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Jan. 25, 2021 07:32PM EST
Donald Trump's political team disavows "Patriot Party" groups
Donald Trump's still-active presidential campaign committee officially disavowed political groups affiliated with the nascent "Patriot Party" on Monday.
Why it matters: Trump briefly floated the possibility of creating a new political party to compete with the GOP — with him at the helm. But others have formed their own "Patriot Party" entities during the past week, and Trump's team wants to make clear it has nothing to do with them.
<p><strong>What's happening</strong>: Donald J. Trump for President Inc., the former president's official campaign committee, <a href="https://docquery.fec.gov/pdf/667/202101259413340667/202101259413340667.pdf" target="_blank">filed a notice</a> with the Federal Election Commission officially distancing itself from a new PAC called Patriot Party.</p><ul class="ee-ul"><li>"DJTFP is placing this disavowal notice on the public record out of concern for confusion among the public, which may be misled to believe that Patriot Party's activities have been authorized by Mr. Trump or DJTFP — or that contributions to this unauthorized committee are being made to DJTFP — when that is not true," the committee wrote.</li></ul><p><strong>What we're hearing: </strong>In a statement to Axios prior to Monday's filing, Trump spokesman Jason Miller said his team has nothing to do with that group or any similar effort.</p><ul class="ee-ul"><li>“We are not supportive of this effort, have nothing to do with it and only know about it through public reporting," Miller said in a text message.</li></ul><p><strong>Trump briefly floated the possibility</strong> of creating — and leading — an alternative political party to compete with the GOP.</p><ul class="ee-ul"><li>While he quickly dropped the idea, a host of groups have sprung up late promoting the "Patriot Party" brand.</li></ul><p><strong>The Patriot Party group</strong> the Trump campaign disavowed was just one of a handful to file paperwork with the FEC in recent days.</p><ul class="ee-ul"><li>It falsely stated in FEC paperwork that it had a joint fundraising agreement with the Trump campaign committee.</li><li>Another group formed on Monday, the MAGA Patriot Party National Committee, also claimed, falsely, to have a similar agreement.</li></ul></div>
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Jan. 25, 2021 05:35PM EST
DOJ watchdog to probe whether officials sought to improperly alter election results
The Justice Department's inspector general will investigate whether any current or formal DOJ officials "engaged in improper attempt to have DOJ seek to alter the outcome," the agency announced Monday.
Driving the news: The investigation comes in the wake of a New York Times report that alleged that Jeffrey Clark, the head of DOJ's civil division, had plotted with President Trump to oust acting Attorney General Jeffery Rosen in a scheme to overturn the election results in Georgia.
<p><strong>Details: </strong>Rosen reportedly refused requests by Trump to have DOJ file briefs in support of his allies' legal challenges and to appoint special counsels to investigate baseless claims of voter fraud.</p><ul class="ee-ul"><li>The Times reports that Rosen was informed that the president intended to replace him with Clark, who was echoing Trump's claims of voter fraud and calling for DOJ to open an investigation.</li><li>The plan was reportedly called off after interventions from DOJ and White House lawyers.</li><li>Clark denied to the Times that he devised any plan to oust Rosen or did anything improper.</li></ul><p><strong>The big picture: </strong>The Trump campaign attempted to contest Biden's win for weeks after the election was called, ultimately losing dozens of lawsuits largely based on debunked conspiracy theories about widespread voter fraud, </p><ul class="ee-ul"><li>In early January, Trump pressured Georgia's Republican secretary of state to "find 11,780 votes" — enough to overturn Joe Biden's win in the state — in an hourlong phone call <a href="https://www.washingtonpost.com/politics/trump-raffensperger-call-georgia-vote/2021/01/03/d45acb92-4dc4-11eb-bda4-615aaefd0555_story.html" target="_blank">obtained by the Washington Post</a>.</li></ul></div>
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Jan. 25, 2021 04:08PM EST
Biden signs order overturning Trump's transgender military ban
President Biden signed an executive order on Monday overturning the Trump administration's ban on transgender Americans serving in the military.
Why it matters: The ban, which allowed the military to bar openly transgender recruits and discharge people for not living as their sex assigned at birth, affected up to 15,000 service members, according to tallies from the National Center for Transgender Equality and Transgender American Veterans Association.
<ul class="ee-ul"><li>A 2016 RAND Corporation study <a href="https://www.rand.org/pubs/research_reports/RR1530.html" target="_blank">estimated</a> that the number of active-duty transgender troops could range from 2,000 to 11,000, but stressed that the true number could vary based on self-reporting.</li><li>"Allowing all qualified Americans to serve their country in uniform is better for the military and better for the country because an inclusive force is a more effective force," the White House said in a fact sheet. "Simply put, it’s the right thing to do and is in our national interest."</li></ul><p><strong>Where it stands: </strong>Biden ordered military records to be correctedif service members were discharged, denied reenlistment, or continued service due to their gender identity.</p><p><strong>Background: </strong>After a decades-long ban, trans people were first able to <a href="https://www.axios.com/everything-you-need-to-know-transgender-military-ban-473b2b94-7dcd-431a-b5cb-3bbc095877da.html" target="_blank">serve openly again in the armed forces</a> in June 2016, under President Obama. </p><ul class="ee-ul"><li>Multiple legal battles ensued after President Trump first <a href="https://www.axios.com/trump-will-ban-transgender-people-from-us-military-1513304453-996634ac-c071-4b24-922b-676f4de7f562.html" target="_blank">tweeted</a> in July 2017 that transgender people would not be allowed "to serve in any capacity in the U.S. Military," citing medical costs and "disruption."</li><li>The Supreme Court let the ban <a href="https://www.axios.com/supreme-court-trump-transgender-military-ban-648ec861-4623-4784-a373-db5af1363a7b.html" target="_self">proceed</a> in a 5-4 vote in January 2019, after two federal judges had <a href="https://www.axios.com/everything-you-need-to-know-transgender-military-ban-473b2b94-7dcd-431a-b5cb-3bbc095877da.html" target="_blank">temporarily blocked it</a> following a lawsuit from the ACLU.</li></ul><p><strong>What they're saying: </strong>LGBTQ and legal advocates praised the policy reversal, which comes after <a href="https://www.axios.com/2020-democratic-debate-transgender-rights-booker-castro-3e964ae7-230f-4d2f-ac76-22d48fa62f22.html" target="_blank">Democrats in the 2020 race</a> held one of the most prominent political discussions of trans rights to date. </p><ul class="ee-ul"><li>But advocates are also looking for the administration to do more for LGBTQ rights after the Trump administration <a href="https://www.axios.com/trump-targets-lgbtq-protections-b8713231-aa72-4f26-a598-24a18000457d.html" target="_self">worked to undo</a> major gains secured under President Obama.</li><li>One of Biden's "day one" executive orders bolstered <a href="https://www.axios.com/supreme-court-gay-transgender-workers-title-vii-20ca6b21-a662-4111-bebd-9be2c4dbd6ea.html" target="_blank">last year's Supreme Court ruling</a> that LGBTQ employees cannot be fired based on gender identity or sexual orientation, and <a href="https://www.whitehouse.gov/briefing-room/presidential-actions/2021/01/20/executive-order-preventing-and-combating-discrimination-on-basis-of-gender-identity-or-sexual-orientation/" target="_blank">charged federal agencies with changing old policies</a> if they allow for such discrimination. </li></ul><p><strong>"Repealing the military ban sends a powerful message</strong> that transgender people belong in our country," ACLU senior legislative representative Ian Thompson said in an emailed statement.</p><ul class="ee-ul"><li>The ACLU hopes that Biden's reversal of the ban "is the first of many essential steps to not only rollback the many discriminatory policies from the Trump administration but go farther than any previous administration in fully recognizing transgender and non-binary people," Thompson said. </li><li>Gillian Branstetter, a spokeswoman for the National Women’s Law Center, said she is optimistic that the Biden administration will keep LGBTQ rights a priority while juggling the pandemic and other crises — partially due to key nominations like Vanita Gupta as associate attorney general and Xavier Becerra as Health and Human Services secretary.</li></ul></div>
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Jan. 25, 2021 03:39PM EST
GOP Sen. Rob Portman will not run for re-election, citing "partisan gridlock"
Sen. Rob Portman (R-Ohio) announced Monday he will not run for a third term in the U.S. Senate in 2022, citing "partisan gridlock."
Why it matters: It's a surprise retirement from a prominent Senate Republican who easily won re-election in 2016 and was expected to do so again in 2022.
<p><strong>What they're saying: "</strong>I don’t think any Senate office has been more successful in getting things done, but honestly, it has gotten harder and harder to break through the partisan gridlock and make progress on substantive policy, and that has contributed to my decision," Portman said in a statement.</p><ul class="ee-ul"><li>“We live in an increasingly polarized country where members of both parties are being pushed further to the right and further to the left, and that means too few people who are actively looking to find common ground."</li><li>"This is not a new phenomenon, of course, but a problem that has gotten worse over the past few decades."</li></ul><p><em>This story is breaking news. Please check back for updates.</em></p></div>
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Jan. 25, 2021 03:23PM EST
Merger Monday has been overrun by SPACs
Five companies this morning announced plans to go public via reverse mergers with SPACs, at an aggregate market value of more than $15 billion. And there might be even more by the time you read this.
The bottom line: SPAC merger activity hasn't peaked. If anything, it's just getting started.
<p><strong>Driving the news:</strong></p><ul class="ee-ul"><li><strong>Alight</strong>, a Blackstone Group-backed benefits services provider, <a href="https://www.reuters.com/article/us-alight-m-a-foley-trasimene/foley-backed-spac-agrees-to-7-3-billion-deal-with-blackstones-alight-idUSKBN29U1CT" target="_blank">for $7.3 billion</a> by a Bill Foley-led SPAC.</li><li><strong>The Hillman Group</strong>, a home improvement hardware maker owned by CCMP Capital, <a href="https://www.reuters.com/article/us-hillman-group-m-a-landcadia-holdin/fertitta-backed-blank-check-firm-to-take-hillman-public-in-2-64-billion-deal-idUSKBN29U1B1" target="_blank">for $2.6 billion</a> to a SPAC led by Tilman Fertitta and Rich Handler.</li><li><strong>Taboola</strong>, a VC-backed content recommendation company, <a href="https://www.axios.com/taboola-public-spac-28deba29-9e85-415e-a174-2a0c4dddb71f.html" target="_blank">for $2.6 billion</a> by a Gilad Shany-led SPAC.</li><li><strong>Latch</strong>, a VC-backed smart lock startup, <a href="https://www.wsj.com/articles/smart-lock-maker-latch-to-use-tishman-speyer-spac-to-go-public-11611568803" target="_blank">for $1.56 billion</a> by a SPAC formed by Tishman Speyer Properties.</li><li><strong>Sunlight Financial</strong>, a private equity-backed residential solar financing platform, <a href="https://finance.yahoo.com/news/sunlight-financial-llc-premier-residential-120000650.html" target="_blank">for $1.3 billion</a> by a SPAC formed by Apollo Global Management.</li></ul><p><strong>Coming attractions:</strong> More SPAC merger announcements are anticipated shortly, including deals in the EV, ed-tech and aerospace sectors.</p><p><strong>What's happening: </strong>A lot of this can just be chalked up to supply and demand, the predictable consequence of surging private funding flows and a record amount of new SPAC issuance. </p><ul class="ee-ul"><li>I'm also hearing an argument that private market investors, and their portfolio companies, are increasingly worried about a valuation bubble. SPACs provide a quicker route to listing than do traditional IPOs, thus lowering the risk of finding themselves on the wrong side of a pop or deflation.</li><li>The counterargument is that SPACs aren't quite as fast as they're sometimes made out to be. In the case of Alight, for example, a source tells me that Blackstone began talking to Bill Foley last August, with serious negotiations beginning a couple of months ago. Today's announced deal does have committed PIPE financing, but still requires a SPAC shareholder vote and isn't slated to close until sometime in Q2. </li></ul></div>
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Jan. 25, 2021 02:08PM EST
Moderna says vaccine appears to protect against new COVID-19 variants
Moderna's COVID-19 vaccine is effective against new variants of the virus that first appeared in the U.K. and in South Africa, the company announced on Monday.
Yes, but: The vaccine was as effective against the strain from U.K., but saw a six-fold reduction in antibodies against the South Africa variant. Even still, the neutralizing antibodies generated by the vaccine "remain above levels that are expected to be protective," according to the company.
<p><strong>What to watch: </strong>Moderna now says it is developing an additional booster dose against the South Africa strain, and another booster to fight other emerging strains. The results of Moderna's tests have not yet been peer-reviewed.</p></div>
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Jan. 25, 2021 01:42PM EST
Xi Jinping warns against "new cold war" in Davos speech
Chinese President Xi Jinping warned that a "new cold war" could turn hot, and must be avoided, in a speech on Monday to at World Economic Forum’s virtual “Davos Agenda” conference.
Why it matters: Xi didn't refer directly to U.S.-China tensions, but the subtext was clear. These were his first remarks to an international audience since the inauguration of President Biden, whose administration has already concurred with Donald Trump's determination that China is committing "genocide" against Uyghur Muslims, and issued a warning about China's aggression toward Taiwan.
<p><strong>What he's saying:</strong></p><div>“We should respect and accommodate differences, avoid meddling in other countries’ internal affairs and resolve disagreements through consultation and dialogue. History and reality have made it clear time and again that the misguided approach of antagonism and confrontation — be it in the form of a cold war, hot war, trade war or tech war — will eventually hurt all countries’ interest and undermine everyone’s well-being.”</div><div>Xi Jinping</div><p><strong>Xi also laid out a four-step approach</strong> to ensuring the world emerges stronger from the COVID-19 crisis.</p><ul class="ee-ul"><li>It includes "macroeconomic policy coordination," the avoidance of "arrogance, prejudice and hatred" in favor of "peaceful coexistence," the reduction of global inequality, and the strengthening of global institutions on issues like public health and climate change.</li><li>Throughout the speech, Xi repeatedly returned to the importance of international cooperation on nearly every issue — except on those, like human rights, that he deems "internal affairs."</li></ul><p><strong>Between the lines:</strong> Xi’s speech extolling the virtues of multilateralism would have come across differently just a few months earlier, before Biden’s victory. </p><ul class="ee-ul"><li>Unlike Donald Trump, Biden also speaks frequently about the need for international cooperation, including on issues cited by Xi like the pandemic and global development. </li><li>But Biden also emphasizes the need for Western democracies to work together to confront China — posing a new challenge for Beijing.</li><li>In his speech, Xi stressed that multilateralism must include everyone, not devolve into “small circles.” In Biden's view, it's based on alliances.</li></ul><p><strong>What to watch: </strong>Xi specifically opposed the ideas of imposing sanctions or seeking to "create isolation." He also warned that the pandemic should not be allowed to accelerate "decoupling" or the re-routing of supply chains. Those tools are all being heavily debated in Washington when it comes to China.</p><p><strong>One key quote: </strong>“We should advocate fair competition by competing with each other on a racing field, not beating each other on a wrestling arena.”</p><p><strong>Go deeper:</strong> <a href="https://www.axios.com/trump-china-policy-special-report-154fa5c2-469d-4238-8d72-f0641abc0dfa.html" target="_blank">Trump's U.S.-China transformation</a>.</p></div>
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Jan. 25, 2021 01:04PM EST
MyPillow CEO Mike Lindell moves the goalposts on a run for Minnesota governor — again
The will-he-or-won't-he speculation surrounding a possible gubernatorial run by MyPillow CEO Mike Lindell is destined to continue at least a bit longer.
What he's saying: Lindell told Axios that his focus is currently on proving his (baseless) claims of election fraud. He won't make a decision until that fight is resolved.
<ul class="ee-ul"><li>"Why would anybody want to run if they had the same machines with the election fraud?" Lindell said Friday.</li><li>"It will all get out there, and when it does, we'll see what elections are going to have to be done with paper ballots and no machines. Otherwise, it doesn't make sense to put in everybody's resources and time."</li></ul><p><strong>Between the lines:</strong> While he's leaving the door open, Lindell's comments create a path for bowing out.</p><p><strong>Why it matters:</strong> If Lindell runs, name recognition and his ties to Trump could give him an edge among GOP voters.</p><ul class="ee-ul"><li>Many top Republican officials and consultants think having the unpredictable pillow salesman at the top of the ticket would <a href="https://apnews.com/article/donald-trump-minnesota-elections-voting-machines-voting-cc4a995a469fffcc9ef0a100e66e2299" target="_blank">spell disaster</a> for their efforts to win statewide in 2022.</li></ul><p><strong>How we got here:</strong> Lindell has been flirting with a bid for months, but his commitment to <a href="https://www.startribune.com/minnesota-s-mike-lindell-among-last-remaining-election-fraud-crusaders-for-trump/600014348/" target="_blank">promoting conspiracy theories</a> about the 2020 election — including a <a href="https://www.axios.com/off-the-rails-trump-cia-kash-patel-6c5ea317-43e9-48da-993f-5c7ab823c4c1.html" target="_self">much-covered White House visit</a> — has triggered <a href="https://www.axios.com/dominion-mike-lindell-my-pillow-ceo-trump-meeting-df5ec714-0528-4d7a-b70d-5c7a5a012a7e.html" target="_self">legal backlash</a> and <a href="https://www.axios.com/retailers-mypillow-trump-mike-lindell-election-misinformation-33d68c36-10cf-4328-bd43-0e9118021059.html" target="_self">trouble for his business</a>.</p><ul class="ee-ul"><li>Last fall, Lindell <a href="https://kttc.com/2020/10/30/my-pillow-ceo-says-he-will-run-for-governor-if-trump-wins-election/" target="_blank">said</a> he'd run if Trump won another term. Then, in early January, he told <a href="https://www.startribune.com/gop-field-for-governor-next-year-already-taking-shape/600006424/" target="_blank">the Star Tribune</a> he was "90-95%" sure he'd jump in and would decide "once we know Donald Trump is our president."</li></ul></div>
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