Executive Trump

Does Trump’s Executive Order Mean There’s No $1,200 Second Stimulus Check Coming? – Forbes

Negotiations For New Coronavirus Relief Package Continue At The Capitol

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The Trump administration will continue talks to resolve what the next round of stimulus relief should look like—with the goal of finding a resolution soon, Treasury Secretary Steven Mnuchin said on Monday. 

“If we can get a fair deal we’re willing to do it this week,” Mnuchin said during an interview with CNBC.

The discussions, led by Mnuchin, White House Chief of Staff Mark Meadows, House Speaker Nancy Pelosi, (D-CA) and Senate Minority Leader Chuck Schumer, (D-NY) so far have not led to an agreement. 

As of last week, Democrats wanted to spend roughly $3 trillion on a rescue package known as the HEROES Act. Republicans, however, have supported their $1 trillion bill called the HEALS Act. Negotiations ground to a halt on Friday.

To circumvent the congressional tug-of-war, President Donald Trump signed a memorandum on Saturday, outlining four distinct areas of action:

  • Extend the federal unemployment benefit, which expired July 31, and reducing it to $400 a week, down from $600. The federal government will pay 75%, with states expected to come up the remaining 25%. This weekly benefit is in addition to regular state unemployment benefits, which vary in amount depending on the state.
  • Pause the payroll tax until the end of the year. This benefit would only apply to those making less than roughly $100,000 per year. 
  • Suspend interest on federal student loans and payments through the end of the year, extending this delay past the current date of Sept. 30. 
  • Call for an extension to the current eviction ban, specifically asking the Department of Health and Human Services and the Centers for Disease Control and Prevention to “consider” whether an extension to the current eviction ban is needed and to identify “any and all available federal funds” that could be used to prevent renters from eviction.

Next Steps Are Coming … Slowly

Although Trump’s executive actions were intended as a stop-gap measure while talks continue between the administration and Democrats, the two sides don’t appear to be any closer to reaching an agreement and have taken to criticizing each other in media appearances.

On Sunday, Pelosi and Schumer released a joint statement calling the president’s actions “meager” and that they “provide little real help to families.”

In a press conference today, White House press secretary Kayleigh McEnany fired back, saying that the “Democrats rejected multiple clean bills to provide relief.” 

Still, negotiations are expected to continue this week, as even with the president’s executive orders, there remains much to be resolved. For example, according to the president’s memorandum, states will have to apply for funding in order to shore up their portion of the required 25% of the $400 weekly unemployment assistance.

And, although there appears to be bipartisan agreement that the Paycheck Protection Program, a forgivable and low-interest loan program created as part of the CARES Act to help aid small businesses struggling to survive the pandemic, should receive additional funding, the exact terms have not yet been agreed upon.

It’s also worth noting that Trump did not outline any provisions for a second stimulus check, something both Democrats and Republicans say they support.

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Executive latest

With latest executive orders, Trump gets approval from his golf club crowd – POLITICO

People wait to watch President Donald Trump speak at Trump National Golf Club Bedminster in New Jersey on Aug. 7, 2020. | Susan Walsh/AP Photo

BEDMINSTER, N.J. — As White House negotiators and Democrats tried — and failed — to reach a deal that could help the millions of Americans who are unemployed and facing evictions, the man who calls himself a master dealmaker was missing in Washington.

President Donald Trump had retreated at the end of last week to his private club here in New Jersey, where he watched his political troubles mount: His poll numbers against Joe Biden were sliding, and White House negotiators failed to force Democrats to cave and reach a deal that would address the pressing concerns of a nation ravaged by the coronavirus pandemic and exhausted by the economic side effects.

Frustrated by the gridlock and his own grim political news, Trump did what has become routine for the president when he faces political impasse: He ordered his aides to draw up executive actions to sign and asked his team to assemble the press, in an attempt to put a Trumpian spin on the failures back in Washington.

To the delight of club members in pastel-colored polo shirts and golf cleats who, at times, sounded like a sitcom laugh track for the president’s jabs at Democrats and the press, the president put on back-to-back shows in the ballroom of his property.

The news conferences and executive actions were reminiscent of other times when Trump decided to act on his own when unable to reach a deal, like when he declared a national emergency to get funds for the border wall and end an argument over funding that shut down the government. And while the signings and speeches gave the optics of progress, it’s doubtful the power of pen will completely alleviate the financial pain being felt by millions across the country as the virus continues to spread. Questions have already been raised about the legality of the measures and how they will be funded.

Trump’s own aides acknowledged that executive actions would fall far short of what was needed to tackle the economic crisis, but the president wanted to convince the public otherwise.

On Friday evening, Trump stepped out to a podium set up in a ballroom of his club with crystal chandeliers and tall windows overlooking a perfectly groomed golf course, to send a threat to Congress that if a deal wasn’t made he would act on his own. But by that night there were no more plans for negotiations and his team was already drawing up executive actions for him to sign.

Then on Saturday, the president walked out to the podium once more with four leather-bound folders filled with official documents to sign. He declared that his actions would “take care of, pretty much, this entire situation,” and said once again that the virus — which has infected more than 5 million people in the U.S., has claimed the lives of over 164,000 and continues to spread — was “disappearing.”

The president touted the measures he was taking as “important” and signed actions to give unemployed Americans $400 in weekly assistance ($200 less than what people had been receiving), and deferrals of payroll taxes and federal student loans. He also issued a vague memo that directs the secretaries of Housing and Urban Development and the Treasury to identify “any and all Federal funds to provide temporary financial assistance to renters and homeowners” who are unable to pay rent or mortgages because of the coronavirus.

“So, that’s the story,” Trump said on Saturday, as he closed the cover of an executive action he’d just signed, and then handed his signature Sharpies to club-goers.

But Trump’s version of the story failed to acknowledge just how little his executive actions would accomplish, the potential legal challenges, and the major hurdles still facing the country. In his remarks, the president placed blame on Democrats for wanting additional measures, like in a deal to address the coronavirus, even though he personally pushed for things such as money for a new FBI building in downtown D.C.

Also missing from what the president said was the fact that it was Senate Republicans who couldn’t muster the votes in their own caucus to advance a relief bill — months after House Democrats passed their own version to address the ongoing crisis.

Democrats immediately panned the executive actions. Senate Minority Leader Chuck Schumer, appearing Sunday morning on ABC News’ “This Week,” called them “paltry.”

“Unfortunately, the president’s executive orders, described in one word, could be paltry; in three words, unworkable, weak and far too narrow,” the New York Democrat said. “The event at the country club is just what Trump does, a big show, but it doesn’t do anything.”

A White House official on Saturday said the president had the “upper hand” by moving forward with actions and showing how little the Democrats were willing to actually negotiate.

“It just shows Trump is willing to get things done and work on the weekends, unlike Chuck and Nancy,” said Jason Miller, a Trump campaign adviser, referring to the minority leader and House Speaker Nancy Pelosi.

But throughout negotiations the president himself was largely missing, although he said he was updated regularly by his chief of staff, Mark Meadows, and Treasury Secretary Steven Mnuchin. And while the country has been rocked by the pandemic, the president has not spoken to Pelosi since last year, and suggested he wouldn’t anytime soon.

“We’ll see what happens, but right now they’re not ready,” Trump said, referring to Democratic lawmakers. “And they’re not ready because, frankly, I don’t think they care about people.”

The president was happy with how the news conferences went, according to aides, especially in the company of members from his club. Some came straight from happy hour holding glasses of wine.

Ahead of the first news conference, according to CNN, the president was heard on a microphone telling members: “You’ll get to meet the fake news tonight. You’ll get to see what I have to go through. Who’s there? Oh, all my killers are there, wow. So you’ll get to see some of the people that we deal with every day.”

People in the room booed and hissed when a reporter asked why members at his club appeared to be flaunting New Jersey guidelines by crowding into the room. Trump called it a “peaceful protest” at his country club.

“You know, you have an exclusion in the law. It says peaceful protest or political activity, right?” Trump said. “I call it a peaceful protest because they heard you were coming up and they know the news is fake, they know it better than anybody.”

The weekend was meant to help Trump reset. On Friday, the president met with his top campaign advisers, including Bill Stepien and Jason Miller, at Bedminster, and spent time Friday and Saturday with one of his closest allies, Sen. Lindsey Graham (R-S.C.). On Saturday morning, Trump and Graham called into a South Carolina Republican Party meeting, according to a person familiar. First lady Melania Trump and their son Barron spent the weekend at Bedminster, too.

The weekend away was also part of a big fundraising push by the Republican National Committee. RNC Chairwoman Ronna McDaniel traveled with the president on Marine One and accompanied him at exclusive fundraisers on Thursday in Ohio, and then over the weekend in the Hamptons and New Jersey. On Saturday, Trump got a boost from hobnobbing with friends at fundraisers at the ritzy homes of the Wall Street billionaire John Paulson and Trump’s eldest son, Donald Jr., in the Hamptons that raised $15 million for Trump Victory.

His Sunday fundraiser took place on the shore of New Jersey in Long Branch, where people acted as if there was no pandemic. Supporters, not socially distanced and without masks, crowded along the side of the road to see the president.

But even though the pandemic seemed far away for some of the public in New Jersey, the president had a gut-wrenching reminder of the virus’s toll when he visited. His final fundraiser of the weekend was held at the home of Stanley Chera, an old friend of the president’s and a fellow real estate tycoon who died of the coronavirus this spring.

“A great person, and a very early supporter,” Trump said. “Unfortunately, he didn’t make it.”

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Executive shakes

Nike shakes up its executive team to bolster its digital business, announces job cuts – CNBC

John Donahoe took over as Nike CEO in January 2020.

Kim Kulish | Corbis via Getty Images

Nike on Wednesday announced a number of leadership changes as well as job cuts, in an effort to focus on its digital business and selling more directly to customers as the coronavirus pandemic shifts buying habits. 

The company said the changes it is making will lead to a “net loss of jobs across the company,” which will result in pretax, one-time employee termination costs of roughly $200 million to $250 million. As of May 31, 2019, Nike had approximately 76,700 employees worldwide, according to its annual report. 

A spokeswoman declined to tell CNBC exactly how many jobs will be affected but insisted that this is not a cost-cutting move and instead is meant to invest resources in stronger parts of the business. 

Among the leadership changes, which are all listed here, Nike has named the former head of its global categories, Amy Montagne, as vice president of its men’s business. It named the former head of its specialty businesses, Whitney Malkiel, as head of its women’s business. The former head of Nike’s North American kids business, McCallester Dowers, has been named head of kids globally. They are all reporting to Michael Spillane, who is becoming head of a new consumer creation division, Nike said. 

“We are announcing changes today to transform Nike faster, accelerate against our biggest growth opportunities and extend our leadership position,” Nike President and Chief Executive Officer John Donahoe said in a statement. “Now is the right time to build on Nike’s strengths and elevate a group of experienced, talented leaders who can help drive the next phase of our growth.” 

Donahoe had hinted when Nike reported earnings last month that the retailer was looking to streamline its business with a focus on digital, as it took a hit from the Covid-19 pandemic. 

While it reported an unexpected fiscal fourth-quarter net loss and a sales decline of 38% year over year, Nike’s digital sales soared 75%, representing about 30% of total revenue, as shoppers flocked to Nike’s website for sneakers and workout gear. 

A number of retailers, including Macy’s, J.C. Penney, Levi’s, Men’s Wearhouse owner Tailored Brands and Sephora, have announced permanent layoffs among corporate staff and workers at the store level during the pandemic. Dozens, including J.Crew and Neiman Marcus, have filed for bankruptcy. 

Nike was seen as one of the strongest in the industry heading into the crisis. Its revenues in fiscal 2019 jumped to more than $39 billion, up from $36.4 billion the year prior. The company has increasingly focused on investing in its own stores and website versus wholesale channels such as department stores. 

Nike, which also owns the Converse brand, had 384 stores including outlet locations in the U.S. as of its latest annual filing. 

Nike shares were down less than 1% in morning trading. The stock is down about 3% this year. Nike has a market cap of $153 billion. 

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Executive Trump

New Trump Executive Order Aims to Support Economy by Rolling Back Business Regulations – Newsweek

President Donald Trump
President Donald Trump
Doug Mills/The New York Times-Pool/Getty Images

President Donald Trump plans to sign an executive order that he says will expedite the nation’s economic recovery after the coronavirus epidemic by loosening some governmental regulations—including those that could create environmental or labor issues.

“We’re fighting for the livelihoods of American workers, and we must continue to cut through every piece of red tape that stands in our way,” Trump said during a cabinet meeting at the White House on Tuesday. “With millions of Americans forced out of work by the virus, it’s more important than ever to remove burdens that destroy American jobs.”

The full text of Trump’s executive order wasn’t immediately signed or released to the media.

But Trump described the effort as a plan to “waive, suspend and eliminate unnecessary regulations that impede economic recovery.”

“And we want to be able to leave it that way,” Trump said. “In some cases we won’t be able to, but in other cases we will.”

Trump already has built a track record on upending environmental and some workforce regulations during his first three years in office.

“We’ve done more regulation cutting than any president in history,” Trump boasted during Tuesday’s cabinet meeting. “It’s really something.”

On Tuesday, he said he latest executive order would streamline projects and encourage economic development.

More than 36 million people have filed jobless claims in America since the coronavirus pandemic began this spring, according to the Labor Department.

Trump has spent recent days meeting with farmers, restaurant industry executives and other business leaders affected by the virus.

Trump, who has a business background and ran as a Republican in favor of deregulation efforts, said cutting bureaucracy was a hallmark of his “Make America Great Campaign” of 2016. He likely faces presumptive Democratic nominee Joe Biden on the November 3 ballot.

“We’ve had cases where it would take 20 years to build a highway,” Trump said of his experience in government. “I lived with it in the private sector also.”

Trump recently has faced a backlash from labor groups for requiring meat processing companies to stay open amid coronavirus outbreaks among workers at the facilities. Trump has also used executive orders to roll back environmental policies.

His latest executive order, cutting out regulations at “that impede economic recovery,” could face similar challenges.

A recent review from the New York Times found the administration had used similar arguments to reverse or roll back more than 60 environmental rules and regulations, with 34 more in progress.

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