President Trump on Tuesday said a historic investment in infrastructure and jobs should be part of a fourth congressional coronavirus relief package, citing an opportunity with the current Fed rate of near zero.
“With interest rates for the United States being at ZERO, this is the time to do our decades long awaited Infrastructure Bill. It should be VERY BIG & BOLD, Two Trillion Dollars, and be focused solely on jobs and rebuilding the once great infrastructure of our Country! Phase 4”, the President tweeted.
With interest rates for the United States being at ZERO, this is the time to do our decades long awaited Infrastructure Bill. It should be VERY BIG & BOLD, Two Trillion Dollars, and be focused solely on jobs and rebuilding the once great infrastructure of our Country! Phase 4
— Donald J. Trump (@realDonaldTrump) March 31, 2020
The idea of a trillion dollar infrastructure deal is one of the earliest ideas that Trump campaign on back in 2016. In his 2018 State of the Union address the President called on the Congress to set aside $1.5 trillion for an infrastructure plan.
According to reports by the American Society of Civil Engineers more than $2 trillion in additional funding is needed for American infrastructure by 2025 alone. The World Economic Forum this year ranked the U.S. 13th in matters of infrastructure, according to its global competitiveness report. Nations listed higher included Singapore, Hong Kong, Switzerland, Japan, Korea, UAE, the Netherlands, and Spain.
House Speaker Nancy Pelosi, who is normally at odds with President Trump, said in an interview on Tuesday that broadband investments and water projects are examples of infrastructure that would be relevant to a fourth conornavirus response.
Although Trump’s plan has been met in the past with opposition from both members of the Republican Party and members of the Congress, the current situation of the American economy paired with the recent hostile takeover of part of the Fed Bank by the U.S. Treasury makes a favorable environment for such a bold investment.
SCOTUS Hands Trump Administration Huge Pro-Life Win
The US Supreme Court on Wednesday endorsed a plan by President Donald Trump’s administration to give employers broad religious and moral exemptions from a federal mandate that health insurance they provide employees covers women’s birth control under the Affordable Care Act.
The court ruled 7-2 against the states of Pennsylvania and New Jersey, which challenged the legality of the Trump administration’s 2018 rule that weakening the so-called “contraceptive mandate” of the 2010 Affordable Care Act, commonly called “Obamacare”.
The opinion was written by Justice Clarence Thomas, joined by Chief Justice John Roberts, Samuel Alito, Neil Gorsuch, and Brett Kavanaugh. Elena Kagan filed a concurring opinion in the judgment, in which Stephen Breyer joined. Ruth Bader Ginsburg filed a dissenting opinion, in which Sonia Sotomayor joined.
“We hold today that the Departments had the statutory authority to craft that exemption, as well as the contemporaneously issued moral exemption. We further hold that the rules promulgating these exemptions are free from procedural defects,” Justice Clarence Thomas wrote. “We hold that the Departments had the authority to provide exemptions from the regulatory contraceptive requirements for employers with religious and conscientious objections. We accordingly reverse the Third Circuit’s judgment and remand with instructions to dissolve the nationwide preliminary injunction.”
The two consolidated cases that the SCOTUS heard were Little Sisters of the Poor v Pennsylvania and Donald J Trump v Pennsylvania.
This is a developing story. Please check back for updates.
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