Economy

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

Published

3 years ago

October 9, 2020

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.

China

Louisiana to vote on bill which would block ‘foreign adversaries’ from land purchases

Published

1 week ago

May 22, 2023

Sara Carter Staff

Beginning Aug. 1, Louisiana House Bill 537 would prohibit any person connected with a foreign adversary from purchasing, leasing or otherwise acquiring immovable property in the state. “It would allow the attorney general to bring action for injunctive relief on behalf of the state to block sales, investigate transactions, and petition the court to take action” reports Just The News.

According to a 2020 U.S. Department of Agriculture (USDA) report, Louisiana has the most foreign landowners overall at 5.89 percent. The bill is sponsored by Rep. Valarie Hodges, R-Denham Springs, and passed the House Committee on Civil Law and Procedure with a vote of 11-1, “sending the measure to the House floor for a scheduled vote on Tuesday.”

“This bill is seeking to protect state sovereignty,” Hodges told the committee, stressing it would apply to “corporations who are seeking to control essential assets, not local residents with lawful status who want to contribute to Louisiana business, culture and community.”

Hodges referenced data from the U.S. Department of Agriculture that found “China’s ownership of U.S. farmland grew 20-fold in the last decade, from 81 million to 1.8 billion worth of holdings in 2020.” Additionally, Louisiana’s important industries — from chemical manufacturers to ports to liquid gas terminals to military bases — “could be targeted by adversaries”.

“I did try to address every concern that I heard with these amendments, because it is not targeted towards an individual,” Hodges said, referring to amended changes in the bill to specify the law would not apply to American citizens, legal permanent residents, or single family residences. The bill ties the definition of foreign adversaries to a federal list that currently includes the People’s Republic of China, the Republic of Cuba, the Islamic Republic of Iran, the Democratic People’s Republic of Korea, the Russian Federation, and Venezuela.