael Adams announced. He said he made the decision with Gov. Andy Beshear during what he called "unprecedented times." "My hope is that this delay will allow us to have a normal election," Adams said in a video posted to Twitter. Tweet Kentucky has 54 delegates.
New York
The New York State Board of Elections on Monday canceled its Democratic presidential primary, scheduled for June 23, after striking off Sen. Bernie Sanders' name from the ballot. "I think it's time for us to recognize that the presidential contest is over," Commissioner Doug Kellner explained during a livestream announcing the decision. Despite dropping out of the race, Sanders urged his followers to vote for him in the remaining primaries in order to pick up delegates and influence the party platform at the Democratic National Convention, which is slated for August. Originally, New York Gov. Andrew Cuomo announce the state would move its presidential primary from April 28 to June 23 to ensure that people don't congregate in large crowds. "I don't think it's wise to be bringing a lot of people to one location to vote, a lot of people touching one doorknob, a lot of people touching one pen," Cuomo said in a press conference. "So we are going to delay that." Cuomo also announced that all "New Yorkers will be able to vote absentee on the June 23rd primaries." Tweet New York has 274 delegates.
New Jersey
New Jersey Gov. Phil Murphy said the state's primary will be moved from June 2 to July 7. "Our democracy cannot be a casualty of COVID-19," Murphy said in a tweet. "We want to ensure that every voter can vote without endangering their health or safety." Tweet The state has 126 delegates.
Louisiana
The state postponed its presidential primary twice, making the new voting date July 11. Louisiana was the first state to postpone its presidential primary, rescheduling it the first time to June 20 from the originally planned April 4. "We want to protect the health and safety of all Louisianans by doing our part to prevent the spread of this highly infectious disease," Secretary of State Kyle Ardoin told reporters. The state has 54 delegates.
Connecticut
Connecticut has moved its 2020 primary to Aug. 11, the second time its 2020 presidential nominating contest was delayed. It was originally delayed to June 2 from the originally planned April 28, Gov. Ned Lamont announced. "In coordination with other states and our Secretary of the State, and in an effort to carry out Democracy while keeping public health a top priority, I have decided to move our presidential primary to June 2nd," Lamont tweeted. Tweet Connecticut has 60 delegates.
Other state actions


cnbc--2020-03-26--Bernie Sanders threatens to hold up coronavirus bill after 4 GOP senators push to cut unemployment a

Bernie Sanders threatens to hold up coronavirus bill after 4 GOP senators push to cut unemployment aid

The prospect of an impasse in the Senate appeared to hit U.S. stock indexes at the end of Wednesday 's session , as markets closed in the green but off their highs .
Investors hoped Congress could quickly approve the legislation , which gives direct payments to Americans , loans to businesses large and small , and resources to states and hospitals to fight the outbreak .
Sen. Bernie Sanders , I-Vt. , then said he would delay the bill if his GOP colleagues did not drop their opposition , calling it an `` outrage '' to prevent Americans from @ @ @ @ @ @ @ statement , he said he is `` prepared to put a hold on this bill '' to lobby for tighter restrictions on companies receiving aid from a taxpayer pool of $ 500 billion .
Earlier in the day , four Republican senators — Lindsey Graham and Tim Scott of South Carolina , Ben Sasse of Nebraska and Rick Scott of Florida — threatened to oppose the chamber 's push to pass the rescue package through fast-track procedures .
They argued a proposal to add $ 600 per week to unemployment insurance for up @ @ @ @ @ @ @ of the near-final legislation , could encourage companies to lay off workers and Americans to stay unemployed , urging a vote to cap the aid .
( Sasse introduced an amendment Wednesday night saying the benefits should not exceed previous pay ) .
Chances for a planned Senate vote Wednesday on a historic $ 2 trillion relief package in response to the coronavirus pandemic appeared to dwindle as senators threatened to delay it over a key unemployment insurance proposal .
Asked about the GOP senators ' criticism of the unemployment plan during a @ @ @ @ @ @ @ Steven Mnuchin said `` I do n't think it 'll create incentives '' not to work .
He said state systems were not equipped to assure Americans would only get benefits equal to their previous pay , adding `` this was the only way we could assure that states could get money out quickly in a fair way . ''
`` Our expectation is this bill passes tonight and gets to the House tomorrow , '' he said .
Lawmakers rushed to put together the stimulus plan , which the Senate hopes to @ @ @ @ @ @ @ starts during frenzied negotiations in recent days .
After Democrats blocked an earlier version of the legislation twice to try to secure concessions , Republicans accused them of delaying aid desperately needed to boost a reeling economy and health-care system .
House Majority Leader Steny Hoyer , D-Md.
, said Wednesday that he would give representatives 24 hours ' notice before a vote on the relief package .
By about 7 p.m .
ET , the Senate had not released the final version of its legislation .
House Speaker Nancy Pelosi told PBS @ @ @ @ @ @ @ to pass the bill by voice vote with the vast majority of representatives still out of Washington .
If a member requests a recorded vote to document individual responses , lawmakers would have to come back to the Capitol .
First , though , the Senate has to overcome its remaining hurdles to approve the package .
Pelosi criticized the GOP senators for their opposition to the legislation .
`` Please do n't resent our lowest paid workers in America for getting $ 600 , '' she said .
The emergency unemployment insurance @ @ @ @ @ @ @ and Republicans , including the Trump administration , aims to help workers hit by widespread layoffs as regular businesses in the U.S. ground to a halt to slow the pandemic 's spread .
Earlier Wednesday , the four Republican senators said some workers would get more money from the insurance than they did from their jobs .
`` Let 's just make sure we make people whole .
Let 's not increase their salary , because you ca n't afford to do that , '' Graham told reporters .
In response to the @ @ @ @ @ @ @ aide said that `` we 'll have to do something '' to secure their support .
Taylor Foy , a spokesman for the Senate Finance Committee , which drafted the unemployment provision , said `` nothing in this bill incentivizes businesses to lay off employees , in fact it 's just the opposite . ''
He noted that the legislation aims to both make sure companies have enough money to cover payroll and create a stronger unemployment insurance program for those who lose their jobs .
`` This increase is designed to make @ @ @ @ @ @ @ also important to remember that nobody who voluntarily leaves an available job is eligible for [ unemployment insurance ] , '' he said .

The prospect of an impasse in the Senate appeared to hit U.S. stock indexes at the end of Wednesday's session, as markets closed in the green but off their highs. Investors hoped Congress could quickly approve the legislation, which gives direct payments to Americans, loans to businesses large and small, and resources to states and hospitals to fight the outbreak.
Sen. Bernie Sanders , I-Vt., then said he would delay the bill if his GOP colleagues did not drop their opposition, calling it an "outrage" to prevent Americans from getting emergency unemployment insurance. In a statement, he said he is "prepared to put a hold on this bill" to lobby for tighter restrictions on companies receiving aid from a taxpayer pool of $500 billion.
Earlier in the day, four Republican senators — Lindsey Graham and Tim Scott of South Carolina, Ben Sasse of Nebraska and Rick Scott of Florida — threatened to oppose the chamber's push to pass the rescue package through fast-track procedures. They argued a proposal to add $600 per week to unemployment insurance for up to four months, a core provision of the near-final legislation, could encourage companies to lay off workers and Americans to stay unemployed, urging a vote to cap the aid. (Sasse introduced an amendment Wednesday night saying the benefits should not exceed previous pay).
Chances for a planned Senate vote Wednesday on a historic $2 trillion relief package in response to the coronavirus pandemic appeared to dwindle as senators threatened to delay it over a key unemployment insurance proposal.
Asked about the GOP senators' criticism of the unemployment plan during a White House briefing Wednesday, Treasury Secretary Steven Mnuchin said "I don't think it'll create incentives" not to work. He said state systems were not equipped to assure Americans would only get benefits equal to their previous pay, adding "this was the only way we could assure that states could get money out quickly in a fair way."
"Our expectation is this bill passes tonight and gets to the House tomorrow," he said.
Lawmakers rushed to put together the stimulus plan, which the Senate hopes to pass by Wednesday night after several false starts during frenzied negotiations in recent days. After Democrats blocked an earlier version of the legislation twice to try to secure concessions, Republicans accused them of delaying aid desperately needed to boost a reeling economy and health-care system.
House Majority Leader Steny Hoyer, D-Md., said Wednesday that he would give representatives 24 hours' notice before a vote on the relief package. By about 7 p.m. ET, the Senate had not released the final version of its legislation.
House Speaker Nancy Pelosi told PBS on Wednesday that the chamber could try to pass the bill by voice vote with the vast majority of representatives still out of Washington. If a member requests a recorded vote to document individual responses, lawmakers would have to come back to the Capitol.
First, though, the Senate has to overcome its remaining hurdles to approve the package. Pelosi criticized the GOP senators for their opposition to the legislation.
"Please don't resent our lowest paid workers in America for getting $600," she said.
The emergency unemployment insurance provision, a compromise reached between Democrats and Republicans, including the Trump administration, aims to help workers hit by widespread layoffs as regular businesses in the U.S. ground to a halt to slow the pandemic's spread. Earlier Wednesday, the four Republican senators said some workers would get more money from the insurance than they did from their jobs.
"Let's just make sure we make people whole. Let's not increase their salary, because you can't afford to do that," Graham told reporters.
In response to the lawmakers' concerns, a senior GOP aide said that "we'll have to do something" to secure their support.
Taylor Foy, a spokesman for the Senate Finance Committee, which drafted the unemployment provision, said "nothing in this bill incentivizes businesses to lay off employees, in fact it's just the opposite." He noted that the legislation aims to both make sure companies have enough money to cover payroll and create a stronger unemployment insurance program for those who lose their jobs.
"This increase is designed to make the average worker whole. It's also important to remember that nobody who voluntarily leaves an available job is eligible for [unemployment insurance]," he said.


cnbc--2020-03-26--Cuomo says Senate's $2 trillion coronavirus bill would be 'terrible' for New York

The Senate 's $ 2 trillion coronavirus relief bill may be the largest rescue package in U.S. history , but it does n't provide nearly enough for New York state , Gov .
Andrew Cuomo said Wednesday .
The bill , tentatively approved early Wednesday , `` would really be terrible for the state of New York , '' Cuomo said at his daily briefing in Albany .
Cuomo 's criticism came as White House officials made clear that President Donald Trump plans to sign the massive relief bill into law as soon as Congress sends it to him .
@ @ @ @ @ @ @ billion for New York State , of which only $ 1.3 billion will be sent to New York City .
`` Sounds like a lot of money , '' Cuomo said .
But it 's far below the shortfall in revenue that the state projects it will face , which the governor said could total $ 15 billion .
`` That is a drop in the bucket '' compared with what New Yorkers need , he said .
`` How do you plug a $ 15 billion hole with $ 3.8 billion ?
@ @ @ @ @ @ @ spokeswoman Dani Lever suggested in a statement later Wednesday that the Senate bill would give New York even less than what the governor initially outlined .
`` Based on initial reports , New York State government gets approximately $ 3.1 billion , '' Lever said in the statement .
`` As a percent of our total state budget – 1.9 % – it is the second lowest amount in the nation . ''
`` The gross political manipulation is obvious , '' Lever said .
`` Compounding this inequity is the fact that @ @ @ @ @ @ @ federal government than any other state in the nation .
It is just another case of politics over sound policy . ''
New York has become the epicenter of the U.S. coronavirus outbreak .
More than 30,000 COVID-19 cases have been counted across the state as of Wednesday morning , accounting for more than half of all confirmed cases in the country .
New York City may close parks , playgrounds and some streets to reduce density in the latest effort to contain the virus , the governor said Wednesday .
`` In @ @ @ @ @ @ @ to do , '' he said .
The White House and leaders of both parties in the Senate reached the stimulus deal around 1:30 a.m. following days of partisan debate in Congress and numerous late-night negotiating sessions .
Senate Majority Leader Mitch McConnell , R-Ky. , said his chamber will vote and pass the legislation later Wednesday , though the final details of the bill were still being ironed out by the early afternoon .
A senior Democratic aide told CNBC procedural hurdles made it unlikely the House will vote on the bill @ @ @ @ @ @ @ the back-and-forth over the provisions this week , House Speaker Nancy Pelosi released her own proposal , which laid out the Democrats ' agenda and was criticized by Republicans as an ideological wish list .
Cuomo , however , said Pelosi 's plan would have provided more for New York than the current bill in the Senate .
`` We need more federal help than this bill gives us .
The House bill would have given us $ 17 billion .
The Senate bill gives us $ 3 billion , '' Cuomo said @ @ @ @ @ @ @ dramatic difference . ''
Trump and Cuomo , a Democrat , have been in close coordination amid New York 's sharp rise in cases — and each has alternated between being deferential with each other and feuding about their efforts to combat the virus .
White House press secretary Stephanie Grisham said Wednesday morning that Trump is aware of the contents of the Senate 's bill and is eager to sign it .
`` He 's been pushing for Congress to do the right thing and get ready help the American people .
@ @ @ @ @ @ @ this vote today so that he can sign it into law , '' Grisham said on Fox News .
-- CNBC 's William Feuer and Lauren Hirsch contributed to this report .

New York Gov. Andrew Cuomo speaks during a news conference against a backdrop of medical supplies at the Jacob Javits Center that will house a temporary hospital in response to the COVID-19 outbreak, Tuesday, March 24, 2020, in New York. John Minchillo | AP
The Senate's $2 trillion coronavirus relief bill may be the largest rescue package in U.S. history, but it doesn't provide nearly enough for New York state, Gov. Andrew Cuomo said Wednesday. The bill, tentatively approved early Wednesday, "would really be terrible for the state of New York," Cuomo said at his daily briefing in Albany. Cuomo's criticism came as White House officials made clear that President Donald Trump plans to sign the massive relief bill into law as soon as Congress sends it to him. Cuomo said the bill provides $3.8 billion for New York State, of which only $1.3 billion will be sent to New York City. "Sounds like a lot of money," Cuomo said. But it's far below the shortfall in revenue that the state projects it will face, which the governor said could total $15 billion. "That is a drop in the bucket" compared with what New Yorkers need, he said. "How do you plug a $15 billion hole with $3.8 billion? You don't."
watch now
Cuomo's spokeswoman Dani Lever suggested in a statement later Wednesday that the Senate bill would give New York even less than what the governor initially outlined. "Based on initial reports, New York State government gets approximately $3.1 billion," Lever said in the statement. "As a percent of our total state budget – 1.9% – it is the second lowest amount in the nation." "The gross political manipulation is obvious," Lever said. "Compounding this inequity is the fact that New York State contributes more to the federal government than any other state in the nation. It is just another case of politics over sound policy." LEVER TWEET New York has become the epicenter of the U.S. coronavirus outbreak. More than 30,000 COVID-19 cases have been counted across the state as of Wednesday morning, accounting for more than half of all confirmed cases in the country. New York City may close parks, playgrounds and some streets to reduce density in the latest effort to contain the virus, the governor said Wednesday.
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"In life, you do what you have to do," he said. The White House and leaders of both parties in the Senate reached the stimulus deal around 1:30 a.m. following days of partisan debate in Congress and numerous late-night negotiating sessions. Senate Majority Leader Mitch McConnell, R-Ky., said his chamber will vote and pass the legislation later Wednesday, though the final details of the bill were still being ironed out by the early afternoon. A senior Democratic aide told CNBC procedural hurdles made it unlikely the House will vote on the bill until Thursday at the earliest. Amid the back-and-forth over the provisions this week, House Speaker Nancy Pelosi released her own proposal, which laid out the Democrats' agenda and was criticized by Republicans as an ideological wish list. Cuomo, however, said Pelosi's plan would have provided more for New York than the current bill in the Senate. "We need more federal help than this bill gives us. The House bill would have given us $17 billion. The Senate bill gives us $3 billion," Cuomo said. "That's a dramatic, dramatic difference." Trump and Cuomo, a Democrat, have been in close coordination amid New York's sharp rise in cases — and each has alternated between being deferential with each other and feuding about their efforts to combat the virus. White House press secretary Stephanie Grisham said Wednesday morning that Trump is aware of the contents of the Senate's bill and is eager to sign it. "He's been pushing for Congress to do the right thing and get ready help the American people. So we're really looking forward to this vote today so that he can sign it into law," Grisham said on Fox News. -- CNBC's William Feuer and Lauren Hirsch contributed to this report.


cnbc--2020-03-26--Congress likely to send taxpayers $1,200 checks in coronavirus aid. Here's who qualifies

As Congress pushes through a $ 2 trillion stimulus bill , some Americans can expect checks from the government to help them cope with the economic devastation stemming from the coronavirus crisis .
Those payments are expected to be $ 1,200 for individuals , or $ 2,400 for those who are married and file income taxes jointly .
It also includes $ 500 per child .
But you have to meet certain qualifications in order to be eligible for the money , based on your adjusted gross income in your latest tax returns .
If you earn more than $ @ @ @ @ @ @ @ as the head of household or $ 150,000 if you are married and filing jointly , the amount of those checks starts to get reduced .
Checks will be reduced by $ 5 for every $ 100 exceeding those thresholds .
It completely phases out at $ 99,000 in income for individuals , $ 146,500 for head of household filers with one child and $ 198,000 for joint filers with no children .
However , you are still eligible for a check if you have no income or if you rely solely on @ @ @ @ @ @ @ Income benefits , or SSI , from Social Security .
You also must have a valid Social Security number in order to receive the funds .
More from Personal Finance : How to get fast cash during the coronavirus pandemic Congress may let you skip mandatory withdrawal from retirement accounts Why staying invested in a downturn can help your 401 ( k ) recover faster

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Congress pushed through a $2 trillion stimulus bill Friday, and some Americans can expect checks from the government to help them cope with the economic devastation stemming from the coronavirus crisis. Those payments are expected to be $1,200 for individuals, or $2,400 for those who are married and file income taxes jointly. It also includes $500 per child. But you have to meet certain qualifications in order to be eligible for the money, based on your adjusted gross income in your latest tax returns. If you earn more than $75,000 as an individual, $112,500 as the head of household or $150,000 if you are married and filing jointly, the amount of those checks starts to get reduced. Checks will be reduced by $5 for every $100 exceeding those thresholds. It completely phases out at $99,000 in income for individuals, $146,500 for head of household filers with one child and $198,000 for joint filers with no children.
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However, you are still eligible for a check if you have no income or if you rely solely on non-taxable government benefit programs like Supplemental Security Income benefits, or SSI, from Social Security. "That group of people who are getting Social Security, whether it's for retirement or for disability, and don't need to file, will still be able to get a stimulus check," said Jack Smalligan, senior policy fellow at the Urban Institute, a non-partisan think tank. That's after new language was added to the bill to allow the Treasury Department to communicate with other agencies that provide federal benefits. So the government would not necessarily need those individuals to file tax returns in order to get the stimulus checks, Smalligan said. Americans who live in other countries may also be eligible.
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"The last time stimulus checks were sent out, U.S. citizens living abroad did receive them," said David McKeegan, co-founder of Greenback Expat Tax Services. "I would assume that this time it would be the same, but we won't know until we see the [IRS] guidance." One requirement for receiving the payments is you need to have a valid Social Security number. Some individuals are specifically excluded from receiving relief checks. That includes nonresident aliens, individuals whose deductions can go to another taxpayer, and estates or trusts. If you didn't yet file a 2019 return, the government will use your 2018 information if it has it. It also may use a 2019 Social Security benefit statement, or Form SSA-1099, or the Social Security Equivalent Benefit Statement, or Form RRB-1099. More from Personal Finance:
How to get fast cash during the coronavirus pandemic
Congress may let you skip mandatory withdrawal from retirement accounts
Why staying invested in a downturn can help your 401(k) recover faster More important, the money will not be counted as taxable income. It will be considered a credit, so you can deduct the sum against your future taxes. The legislation calls for sending out the payments "as rapidly as possible." Eligible individuals will receive the funds electronically if they previously authorized refunds to be delivered to them that way. Otherwise, they will be sent out via postal mail. Congress' coronavirus relief bill would also significantly expand unemployment benefits for Americans who lose their jobs due to the country's recent economic contagion. Self-employed workers, those seeking part-time work, and workers who quit their job or can't reach their place of work as a result of COVID-19 are among those eligible for benefits.


cnbc--2020-04-16--Trump issues guidelines to open up parts of US where coronavirus cases are in decline, testing rampe

Trump issues guidelines to open up parts of US where coronavirus cases are in decline, testing ramped up

President Donald Trump unveiled broad new federal guidelines Thursday that lay out conditions for parts of the U.S. to start relaxing some of the strict social distancing measures imposed to combat the spread of the coronavirus pandemic .
The 18-page plan for `` Opening Up America Again '' identifies the circumstances necessary for areas of the country to allow employees to start returning to work – but the decision to lift restrictions will ultimately be made by state governors .
Click here to read the new federal guidelines .
`` We must have a working economy .
And we want @ @ @ @ @ @ @ very quickly .
And that 's what 's going to happen , '' Trump said at a White House press briefing after announcing the new guidance .
As many as 29 states `` will be able to open relatively soon , '' Trump said later in the briefing .
`` We have a lot of states that , through location , through luck and also through a lot of talent ... are in a very good position . ''
But `` it could be that sometime in the fall there could be some @ @ @ @ @ @ @ president added .
States , which have imposed their own containment measures to try to slow the spread of the disease , are not legally required to follow the White House 's instructions .
But the new guidance nevertheless ramps up pressure on governors to loosen their restrictions , even as health experts and business leaders alike warn that widespread testing systems are needed before Americans can safely start returning to their normal lives .
`` America wants to be open and Americans want to be open , '' Trump said .
`` @ @ @ @ @ @ @ history of the world , and we closed it in order to win this war .
And we 're in the process of winning now . ''
Despite the president saying earlier this week that he believed some states may be able to `` reopen '' their economies before May , the White House guidelines do not offer any specific dates .
Rather , the plan lays out three `` phases '' aimed at guiding parts of the country to move incrementally toward loosening restrictions on businesses and individuals .
Before entering the @ @ @ @ @ @ @ the number of cases , positive tests and reports of flu- or Covid 19-like symptoms in a state or region should be trending downward .
There should also be a `` robust testing program in place for at-risk healthcare workers , including emerging antibody testing , '' according to the guidelines .
Phase One of the plan says that `` all vulnerable individuals '' should continue to shelter in place , and it encourages everyone to maintain various social distancing practices when in public .
But it also advises employers to `` return @ @ @ @ @ @ @ , while taking precautions such as closing common areas and minimizing nonessential travel .
Phase Two , which begins in areas with `` no evidence of a rebound '' in cases , further loosens the restrictions .
Even by the final phase , however , the guidelines still suggest that low-risk individuals `` consider minimizing time spent in crowded environments '' – an indication that a return to daily life untainted by the coronavirus may not be coming for a long time , if at all .
The guidelines also list `` Core @ @ @ @ @ @ @ section on so-called contact tracing , the process of pinpointing the interactions an infected person has had in order to trace the path of the disease .
The plan is a `` natural evolution from what we have said before , '' said Dr. Anthony Fauci , a top health expert on the White House coronavirus task force and the director of the National Institute of Allergy and Infectious Diseases .
`` By the time we get into the fall , I think we 're going to be in pretty good shape , @ @ @ @ @ @ @ declined to declare a nationwide lockdown order , opting instead to issue nonbinding social distancing guidelines that were originally set to expire at the end of March .
The president even said last month that he hoped to see `` packed churches '' on Easter Sunday – a comment quickly condemned by health experts .
The White House later revised its timeline , extending the guidance through the end of April .
But at a coronavirus press briefing Tuesday , Trump said he expects that some of the less-affected states will be able @ @ @ @ @ @ @ .
The availability of coronavirus tests remains a key issue , however .
While roughly 120,000 to 140,000 Covid-19 tests are reportedly taken each day in the U.S. – about 3.5 million tests in total so far , Trump said – that rate lags behind other countries on a per-capita basis .
Without being able to screen employees and customers for the virus , Americans wo n't be `` confident enough to return to work , eat at restaurants or shop in retail establishments , '' business executives told the president Wednesday , @ @ @ @ @ @ @ In phone conferences earlier Thursday , Democratic House and Senate members urged Trump to wait for Covid-19 testing to become more widely available before giving advice on reopening the economy , NBC reported .
But Trump pushed back , insisting that the economy must be reopened first , according to NBC .
The Infectious Diseases Society of America , meanwhile , recommended Thursday that government leaders should only start changing their social distancing policies `` when widespread testing allows accurate surveillance of the coronavirus spread . ''
A `` significant expansion '' of @ @ @ @ @ @ @ needed before the country can safely be reopened , the organization said .
Trump had previously asserted `` total '' authority over the country 's reopening .
Legal experts say that claim is false because the federal government ca n't override state-issued public health rules – and since the White House never imposed any social distancing measures itself , there 's nothing for it to reverse now .
Governors have implemented unprecedented restrictions to try to contain the spread of the virus .
Nonessential businesses have been forced to shutter their doors , @ @ @ @ @ @ @ been ordered to stay in their homes except to perform necessary activities .
Those policies are working , say governors such as Andrew Cuomo of New York , the epicenter of the Covid-19 outbreak in the U.S. Cuomo has pointed to the recent decline in daily numbers of intubations and hospitalizations as evidence that widespread adherence to social distancing works .
But Cuomo on Thursday extended his state 's strict containment measures through May 15 and expanded his order for people to wear masks in public .
The global efforts to blunt the @ @ @ @ @ @ @ life and ravaged the economy .
In just four weeks , the U.S. has erased virtually all the jobs gained since the Great Recession , according to Labor Department figures released Thursday .
The coronavirus first appeared near the city of Wuhan in China 's Hubei province .
It has since spread around the world , infecting more than 2 million people and killing at least 138,008 , data from Johns Hopkins University show .
The U.S. has reported more Covid-19 cases and deaths than any other country .
More than 639,600 people @ @ @ @ @ @ @ have died from the virus , according to Johns Hopkins .
On Monday , numerous states banded together to form their own working groups focused on coordinating their actions to combat the crisis and developing plans for reviving their economies .
Still , Trump said a day later that he will be `` authorizing each individual governor of each individual state to implement a reopening and a very powerful reopening plan of their state at a time and in a manner as most appropriate . ''
-- CNBC 's Amanda Macias , Tucker @ @ @ @ @ @ @ contributed to this report .

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President Donald Trump unveiled broad new federal guidelines Thursday that lay out conditions for parts of the U.S. to start relaxing some of the strict social distancing measures imposed to combat the spread of the coronavirus pandemic. The 18-page plan for "Opening Up America Again" identifies the circumstances necessary for areas of the country to allow employees to start returning to work – but the decision to lift restrictions will ultimately be made by state governors. Click here to read the new federal guidelines. "We must have a working economy. And we want to get it back. Very, very quickly. And that's what's going to happen," Trump said at a White House press briefing after announcing the new guidance. As many as 29 states "will be able to open relatively soon," Trump said later in the briefing. "We have a lot of states that, through location, through luck and also through a lot of talent ... are in a very good position." But "it could be that sometime in the fall there could be some flare-ups" of the virus, the president added. States, which have imposed their own containment measures to try to slow the spread of the disease, are not legally required to follow the White House's instructions. But the new guidance nevertheless ramps up pressure on governors to loosen their restrictions, even as health experts and business leaders alike warn that widespread testing systems are needed before Americans can safely start returning to their normal lives. "America wants to be open and Americans want to be open," Trump said. "We took the greatest economy in the history of the world, and we closed it in order to win this war. And we're in the process of winning now." Despite the president saying earlier this week that he believed some states may be able to "reopen" their economies before May, the White House guidelines do not offer any specific dates. Rather, the plan lays out three "phases" aimed at guiding parts of the country to move incrementally toward loosening restrictions on businesses and individuals.
watch now
Before entering the first phase, the guidelines say that the number of cases, positive tests and reports of flu- or Covid 19-like symptoms in a state or region should be trending downward. There should also be a "robust testing program in place for at-risk healthcare workers, including emerging antibody testing," according to the guidelines. Phase One of the plan says that "all vulnerable individuals" should continue to shelter in place, and it encourages everyone to maintain various social distancing practices when in public. But it also advises employers to "return to work in phases" if possible, while taking precautions such as closing common areas and minimizing nonessential travel. Phase Two, which begins in areas with "no evidence of a rebound" in cases, further loosens the restrictions. Even by the final phase, however, the guidelines still suggest that low-risk individuals "consider minimizing time spent in crowded environments" – an indication that a return to daily life untainted by the coronavirus may not be coming for a long time, if at all. The guidelines also list "Core State Preparedness Responsibilities" that include a section on so-called contact tracing, the process of pinpointing the interactions an infected person has had in order to trace the path of the disease. The plan is a "natural evolution from what we have said before," said Dr. Anthony Fauci, a top health expert on the White House coronavirus task force and the director of the National Institute of Allergy and Infectious Diseases. "By the time we get into the fall, I think we're going to be in pretty good shape," Fauci said.
watch now
The Trump administration declined to declare a nationwide lockdown order, opting instead to issue nonbinding social distancing guidelines that were originally set to expire at the end of March. The president even said last month that he hoped to see "packed churches" on Easter Sunday – a comment quickly condemned by health experts. The White House later revised its timeline, extending the guidance through the end of April. But at a coronavirus press briefing Tuesday, Trump said he expects that some of the less-affected states will be able to lift their restrictions before May 1. The availability of coronavirus tests remains a key issue, however. While roughly 120,000 to 140,000 Covid-19 tests are reportedly taken each day in the U.S. – about 3.5 million tests in total so far, Trump said – that rate lags behind other countries on a per-capita basis. Without being able to screen employees and customers for the virus, Americans won't be "confident enough to return to work, eat at restaurants or shop in retail establishments," business executives told the president Wednesday, according to The Wall Street Journal. In phone conferences earlier Thursday, Democratic House and Senate members urged Trump to wait for Covid-19 testing to become more widely available before giving advice on reopening the economy, NBC reported. But Trump pushed back, insisting that the economy must be reopened first, according to NBC. The Infectious Diseases Society of America, meanwhile, recommended Thursday that government leaders should only start changing their social distancing policies "when widespread testing allows accurate surveillance of the coronavirus spread." A "significant expansion" of tests and other medical supplies is still needed before the country can safely be reopened, the organization said.
watch now
Trump had previously asserted "total" authority over the country's reopening. Legal experts say that claim is false because the federal government can't override state-issued public health rules – and since the White House never imposed any social distancing measures itself, there's nothing for it to reverse now. Governors have implemented unprecedented restrictions to try to contain the spread of the virus. Nonessential businesses have been forced to shutter their doors, schools have been closed and residents have been ordered to stay in their homes except to perform necessary activities. Those policies are working, say governors such as Andrew Cuomo of New York, the epicenter of the Covid-19 outbreak in the U.S. Cuomo has pointed to the recent decline in daily numbers of intubations and hospitalizations as evidence that widespread adherence to social distancing works. But Cuomo on Thursday extended his state's strict containment measures through May 15 and expanded his order for people to wear masks in public. The global efforts to blunt the impact of the crisis have upended daily life and ravaged the economy. In just four weeks, the U.S. has erased virtually all the jobs gained since the Great Recession, according to Labor Department figures released Thursday. The coronavirus first appeared near the city of Wuhan in China's Hubei province. It has since spread around the world, infecting more than 2 million people and killing at least 138,008, data from Johns Hopkins University show. The U.S. has reported more Covid-19 cases and deaths than any other country. More than 639,600 people have been infected and at least 30,985 have died from the virus, according to Johns Hopkins. On Monday, numerous states banded together to form their own working groups focused on coordinating their actions to combat the crisis and developing plans for reviving their economies. Still, Trump said a day later that he will be "authorizing each individual governor of each individual state to implement a reopening and a very powerful reopening plan of their state at a time and in a manner as most appropriate." -- CNBC's Amanda Macias, Tucker Higgins, Dan Mangan and Christina Wilkie contributed to this report.


cnbc--2020-04-16--Unusual partnership in coronavirus bailout allows Fed and Treasury to share the risk

Before he became Treasury secretary , Steven Mnuchin was a banker on Wall Street , where the mantra was `` do n't lose money . ''
Now , as Mnuchin steers a multitrillion-dollar project to save the U.S. economy from the coronavirus fallout , the question is how much risk he is willing to bear if the potential reward is preventing total economic ruin .
As part of the CARES Act relief bill signed into law late last month , Mnuchin will pool $ 454 billion together with the Federal Reserve 's lending facilities to create $ 4 trillion in @ @ @ @ @ @ @ and local governments to weather the economic storm .
The move marks an incredible expansion of the Federal Reserve 's purview , which does n't usually involve aid to companies and smaller-scale governments .
The institution 's role is to maximize employment and stabilize the economy , not to take risks .
The program is structured so the Treasury takes the first hit if there are any losses .
Taking on those risks places it on top of the credit stack so that the Treasury , in essence , becomes the top shareholder @ @ @ @ @ @ @ That means Mnuchin is in a spot to reap returns from the investment , although such rewards are n't likely .
The partnership also allows the Treasury to take advantage of the Federal Reserve 's ability to swiftly inject money into the economy .
It also effectively shifts debt off the Treasury 's balance sheet and onto the Fed 's , while splitting political responsibility between the two .
In an election year , when the word `` bailout '' is a particularly dirty one , some political cover for the Trump administration @ @ @ @ @ @ @ and his fellow Republicans .
Democrats and Republicans alike have taken heat from the populist wings of their parties after the bank bailout of 2008 , resulting in the ascent of firebrand leaders such as Democratic Sen. Elizabeth Warren , democratic socialist Sen. Bernie Sanders and , indeed , GOP President Donald Trump .
But the arrangement also worries some economists , lawyers and activists who fear that if the Treasury runs the program strictly with an eye toward minimizing losses , it might miss the goal of reviving the U.S. economy .
@ @ @ @ @ @ @ the right to push — as any banker might — for demanding protections on his investment , whether that be through interest rates , collateral or shorter-term bonds .
And Mnuchin has made it clear he has little appetite for losses .
`` We expect we will get paid back on these loans , '' he told Fox News last month .
`` These are temporary support for the American economy that 's very critical . ''
If Mnuchin 's terms end up too stringent , however , some worry that could defeat @ @ @ @ @ @ @ `` The question is : Are we going to provide a lot of money and maybe fund companies that do n't make it and incur some losses , or are we so worried about risk that some good companies might not have access to financing ? ''
said Kathryn Judge , a professor at Columbia Law School and an expert in financial markets .
Unlike the Great Recession over a decade ago , the financial pain now emanates from a natural phenomenon , a virus , and not from the financial system , @ @ @ @ @ @ @ infusions .
The government needs to aid retailers , restaurants , local auto shops and many other kinds of businesses .
In one month , the U.S. economy wiped out nearly all of its job gains from the last 11 years .
With that need comes risk and likely failures .
In some cases , it may also mean helping out companies that have made themselves vulnerable to risk by loading on debt in hopes of preventing widespread bankruptcies .
Powell , of course , has a say in the terms .
Mnuchin @ @ @ @ @ @ @ speak multiple times a day .
He has said the Federal Reserve brings program requests to the Treasury which he then approves , often in consultation with the president , when the Treasury 's own money is involved .
Mnuchin told CBS at the end of March that he had approved every program the Fed had brought so far .
Still , Mnuchin holds certain power cards in his favor as the Fed and Treasury put the structure of those loans in place .
He recommended Powell for Fed chair .
Trump has @ @ @ @ @ @ @ .
Last week , the Federal Reserve began to outline in broad strokes how it will begin to use the funds .
It is using $ 75 billion of the Treasury 's pot as equity backing behind a lending program that could support up to $ 600 billion in loans .
The so-called Main Street Program is aimed at businesses with up to 10,000 employees or up to $ 2.5 billion in 2019 sales .
It also rolled out several other facilities , purchasing financial securities such as bonds and syndicated loans , @ @ @ @ @ @ @ details of the entire fund .
But the Main Street Program 's tight credit restrictions and leverage requirements quickly raised an objection from industries such as retail and hospitality , which fear the most distressed businesses may be the ones prevented from getting aid .
`` A lot of folks are really close to the edge , through no fault of their own .
And they need money quickly , '' said Tori Barnes , executive vice president of public affairs and policy at the U.S. Travel Association .
The group represents companies @ @ @ @ @ @ @ 83 % of which are small businesses .
The U.S. Travel Association is lobbying for the Treasury to make loans directly to severely affected travel-dependent businesses , rather than through the Federal Reserve program .
And the program appeared to lack any constraints that would prevent a company from laying off workers , thereby limiting financial flexibility — and the ability for the government to get its money back .
The CARES Act requires any company accepting loans from the Treasury 's fund to maintain employment levels of 90 % .
The Federal @ @ @ @ @ @ @ such language .
`` The taxpayer is supporting the lending program , and they should know what a company is planning to do with the money , '' said Bharat Ramamurti , part of a five-person congressional committee established to oversee the fund .
`` If it uses it to finance payroll that 's a good outcome . ''
Ramamurti , a former advisor to Warren , wrote the Federal Reserve on Wednesday urging more details around the program , including disclosure of its recipients .
Mnuchin has said he and the administration @ @ @ @ @ @ @ for the program , which includes an inspector general , a congressional committee and a separate board of inspectors general .
Still , the president has pushed back against two of those three oversight prongs .
The Federal Reserve and Treasury declined to comment .

Steven Mnuchin, U.S. Treasury secretary, right, speaks with Jerome Powell, chairman of the U.S. Federal Reserve, during a Financial Stability Oversight Council (FSOC) meeting at the U.S. Treasury in Washington, D.C., U.S., on Wednesday, Dec. 19, 2018. Al Drago | Bloomberg | Getty Images
Before he became Treasury secretary, Steven Mnuchin was a banker on Wall Street, where the mantra was "don't lose money." Now, as Mnuchin steers a multitrillion-dollar project to save the U.S. economy from the coronavirus fallout, the question is how much risk he is willing to bear if the potential reward is preventing total economic ruin. As part of the CARES Act relief bill signed into law late last month, Mnuchin will pool $454 billion together with the Federal Reserve's lending facilities to create $4 trillion in loans aimed at helping businesses, states and local governments to weather the economic storm. The move marks an incredible expansion of the Federal Reserve's purview, which doesn't usually involve aid to companies and smaller-scale governments. The institution's role is to maximize employment and stabilize the economy, not to take risks. The program is structured so the Treasury takes the first hit if there are any losses. Taking on those risks places it on top of the credit stack so that the Treasury, in essence, becomes the top shareholder of deals totaling $4 trillion. That means Mnuchin is in a spot to reap returns from the investment, although such rewards aren't likely. The partnership also allows the Treasury to take advantage of the Federal Reserve's ability to swiftly inject money into the economy. It also effectively shifts debt off the Treasury's balance sheet and onto the Fed's, while splitting political responsibility between the two. In an election year, when the word "bailout" is a particularly dirty one, some political cover for the Trump administration may be particularly beneficial to the president and his fellow Republicans. Democrats and Republicans alike have taken heat from the populist wings of their parties after the bank bailout of 2008, resulting in the ascent of firebrand leaders such as Democratic Sen. Elizabeth Warren, democratic socialist Sen. Bernie Sanders and, indeed, GOP President Donald Trump.
Potentially too strict
But the arrangement also worries some economists, lawyers and activists who fear that if the Treasury runs the program strictly with an eye toward minimizing losses, it might miss the goal of reviving the U.S. economy. As a top shareholder, Mnuchin has the right to push — as any banker might — for demanding protections on his investment, whether that be through interest rates, collateral or shorter-term bonds. And Mnuchin has made it clear he has little appetite for losses. "We expect we will get paid back on these loans," he told Fox News last month. "These are temporary support for the American economy that's very critical." If Mnuchin's terms end up too stringent, however, some worry that could defeat the purpose of the program entirely. "The question is: Are we going to provide a lot of money and maybe fund companies that don't make it and incur some losses, or are we so worried about risk that some good companies might not have access to financing?" said Kathryn Judge, a professor at Columbia Law School and an expert in financial markets. Unlike the Great Recession over a decade ago, the financial pain now emanates from a natural phenomenon, a virus, and not from the financial system, whose holes were plugged with massive cash infusions. The government needs to aid retailers, restaurants, local auto shops and many other kinds of businesses. In one month, the U.S. economy wiped out nearly all of its job gains from the last 11 years. With that need comes risk and likely failures. In some cases, it may also mean helping out companies that have made themselves vulnerable to risk by loading on debt in hopes of preventing widespread bankruptcies. Powell, of course, has a say in the terms. Mnuchin has said he and the Fed chair speak multiple times a day. He has said the Federal Reserve brings program requests to the Treasury which he then approves, often in consultation with the president, when the Treasury's own money is involved. Mnuchin told CBS at the end of March that he had approved every program the Fed had brought so far. Still, Mnuchin holds certain power cards in his favor as the Fed and Treasury put the structure of those loans in place. He recommended Powell for Fed chair. Trump has often put public political pressure on Powell.
Broad strokes, few details


cnbc--2020-04-16--Trump friend Roger Stone denied new trial by judge

Roger Stone arrives for his sentencing at the E. Barrett Prettyman Courthouse in Washington , DC on February , 20 , 2020 .
A federal judge on Thursday denied a request for a new trial by President Donald Trump friend Roger Stone , who was convicted last fall of lying to Congress and witness tampering , flatly rejecting his claim of juror misconduct .
Stone , 67 , had sought a new trial based on his allegation that the jury forewoman lied on a questionnaire as the panel was being selected .
Judge Amy Berman Jackson 's denial of that @ @ @ @ @ @ @ Republican political operative to begin with two weeks a 40-month prison term within the next two weeks for felonies related to lying to a House committee about his discussions with members of Trump 's 2016 presidential campaign .
Jackson had suspended that sentence from taking effect until she ruled on the motion for a new trial in U.S. District Court in Washington , D.C .
But Stone is certain to appeal his conviction now that his bid for a retrial has failed .
And it is not clear if he will be denied @ @ @ @ @ @ @ pending , particularly given the coronavirus outbreak .
Attorney General William Barr has urged the Bureau of Prisons to release inmates who are eligible for home confinement and vulnerable to Covid-19 because of their advanced age or underlying health conditions , in an effort to limit infections in federal lockps .
Trump has not ruled out pardoning Stone , a Florida resident who has for decades embraced a public persona of a dirty political trickster .
The president has repeatedly criticized the prosecution of Stone , who was charged in the case by @ @ @ @ @ @ @ ruling , Jackson rejected Stone 's argument that the jury forewoman , Tomeka Hart , had lied during jury selection and had exhibited such a bias against Trump on social media that it should have ruled her out from deciding Stone 's fate .
That argument had been supported in late February by Trump himself , in a Twitter post .
`` The defendant has not shown that the juror lied ; nor has he shown that the supposedly disqualifying evidence could not have been found through the exercise of due diligence at @ @ @ @ @ @ @ '' Jackson wrote in her decision Thursday .
`` Moreover , while the social media communications may suggest that the juror has strong opinions about certain people or issues , they do not reveal that she had an opinion about Roger Stone , which is the opinion that matters , '' the judge wrote .
`` The assumption underlying the motion – that one can infer from the juror 's opinions about the President that she could not fairly consider the evidence against the defendant – is not supported by any facts or @ @ @ @ @ @ @ legal precedent , '' Jackson wrote .
`` The motion is a tower of indignation , but at the end of the day , there is little of substance holding it up . ''
Jackson a number of times called out Stone 's lawyers for raising the issue of Hart 's social media posts only months after jury selection and after the trial was finished .
She noted that they had failed to discover those posts during jury selection or the trial , even though they were public .
`` At the time @ @ @ @ @ @ @ defense made a strategic choice not to look for social media information .
None of the seven lawyers or the two jury consultants on the defense team performed the rudimentary Googling that located this set of Facebook and Twitter posts , '' Jackson wrote .
And the judge at one point in her decision referenced Stone 's earlier political hero , President Richard Nixon , citing a 1975 ruling in which the federal appeals court for the District of Columbia `` refused to equate views about President Nixon with an inability to be @ @ @ @ @ @ @ White House , an even closer connection than the one here . ''
Stone has a tattoo of Nixon 's face on his back .
Jackson , in a separate order , said , `` The defendant must surrender for service of his sentence at the institution designated by the Bureau of Prisons at such time as he is notified by the U.S .
Probation or Pretrial Services Office , but no earlier than fourteen days after the date of this order . ''
Stone was convicted last fall in Washington federal court @ @ @ @ @ @ @ that he lied to a House committee about talked with Trump 's presidential campaign about his efforts to get information from the document disclosure group WikiLeaks about emails stolen by Russian agents from John Podesta , the head of Hillary Clinton 's presidential campaign , and from the Democratic National Committee .
The emails were made public by WikiLeaks in 2016 .
Disclosures of their contents embarrassed Clinton 's campaign and the DNC .
Jurors also found that Stone had threatened his associate Randy Credico , a New York comedian , in an @ @ @ @ @ @ @ his misstatements to the House committee .
In February , as Stone 's sentencing date approached , a controversy erupted over Trump 's public statements about the case , and over the involvement in the case of Attorney General William Barr .
The uproar led directly to Stone 's request for a new trial .

Roger Stone arrives for his sentencing at the E. Barrett Prettyman Courthouse in Washington, DC on February, 20, 2020.
A federal judge on Thursday denied a request for a new trial by President Donald Trump friend Roger Stone, who was convicted last fall of lying to Congress and witness tampering, flatly rejecting his claim of juror misconduct.
Stone, 67, had sought a new trial based on his allegation that the jury forewoman lied on a questionnaire as the panel was being selected.
Judge Amy Berman Jackson's denial of that motion theoretically sets the stage for the Republican political operative to begin serving within two weeks a 40-month prison term for felonies related to lying to a House committee about his discussions with members of Trump's 2016 presidential campaign.
Jackson had suspended that sentence from taking effect until she ruled on the motion for a new trial in U.S. District Court in Washington, D.C.
But Stone is certain to appeal his conviction now that his bid for a retrial has failed.
And it is not clear if he will be denied a release bond while that appeal is pending, particularly given the coronavirus outbreak. Attorney General William Barr has urged the Bureau of Prisons to release inmates who are eligible for home confinement and vulnerable to Covid-19 because of their advanced age or underlying health conditions, in an effort to limit infections in federal lockups.
Stone's lawyer, Seth Ginsberg, when asked for comment about the ruling said ''At this point, we are reviewing the decision and will determine how to proceed in the coming days.''
Trump has not ruled out pardoning Stone, a Florida resident who has for decades embraced a public persona of a dirty political trickster.
The president has repeatedly criticized the prosecution of Stone, who was charged in the case by then-special counsel Robert Mueller.
In her ruling, Jackson rejected Stone's argument that the jury forewoman, Tomeka Hart, had lied during jury selection and had exhibited such a bias against Trump on social media that it should have ruled her out from deciding Stone's fate.
That argument had been supported in late February by Trump himself, in a Twitter post.
Tweet
"The defendant has not shown that the juror lied; nor has he shown that the supposedly disqualifying evidence could not have been found through the exercise of due diligence at the time the jury was selected," Jackson wrote in her decision Thursday.
"Moreover, while the social media communications may suggest that the juror has strong opinions about certain people or issues, they do not reveal that she had an opinion about Roger Stone, which is the opinion that matters," the judge wrote.
"The assumption underlying the motion – that one can infer from the juror's opinions about the President that she could not fairly consider the evidence against the defendant – is not supported by any facts or data and it is contrary to controlling legal precedent," Jackson wrote.
"The motion is a tower of indignation, but at the end of the day, there is little of substance holding it up."
Jackson a number of times called out Stone's lawyers for raising the issue of Hart's social media posts only months after jury selection and after the trial was finished. She noted that they had failed to discover those posts during jury selection or the trial, even though they were public.
"At the time of the trial, though, the defense made a strategic choice not to look for social media information. None of the seven lawyers or the two jury consultants on the defense team performed the rudimentary Googling that located this set of Facebook and Twitter posts," Jackson wrote.
And the judge at one point in her decision referenced Stone's earlier political hero, President Richard Nixon, citing a 1975 ruling in which the federal appeals court for the District of Columbia "refused to equate views about President Nixon with an inability to be impartial to someone who worked in the White House, an even closer connection than the one here."
Stone has a tattoo of Nixon's face on his back.
Jackson, in a separate order, said, "The defendant must surrender for service of his sentence at the institution designated by the Bureau of Prisons at such time as he is notified by the U.S. Probation or Pretrial Services Office, but no earlier than fourteen days after the date of this order."
Stone was convicted last fall in Washington federal court of seven felony counts.
Jurors found that he lied to a House committee about talked with Trump's presidential campaign about his efforts to get information from the document disclosure group WikiLeaks about emails stolen by Russian agents from John Podesta, the head of Hillary Clinton's presidential campaign, and from the Democratic National Committee.
The emails were made public by WikiLeaks in 2016. Disclosures of their contents embarrassed Clinton's campaign and the DNC.
Jurors also found that Stone had threatened his associate Randy Credico, a New York comedian, in an effort to get Credico to back up his misstatements to the House committee.
In February, as Stone's sentencing date approached, a controversy erupted over Trump's public statements about the case, and over the involvement in the case of Attorney General William Barr.
The uproar led directly to Stone's request for a new trial.


cnbc--2020-04-16--Coronavirus clobbers workers in 2020 swing states Michigan and Pennsylvania

More than 22 million Americans applied for unemployment insurance over the latest four weeks as the outbreak forced businesses to close , according to Labor Department data released Thursday .
The two 2020 election battlegrounds took a bigger hit than nearly all other states .
The coronavirus pandemic has ravaged workers in Michigan and Pennsylvania , two of the states President Donald Trump most needs to win to earn another term in the White House .
Generally , states that supported Democrat Hillary Clinton in 2016 saw more jobless claims than those that backed Trump .
Michigan and Pennsylvania , @ @ @ @ @ @ @ White House by voting for him by razor-thin margins , stand out from the bunch .
Rhode Island had the most jobless claims during the period , while Hawaii was third .
Both were won by Clinton in 2016 .
Michigan , with just above 1 million initial jobless claims during the period , saw the second-highest number per capita .
Pennsylvania had 1.3 million unemployment insurance claims overall , the fourth-most per 10,000 residents .
A sign gives notice to visitors that The Independence Visitor Center is closed to the public due @ @ @ @ @ @ @ on March 17 , 2020 in Philadelphia , Pennsylvania .
Also near the top of the list sit Nevada and New Hampshire , just behind Pennsylvania at fifth and sixth , respectively , in unemployment insurance claims per capita .
Clinton carried Nevada by about 2.5 percentage points and New Hampshire by less than a percentage point .
Since the claims data measure applications processed rather than total filed , they do not capture the entire picture .
Reports indicate applicants have flooded state systems , and some states may be better than @ @ @ @ @ @ @ often consider the economy in casting their ballots , it is unclear how much the current economic devastation will influence Americans in November when they decide between Trump and apparent Democratic nominee Joe Biden .
The president 's political fate could also depend on voters ' views of how much the robust new unemployment insurance passed by Congress last month helps them .
( It adds $ 600 per week , for four months , on top of what recipients would normally get from states ) .
Trump has kept a close eye @ @ @ @ @ @ @ backlash for his preparedness to combat the crisis .
He has gone to the White House briefing room nearly every day for the past few weeks to defend his administration 's actions and bash reporters — creating a semblance of the freewheeling campaign rallies he had to cancel during the pandemic .
As he takes swipes at some Democratic governors during the outbreak , Trump has reserved particular ire for Michigan Gov .
Gretchen Whitmer — one of Biden 's possible running mates .

More than 22 million Americans applied for unemployment insurance over the latest four weeks as the outbreak forced businesses to close, according to Labor Department data released Thursday. The two 2020 election battlegrounds took a bigger hit than nearly all other states.
The coronavirus pandemic has ravaged workers in Michigan and Pennsylvania , two of the states President Donald Trump most needs to win to earn another term in the White House.
Generally, states that supported Democrat Hillary Clinton in 2016 saw more jobless claims than those that backed Trump. Michigan and Pennsylvania, which helped to send Trump to the White House by voting for him by razor-thin margins, stand out from the bunch. Rhode Island had the most jobless claims during the period, while Hawaii was third. Both were won by Clinton in 2016.
Michigan, with just above 1 million initial jobless claims during the period, saw the second-highest number per capita. Pennsylvania had 1.3 million unemployment insurance claims overall, the fourth-most per 10,000 residents.
A sign gives notice to visitors that The Independence Visitor Center is closed to the public due to the coronavirus (COVID-19) outbreak on March 17, 2020 in Philadelphia, Pennsylvania.
Also near the top of the list sit Nevada and New Hampshire, just behind Pennsylvania at fifth and sixth, respectively, in unemployment insurance claims per capita. Clinton carried Nevada by about 2.5 percentage points and New Hampshire by less than a percentage point.
Since the claims data measure applications processed rather than total filed, they do not capture the entire picture. Reports indicate applicants have flooded state systems, and some states may be better than others at processing claims.
While voters often consider the economy in casting their ballots, it is unclear how much the current economic devastation will influence Americans in November when they decide between Trump and apparent Democratic nominee Joe Biden. The president's political fate could also depend on voters' views of how much the robust new unemployment insurance passed by Congress last month helps them. (It adds $600 per week, for four months, on top of what recipients would normally get from states).
Trump has kept a close eye on the political stakes as he faces backlash for his preparedness to combat the crisis. He has gone to the White House briefing room nearly every day for the past few weeks to defend his administration's actions and bash reporters — creating a semblance of the freewheeling campaign rallies he had to cancel during the pandemic.
As he takes swipes at some Democratic governors during the outbreak, Trump has reserved particular ire for Michigan Gov. Gretchen Whitmer — one of Biden's possible running mates.
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