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The concept of universal basic income is getting new attention amid the COVID-19 pandemic. It’s the idea of giving out recurring payments to everyone without any strings attached.Stockton, California, has been testing this with 125 people, giving them 0 per month. They've been getting that money for more than a year and it was supposed to stop this summer, but the mayor extended the money until January because of the pandemic.More mayors are getting on board with the idea. Fifteen joined the organization Mayors for a Guaranteed Income. They're looking into launching pilot programs in their cities.We spoke with an economics professor who says the pandemic stimulus payments can be seen as a form of universal basic income.“Seeing that I think it must make the idea more real and at the same time it's pretty clear at this very moment why you might find this idea appealing,” said Ioana Marinescu, an assistant professor at the University of Pennsylvania. “That's because, again, a lot of people have lost income. There's a clear need for income security.”In the case of the stimulus checks, it's not people's fault they lost their income.With universal basic income, critics say people may not be deserving of the money. Marinescu believes the stimulus may be helping change the perception. She points to money people receive in Alaska from oil revenue. She says people aren't any less likely to work.In Stockton, they've found people are using the money for necessities like groceries and utility bills.How universal basic income, or UBI, gets funded is a big question.“One interesting thing that has happened with the stimulus checks is the idea that people had of saying it's going to be based right now on your past income and we'll potentially tax it away later after we're out of this hole,” said Marinescu. “So to me, that's a potentially important lesson for a potential UBI.”The president of the nonpartisan Center on Budget and Policy Priorities wrote that paying for universal basic income from new taxes isn't the way to go. He says we already need a lot of money to keep social security and Medicare going.Stockton's mayor says money from the pentagon budget or tax money from the legalization of marijuana could work. He's paying for his city's current pilot program with a grant and a private donation.Other cities looking to start pilots are considering forming public-private partnerships or working to find room in the city budget. 2467

The FBI raid on President Donald Trump's personal attorney Michael Cohen sought information that included payments allegedly made to keep women silent about affairs with Trump more than a decade ago.A source familiar with the matter told CNN Tuesday that a focus of the raid was to seek records on the deal set up between ex-Playboy Playmate Karen McDougal and a company that reportedly paid her amid the 2016 presidential campaign cycle to keep her account from publication. 483

The government is looking into getting rid of Transportation Security Administration (TSA) security at dozens of smaller airports across the country.According to reports, the TSA is considering getting rid of security screenings at more than 150 small and medium-sized airports that operate commercial flights, with no more than 60 passengers.The TSA estimates the move would save 5 million, which could then be used to enhance security at busier, larger airports. 475

The Dow Jones Industrial Average traded above 30,000 points for the first time Tuesday.The crest came as investors were encouraged by the latest progress on developing coronavirus vaccines and news that the transition of power in the U.S. to President-elect Joe Biden will finally begin.Traders were also encouraged by news that Biden had selected Janet Yellen, a widely respected former Federal Reserve chair, as treasury secretary.The Dow rose more than 400 points, or 1.4%, to trade just over 30,000 midday Tuesday. The S&P 500 index, which has a far greater impact on 401(k) accounts than the Dow, rose 1.3%.Shortly after the Dow crested, President Donald Trump delivered remarks at the White House, congratulating his administration and the people of the U.S.“The stock market has just broken 30,000, never been broken, that number, that’s a sacred number, 30,000. Nobody thought they’d ever see it,” said Trump. “That’s the 9th time since the beginning of 2020 and it’s the 48th time that we’ve broken records during the Trump administration. And I just want to congratulate all the people within the administration that work so hard. And most importantly, I want to congratulate the people of our country, because there are no people like you.”Like others, Trump attributed the success of the stock market to the promising news that multiple vaccines are proving to be effective and headed for FDA approval.“Despite everything that’s taken place with the pandemic, I’m very thrilled with what’s happened on the vaccine front,” said Trump. “That’s been absolutely incredible. Nothing like that has ever happened medically and I think people are acknowledging that and it’s having a big effect.”Trump, who often speaks for long periods of time and has sparred with the media in the past, kept Tuesday’s remarks short and didn’t take questions as reporters asked him why he hasn’t conceded to Biden for the good of the country.Watch the president’s remarks below: 1979

The FDA announced on Friday that it has issued an emergency use authorization for a second coronavirus vaccine. Its approval comes just one week after the FDA gave an emergency use authorization for a similar vaccine by Pfizer. That vaccine began distribution earlier this week. Moderna’s vaccine has been hailed as a medical breakthrough. The vaccine has been considered 94.1% effective against the virus. According to Moderna, none of the thousands who were given two shots of the vaccine had severe COVID-19 symptoms. That is compared to 30 patients who were given a placebo who had symptoms.In order to obtain an emergency use authorization, the FDA weighed the vaccine’s benefits against possible side effects. An emergency use authorization is not a full FDA approval, but it allows those outside of a clinical or hospital setting to obtain the vaccine. “With the availability of two vaccines now for the prevention of COVID-19, the FDA has taken another crucial step in the fight against this global pandemic that is causing vast numbers of hospitalizations and deaths in the United States each day,” FDA Commissioner Stephen M. Hahn said in a statement. “Through the FDA’s open and transparent scientific review process, two COVID-19 vaccines have been authorized in an expedited timeframe while adhering to the rigorous standards for safety, effectiveness, and manufacturing quality needed to support emergency use authorization that the American people have come to expect from the FDA. These standards and our review process, which are the same we have used in reviewing the first COVID-19 vaccine and intend to use for any other COVID-19 vaccines, included input from independent scientific and public health experts as well as a thorough analysis of the data by the agency’s career staff.”According to Moderna, approximately 20 million doses will be delivered to the U.S. government by the end of December 2020. Moderna said it expects to have between 100 million and 125 million doses available globally in the first quarter of 2021, with 85-100 million of those available in the U.S.While the vaccine could nearly eliminate the number of hospitalizations and deaths associated with the virus, the shot might result in some symptoms.In an interview with CNN last month, Operation Warp Speed chief scientific adviser Moncef Slaoui said that 10 to 15% of those immunized had noticeable side effects.“Most people will have much less noticeable side effects. That frankly -- in comparison to a 95% protection against an infection that can be deadly or significantly debilitating -- I think is an appropriate balance," he told CNN. 2648