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☆ What the next Trump presidency could mean for US education
▼ + stars: | 2024-11-17 | by ( Katie Lobosco | Devan Cole | ) edition.cnn.com time to read: +12 min

Here are some of the things Trump has pledged and how or whether they could become reality:Abolishing the Department of EducationPledge: Trump has repeatedly said he will close the federal Department of Education, sending authority over education back to the states and saving taxpayer dollars. Trump has distanced himself from the policy paper, but a CNN review found that at least 140 people who worked in the first Trump administration were involved. How it could be done: It’s not clear how the Trump administration could achieve these goals. But the new Trump administration could set certain requirements that schools must meet to receive federal funding. The Trump administration could decide to rescind the repayment plan, which was created by a regulatory process.

Persons: Donald Trump, ”, “, Trump, Joe Biden, Betsy DeVos, Robert Enlow, Brian Snyder, ” Trump, Derrell Bradford, Biden, it’s, It’s, Vanessa Kelly, Thomas Toch, Georgetown University’s, ” Toch, Gene J, –, doesn’t, Congress –, Trump’s, Obama Organizations: Washington CNN —, ”, Department of Education, of Education, Education, Labor, Department of Health, Human Services, Heritage Foundation, CNN, of Education’s, Civil Rights, Department of Justice, Department of Treasury, Base Andrews, Reuters Universal, Trump, Vance, “, Fox Business, Republican, Children, IX, GOP, Biden, Department, Justice, Georgetown, Georgetown University’s McCourt School of Public, Penn State University, 8th, Public, Congress Locations: Maryland, Washington

☆ Trump promised massive tariffs on imports but how he’ll pull it off is still being figured out
▼ + stars: | 2024-11-08 | by ( Kayla Tausche | ) edition.cnn.com time to read: +6 min

Washington CNN —Just days after winning a comeback election, President-elect Donald Trump is evaluating how his campaign promises might translate into policy. As a candidate, Trump pledged to slap 60% tariffs on all goods coming in from China and 10% tariffs on goods imported from all other countries. “The way that President Trump looks at tariffs are not in isolation. Trump’s economic advisers – and the president himself – view the forthcoming tariff revenue as a way to offset that cost. “If he can use the tariffs as a means to an end, he’ll do that.”CNN’s Katie Lobosco contributed to this report.

Persons: Washington CNN —, Donald Trump, ”, Trump, Kelly Ann Shaw, Hogan Lovells, –, ” Trump, Larry Kudlow, it’s, ” “, Karoline Leavitt, Vance, Jake Colvin, ” Colvin, “ That’s, Robert Lighthizer, Elon Musk, “, he’s, Katie Lobosco Organizations: Washington CNN, CNN, Trump, Republicans, Jobs, Tax, Center, Social Security, Advisers, “, National Foreign Trade Council, European Union, EU, EV Locations: China, Trump’s, America, Canada, There’s, Tesla

☆ Here’s what Trump is proposing for the economy
▼ + stars: | 2024-11-06 | by ( Katie Lobosco | Tami Luhby | ) edition.cnn.com time to read: +10 min

This includes, among other things, an increase to the standard deduction, lower marginal income tax rates for most income brackets, and an increase to the estate tax exemption. Though his campaign hasn’t released details on the proposal, Trump has indicated that he would eliminate both federal income taxes and payroll taxes, which fund Social Security and Medicare. However, these workers would then get smaller Social Security payments after they retire. Around half of beneficiaries – mainly those with higher incomes – pay federal income tax on their Social Security payments. Trump has also floated ending the federal income tax and replacing it with revenue from tariffs.

Persons: Donald Trump, Trump, Kamala Harris, hasn’t, Ohio Sen, JD Vance, He’s, Harris, Elon Musk, John Deere, ” Vance Organizations: Washington CNN —, Security, Democratic, Social Security, Center, Social, Budget, Trump, Biden, Republican Party, ” Invest, Federal Reserve Locations: Las Vegas, Mexico, Canada, Midwest

☆ What Harris and Trump are proposing for the economy
▼ + stars: | 2024-10-27 | by ( Tami Luhby | Katie Lobosco | ) edition.cnn.com time to read: +21 min

CNN —Former President Donald Trump and Vice President Kamala Harris have laid out a broad array of ideas aimed at making life more affordable and strengthening the economy, which rank at the top of voters’ concerns. Both Trump and Harris have rolled out pricey provisions without specifying how they would cover the cost. Though his campaign hasn’t released details on the proposal, Trump has indicated that he would eliminate both federal income taxes and payroll taxes, which fund Social Security and Medicare. Around half of beneficiaries – mainly those with higher incomes – pay federal income tax on their Social Security payments. Harris’ plan would also accelerate the speed of Medicare’s drug price negotiations so that the costs of more medications come down faster.

Persons: Donald Trump, Kamala Harris, hasn’t, Harris, Harris ’, Trump, Joe Biden’s, Biden, Sen, JD Vance, Trump’s, ” Harris, USMCA, ” Trump, He’s, Elon Musk, John Deere, ” Vance Organizations: CNN, Trump, Yale University, Security, Social Security, Center, Social, Rescue, Medicare, GOP, Biden, Republican Party, ” Invest, America, Federal Reserve, American Locations: Nevada, Las Vegas, Mexico, Canada, Texas, Florida, Harris, Midwest

☆ Fact check: Kamala Harris town hall on CNN
▼ + stars: | 2024-10-23 | by ( Cnn Staff | ) edition.cnn.com time to read: +7 min

CNN —Vice President Kamala Harris joined CNN’s Anderson Cooper for a town hall in the critical swing state of Pennsylvania on Wednesday night, where she faced questions directly from persuadable and undecided voters less than two weeks before Americans head to the polls on Election Day. Former President Donald Trump was invited but declined to participate in a CNN town hall. Separate studies estimate that the impact of Trump’s proposed tariffs would also raise prices for families, but by a lower amount. From CNN’s Piper Hudspeth BlackburnHarris’ claim on Trump’s tax cutsVice President Kamala Harris slammed her opponent former President Donald Trump for putting in place policies that benefitted the wealthy during his first term. “Donald Trump, when he was president, gave tax cuts to the richest, to billionaires and big corporations,” she said at CNN’s town hall.

Persons: Kamala Harris, CNN’s Anderson Cooper, Donald Trump, Harris, Trump, He’s, Katie Lobosco Harris, “, Anderson, Mike Pence, Rather, Joe Biden, “ Joe Biden, Daniel Dale, Ella Nilsen Harris, Donald Trump’s, ”, Harris ’, Tim Walz, Piper Hudspeth Blackburn Harris ’, “ Donald Trump, Tami Luhby Organizations: CNN, Center for American Progress Action, CAP, Peterson Institute for International Economics, Center, Democratic, US, Protection, Army Corps of Engineers, CBS Locations: Pennsylvania, persuadable, Mexico, CNN’s

☆ How Kamala Harris took on the ‘big banks’ after the foreclosure crisis
▼ + stars: | 2024-10-21 | by ( Katie Lobosco | ) edition.cnn.com time to read: +5 min

Washington CNN —Vice President Kamala Harris often touts how she took on the “big banks” as attorney general of California to deliver mortgage relief to homeowners hit by the 2008 foreclosure crisis. The oft-repeated story references how Harris helped negotiate a multistate mortgage settlement with five of the nation’s biggest banks that delivered financial relief to homeowners and set standards for lenders. Harris also secured a separate agreement with three of the banks, guaranteeing a certain amount of relief for California homeowners. Mortgage relief for homeownersAs a result of the national settlement, mortgage relief was delivered to homeowners in several different forms, such as principal reductions, interest rates cuts, other kinds of loan modifications or short sales. There were also some direct payments sent to people who wrongfully lost their homes to foreclosure, according to the National Mortgage Settlement website.

Persons: Kamala Harris, Harris, It’s, “, ”, Joe Biden’s, Beau Biden, Jamie Dimon, Ira Rheingold, Katie Porter, Irvine –, ” Rheingold, Lisa Sitkin, Sitkin, servicer Organizations: Washington CNN —, Democratic National Convention, ”, JPMorgan Chase, National Association of Consumer Advocates, Mortgage, National Mortgage, University of California, Irvine, National Housing Law, Consumer Financial, Bureau Locations: California, Delaware

☆ Just ignore the word ‘tariff’ — it’s a tax
▼ + stars: | 2024-10-16 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Especially when you hear words like “tariffs.”But, given the economy’s central importance in the 2024 race, it’s worth hammering on an Econ 101 fact: Tariffs are a tax on Americans. Very simply: When the US government decides to put a tariff (read: tax) on, say, Chinese goods, the actual money going to the US Treasury comes from the American company doing the importing. “To me, the most beautiful word in the dictionary is tariff,” Trump said at one point. But it’s important to judge Trump’s first-term trade policies and the Biden-Harris approach against context of the unprecedented tariff wave Trump is planning if he gets to Round Two. Bottom line: Tariffs might be a beautiful word to Trump’s ear, but he’s telling a fictional story about what they do in practice.

Persons: CNN Business ’, New York CNN —, Donald Trump, It’s, —, Annette Choi, Katie Lobosco, podcaster Sean Kelly, David Pakman, Kelly, he’s, ” Kelly, Pakman, “, Trump, ” Trump, John Micklethwait, Micklethwait, it’s, Joe Biden, Kamala Harris, Trump’s, Harris, ”, Scott Lincicome, United States —, ” David Kelly, Matt Egan Organizations: CNN Business, New York CNN, CNN, US Treasury, Bloomberg, Economic, of Chicago, Biden, Trump, Republican, Cato Institute, Peterson Institute for International Economics, Federal, Peterson Institute, Asset Management Locations: New York, China, United States, States

☆ USMCA: Trump wants to renegotiate his own trade deal
▼ + stars: | 2024-10-14 | by ( Katie Lobosco | ) edition.cnn.com time to read: +2 min

Washington CNN —Former President Donald Trump is once again pledging to save American manufacturing and bring back jobs by rewriting a trade agreement with Mexico and Canada. But this time, instead of replacing the North American Free Trade Agreement, known as NAFTA, which he has often described as the “worst trade deal ever made,” he wants to renegotiate his own trade deal. When asked by Fox News’ Maria Bartiromo in an interview that aired Sunday about his plan to renegotiate the USMCA, Trump said it would not undermine the deal he put together. Harris also wants to review the USMCAVice President Kamala Harris has also said she would use the USMCA review process. The trade deal created sweeping new benefits for the technology sector, in a chapter on digital trade that wasn’t part of the original NAFTA.

Persons: Donald Trump, ”, Trump, ” Trump, Maria Bartiromo, “, Harris, Kamala Harris, USMCA Organizations: Washington CNN, North American Free Trade, “, Detroit Economic Club, Fox News, Democratic, NAFTA Locations: Mexico, Canada, USMCA, North America

☆ How Trump’s tariffs would work
▼ + stars: | 2024-10-13 | by ( Katie Lobosco | Annette Choi | ) edition.cnn.com time to read: +3 min

Study after study, including one from the federal government’s bipartisan US International Trade Commission, has found that Americans have borne almost the entire cost of Trump’s tariffs on Chinese products. When Trump was in office, he implemented tariffs on about $380 billion worth of goods imported into the US, according to a Tax Foundation analysis. The Trump tariffs also hit foreign steel, aluminum, washing machines and solar panels. But even if Trump implements tariffs on all US imports, the resulting revenue is unlikely to cover all these costs. The Committee for a Responsible Federal Budget recently estimated that Trump’s tariff plan would not generate enough revenue to pay for his other spending proposals.

Persons: Donald Trump, Trump, ” Trump, He’s, Kamala Harris, Harris, he’s Organizations: Washington CNN, White, Trump, US International Trade Commission, Biden, Social Security, CNBC, Detroit Economic, Federal Budget Locations: Michigan

☆ Trump and Harris’ proposals would both increase the national debt but Trump’s plan would add $4 trillion more, study finds
▼ + stars: | 2024-10-07 | by ( Tami Luhby | ) edition.cnn.com time to read: +7 min

Harris’ plan would boost the debt by $3.5 trillion over the next decade, while Trump’s platform would cause it to spike by $7.5 trillion, according to the Committee for a Responsible Federal Budget’s report, released Monday. It found that Harris’ measures could have no significant impact on the debt or could increase it by $8.1 trillion. And Trump’s proposals could balloon the debt by between $1.5 trillion and $15.2 trillion. These proposals would cost $2.3 trillion in total. But the committee estimates these tariffs would bring in between $2 trillion and $4.3 trillion over a decade — not enough to cover Trump’s agenda.

Persons: CNN —, Kamala Harris, Donald Trump, Harris ’, Harris, ’, Trump, Jerome Powell, “ We’re, ” Marc Goldwein, Brian Hughes, Trump’s, ”, That’s, Joe Biden’s, Katie Lobosco, Matt Egan Organizations: CNN, Republicans, Democrats, Trump, Social Security, Peterson Institute for International Economics, Center, of Education Locations: American

☆ What Harris’ unrealized capital gains tax proposal means for you
▼ + stars: | 2024-10-06 | by ( Katie Lobosco | ) edition.cnn.com time to read: +8 min

A billionaire minimum tax is one of several proposals pushed by Democrats in recent years to tax the rich. Harris has specifically called for raising the top tax rate on millionaires with long-term realized capital gains from 20% to 28%. Harris’ proposal to increase the tax rate on realized capital gains to 28% would apply to taxpayers with income over $1 million. How a tax on unrealized capital gains would workLet’s discuss how a billionaire minimum tax – which is, on a basic level, a tax on unrealized capital gains – would impact a homeowner. If passed, a billionaire minimum tax – an unprecedented tax on income not yet received – would likely face many legal challenges.

Persons: Kamala Harris that’s, “, ”, Mark Friedlich, Harris, hasn’t, Biden, Joe Biden, Erica York, it’s, ” Friedlich, Ron Wyden, Joe Manchin, Kyrsten, inheritances Harris hasn’t, Biden’s Organizations: Washington CNN, IRS, Wolters Kluwer, Accounting, Biden, Tax, Oregon Democrat, Senate Locations: Altrata, Oregon, Sens, West Virginia, Arizona

☆ Fact check: JD Vance and Tim Walz at the vice presidential debate
▼ + stars: | 2024-10-01 | by ( Cnn Staff | ) edition.cnn.com time to read: +32 min

Tim Walz and Republican Sen. JD Vance of Ohio are facing off Tuesday night in New York City for their first – and only – vice presidential debate. Vance mischaracterizes Harris’ role on border policySen. JD Vance claimed that Vice President Kamala Harris was appointed the “border czar” during the Biden administration. Tim Walz and Sen. JD Vance attend a debate hosted by CBS News in New York on Tuesday. A recent report from the US Department of Energy found 142,000 new clean energy jobs were created in 2023. Alex Kent/Getty Images Cutout images of Vance and Walz are displayed at a debate watch party in New York.

Persons: Tim Walz, Republican Sen, JD Vance, Vance mischaracterizes Harris, Sen, Kamala Harris, ”, Biden, Donald Trump, ” Vance, Harris, Alejandro Mayorkas, “, Daniel Dale Minnesota, Mike Segar, Reuters Walz, aren’t, Joe Biden’s, –, CNN’s Ella Nilsen, Joe Biden, Michael Ciaglo, Vance, Springfield , Ohio Sen, you’ve, Mike DeWine, Daniel Dale, Danya, Jessie Wardarski, Kamala Harris “, Donald Trump’s, CNN’s Dana Bash, CNN’s Hannah Rabinowitz, John Modlin, Rebecca Noble, Walz, ” Walz, Al Drago, Matt Rourke, Ken Betancur, Angela Weiss, Joe Raedle, Chip Somodevilla, Norah O'Donnell, Margaret Brennan, Brendan McDermid, Reuters Vance, Julia Demaree Nikhinson, Alex Kent, Victor J, Charly Triballeau, Getty Images Walz, Kevin Wexler, Anna Moneymaker, Trump, Roger Severino, ” –, Norah O’Donnell, Katie Lobosco Vance, CNN’s Manu Raju, Ted Barrett, …, Trump’s, “ Alabama’s, Andrew Kaczynski, Em Steck Vance, unfroze, Wally Adeyemo, Jennifer Hansler Vance, Joe Manchin, Dave Renner, ” Dr, Erin Stevens, ” Stevens, It’s, ” Renner, Jack Forrest Vance, DHS ‘, Kamala Harris ’, General, Immigrations, ” Aaron Reichlin, didn’t, Jack Forrest Organizations: CNN, Democratic Minnesota Gov, Republican, White, Homeland, Central, Daniel Dale Minnesota Gov, CBS News, Reuters, Biden, Senate, US Department of Energy, 2024 Energy, Bidenomics, CS Wind, CS, YES, ” Republican Ohio Gov, New York Times, US, American Civil Liberties Union, Enforcement, Democratic, US Border Patrol, Getty, Heritage Foundation, for Disease Control, CDC, Department of Health, Human Services, Minnesota Gov, CBS Broadcast Center, Bloomberg, People, CBS, Center, Journalists, United Federation of Teachers, Getty Images, USA, New York, Secret Service, Trump, Congress, Fox News, MIT, CNN’s Ella Nilsen Workers, AFP, Tuesday’s, Minnesota Medical Association, American College of Obstetricians, “, DHS, Department of Homeland Security, Homeland Security, Customs Enforcement, ICE, HHS, American Immigration Council, ICE hasn’t, New York Post, Washington Times Locations: Ohio, New York City, El Salvador, Guatemala, Honduras, United States, Mexico, New York, Pueblo , Colorado, Springfield , Ohio, Springfield, ”, US Border Patrol Tucson, Douglas , Arizona, AFP, Minnesota, New, Kendall , Florida, California, Iran, Israel, South Korea, Qatar, China, United States of America, West Virginia, Fuzhou, China's Fujian

☆ Here’s how Trump says he’ll help US businesses through tariffs and taxes
▼ + stars: | 2024-09-24 | by ( Tami Luhby | Katie Lobosco | ) edition.cnn.com time to read: +9 min

Trump’s promised business tax cuts come alongside his suite of targeted tax relief for individuals, a list that continues to grow. Trump used tariffs, in part, to help boost American manufacturing. Reducing the corporate tax rateTrump has long wanted to reduce the corporate tax rate to below 21%. It will force owners of successful companies to sell their businesses to raise the cash to pay the tax, Trump said. Notably, the tax cut law temporarily created a special deduction for the owners of certain pass-through entities who pay business taxes on their individual tax returns.

Persons: Donald Trump, we’re, ” Trump, Trump, Kamala Harris, Joe Biden’s, Trump’s, ” John Murphy, Biden, ”, John Gimigliano, “, Harris, CNN’s Kate Sullivan Organizations: CNN, Trump, Democratic, Social Security, Republicans, Tax Foundation, China Business, Federal Reserve, US Chamber of Commerce, Economic, of New, KPMG Locations: Savannah , Georgia, America, Mexico, United States, American, of New York, Savannah

☆ Here’s what it could mean if Trump shut down the US Department of Education
▼ + stars: | 2024-09-20 | by ( Katie Lobosco | ) edition.cnn.com time to read: +7 min

We will ultimately eliminate the federal Department of Education,” he said earlier this month during a rally in Wisconsin. Previously, federal education programs were housed in other agencies. Ending the department may not eliminate federal education fundingFederal funding programs for K-12 schools that help support the education of students from low-income families and children with disabilities predated the creation of the Department of Education. Calls to abolish the Department of Education or merge it with another federal agency are not new. When Trump was president, his administration proposed merging the Education and Labor departments into one federal agency.

Persons: Donald Trump, Trump, “, I’m, ”, ” Trump, Kamala Harris, ” Harris, Jimmy Carter, Pell, Joe Biden’s, Frederick Hess, Marguerite Roza, ” Roza, Ronald Reagan Organizations: Washington CNN —, Department of Education, of Education, Democratic National Convention, National Education Association, Department, Education’s, IDEA, Civil, Joe Biden’s Department of Education, Obama, Education, American Enterprise Institute, “, Georgetown University, Brookings Institution, Republican, Labor, Republicans Locations: Wisconsin, Georgia, Israel

☆ Biden finalizes increases to China tariffs
▼ + stars: | 2024-09-13 | by ( Katie Lobosco | ) edition.cnn.com time to read: +2 min

Washington CNN —The Biden administration said Friday that it has finalized tariff hikes on certain Chinese-made products that the president first announced in May. The administration’s increases come as Vice President Kamala Harris and former President Donald Trump have clashed over tariffs on the campaign trail. Trump implemented sweeping tariffs on about $300 billion of Chinese-made products when he was in office. “Today’s finalized tariff increases will target the harmful policies and practices of the People’s Republic of China that continue to impact American workers and businesses,” US Trade Representative Katherine Tai said in a press release. China is expected to retaliate by increasing tariffs on US-made goods.

Persons: Washington CNN —, Biden, Kamala Harris, Donald Trump, Harris, Trump, Joe Biden, Today’s, Katherine Tai, Wang Wenbin, ”, He’s, Kayla Tausche Organizations: Washington CNN, US Trade Representative’s, US, Trade Organization Locations: People’s Republic of China, China

☆ Fact check: Donald Trump, Kamala Harris debate on ABC News
▼ + stars: | 2024-09-10 | by ( Cnn Staff | ) edition.cnn.com time to read: +18 min

CNN —Former President Donald Trump and Vice President Kamala Harris are facing off for the first time Tuesday during ABC’s presidential debate. “I had no inflation, virtually no inflation,” Trump said. Harris introduced herself by name and said, “Let’s have a good debate.” Trump responded: “Nice to see you. Have fun.” Saul Loeb/AFP/Getty Images Trump and Harris stand on stage at the start of the debate. “But understand if Donald Trump were to be elected, he will sign a national abortion ban.

Persons: Donald Trump, Kamala Harris, Harris, Donald Trump’s, Trump, Katie Lobosco, MAGA, “, ” Trump, Daniel Dale, Tami Luhby, Chip Somodevilla, he’s, FactCheck.org, Steven Cheung, Cheung, Kaanita Iyer Trump, Joe Biden, ”, gotaways, Michelle Mittelstadt, Piper Hudspeth Blackburn, David Muir, Linsey Davis, Michael Le Brecht, Alex Brandon, Doug Mills, Pat Tuttle, George Walker IV, Saul Loeb, Tristen Rouse, CNN Harris, Win McNamee, Sheena Carey, Morry Gash, Matthew Hatcher, ” Saul Loeb, Roberto Schmidt, Andrew Thomas, Robert F, Kennedy Jr, Kennedy, Jim Lo Scalzo, Anthony Scaramucci, Olivia Troye, Matt Rourke, Hannah Beier, Lilly, Evelyn Hockstein, Matt Slocum, Kenny Holston, ” Harris, Noah Weinrich, Kaanita Iyer, Feedback Trump, John Roberts, Devan Cole Trump, Sen, JD Vance, ” Vance, Michael Williams Trump, United States –, Katie Lobosco Harris, –, Mike Pence, Rather, “ Joe Biden, Ella Nilsen Trump, Elisabeth Buchwald Organizations: CNN, Trump, Center for American Progress, Fund, CAP, Peterson Institute for International Economics, Center, CNN Trump, Breitbart News, Border Patrol, Biden, Patrol, Republicans, Migration, Institute, ABC News Trump, National Constitution Center, New York Times, Bloomberg, Getty Images, Getty, Pennsylvania Convention Center, People, Philadelphia International Airport, AFP, Philadelphia City Hall, Former Trump, Reuters, ABC, Force, Democratic, Convention, Leadership, Heritage, United States Supreme, White, City, Springfield News, Sun, Springfield Police, United States, US International Trade Commission, Treasury, Consumer, Bureau of Labor Statistics Locations: Pennsylvania, Philadelphia, United Kingdom, Venezuela, United States, Nashville , Tennessee, Washington ,, Washington , DC, Milwaukee, AFP, Springfield , Ohio, “, Springfield, City, China, American

☆ Fact check: Trump and Vance keep falsely describing how tariffs work
▼ + stars: | 2024-09-09 | by ( Katie Lobosco | ) edition.cnn.com time to read: +8 min

Washington CNN —Former President Donald Trump and Republican vice presidential nominee Sen. JD Vance continue to falsely describe how one of their major policy proposals, across-the-board tariffs, would work. Trump has falsely, and repeatedly, claimed that China – not US importers – pay the tariff. Facts First: Trump and Vance’s claims about how tariffs work are false. Together, the price increases cost consumers more than $1.5 billion during the first year the tariffs were in place. It’s true that after Trump imposed tariffs on foreign-made steel, some American steel companies reopened mills and created new jobs.

Persons: Donald Trump, Sen, JD Vance, Trump, Kamala Harris, ” Trump, “, ” Vance, ” “, ”, Erica York, Joe Biden, Rick Muskat, Howard Gleckman, Jeff Ferry, Ferry Organizations: Washington CNN, Republican, Democratic, Fox News, Trump, Tax, US, US International Trade Commission, US Treasury, US Customs, Protection, Deer Stags, CNN, Brookings Tax, Coalition for, Prosperous, Tax Foundation, China Business Locations: China, Arizona, Wisconsin, American, United States, South Korea, Mexico, Prosperous America

☆ The Trump policy that freaks out economists the most
▼ + stars: | 2024-09-05 | by ( Matt Egan | ) edition.cnn.com time to read: +9 min

New York CNN —Former President Donald Trump wants to spend trillions of dollars on tax cuts. “It’s enormously protectionist and terrible economic policy,” said Holtz-Eakin, who served as an economic adviser to former President George H.W. The cost of the Trump tax cutsTrump has called for extending his signature 2017 tax cuts, which expire next year if no action is taken by Congress. Trump has argued that extending the tax cuts will boost the economy, create jobs and help families. The Trump campaign has not detailed significant spending cuts or tax hikes to offset these tax cuts.

Persons: Donald Trump, Trump, Goldman Sachs, Kamala Harris, Goldman, “, ” David Kelly, Kelly, “ It’s, ”, ’ Trump, Douglas Holtz, Eakin, Holtz, George H.W, Bush, GOP Sen, John McCain, Mark Zandi, ” Zandi, Karoline Leavitt, they’ll, ” Leavitt, Trump’s, ” Harris, “ Donald Trump, ” Brian Nelson, Harris, Kimberly Clausing, Mary Lovely, ” Trump, Joe Biden, Penn, Penn Wharton, The Trump, CNN’s Katie Lobosco Organizations: New, New York CNN, Asset Management, CNN, America, New York Economic Club, American, GOP, Moody’s, Trump, Peterson Institute for International Economics, Peterson Institute, US Customs, Louis Federal Reserve, Biden, Congress, Princeton University, University of Chicago, Harvard University, US Treasury Department, Penn Wharton Model, Social Security Locations: New York, United States, China, America

☆ Federal appeals court issues another blow to Biden’s student loan repayment plan
▼ + stars: | 2024-08-09 | by ( Devan Cole | Katie Lobosco | ) edition.cnn.com time to read: +2 min

Washington CNN —A federal appeals court delivered on Friday another blow to President Joe Biden’s student loan repayment plan, siding with Republican-led states that asked it to block further implementation of the plan until their challenge to it is resolved. Those borrowers have been placed in an interest-free forbearance during which they are not required to make monthly student loan payments. The high court is already considering a separate request from the administration stemming from another challenge to the plan. SAVE is one of the Biden-Harris administration’s key student loan policies. SAVE was launched soon after the Supreme Court knocked down Biden’s signature, one-time student loan forgiveness program last summer.

Persons: Joe Biden’s, Biden, ’, Raymond Gruender, George W, Bush, Ralph Robert Erickson, Leonard Steven Grasz, Donald Trump, Harris Organizations: Washington CNN, Republican, of Education, Circuit, Appeals, Department, Education, SAVE, Biden

Here are some of the progressive measures Walz has enacted as governor:Child tax creditMany lower-income Minnesota families can access a state child tax credit, which Walz signed into law last year. Free college tuitionLast year, Walz signed a bill into law that made college tuition free for students from Minnesota families who earn less than $80,000 a year. Walz’s executive order directed state agencies to study the effectiveness of the care and investigate any health organization that denied it. The bill also raised the sales tax in the seven-county Twin Cities metropolitan area by 0.25% to create a permanent funding stream for Minnesota housing programs. Voting rights for ex-felonsLast year, Walz signed a bill into law that restored voting rights to more than 55,000 formerly incarcerated people in Minnesota.

Persons: Biden, Tim Walz, Kamala Harris, Joe Biden, Harris, Walz, ”, Roe, Wade, ” Walz, It’s, –, Walz “, Tim ”, Sandra Feist, “ Organizations: CNN, Minnesota Gov, Democratic, Tax Foundation, Free, North, Minnesota, US, Guttmacher Institute, Universal, US Centers for Disease Control, Income Housing Coalition, Twin, Republicans Locations: Minnesota, Iowa, Twin Cities, Minnesota . Minnesota

JD Vance speaks at the Republican National Convention in Milwaukee, on July 17. Will Lanzoni/CNNMany of America’s closest allies were already dreading the prospect of Donald Trump’s return to the White House. Now that the former president has picked JD Vance as his running mate, they potentially have a lot more to worry about. By choosing Vance, Trump has sent a clear signal that, if elected, his America-first foreign policy will be back in force. His nomination puts an end to the hopes by some of America’s allies that Trump might soften his foreign policy stance if reelected.

Persons: Vance, Will Lanzoni, America’s, Donald Trump’s, JD Vance, Trump, ” Organizations: Republican National Convention, CNN, Trump, NATO, Labour, Munich, Conference, East Locations: Milwaukee, America, Ohio, Ukraine, Russia, United Kingdom, East Asia, China

☆ Fact-checking night 4 of the Republican National Convention
▼ + stars: | 2024-07-18 | by ( Cnn Staff | ) edition.cnn.com time to read: +8 min

CNN —The final night of the Republican National Convention has kicked off in Milwaukee. Pompeo’s claim about the southern border under TrumpFormer Secretary of State Mike Pompeo claimed at the Republican National Convention Thursday that the US-Mexico border was “closed” during Donald Trump’s presidency. Facts First: This characterization of Trump’s tariffs is misleading. It’s true that Trump’s tariffs on China raised billions of dollars for the US government, but the duties were paid by US companies – not China. For example, Trump’s tariffs were imposed, in part, to boost the US manufacturing sector – but that industry lost jobs.

Persons: Donald Trump, Mike Pompeo, Donald Trump’s, Trump, Joe Biden, Devan Cole Trump, “, Daniel Dale Pompeo’s, “ We’d, ” Pompeo, Glen VanHerck, CNN’s Haley Britsky Linda McMahon’s, Linda McMahon, Erica York, Katie Lobosco, Ronald Reagan’s, Jimmy Carter, Carter, Affairs didn’t, Joe Biden ”, Daniel Dale Organizations: CNN, Republican National Convention, Trump Former, Republican, Convention, Trump, Biden, Republicans, Democrats, Electoral, Infrastructure Security Agency, Department of Homeland Security, Northern Command, North American Aerospace Defense Command, Small, US International Trade Commission, Tax Foundation, Federal Reserve, Foreign Affairs, Affairs Locations: Milwaukee, Mexico, Afghanistan, United States of America, China, America, United States

☆ IRS collected $1 billion in back taxes from millionaires in less than a year
▼ + stars: | 2024-07-11 | by ( Katie Lobosco | ) edition.cnn.com time to read: +3 min

Last fall, the IRS launched an initiative to collect from wealthy individuals who have not paid the taxes they owe. Prior to the Inflation Reduction Act, the IRS did not have the staffing or resources to pursue high-income earners that the agency knew owed taxes, IRS Commissioner Danny Werfel said on a call with reporters. Targeting wealthy tax cheatsThe IRS has launched a series of initiatives over the past two years to crack down on wealthy tax cheats. Some of the funding from the Inflation Reduction Act is being used to modernize taxpayer services. Battles over IRS fundingThe Inflation Reduction Act, which passed without any Republican votes, approved about $80 billion for the IRS over a 10-year period.

Persons: Biden, Danny Werfel, ” Werfel Organizations: Washington CNN, Internal Revenue Service, Democrat, Republicans, IRS

CNN —A major Supreme Court ruling Friday that shifted power from the executive branch to the judiciary stands to transform how the federal government works. By overturning a 1984 precedent, the court’s conservative majority has made countless regulations vulnerable to legal challenge. The Supreme Court ruling could boost efforts by conservatives who have taken aim at the Biden Environmental Protection Agency’s rules limiting planet-warming pollution from vehicles, oil and gas wells and pipelines, and power plants. The ruling has injected legal uncertainty into regulations of all types, including those on technology, labor, the environment and health care. But the Supreme Court has yet to decide a case heard this term that might gut that limitation.

Persons: ”, Kent Barnett, —, Thomas Berry, John Roberts, Roberts, Elena Kagan, Sonia Sotomayor, Joe Biden, Shawn ThewPool, Adam Rust, ” Rust, Andrew Schwartzman, Alexander MacDonald, ” MacDonald, Sharon Block, ” Block, Biden, Andrew Twinamatsiko, ” Twinamatsiko, “, Paul Gallant, TD Cowen, David Vladeck, Chevron —, Ann Carlson, Carlson, David Doniger Organizations: CNN, Biden, University of Georgia School of Law, Chevron, Natural Resources Defense, Republican, Democratic, Cato Institute . Chief, State of, Consumer, Consumer Financial Protection Bureau, Federal Trade Commission, Consumer Federation of America, “, Supreme, Securities, Exchange Commission, Benton Institute for Broadband & Society, Department of Labor, National Labor Relations Board, Opportunity Commission, Harvard Law School, Center, Labor, American Cancer Society, US Food and Drug Administration, US Department of Health, Human Services, Medicare, Services, Medicaid, Human Services Department, HHS, O’Neill Institute for National, Global Health Law, Georgetown University, FDA, Federal Communications Commission, EPA, National, Traffic Safety Administration, University of California, Natural Resources Defense Council Locations: Obamacare, Chevron, State, Washington , DC, Texas, Littler, Los Angeles

☆ Fact checking the CNN presidential debate
▼ + stars: | 2024-06-27 | by ( Cnn Staff | ) edition.cnn.com time to read: +69 min

CNN —President Joe Biden and former President Donald Trump faced off during CNN’s presidential debate in Atlanta Thursday night. From CNN’s Daniel DaleFormer President Donald Trump and President Joe Biden debate at CNN's Atlanta studios on June 27, 2024. From CNN’s Daniel Dale and Ella NilsenFormer President Donald Trump, left, and President Joe Biden take part in the CNN presidential debate on Thursday, June 27. From CNN’s Alicia WallaceFormer President Donald Trump and President Joe Biden debate at CNN's Atlanta studios on June 27, 2024. Kpler found that China imported about 511,000 barrels per day of Iranian crude in December 2020, Trump’s last full month in office.

Persons: Joe Biden, Donald Trump, Biden, Trump “, “, ” Trump, ”, Trump, ” John Kelly, servicemembers, Kelly, Jim Sciutto, Daniel Dale, Kaanita Iyer, Roe, Wade, That’s, Wade ”, Kimberly Mutcherson, “ Donald Trump’s, Maya Manian, Trump’s, Mary Ziegler, Davis, Ziegler, Ruth Bader Ginsburg, Roe should’ve, ’, Will Lanzoni, ” Biden, corpsman —, Hamid Karzai, CNN’s Haley Britzky, didn’t, Priscilla Alvarez, George Floyd, Tim Walz, Walz, Paul –, CNN’s Holmes Lybrand, Daniel Dale FACT, European Union won’t, Ella Nilsen, Jill Biden, Jake Tapper, Dana Bash, Adam Rose, CNN US Sen, Marco Rubio, CNN Trump, Austin Steele, CNN Biden, Tristen Rouse, CNN Tapper, Robert F, Kennedy Jr, Kennedy, CNN MJ Lee, Mandel Ngan, Megan Varner, Reuters Kennedy, Burk Stringfellow, Iran “, Mike Pompeo, ” Pompeo, Tami Luhby Trump, CNN’s KFILE, weren’t, Hillary Clinton, affirmatively, it’s, what’s, –, Alicia Wallace, Obama, CNN’s Ella Nilsen, you’re, Biden’s, Hunter Biden, Joe Biden’s, Viktor Shokin, Shokin, CNN’s Marshall Cohen, “ It’s, Rick Muskat, CNN.So, Morgan, Katie Lobosco, Alvin Bragg’s, Bragg, Jack Smith, Smith, General Merrick Garland, Garland, Matthew Colangelo, Colangelo, I’ve, there’s, Iran haven’t, ” Matt Smith, Ali Vaez, Kpler, Gary Engelhardt, Jason Richwine, ” Richwine, Tami Luhby, Confederate, Robert E, Lee, marchthat, “ I’m, Elle Reeve, Ralph Northam, Jen Christensen, ” Trump’s, Ronald Reagan’s, Barack Obama, George W, ‘, ’ ” Trump, CNN’s Jen Christensen, Pelosi, Nancy Pelosi, “ Nancy Pelosi, …, Alexandra Pelosi, Aaron Bennett, Cherry, Christopher Miller, Miller, Charis Kubrin, CNN’s Catherine Shoichet, ” Kubrin’s, Graham Ousey, College of William & Mary, Erwan, George Washington, Marshall Cohen, ” Howard Gleckman, Gleckman, Emmanuel Saez, Gabriel Zucman “, Howard Gleckman, ” Gleckman Organizations: CNN, Trump, Homeland Security, SSRS, Marquette Law School, NBC, Gallup, ” Rutgers Law, American University, university’s Health, University of California, Atlanta, US Navy, Border Patrol, Border Patrol Council, National Guard, Minneapolis Former, Minnesota Democratic Gov, Minnesota National Guard, Guard, EU, European Union, US, European Automobile Manufacturers ’ Association, CNN US, Biden, House, CNN Biden's, CNN Biden, White House, Getty, Reuters, State, Medicare, Black, of Labor Statistics, Republican, Burisma Holdings, International Monetary Fund, Republicans, House Republicans, US International Trade Commission, US Customs, Deer Stags, Peterson Institute for International Economics, Justice Department, DOJ, DC, federal, Department, Democrat, Americas, Crisis, Social Security, Social, General Internal Medicine, “, Syracuse University, Center for Immigration Studies, Electoral, White, Nazi, US Centers for Disease Control, Former Virginia Gov, United, China Former, China, Hamas, ISIS, Trump’s, Democratic, Congressional, Capitol, Colorado Supreme Court, US Food, Guttmacher Institute, California Democrat, Capitol Police Board, Senate, District of Columbia National Guard, College of William &, NATO, Atlantic Treaty Organization, George Washington University’s Elliott School of International Affairs, Transatlantic, Urban, Brookings Tax, Urban Institute, ”, Tax, Center Locations: Atlanta, France, Afghanistan, Kabul, Jordan, Iran, Somalia, Yemen, Yakushima Island, Japan, Minneapolis, Portland, Minnesota , Minneapolis, St, EU, Georgia, CNN's, Washington ,, AFP, Lebanon, Israel, what’s, Paris, China, India, Russia, United States, Ukrainian, Ukraine, lockstep, American, Manhattan, New York , Georgia, Florida, Washington, New York, York’s, Mexico, Kpler, Malaysia, Charlottesville, Charlottesville , Virginia, White, Virginia, Northam, East, “, New York City, Saudi, al Qaeda, Texas, Colorado, California, Trump, Irvine, Germany, Berkeley

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