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Trump rubber-stamps revised COVID-19 stimulus package, reopening talks: Larry Kudlow

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After postponing negotiations on Tuesday for a second COVID-19 economic stimulus package until after the election, President Donald Trump has decided to reopen them, proposing a new $1.8 trillion plan, the Wall Street Journal reports exclusively.

Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi (D-Calif.) are expected to deliberate on the White House’s new proposal at their Friday meeting, according to the Journal‘s piece.

The first stimulus package was passed back in the spring and talks surrounding a second one have been stalled for months over the price tag and key policy differences.

Last week, House Democrats passed a slimmed-down $2.2 trillion version of their own proposal last week. President Trump and Senate Republicans, however, rejected it predominantly for its cost, for protecting undocumented workers who meet specific criteria from deportation, and—according to the president—for supposedly bailing out “poorly run, high crime, Democrat States.”

Furthermore, President Trump on Friday confirmed the revived negotiations in a tweet, saying, “Covid Relief Negotiations are moving along. Go Big!”

https://twitter.com/realDonaldTrump/status/1314593632733847552

And his economic advisor, Larry Kudlow, also told Fox Business‘ Stuart Varney on Friday that the president “would like to do a deal” and has rubber-stamped a new coronavirus economic relief package to aid millions of American workers who remain unemployed.

Although the economy has been sluggishly rebounding since March, 12.6 million Americans remain unemployed, according to the U.S. Department of Labor and Bureau of Labor Statistics. This bounce-back followed the initial layoffs and furloughs at the start of the pandemic while, on the public health front, the U.S. death toll continues to surpass 210,000.

You can follow Douglas Braff on Twitter @Douglas_P_Braff.

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Chevron downsizes global San Fran headquarters, paying for employees to move to Texas office

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Oil giant Chevron made a huge announcement saying it will be closing its current global headquarters in San Ramon, California. Even more telling, its encouraging employees to move to Houston, Texas.

The San Francisco Gate reported “the oil company will cover relocation costs for those voluntarily leaving for the Texas office, which has been growing and employs nearly 6,000 people. Meanwhile, the San Ramon office buildings have experienced dwindling numbers in recent years.”

Although the company is not leaving the state completely, “company leadership has pushed for a permanent move to Texas in the past” adds SFGATE. Chevron, which has had “deep roots” in California going back to the late 1800s, will vacate its 100-acre campus in 2023.

The Wall Street Journal reports the business hopes to move into a smaller space in San Ramon, which will remain its headquarters. A company spokesperson told SFGATE “the current real estate market provides the opportunity to right-size our office space to meet the requirements of our headquarters-based employee population.”

“The move is expected to occur during the third quarter of 2023” they continued. “Chevron will remain headquartered in California, where the company has a 140-year history and operations and partnerships throughout the state.”

The SFGATE notes Chevron is one of “the East Bay’s legacy companies joining the trend” to move their headquarters out of the area in recent years. Tech companies such as startups like Coinbase to industry pioneers like Hewlett Packard and Oracle have all vacated, with Elon Musk having been “one particularly outspoken voice decrying California’s business conditions.”

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