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Watchdog says Washington’s growing swampier, even as coronavirus lockdowns let Congress climb off ‘hamster wheel of fundraising’

As the coronavirus crisis and nationwide protests shake up Washington, Issue One’s Meredith McGehee speaks with MarketWatch about the November elections, the government’s massive aid spending, racial inequalities and more.

by Victor Reklaitis
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Clayton says he’s ‘fully committed’ to SEC, sees ‘no need’ to focus on nomination to be top Manhattan prosecutor

Securities and Exchange Commission Chairman Jay Clayton testifies Thursday before a sub-panel of the Democratic-run House Financial Services Committee.

by Victor Reklaitis
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U.S. to hit Japan-like levels of government debt by 2050, budget group says

The level of U.S. government red ink is set to explode to more than twice the size of the entire economy in three decades, according to a prominent anti-deficit group.

by Jonathan Nicholson
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SEC’s regulatory work could be hamstrung by leadership change with Clayton set to exit, analyst says

The Securities and Exchange Commission is likely to be hampered by the Trump administration’s move to nominate SEC Chairman Jay Clayton for U.S. attorney for the Southern District of New York, according to one analyst.

by Victor Reklaitis
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Ocasio-Cortez thanks ‘TikTok teens’ she says ‘tricked’ Trump campaign

Donald Trump’s big campaign rally in Tulsa wasn’t quite as big as promised, with the man leading the president’s re-election efforts blaming the no-shows. But there was apparently something else at work.

by Shawn Langlois
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Trump asked China’s Xi to buy U.S. farm products to help him win re-election, Bolton book says

President Donald Trump asked Chinese President Xi Jinping to buy U.S. farm products in order to help him win agricultural states in the November election, according to a new book by former national security adviser John Bo...

by Robert Schroeder
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Key Republican senator promises release of some PPP details

Republican Sen. Marco Rubio of Florida is promising that there will be disclosure of the bigger companies that received Paycheck Protection Program loans, following widespread calls for more information on borrowers.

by Victor Reklaitis
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Alphabet, Amazon and Facebook willing to have their CEOs testify before House panel, while Apple doesn’t commit

In the wake of news that Amazon’s Jeff Bezos is willing to testify before the House Judiciary Committee, which is conducting an antitrust investigation aimed at Big Tech, multiple published reports say Facebook’s Mark Zuck...

by Victor Reklaitis
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Washington, D.C., statehood bill set for vote in House of Representatives

House Democratic leaders say they’ll take the first step toward making the District of Columbia the 51st state next week, with a June 26 vote in the House of Representatives.

by Jonathan Nicholson
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It’s ‘unrealistic’ for investors to bet on Trump administration’s $1 trillion infrastructure plan, analyst says

While the Trump administration is reportedly preparing a nearly $1 trillion infrastructure plan, analysts have doubts about whether that type of package could become a reality in divided Washington.

by Victor Reklaitis
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Here’s Washington’s new fight over the small-business coronavirus bailout: what to do with leftover cash

Congress just found more than $100 billion in extra cash in its Paycheck Protection Program and one Republican senator already has an idea how to spend it: fix up businesses damaged by the riots sparked by the killing of G...

by Jonathan Nicholson
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Mnuchin says Trump administration will ‘seriously look’ at sending out more stimulus checks

Treasury Secretary Steven Mnuchin signals the Trump administration could be open to providing another round of stimulus checks to Americans, as he speaks at a Senate hearing about what may go in Washington’s next coronavir...

by Victor Reklaitis
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House could act on bill to revamp policing in next few weeks, senior Democrat says

A comprehensive bill by Democrats to overhaul police practices in wake of the death of George Floyd could be approved by the House of Representatives as early as the middle of this month, according to a senior Democrat.

by Jonathan Nicholson
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Revisiting that funky drop in unemployment to 13.3% in May: Nobody really believes it

Nobody believes the unemployment rate in the U.S. fell to 13.3% in May and reflects the true state of the labor market, not even the government beancounters who came up with the number.

by Jeffry Bartash
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Surprising May jobs report hinders push for another big aid package, analysts say

The better-than-expected U.S. jobs report for May likely will hamper the push for another big coronavirus relief package, but Washington probably still will deliver an additional aid measure in July, analysts say.

by Victor Reklaitis
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Republicans and Democrats agree: America is out of control

We can’t seem to agree on much of anything these days, but a new has apparently found some common ground:

by Shawn Langlois
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Black Americans, their lives and livelihoods on the line, suffer most from the pandemic

The coronavirus has cost millions of Americans their jobs, but the pandemic has been particularly painful and deadly for African-Americans.

by Jeffry Bartash
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Trump signs bill changing Paycheck Protection Program into law

President Donald Trump on Friday signs into law a bill easing conditions for small businesses tapping the government’s Paycheck Protection Program, with his OK coming after the measure scored broad support from lawmakers.

by Jonathan Nicholson
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Trump’s protest response undermines U.S. fight against China’s Hong Kong crackdown, Democrats say

The Senate Banking Committee held a hearing Thursday on potential U.S. sanctions against Hong Kong for China’s recent approval of legislation that could undermine democratic freedoms in the region, but Democrats and expert...

by Chris Matthews
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Congressional Democrats putting finishing touches on police-reform legislation

House Democrats are close to unveiling legislation to reform policing standards, Speaker of the House Nancy Pelosi said Thursday.

by Jonathan Nicholson