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Trump promises economic rejuvenation in speech with few policy details

President Trump promised on Wednesday to lift the economy "to unprecedented heights" and bring about a quick "return to full employment," but did not lay out specific economic plans for a potential second term.

Why it matters: Economists have largely abandoned expectations that the economy and labor market will spring right back to pre-pandemic levels. Instead, they are bracing for an uneven, sluggish road back.


What he's saying: President Trump told an event hosted by the Economic Club of New York on Wednesday that "we're going again for a big middle income tax cut" — which he also promised ahead of the 2018 elections — but didn't provide specifics.

  • Trump also said he has an infrastructure plan now, "but we're gonna make it much bigger." He did not elaborate.
  • Trump positioned the election as "a choice between a socialist nightmare and the American Dream," and claimed a Joe Biden victory would cause a "steep" economic depression.

The big picture: President Trump also said the White House was "trying to get some stimulus money" for industries battered by the pandemic, like the airlines and cruise-lines.

  • He said he'd like to see the Democrats "loosen up a little bit" — a week after Trump called off negotiations, and then demanded that Congress "go big or go home" on stimulus.
  • Negotiations remain at an impasse. Treasury Secretary Steven Mnuchin, who had a call with Speaker Nancy Pelosi on Wednesday, said that it's unlikely that there will be a COVID relief deal before the election.

Go deeper: Where Trump stands on economic promises

The dangerous instability of school re-openings

Schools across the country have flip-flopped between in-person and remote learning — and that instability is taking a toll on students' ability to learn and their mental health.

The big picture: While companies were able to set long timelines for their return, schools — under immense political and social strain — had to rush to figure out how to reopen. The cobbled-together approach has hurt students, parents and teachers alike.

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Trump doesn't have a second-term economic plan

President Trump has not laid out an economic agenda for his second term, despite the election being just eight days away.

Why it matters: This is unprecedented in modern presidential campaigns, and makes it harder for undecided voters to make an informed choice.

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How Trump’s energy endgame could go

Expect President Trump to redouble his efforts loosening regulations and questioning climate-change science should he win reelection next month.

Driving the news: A second Trump administration would supercharge efforts by certain states, countries and companies to address global warming. But some wildcards could have a greener tinge.

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The swing states where the pandemic is raging

Data: The COVID Tracking Project, The Cook Political Report; Table: Andrew Witherspoon/Axios

Several states that are likely to decide which party controls Washington next year have exceptionally large coronavirus outbreaks or are seeing cases spike.

Why it matters: Most voters have already made up their minds. But for those few holdouts, the state of the pandemic could ultimately help them make a decision as they head to the polls — and that's not likely to help President Trump.

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Tropical Storm Zeta may strengthen into hurricane before reaching U.S.

The U.S. Gulf Coast and Mexico are bracing for another possible hurricane after Tropical Storm Zeta formed in the Caribbean Sea Sunday.

Of note: Zeta is the 27th named storm of the 2020 Atlantic Hurricane season — equaling a record set in 2005.

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Rockefeller Foundation commits $1 billion for COVID-19 recovery

The Rockefeller Foundation announced on Monday that it will allocate $1 billion over the next three years to address the pandemic and its aftermath.

Why it matters: The mishandled pandemic and the effects of climate change threaten to reverse global progress and push more than 100 million people into poverty around the world. Governments and big NGOs need to ensure that the COVID-19 recovery reaches everyone who needs it.

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How Amy Coney Barrett will make an immediate impact on the Supreme Court

In her first week on the job,Amy Coney Barrett may be deciding which votes to count in the presidential election. By her third week, she’ll be deciding the fate of the Affordable Care Act.

Where it stands: The Senate votes on Barrett’s nomination tomorrow. If she’s confirmed, Chief Justice John Roberts is expected to swear her in at the Supreme Court within hours, an administration official tells Axios.

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Biden team rebuffs Texas Democrats' pleas for more money

The Biden campaign is rebuffing persistent pleas from Texas Democrats to spend at least $10 million in the Lone Star state, several people familiar with the talks tell Axios.

Why it matters: If Texas — which has 38 electoral votes and is steadily getting more blue, but hasn't backed a Democrat for president since 1976 — flipped to the Biden column, it would be game over. But the RealClearPolitics polling average stubbornly hovers at +2.6 for Trump — and Team Biden appears more focused on closer targets.

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