MORNING MESSAGE
Trump’s
tone-deafness was in full effect last week, when he announced his team of
economic advisers ... Trump’s team isn’t just monochromatic and male. At least
four, and perhaps as many six, of the men are billionaires ... There are only
two economists on the team – and one of them believes in the flat tax. But hedge
funds are represented. So is fracking. And tobacco. And guns. And banking. And
steel. And there’s the guy who mismanaged Chrysler before it was rescued by a
government intervention.
TRUMP TO REFOCUS ON ECONOMY
Trump
to “reboot” with an economic speech today. WSJ: “The candidate isn’t likely
to offer a detailed revision of his previously announced plan for big tax cuts.
Advisers have been working on an overhaul of that plan to address criticism it
would rapidly expand the federal deficit, but that revision isn’t yet ready,
advisers said.”
“Trump
to Propose Moratorium on New Financial Regulations” reports Bloomberg:
“Trump will say he will not propose any new financial regulations until the
economy shows ‘significant growth,’ the aides said. Trump has previously said he
would repeal and replace the 2010 Dodd-Frank Act … Trump will also propose a
repeal of the estate tax…”
Trump
to also offer fully deductible child care. The Hill: “‘We’re going to help
working parents by making childcare payments fully tax deductible. ‘That’s new
policy,’ [said Trump’s] aide …. Clinton has said she would make child care costs
more manageable through steps including tax relief and increased federal funds …
Other policies outlined in Trump’s speech will include the corporate tax rate
being lowered to 15 percent…”
Clinton
will respond with an economic speech Thursday. Bloomberg: “Clinton plans to
cap two weeks of campaigning focused on jobs and the economy … with a speech in
Detroit that campaign officials say will highlight the stark contrast between
her views and those of Trump.”
DEMOCRATIC WAVE?
Could
a Democratic wave take over Congress? Bloomberg’s Al Hunt: “Republican
strategists say a five-point Clinton victory in [key] states is survivable for
down-ballot candidates. Anything more, particularly if her margin hits double
digits, might mean curtains.”
Can
Debbie Wasserman Schultz win her primary? American Prospect’s Justin Miller:
“…law professor Tim Canova has built the most successful small-donor driven
[congressional] campaign in the country … [But] Florida’s retiree-packed 23rd
Congressional District is far from a Sanders Democrat stronghold.”
African-American
vote could turn South blue, says NYT’s Charles Blow: “An NBC/Wall Street
Journal poll released Thursday found that a measly 1 percent of registered black
voters overall support Trump. That’s extremely problematic in states with high
numbers of black voters … [If] the black vote tips even one of the Deep South,
Black Belt states blue, the Republicans won’t only need an autopsy, they’ll need
a Ouija board — because they’ll be dead and buried.”
BREAKFAST SIDES
NYT’s
Paul Krugman urges deficit spending: “Put these two facts together — big
needs for public investment, and very low interest rates — and it suggests not
just that we should be borrowing to invest, but that this investment might well
pay for itselfeven in purely fiscal terms.”
Are
think tanks being influenced by corporate interests? NYT: “On issues as
varied as military sales to foreign countries, international trade, highway
management systems and real estate development, think tanks have frequently
become vehicles for corporate influence and branding campaigns. ‘This is about
giant corporations who figured out that by spending, hey, a few tens of millions
of dollars, if they can influence outcomes here in Washington, they can make
billions of dollars,’ said Senator Elizabeth Warren.”
Progressive
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