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Scandals Republicans Like - NYTimes.com - 0 views

  • what if the truth is more pedestrian: that the I.R.S. is simply not adequately funded to do its job and that Republicans are the ones who have kept the agency underfunded?
  • Republican zeal for reducing the size of government, particularly its tax collecting apparatus, has left the I.R.S. ill-equipped to perform its functions, one of which is to review applications for tax-exempt status from groups claiming to be “social welfare” organizations under section 501(c)(4) of the Internal Revenue Code.
  • Was there, Connolly asked, “a triggering event that flooded the I.R.S. with new applications?” Answering his own question, Connolly said “the triggering event is the Supreme Court ruling, Citizens United. The number of applications between 2009 and 2012 for a 501(c)(4) doubled from 1,751 to 3,357.” Citizens United was decided on Jan. 21, 2010.
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  • Under intense pressure to meet I.R.S. production targets, civil servants – including registered Republicans — adopted the practice of flagging phrases like “tea party” to speed identification of applications requiring careful examination.
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  • R.S. appropriation has gone up during periods of Democratic control and down when Republicans have controlled at least one branch of Congress
  • the I.R.S. commissioner, described the effect of these cuts to the Way and Means Committee. “No challenge facing our agency is greater than the significant reduction in funding that has occurred over the last several years,” he said. “I am deeply concerned about the ability of the I.R.S. to continue to fulfill its mission if the agency lacks adequate funding. Our current level of funding is clearly less than what the agency needs.”
  • Koskinen observed that cuts in agency funding have reduced audits of corporations and of wealthy citizens: “Audits of high-income individuals – defined as those with $1 million or more in income – fell 3.7 percent as well last year. The I.R.S. examined approximately 61,000 business returns in FY 2013, down 13 percent from FY 2012.”
  • Republicans are aware of what happens to tax collections from the rich when the I.R.S. budget is cut and seem happy to live with those consequences.
  • imilarly, the House Oversight Committee has been relentless in its efforts to blame the Obama administration for the Sept. 11, 2012 terrorist attack on the American diplomatic mission in Benghazi, when Ambassador Christopher Stevens and three others were killed. Committee Republicans have done so despite their own record of repeatedly voting to cut spending on security for state department personnel.
  • it’s no fun serving on an oversight committee when your own party is running the executive branch. The years when Republicans controlled the House and White House, 2001 to 2007, were a public relations disaster for the Oversight Committee. The panel pointedly avoided taking on the Bush administration despite a plethora of scandals: abuses in the Abu Ghraib prison, evidence that the claim Iraq possessed weapons of mass destruction was false, Jack Abramoff’s illicit lobbying, and the failure of the administration to respond to Hurricane Katrina.By the end of 2005, the committee had issued the Bush administration a total of 3 subpoenas, all on relatively noncontroversial matters.
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Bernie Sanders Narrows Fund-Raising Gap With Hillary Clinton - The New York Times - 0 views

  • Bernie Sanders Narrows Fund-Raising Gap With Hillary Clinton
  • Mrs. Clinton, who has been able to tap into one of the most successful fund-raising networks in American politics, reported raising more than $28 million for her primary campaign since the beginning of July, while Mr. Sanders, who has largely eschewed fund-raising from large donors, reported raising about $26 million.
  • when she brought in a total of $47.5 million, almost all of it for the primary campaign.
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The Families Funding the 2016 Presidential Election - The New York Times - 0 views

  • They are overwhelmingly white, rich, older and male, in a nation that is being remade by the young, by women, and by black and brown voters. Across a sprawling country, they reside in an archipelago of wealth, exclusive neighborhoods dotting a handful of cities and towns. And in an economy that has minted billionaires in a dizzying array of industries, most made their fortunes in just two: finance and energy.
  • Now they are deploying their vast wealth in the political arena, providing almost half of all the seed money raised to support Democratic and Republican presidential candidates. Just 158 families, along with companies they own or control, contributed $176 million in the first phase of the campaign
  • Not since before Watergate have so few people and businesses provided so much early money in a campaign, most of it through channels legalized by the Supreme Court’s Citizens United decision five years ago.
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  • But regardless of industry, the families investing the most in presidential politics overwhelmingly lean right, contributing tens of millions of dollars to support Republican candidates who have pledged to pare regulations; cut taxes on income, capital gains and inheritances; and shrink entitlement programs.
  • In marshaling their financial resources chiefly behind Republican candidates, the donors are also serving as a kind of financial check on demographic forces that have been nudging the electorate toward support for the Democratic Party and its economic policies. Two-thirds of Americans support higher taxes on those earning $1 million or more a year, according to a June New York Times/CBS News poll, while six in 10 favor more government intervention to reduce the gap between the rich and the poor. According to the Pew Research Center, nearly seven in 10 favor preserving Social Security and Medicare benefits as they are.
  • The donor families’ wealth reflects, in part, the vast growth of the financial-services sector and the boom in oil and gas, which have helped transform the American economy in recent decades. They are also the beneficiaries of political and economic forces that are driving widening inequality: As the share of national wealth and income going to the middle class has shrunk, these families are among those whose share has grown.
  • Most of the families are clustered around just nine cities. Many are neighbors, living near one another in neighborhoods like Bel Air and Brentwood in Los Angeles; River Oaks, a Houston community popular with energy executives; or Indian Creek Village, a private island near Miami that has a private security force and just 35 homes lining an 18-hole golf course.
  • More than 50 members of these families have made the Forbes 400 list of the country’s top billionaires, marking a scale of wealth against which even a million-dollar political contribution can seem relatively small. The Chicago hedge fund billionaire Kenneth C. Griffin, for example, earns about $68.5 million a month after taxes, according to court filings made by his wife in their divorce. He has given a total of $300,000 to groups backing Republican presidential candidates. That is a huge sum on its face, yet is the equivalent of only $21.17 for a typical American household, according to Congressional Budget Office data on after-tax income.
  • “The campaign finance system is now a countervailing force to the way the actual voters of the country are evolving and the policies they want,” said Ruy Teixeira, a political and demographic expert at the left-leaning Center for American Progress.
  • The accumulation of wealth has been particularly rapid at the elite levels of Wall Street, where financiers who once managed other people’s capital now, increasingly, own it themselves. Since 1979, according to one study, the one-tenth of 1 percent of American taxpayers who work in finance have roughly quintupled their share of the country’s income. Sixty-four of the families made their wealth in finance, the largest single faction among the super-donors of 2016.
  • instead of working their way up to the executive suite at Goldman Sachs or Exxon, most of these donors set out on their own, establishing privately held firms controlled individually or with partners. In finance, they started hedge funds, or formed private equity and venture capital firms, benefiting from favorable tax treatment of debt and capital gains, and more recently from a rising stock market and low interest rates
  • In energy, some were latter-day wildcatters, early to capitalize on the new drilling technologies and high energy prices that made it economical to exploit shale formations in North Dakota, Ohio, Pennsylvania and Texas. Others made fortunes supplying those wildcatters with pipelines, trucks and equipment for “fracking.”
  • The families who give do so, to some extent, because of personal, regional and professional ties to the candidates. Jeb Bush’s father made money in the oil business, while Mr. Bush himself earned millions of dollars on Wall Street. Some of the candidates most popular among ultrawealthy donors have also served in elected office in Florida and Texas, two states that are home to many of the affluent families on the list.
  • the giving, more broadly, reflects the political stakes this year for the families and businesses that have moved most aggressively to take advantage of Citizens United, particularly in the energy and finance industries.
  • The Obama administration, Democrats in Congress and even Mr. Bush have argued for tax and regulatory shifts that could subject many venture capital and private equity firms to higher levels of corporate or investment taxation. Hedge funds, which historically were lightly regulated, are bound by new rules with the Dodd-Frank regulations, which several Republican candidates have pledged to roll back and which Mrs. Clinton has pledged to defend.
  • And while the shale boom has generated new fortunes, it has also produced a glut of oil that is now driving down prices. Most in the industry favor lifting the 40-year-old ban on exporting oi
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A New Mission for Nonprofits During the Outbreak: Survival - The New York Times - 0 views

  • Upended by the coronavirus outbreak, nonprofits are laying off workers and seeking help from stretched donors.
  • Nonprofits like No Limits are ubiquitous in the United States: built on a dream, dedicated to good works, thinly capitalized. Like so much in American life, they have been upended — perhaps temporarily, maybe forever.
  • Crucial spring fund-raisers and conferences have been canceled or moved to less lucrative online venues. Donors are stretched in many directions, preoccupied with their own problems, and much less flush than they were two months ago. Nonprofits that are paid by local governments said new rules against large gatherings were making their services impossible to deliver, placing their existence at risk.
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  • “Everyone is losing revenue, and many have skyrocketing demand. You do the math,” said Tim Delaney, chief executive of the 25,000-member National Council of Nonprofits.
  • Relief efforts are underway. Foundations, traditionally not among the spryest of organizations, learned from 9/11 and severe hurricanes that they could move fast. They are quickly retooling to disburse emergency money and relax reporting requirements that are suddenly impossible to meet.
  • Bloomberg Philanthropies, Carnegie Corporation of New York, the Doris Duke Charitable Foundation and 23 other foundations as well as individual donors have created a $78 million Covid-19 rescue fund for New York City nonprofits. Grants will start going out to small and midsize social services and arts and cultural organizations on Monday. Interest-free loans will follow.
  • In hard-hit Seattle, the Seattle Foundation is administering a $14.3 million emergency program funded by local businesses, foundations and government. It released more than $10 million to 120 organizations this week.
  • Nonprofits on the front lines have been forced to be nimble. Meals on Wheels People in Portland, Ore., closed its 22 neighborhood dining locations on March 13 and switched to a no-touch delivery system for its 15,000 clients. To reduce contact even more, deliveries are made only three days a week, although they include more than one meal.
  • Demand, of course, is soaring — from a typical 10 to 15 new requests per day to as many as 100. But perhaps surprisingly, volunteers are signing up at an equally fast rate.
  • If there is any redeeming aspect of the crisis for nonprofits, it might be this: When people are allowed to re-emerge into a changed world, there will be renewed enthusiasm for many causes. Parks and wilderness, for example, have never seemed as alluring as they do now, when so many are restricted to a walk around the block.
  • First, though, things may get dicier. In a 2018 survey by the Nonprofit Finance Fund, a consultant, three-quarters of nonprofits said they would run out of cash in less than six months. Nineteen percent said they had only enough funds to last, at the most, for a month. Nonprofits live on the edge, pouring everything they have into their mission.
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Germany Calls for 10 Billion Euro Permanent U.N. Crisis Fund | World News | US News - 0 views

  • Germany Calls for 10 Billion Euro Permanent U.N. Crisis Fund
  • BERLIN (Reuters) - German Development Minister Gerd Mueller, citing hunger crises in eastern Africa, said the United Nations should create a permanent 10 billion euro ($11.19 billion) crisis fund, with contributions to be based on a country's financial strength. "The catastrophe is already upon us," Mueller said in an interview with the German newspaper Passauer Neue Presse, published on Saturday. He pointed to dire conditions in countries such as Kenya, Somalia, South Sudan and Ethiopia. Mueller said the United Nations estimated the financial needs in eastern Africa alone amounted to $4 billion to $5 billion. Creating a fund that would be continually restocked would make it easier to respond to recurring humanitarian crises, he said. "We need to accomplish this as a world community," he said.
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Trump, Hungry for Power, Tries to Wrestle Away G.O.P. Fund-Raising - The New York Times - 0 views

  • The former president this week escalated a standoff over the Republican Party’s financial future, blasting party leaders and urging his backers to send donations to his new political action committee — not to the institutional groups that traditionally control the G.O.P.’s coffers.
  • The aggressive move against his own party is the latest sign that Mr. Trump is trying to wrest control of the low-dollar online fund-raising juggernaut he helped create, diverting it from Republican fund-raising groups toward his own committee, which has virtually no restrictions on how the money can be spent.
  • What’s more, Mr. Trump’s advisers believe the future of party fund-raising is in low-dollar contributions, not the class of major donors who have mostly signaled that they want distance from him after his monthslong push falsely claiming that the Nov. 3 election had been stolen, which led to the Jan. 6 riot at the Capitol.
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  • People close to the former president say there has been no discussion about Mr. Trump giving himself a salary. But historically, his political committees have paid to use his properties, among other things, indirectly enriching him.
  • Mr. Holmes also said that as the Biden administration rolled out new policies like a nearly $2 trillion relief bill, Republicans would coalesce in opposition and develop new fund-raising constituencies.
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GOPers Crack Down On The Private Election Grants That Helped Avoid A Pandemic Fiasco | ... - 0 views

  • “I have no doubt that the concern stems from what happened in the 2020 election,” said Rick Hasen, a UC-Irvine law professor who runs the election law blog and has written several books about election administration. “Anything that helped that election run smoothly and effectively and cleanly is now the target for attack.”
  • The grant programs allowed many election administrators put on what one expert at NYU’s Brennan Center described as their “dream” elections. About one in every five local offices accepted the philanthropic funding.
  • The Republican push to prohibit private election election comes after the charity grants occupied a piece of conspiracy theories floating around the 2020 election — fueled by President Trump and his allies’ ongoing beef with Mark Zuckerberg, the Facebook founder whose charity put up more than $400 million in grants for election administration last year.
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  • “One impact of the proposal to ban private grants is to reduce funding for elections,” said Christian Grose, a University of Southern California professor and director of its USC Schwarzenegger Institute for State and Global Policy, which also distributed election grants in 2020. “By reducing funding for elections, it makes it harder and it closes polling places.”
  • Conservative activists rushed to court last year to try to block the grant programs, with lawsuits mainly targeting big, Democratic-leaning cities that had accepted the CTCL funding. The lawsuits — usually spearheaded by a conservative group known as the Amistad Project — claimed that CTCL was purposely funneling its donations towards jurisdictions with “progressive” voting patterns, supposedly with the goal of boosting urban turnout and electing Democrats. 
  • Such claims ignored that the grant was open to any jurisdiction that wanted to apply for it and met its criteria.
  • In Pennsylvania, more than half of the jurisdictions that accepted the CTCL local funding broke for Trump in 2020. Ninety-eight of the 117 Texas recipient jurisdictions voted for Trump in 2016. 
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President Biden blasts Republicans for touting Covid relief funds they voted against: '... - 0 views

  • President Joe Biden on Thursday criticized Republican lawmakers who have touted parts of the Covid-19 economic relief law that benefit their constituents despite having voted against the law, saying: "Some people have no shame."
  • No Republican in Congress voted for the American Rescue Plan when it passed earlier this year, but Biden noted several are now touting portions of the $1.9 trillion package that have gone toward their home districts.
  • Without saying any names out loud, the President said several Republicans have been taking credit for the Restaurant Revitalization Fund, which was recently established to help struggling restaurants and other businesses keep their doors open during the pandemic, and grants to community health care centers.
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  • The Covid-19 relief law also included direct payments to Americans worth up to $1,400 per person; a $300 federal boost to weekly jobless payments; $350 billion to states, local governments, territories and tribes; roughly $20 billion to state and local governments to help low-income households cover back rent; rent assistance and utility bills; beefed up tax credits for families and certain low-income workers for 2021; $125 billion to public K-12 schools to help students return to the classroom' made federal premium subsidies for Affordable Care Act policies more generous; and $14 billion for researching, developing, distributing, administering and strengthening confidence in vaccines.
  • Democrats were able to pass the legislation without Republican support using the budget reconciliation process, which allows lawmakers to bypass the 60-vote threshold typically required for ending debate on the Senate floor and moving legislation forward. Instead only a simple majority is needed to end debate.
  • The White House is now turning to Biden's next legislative priorities: the American Jobs Plan and the American Families Plan. Negotiations between the White House and Republican lawmakers have been intensifying in recent weeks over the infrastructure proposal, and Republicans on Thursday offered another counterproposal.
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Missouri Lawmakers May Refuse To Fund State's Medicaid Expansion : Shots - Health News ... - 0 views

  • It is hard to qualify for Medicaid as an adult in Missouri.
  • That was all set to change on July 1 because of a constitutional amendment voters approved last summer that made Missouri the 38th state to expand Medicaid coverage through the Affordable Care Act.
  • As it crafts the budget for the next fiscal year, the state legislature has moved to strip funding for Medicaid expansion.
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  • As many as 275,000 additional Missourians could get coverage — if there's funding for the program. But in the deep-red state, which voted for former President Donald Trump by more than 15 percentage points in 2020, lawmakers are looking to undo the voters' decision.
  • Complicating that argument is the state's current budget surplus, which Missouri's Republican governor estimated at nearly $1.1 billion for the 2021 fiscal year
  • Smith argued that spending on expansion is irresponsible, even though the federal government covers 90% of the costs for those covered under expansion. Compare that with the 60% of costs Washington covers for current Medicaid recipients.
  • "Medicaid expansion is wrong for Missouri. I think it's wrong for the state budget."
  • Some Republicans contend the rural districts they represent voted against the measure; others claim voters were misled.
  • "Even though my constituents voted for this lie, I am going to protect them from this lie."
  • Democrats argue that Republicans are pushing ideology over the will of the people, who voted by more than 6 percentage points to expand the program.
  • The big legal question of what happens if the legislature defies the constitutional amendment could still be rendered moot. The budget will now head to the state Senate, where Republicans are split over what to do. While some have said they support including expansion funding, others are still speaking out against it.
  • The deadline for those disputes to be resolved is July 1, the date the constitution states that eligibility will expand, regardless of funding.
  • Scientists Race To Develop Next Generation Of COVID Vaccines
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Trump Broke The Law In Freezing Ukraine Funds, Watchdog Report Concludes : NPR - 0 views

  • A federal watchdog concluded that President Trump broke the law when he froze assistance funds for Ukraine last year, according to a report unveiled on Thursday.
  • The White House has said that it believed Trump was acting within his legal authority.
  • Trump's decision to freeze military aid appropriated by Congress is at the heart of impeachment proceedings against the president
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  • Democratic lawmakers have accused Trump of abusing his office by withholding hundreds of millions in assistance in order to pressure Ukraine to investigate his political rivals.
  • The Office of Management and Budget blocked the Defense Department from spending money designated by Congress on July 25,
  • a 1974 law that governs budget procedure within the government "does not permit OMB to withhold funds for policy reasons,"
  • Documents and testimony released during and after House impeachment hearings revealed some administration officials had raised concerns that the Ukraine hold might have violated the law known as the Impoundment Control Act.
  • in early January that Defense Department emails showed repeated warnings from the department to OMB that the delays put its ability to distribute the aid at risk.
  • Sen. Chris Van Hollen, a Democrat from Maryland, asked the GAO to assess Trump's decisions to freeze the Ukraine aid.
  • Van Hollen said he thought the report vindicated Congress' decision to impeach Trump.
  • Majority Leader Mitch McConnell, R-Ky., opposes the introduction of fresh witnesses or evidence into a Senate trial, arguing the Senate's role is to assess the House's fact-finding, not to do new investigations on its own.
  • After release of the GAO report, the OMB said it disagrees with the findings.
  • "OMB uses its apportionment authority to ensure taxpayer dollars are properly spent consistent with the president's priorities and with the law," said OMB spokeswoman Rachel Semmel.
  • If the White House wants to delay or deny funds, it must first alert Congress.
  • Back in 2016, as she campaigned for Hillary Clinton, Laura Hubka could feel her county converting.
  • "People were chasing me out the door, slamming the door in my face, calling Hillary names," Hubka recalled.
  • In 2012, Howard County voted for then-President Barack Obama by 21 percentage points. In 2016, it voted for candidate Donald Trump by 20 points.
  • Of Iowa's 99 counties, 31 swung from voting for the Democrat Obama in 2008 and 2012 to the Republican Trump in 2016,
  • oward County, with its 41-point shift, saw the biggest swin
  • National reporters have descended on the county, trying to understand the massive shift
  • Whatever the reason, local Democrats want to make sure they can win back some voters.
  • they're torn on how to do that.
  • Hubka is not supporting the former vice president. Instead, she's backing Pete Buttigieg, the former mayor of South Bend, Ind. So is Dale Ernst.
  • "I think he's just kind of a calm voice in the middle of the chaos, which is what we're in the middle of now,
  • "I just don't think it's reasonable," he said. "I just really don't. I think for people younger than 65, they see this more free than, really, the cost of it."
  • The 66-year-old is skeptical of "Medicare for All."
  • "Amy Klobuchar is kind of right in the middle," Godwin said. "I like what she has to say."
  • "I will do my best to try to get this county back," said Hubka, the party chair. "I don't have high hopes. ... I don't know in November that it'll flip completely. I hope that I can get at least 10 of the points back or, you know, 15."
  • "Coming to a place like here, where the swing was 20 [for Obama] to 20 [for Trump], I think it steers the ship," he said. "It gives a good idea of where we should go."
  • The last time the county went for a Republican prior to Trump was in 1984 for Ronald Reagan. Four years later, it turned blue again.
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States Try to Rescue Small Businesses as U.S. Aid Is Snarled - The New York Times - 0 views

  • With the economic recovery faltering and federal aid stalled in Washington, state governments are stepping in to try to help small businesses survive the pandemic winter.
  • But there is a limit to what states can do. The pandemic has ravaged budgets, driving up costs and eroding tax revenues. And unlike the federal government, most states cannot run budget deficits.
  • “We have done what we can do to pump money into small businesses so that people can continue to work,” said Gov. Mike DeWine of Ohio, a Republican. “From the jobs point of view and the economy point of view and the workers’ point of view and small businesses, we’ve got to get that help from the federal government. That’s the only place we can get it.”
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  • On Tuesday, the White House proposed its own $916 billion plan, which would include more than $400 billion for small businesses.
  • Many small businesses say they can’t wait that long. A survey from the National Federation of Independent Business on Tuesday showed optimism falling and uncertainty rising as the nationwide surge in coronavirus cases leads governments to reimpose restrictions and consumers to pare their spending.
  • If that happens, it could be a disaster for both state economies and state budgets. Local businesses are major sources of tax revenue — both directly and through their employees — and major drivers of economic activity. If they fail in large numbers, it will slow the economic recovery once the pandemic is over.
  • “Even though we didn’t have to shut down like the restaurants and bars and the travel industries, it didn’t matter,” he said. “The business wasn’t there.”
  • In recent weeks, his company, Modular Systems Technicians, received a $10,000 grant from a new state fund to help small businesses. He also got money under a program that refunded $8 billion from the state workers’ compensation fund.“It helped,” Mr. Meurer he said. “It’s not nearly enough, but they did what they could.”
  • As part of the $2.2 trillion CARES Act last spring, Congress created a $150 billion fund that states could tap in responding to the virus. They were given wide latitude in using the money — as long as they did so before the end of the year.
  • “If we don’t help them get through this, will it ever come back?” Mr. Polis asked. “Sure, but it means years of boarded-up stores and restaurants on Main Streets across America if Democrats and Republicans can’t come together now to act.”
  • Some states are trying creative ways to stretch resources. California last month established a “rebuilding fund,” which will use a comparatively small amount of public money to provide loan guarantees to encourage for-profit and nonprofit lenders to make low-interest loans to small businesses.
  • Ms. Tyson said the loans should help businesses make investments to adapt to life during the pandemic
  • “I’m not concerned about how hard I can work, how I can connect with my customers or my community,” Ms. Stein said. “I am concerned that I will eventually run out of money.”
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China pledge to stop funding coal projects 'buys time for emissions target' | China | T... - 0 views

  • Xi Jinping’s announcement that China will stop funding overseas coal projects could buy the world about three more months in the race to keep global heating to a relatively safe level of 1.5C, experts say.
  • Ending Chinese coal financing has long been near the top of climate activists’ wishlists. For more than a decade, China has been the lender of last resort for overseas governments seeking finance for thermal power plants. That role has accelerated since the 2013 start of the country’s belt and road initiative (BRI).
  • Xi’s declaration is likely to affect at least 54 gigawatts of China-backed coal power projects,
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  • Lauri Myllyvirta, the centre’s lead analyst, said this was equivalent to about three months of global emissions. “These plants, if built and operated, would have emitted around 250-280 megatonnes of CO2 a year, which is roughly equal to the total emissions of Spain. Assuming an operating life of 35 years, the cumulative emissions would amount to 10 gigatonnes, or a year of China’s emissions, or three months of global emissions,”
  • there is evidence that 40% of the heavy equipment at new coal plants outside China and India comes from China
  • With coal now seemingly in terminal decline, climate activists are turning their sights towards oil, gas, and domestic coal power in China and India.
  • Despite the uncertainties over implementation, Myllyvirta said China’s announcement would accelerate decarbonisation. “Countries now know that going forward, there is no financing on the table for coal. That should clarify things a lot. Chinese delegates are going to visit Indonesia or Vietnam or Pakistan and they will be saying, ‘We don’t do coal any more, but we can help with clean energy.’ That will make a difference.”
  • Depending on implementation, other possible beneficiaries of this announcement could be the rhinos, giraffes, cheetahs and other endangered species at Zimbabwe’s Hwange national park, where two Chinese companies had hoped to extract the fossil fuel.
  • Another positive knock-on effect would be to push Japan to follow suit. The government in Tokyo has already taken steps in this direction but left a door open for financing by its private-sector institutions. Their geopolitical reason had been that they did not want to leave China as the only option for regional energy projects.
  • The immediate impact is likely to be felt in the countries that rely most heavily on Chinese funding for new coal projects: Indonesia, Vietnam, Bangladesh and Pakistan
  • Close to 58% of its power comes from the country’s 1,058 coal plants, almost half the total in the entire the world. This makes China far the biggest carbon emitter, pumping more than one out of every four gigatonnes that enter the atmosphere.
  • oughly half the country’s plants will have to close if the government 2060 net-zero target is to be achieved.
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Americans' support for more police spending in their area is growing | Pew Research Center - 0 views

  • The share of adults who say spending on policing in their area should be increased now stands at 47%, up from 31% in June 2020. That includes 21% who say funding for their local police should be increased a lot, up from 11% who said this last summer.
  • Support for reducing spending on police has fallen significantly: 15% of adults now say spending should be decreased, down from 25% in 2020. And only 6% now advocate decreasing spending a lot, down from 12% who said this last year.
  • White (49%) and Hispanic (46%) adults are more likely than Black (38%) or Asian (37%) adults to say spending on police in their area should be increased.
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  • Black adults (23%) are more likely to say that police funding should be decreased than those who are White (13%) or Hispanic (16%). Some 22% of Asian adults say spending should be reduced, which is statistically higher than the share among White adults but not higher than the share among Hispanic adults.
  • Majorities among those ages 50 and older favor increased spending on police, including 63% of those 65 and older
  • Similarly, the share of Democrats who say funding for local police should be decreased has fallen markedly – from 41% in 2020 to 25% today.
  • A majority of Republicans and independents who lean to the Republican Party (61%) say spending on police should be increased, with 29% saying it should be increased a lot; 5% of Republicans say spending should be decreased, and 33% say it should stay about the same.
  • By contrast, 34% of Democrats and Democratic leaners say police funding should be increased, 25% say it should be decreased and 40% would like to see it stay about the same.
  • Roughly a third (32%) of those ages 18 to 29 say there should be less spending on police in their area.
  • The share of Black adults who say police spending in their area should be decreased has fallen 19 percentage points since last year (from 42% to 23%), including a 13-point decline in the share who say funding should be decreased a lot (from 22% to 9%).
  • Among Democrats, Black (38%) and Hispanic (39%) adults are more likely than White adults (32%) to say spending on police in their area should be increased.
  • White and Hispanic adults differ in their views on this question: 64% of White Republicans say police spending in their area should be increased, compared with 53% of Hispanic Republicans.
  • The share of adults in this age group who say police spending should be increased has jumped 22 percentage points since 2020 (from 37% to 59%),
  • among those younger than 50 (from 26% to 36%).
  • In July 2021, 61% of adults said violent crime was a very big problem in the country today,
  • up from 48% in April 2021 and 41% in June 2020
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Russia freezes missile transfers - Israel News, Ynetnews - 0 views

  • Despite not being able to pay the Russians for complete S-300 Surface to Air Missile systems, Iran still manages to find the money to fund groups committed to Israel's destruction.
  • Moscow has already transferred three S-300 missile batteries to the Iranians, but have yet to send over the other two
  • It provides approximately half of the terror group's funding, which amounts to approximately one billion dollars a year.
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  • Despite Iranian budgetary woes, the Islamic Republic has somehow managed to find the funding to up the financial assistance it provides to its Lebanese puppet organization, Hezbollah.
  • the Iranian regime also funds the Palestinian Islamic Jihad (PIJ) terrorist organization which operates out of Gaza.
  • the Iranians are supposed to give the Palestinian terror group $70 million – supposedly enough money to enable the terror group to get stronger and effectively oppose Hamas.
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    Russia and Iran working together
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Only $20m in existing funds found to pay for Mexico wall, document says - 0 views

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    Donald Trump's promise to use existing funds to begin immediate construction of a wall on the US-Mexico border has hit a financial roadblock, according to a document seen by Reuters. The rapid start of construction, promised throughout Trump's campaign and in an executive order issued in January on border security, was to be financed, according to the White House, with "existing funds and resources" of the Department of Homeland Security.
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Charlie Baker promises state funding to offset any US cuts to Planned Parenthood - The ... - 0 views

  • Governor Charlie Baker is pledging to boost state funding for Planned Parenthood clinics in Massachusetts if his fellow Republicans in Washington push ahead with a plan to slash the flow of federal dollars to the organization.
  • “The administration is prepared to fund these services should the federal government pursue changes that would block care for women and families here in Massachusetts,” she said.
  • “We certainly object to giving the money to Planned Parenthood when there are hundreds of other facilities that do health care services,” Beckwith said.
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Donald Trump Highlights Support for School Choice in Orlando Trip - WSJ - 0 views

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    "President Donald Trump visited a Catholic school here on Friday, highlighting his administration's plans to increase federal support for government-funded vouchers that can be used to fund students' attendance at private and parochial schools."
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Now That's Rich - NYTimes.com - 0 views

  • let’s think about what it means that these 25 men (yes, they’re all men) made a combined $21 billion in 2013
  • ignore the rhetoric about “job creators” and all that. Conservatives want you to believe that the big rewards in modern America go to innovators and entrepreneurs, people who build businesses and push technology forward. But that’s not what those hedge fund managers do for a living; they’re in the business of financial speculation, which John Maynard Keynes characterized as “anticipating what average opinion expects the average opinion to be.” Or since they make much of their income from fees, they’re actually in the business of convincing other people that they can anticipate average opinion about average opinion.
  • at this point, the evidence suggests that hedge funds are a bad deal for everyone except their managers; they don’t deliver high enough returns to justify those huge fees, and they’re a major source of economic instability
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  • a close look at the rich list supports the thesis made famous by Thomas Piketty in his book “Capital in the Twenty-First Century” — namely, that we’re on our way toward a society dominated by wealth, much of it inherited, rather than work.
  • these days a lot of top money managers’ income comes not from investing other people’s money but from returns on their own accumulated wealth
  • Over time, extreme inequality in income leads to extreme inequality of wealth; indeed, the wealth share of America’s top 0.1 percent is back at Gilded Age levels. This, in turn, means that high incomes increasingly come from investment income, not salaries. And it’s only a matter of time before inheritance becomes the biggest source of great wealth.
  • why does all of this matter? Basically, it’s about taxes.America has a long tradition of imposing high taxes on big incomes and large fortunes, designed to limit the concentration of economic power as well as raising revenue. These days, however, suggestions that we revive that tradition face angry claims that taxing the rich is destructive and immoral
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Greek Patience With Austerity Nears Its Limit - NYTimes.com - 0 views

  • In 2010, with Greece crippled by debt and threatening the survival of the euro, the European Union, the International Monetary Fund and the European Central Bank began imposing German-inspired austerity on the country. The aim was to slash the budget deficit and address fundamental problems like corruption and a failure to collect taxes. Such policies, they promised, would get Greece back on its feet, able to borrow again on financial markets.
  • Greeks grudgingly went along, assured that painful reform would return the country to growth by 2012. Instead, Greece lost 400,000 jobs that year and continued on a decline that would see a drop in the gross domestic product since 2008 not much different from the one experienced during the first five years of the United States’ Great Depression.
  • Greece’s unemployment rate was supposed to top out at 15 percent in 2012, according to International Monetary Fund calculations. But it roared to 25 percent that year, reached 27 percent in 2013 and has ticked downward only slightly since.
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  • at the street level in Greece, there is little debate anymore, if there ever was. The images of suffering here have not been that different from the grainy black and white photos of the United States in the 1930s. Suicides have shot up. Cars sit abandoned in the streets. People sift garbage looking for food.
  • But the failures have been striking, leaving millions of Greeks baffled and angry as their lives disintegrated while the elite often escaped, untaxed and unbothered,
  • “The mix was not right,” Mr. Liargovas said of the austerity measures. “It was a cure that has almost killed the patient.”
  • Now, Greece is no longer spending far more than it receives, when debt payments are excluded, its officials say. It has remained in the European Union, and can again borrow in the bond markets, t
  • Even if more recent optimistic projections are to be believed, and a steady rate of growth can be expected, it would take Greece perhaps 15 years to regain the jobs it has lost,
  • In a wide-ranging review of the Greece program last year, the I.M.F. found that many of its predictions had failed. There was a sharp fall in imports, but little gain in exports. Public debt overshot original predictions. Predicted revenues from selling public assets were way off. The banking system, perceived as relatively sound at the beginning of the bailout, began having problems as the economy soured.
  • the I.M.F. concluded that many errors had been made, including too much emphasis on raising taxes instead of cutting expenses. In addition, the monetary fund overestimated the ability of the government to deliver the changes it was demanding — because they were proving politically unpopular and because Greek institutions were far weaker that anyone understood.
  • Administering these changes would have been difficult in a country with sound institutions, but Greece’s were filled with poorly qualified political appointees and were undergoing hiring freezes and budget cuts even as they were supposed to be managing a huge overhaul: a large assortment of new taxes, the opening of closed professions and the sale of state-owned assets.
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Obama seeks funds to fight Zika; sees no cause for panic | Reuters - 0 views

  • President Barack Obama will ask the U.S. Congress for more than $1.8 billion in emergency funds to fight Zika at home and abroad and pursue a vaccine, the White House said on Monday, but he added there is no reason to panic over the mosquito-borne virus.
  • Zika, spreading rapidly in South and Central America and the Caribbean, has been linked to severe birth defects in Brazil, and public health officials' concern is focused on pregnant women and women who may become pregnant.
  • Obama's request to Congress includes $200 million for research, development and commercialization of new vaccines and diagnostic tests for the virus.
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  • At least 12 groups are working to develop a vaccine.
  • European Medicines Agency (EMA), Europe's drugs regulator, said it established an expert task force to advise companies working on Zika vaccines and medicines, mirroring similar action during the two-year-long Ebola epidemic that started in December 2013 and the pandemic flu outbreak in 2009.
  • There are no vaccines or treatment for Zika and none even undergoing clinical studies. Most infected people either have no symptoms or develop mild ones like fever and skin rashes.
  • "The good news is this is not like Ebola; people don't die of Zika. A lot of people get it and don't even know that they have it," Obama told CBS News
  • Most of the money sought by Obama, who faces pressure from Republicans and some fellow Democrats to act decisively on Zika, would be spent in the United States on testing, surveillance and response in affected areas, including the creation of rapid-response teams to contain outbreak clusters.
  • Dr. Anne Schuchat, principal deputy director of the U.S. Centers for Disease Control and Prevention, said she was not expecting "large-scale amounts of serious Zika infections" in the continental United States as warmer months bring larger and more active mosquito populations.
  • Obama's funding request to Congress includes $335 million for the U.S. Agency for International Development to support mosquito-control, maternal health and other Zika-related public health efforts in affected countries in the Americas.
  • Fauci said he anticipated beginning a so-called Phase 1 trial this summer for a Zika vaccine that would take about three months to test if it is safe and induces a good immune response before further studies can be conducted.
  • The CDC said its Zika emergency operations center, with a staff of 300, has been placed on its highest level of activation, reflecting a need for accelerated preparedness for possible local virus transmission by mosquitoes in the continental United States.
  • Much remains unknown about Zika, including whether the virus actually causes microcephaly, a condition marked by abnormally small head size that can result in developmental problems.Brazil is investigating the potential link between Zika infections and more than 4,000 suspected cases of microcephaly. Researchers have identified evidence of Zika infection in 17 of these cases, either in the baby or in the mother, but have not confirmed that Zika can cause microcephaly. 
  • Word that Zika can be spread by sexual transmission and blood transfusions and its discovery in saliva and urine of infected people have added to concern over the virus.
  • The World Health Organization declared the outbreak an international health emergency on Feb. 1, citing a "strongly suspected" relationship between Zika infection in pregnancy to microcephaly.
  • Brazil is grappling with the virus even as it prepares to host the Olympic Games in Rio de Janeiro in August, with tens of thousands of athletes and tourists anticipated.The U.S. Olympic Committee has told U.S. sports federations that athletes and staff concerned about their health due to Zika should consider not going to the Olympics.
  • Former Olympian Donald Anthony, president and board chairman of USA Fencing, said, "One of the things that they immediately said was, especially for women that may be pregnant or even thinking of getting pregnant, that whether you are scheduled to go to Rio or no, that you shouldn't go."
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