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The Congressional Budget Office said Monday that the U.S. economy could be .7 trillion smaller over the next decade than it otherwise would have been if Congress does not mitigate the economic damage from the coronavirus.The CBO, which had already issued a report forecasting a severe economic impact over the next two years, expanded that forecast to show that the severity of the economic shock could depress growth for far longer.The new estimate said that over the 2020-2030 period, total GDP output could be .7 trillion lower than CBO had been projecting as recently as January. That would equal 5.3% of lost GDP over the coming decade.After adjusting for inflation, CBO said the lost output would total .9 trillion, a loss of 3% of inflation-adjusted GDP.CBO called this a “significant markdown” in GDP output as a result of the pandemic.“Business closures and social distancing measures are expected to curtail consumer spending, while the recent drop in energy prices is projected to severely reduce U.S. investment in the energy sector,” CBO Director Philip Swagel said in a letter.“Recent legislation will, in CBO’s assessment, partially mitigate the deterioration in economic conditions,” Swagel said in the letter to Sens. Chuck Schumer, D-N.Y., and Bernie Sanders, I-Vt. The two had requested the information as a way to pressure Republicans to follow the lead of the House and pass more economic relief.“Last week we learned that over 40 million Americans lost their jobs as a result of this horrific pandemic,” Schumer and Sanders said in a joint statement. “Today, the CBO tells us that if current trends continue, we will see a jaw-dropping trillion reduction in economic growth over the next decade.”Schumer and Sanders said Republicans should stop blocking legislation to provide more assistance given that 40 million workers have lost their jobs already.“In order to avoid the risk of another Great Depression, the Senate must act with a fierce sense of urgency,” Schumer and Sanders said.The CBO is forecasting that the GDP, which shrank at a 5% rate in the first three months of this year, will fall at a 37.7% rate in the current April-June quarter, the biggest quarterly decline on record.The CBO also issued a separate report detailing a cost estimate for a .4 trillion COVID-19 rescue bill that passed the Democratic-controlled House in mid-May. That legislation is built around 5 billion in aid to state and local governments, another ,200 payment to most American workers, and additional aid to colleges and local school districts. The price tag is slightly higher than a back-of-the-envelope figure provided by Democrats when the measure passed.Senate Republicans have dismissed the proposal as a wish list but have yet to unveil any proposal to counter it. 2817

The Dow Jones Industrial Average recovered on Tuesday, closing up 1,163 points as oil stocks bounced back after a turbulent Monday. Although the coronavirus was likely a major factor in Monday's record point drop, oil stocks also tumbled on Monday as a feud between Russia and Saudi Arabia over oil prices led to the plummet. Many of those same stocks saw a recovery on Tuesday. The Dow lost a record 2,000 points on Monday.Still, the Dow has lost ground over the last several weeks. The market has lost 4,500 points from last month, or roughly 15% of its value. The Dow's Tuesday resurgence came despite coronavirus figures jumping nationwide. More than 700 cases have been reported nationwide, with 28 fatalities. 728

The House on Tuesday rebuked President Donald Trump over one of his signature issues, passing a resolution to overturn his emergency declaration to unlock money for wall construction at the US southern border.The vote was 245-182. Thirteen Republicans voted with Democrats to pass the measure.The resolution will next be taken up by the Senate, where it will put Republican unity to the test, though Senate leaders have signaled they will not bring it to a vote immediately.It is not yet clear how many Republicans will vote for the resolution in the Senate, but it looks likely to pass the upper chamber, despite the fact that Republicans hold a majority. That would be yet another blow to the President, who has said he will veto the resolution if it comes to his desk.A test of Republican unity in the SenateIf four Republicans join all the Democrats in the Senate to pass the resolution, the measure would then face a presidential veto. The White House formally issued a veto threat on Tuesday afternoon.Congress would then need an overwhelming majority -- two-thirds of its members -- in both chambers to overrule the President. It is unlikely that there would be enough support on Capitol Hill to overturn a veto.So far, there are three Republicans who have signaled they will vote in favor of the resolution. And Senate GOP aides fully expect the resolution to pass when it is brought to the floor.GOP Sen. Thom Tillis of North Carolina, who is 1464

The death of George Floyd while in the custody of four Minneapolis police officers was “criminal,” the Major Cities Chiefs Association said in a statement on Monday. The association consists of dozens of chiefs of police from large American and Canadian cities. The letter was signed by dozens of chiefs of police throughout North America. “The death of George Floyd was, by any measure of professional policing unnecessary, avoidable and criminal,” the letter read. The chiefs released the letter on Monday as unrest over Floyd’s death and the treatment of African Americans by law enforcement has continued in recent days. The chiefs acknowledge now is the time to listen to communities of color who are concerned about the treatment of African Americans by law enforcement. One officer, Derek Chauvin, was charged with Floyd's death. Three other officers have not been charged, but are under investigation.Here is the letter in full:The death of George Floyd was, by any measure of professional policing unnecessary, avoidable and criminal. As leaders of the largest local law enforcement organizations in the United States and Canada, we must be honest about our history and ask ourselves tough questions before we are able to offer the right answers. A history dating back over two centuries that has included institutional racism and more recently, a history that during the civil rights movement over 50 years ago, included injustices and police brutality against African Americans who were fighting for equal rights and equal protections. We need to hear what America is telling us right now and we need to take bold and courageous action to change the narrative of our history as it relates to the disparate impact and outcomes that policing has had - and continues to have - on African Americans, people of color and the disenfranchised. We have had versions of this conversation before. Names echo to police and communities alike - Eric Garner, Walter Scott, Philando Castile, Jeremy Mardis and instances where African American men and women have unjustly lost their lives at the hands of police officers. Each of these cases raised different concerns, but collectively they add new and painful chapters to our history that compels all of us to take inventory and be held accountable. Accountability must continue to be the cornerstone of tangible and substantive change and ethical policing. We commend Minneapolis Police Chief Medaria Arradondo for taking decisive and necessary action by immediately firing the four officers. Understanding every chief’s administrative authorities are different and not everyone may be legally permitted to immediately terminate an officer’s employment, we expect every major city chief to take every action within their legal authority to hold officers accountable. The balance of labor and management is often out of calibration. Contracts and labor laws hamstring efforts to swiftly rid departments of problematic behavior and as law enforcement executives, we call for a review of those contracts and laws. It will take strong leadership from all of us as well as collaborative partnerships from leaders from all walks of life and all levels. Actions matter and so do words. Provocative statements create tension that lead to danger for police officers and the public. During challenging times, leaders need to reassure and calm, not instigate and stoke discord. Let us be the example for all leaders to follow. More than anything, this is a time for us to help facilitate healing, learning, listening and then dialogue, particularly in communities of color. Police departments, because of the nature of their work in a constantly changing democracy, have proven to be the most adaptive and agile agencies in municipal government. The Major Cities Chiefs Association will be a catalyst for these conversations, a resource for our members searching for best practices and a voice in the national discourse on race relations, policing and reform. 4007

The man who drove into a crowd of counterprotesters in Charlottesville's "Unite the Right" rally two years ago has pleaded for mercy and asked for a sentence less than life imprisonment in his federal hate crimes case.In a sentencing memorandum filed in federal court Friday, James A. Fields Jr. said the court should not give him a life sentence because of his young age, history of mental illness and childhood trauma, and to show that no one is defined by their worst moments."James did not come to Charlottesville with any plan to commit an act of violence. In the space of only a few minutes, caught in circumstances he did not intend to create, he acted in an aggressive and impulsive manner consistent with his mental health history and his age," the memo reads."In a matter of seconds he caused irreparable harm for which there is no excuse. But this Court can understand his actions, without excusing them, as symptomatic of transient immaturity, and not consider them to be predictive of who he might be in the future with time and medication."The memorandum notes that Fields' grandfather killed his grandmother and then himself, and that his father died in a car accident before Fields was born. His mother was in an accident that left her paraplegic before he was born and raised him as a single mother. The memo also says he has been taking medication since his imprisonment that has controlled his symptoms."No amount of punishment imposed on James can repair the damage he caused to dozens of innocent people. But this Court should find that retribution has limits," the memo states.The memo comes ahead of his sentencing in his federal case, in which he pleaded guilty to 29 hate crimes in order to avoid the death penalty.Fields was 20 when he attended the August 2017 demonstrations in Charlottesville, Virginia, and joined white nationalists, neo-Nazis and other groups opposed to the city's decision to remove a statue of Confederate Gen. Robert E. Lee. During a day of violent clashes in the city, Fields drove his vehicle into a crowd of counterprotesters, killing Heather Heyer, a 32-year-old paralegal.Fields was convicted in state court of first-degree murder and other charges, and the jury recommended a sentence of life in prison. He is due to be sentenced in that case on July 15, Commonwealth's Attorney Joseph Platania said in March. 2377