Economic policy

Senate Majority Leader Mitch McConnell of Ky., right, and House Minority Leader Kevin McCarthy of Calif., listen as President Donald Trump speaks during a meeting in the Oval Office of the White House, Monday, July 20, 2020, in Washington. Congress is just starting to negotiate new legislation to renew coronavirus aid. But the biggest obstacles to a deal are already coming into view. The Democratic House passed a whopping $3.5 trillion coronavirus response bill more than two months ago and is demanding robust funding to help state and local governments. Republicans want to keep the bill closer to $1 trillion and are insisting on new legal protections for schools, businesses, and charities that are trying to reopen. It’s up to top congressional leaders to bridge the gaps as they negotiate with President Donald Trump's White House. (AP Photo/Evan Vucci)
July 23, 2020 - 7:16 am
WASHINGTON (AP) — Bipartisan Capitol Hill talks have only just begun on a sweeping renewal of coronavirus legislation, but areas of likely agreement — and flashpoints of discord — are becoming apparent as the package starts to take shape. The Democratic House passed a whopping $3.5 trillion...
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Australian Treasurer Josh Frydenberg addresses the media during a federal budget update ahead of the 2020/21 budget scheduled for October, at Parliament House in Canberra, Thursday, July 23, 2020. Australia’s response to the coronavirus pandemic tipped the government’s budget AU$85.8 billion ($61 billion) into the red in the last fiscal year and will create AU$184 billion ($131 billion) more debt in the current year which would be the nation’s biggest deficit since World War II, treasury figures showed on Thursday. (Lukas Coch/AAP Image via AP)
July 23, 2020 - 3:35 am
CANBERRA, Australia (AP) — Australia’s response to the coronavirus pandemic tipped the government’s budget 85.8 billion Australian dollars ($61 billion) into the red in the last fiscal year and will create AU$184 billion ($131 billion) more debt in the current year which would be the nation’s...
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Ohio House Speaker Larry Householder leaves the federal courthouse after an initial hearing following charges against him and four others alleging a $60 million bribery scheme Tuesday, July 21, 2020, in Columbus, Ohio. (AP Photo/Jay LaPrete)
July 22, 2020 - 3:24 pm
COLUMBUS, Ohio (AP) — A nuclear plant bailout law should remain in place, Republican Gov. Mike DeWine said Wednesday, even as a bribery scandal involving one of the state’s most powerful lawmakers unfolded over the law’s passage and both Democratic and GOP lawmakers called for its repeal. DeWine's...
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FILE - In this Nov. 3, 2017, file photo, residents line up at a security checkpoint into the Hotan Bazaar where a screen shows Chinese President Xi Jinping in Hotan in western China's Xinjiang region. The U.S. government has imposed trade sanctions on 11 companies it says are implicated in human rights abuses in China’s Muslim northwestern region of Xinjiang.(AP Photo/Ng Han Guan, File)
July 21, 2020 - 10:51 pm
BEIJING (AP) — China said Tuesday it would take unspecified “necessary measures" after the U.S. government imposed trade sanctions on 11 companies it says are implicated in human rights abuses in China’s Muslim northwestern region of Xinjiang. The sanctions add to U.S. pressure on Beijing over...
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Treasury Secretary Steven Mnuchin , center, walks to a Republican luncheon, Tuesday, July 21, 2020, while attending meetings on Capitol Hill in Washington. In the background at center left is White House Chief of Staff Mark Meadows. (AP Photo/Jacquelyn Martin)
July 21, 2020 - 10:10 pm
WASHINGTON (AP) — The price tag for the next COVID-19 aid package could quickly swell above $1 trillion as White House officials negotiate with Congress over money to reopen schools, prop up small businesses, boost virus testing and keep cash flowing to Americans while the virus crisis deepens in...
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This Wednesday, Oct. 30, 2019 file photo shows Ohio State Representative Larry Householder (R), of District 72, stands at the head of a legislative session as Speaker of the House, in Columbus. FBI agents were at the farm of Householder on Tuesday morning, hours ahead of a planned announcement of a $60 million bribe investigation by federal prosecutors. (AP Photo/John Minchillo, File)
July 21, 2020 - 3:56 pm
COLUMBUS, Ohio (AP) — The powerful Republican speaker of the Ohio House and four associates were arrested Tuesday in a $60 million federal bribery case connected to a taxpayer-funded bailout of Ohio’s two nuclear power plants. Hours after FBI agents raided Speaker Larry Householder’s farm, U.S...
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FILE - In this Feb. 13, 2020 file photo, President Donald Trump's nominee to the Federal Reserve, Judy Shelton, appears before the Senate Banking Committee for a confirmation hearing, on Capitol Hill in Washington. In a shift, the Senate Banking Committee is likely to back President Donald Trump's unconventional nomination of Shelton for the Federal Reserve's Board of Governors in a party-line vote Tuesday, July 21. (AP Photo/J. Scott Applewhite, File)
July 21, 2020 - 3:01 pm
WASHINGTON (AP) — The Senate Banking Committee on Tuesday approved President Donald Trump's choice of Judy Shelton for the Federal Reserve board of governors on a party-line vote, overcoming widespread questions about her qualifications for the Fed. Committee Chairman Sen. Mike Crapo, Republican of...
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German Chancellor Angela Merkel, left, and French President Emmanuel Macron walk onto the podium prior to a media conference at the end of an EU summit in Brussels, Tuesday, July 21, 2020. Weary European Union leaders finally clinched an unprecedented budget and coronavirus recovery fund early Tuesday, finding unity after four days and as many nights of fighting and wrangling over money and power in one of their longest summits ever. (John Thys, Pool Photo via AP)
July 21, 2020 - 11:00 am
FRANKFURT, Germany (AP) — European leaders took a historic step towards sharing financial burdens among the EU's 27 countries by agreeing to borrow and spend together to pull the economy out of the deep recession caused by the virus outbreak. Pushed by Germany's Angela Merkel and France's Emmanuel...
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Senate Majority Leader Mitch McConnell of Ky., listens as President Donald Trump speaks during a meeting in the Oval Office of the White House, Monday, July 20, 2020, in Washington. (AP Photo/Evan Vucci)
July 20, 2020 - 9:46 pm
WASHINGTON (AP) — President Donald Trump acknowledged Monday a “big flareup” of COVID-19 cases, but divisions between the White House and Senate Republicans and differences with Democrats posed fresh challenges for a new federal aid package with the U.S. crisis worsening and emergency relief about...
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FILE - In this May 22, 2020, file photo the Dome of the U.S. Capitol Building is visible through heavy fog in Washington. With COVID-19 cases hitting alarming new highs and a grim rising death toll, the pandemic's devastating cycle is happening all over again, leaving Congress little choice but to engineer another costly rescue. (AP Photo/Andrew Harnik, File)
July 19, 2020 - 7:21 pm
WASHINGTON (AP) — Top Republicans in Congress were expecting to meet Monday with President Donald Trump on the next COVID-19 aid package as the administration panned more virus testing money and interjected other priorities that could complicate quick passage. Senate Majority Leader Mitch McConnell...
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