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WASHINGTON, D.C. – Since the start of his presidency, President Donald Trump and his administration have talked about getting manufacturing companies to come back to the United States, a process known as reshoring.Now, with unemployment at a historic high, another 1.5 million people filing jobless claims last week and still 19.5 million continued claims or people unemployed, the idea of reshoring is being revisited by Congress.Some on Capitol Hill are proposing reshoring incentives for companies in the next stimulus package.“There are a lot of potential ways that the administration and Congress could come up with tax subsidies and tax breaks for companies that produces here,” said Ed Yardeni, an economist and the president of Yardeni Research.While believes there could be some jobs created by companies reshoring in the U.S., it’s hard to say how many. That’s partly because, many companies that would consider reshoring would also consider using artificial intelligence at their production plants.“Clearly bringing back jobs would be great, but I don’t think we go back to the 70s and 80s, where we had a lot more people employed,” Yardeni added. “I would think that if you are reshoring and bring production back to the U.S., you are going to use state of the art technology to do that, so I’m not sure it is going to be a huge win-win in terms of jobs.”Experts, including Yardeni, believe companies that would most likely consider reshoring would be those in the pharmaceutical and technology sector. Their reason for the move is likely less for job creation and more because of national security concerns.Either way, the way to get more jobs out of reshoring may be by doing more than just incentivizing companies to come back to the U.S.“Maybe what we need is to combine reshoring with really focusing on reeducating a lot of the labor force so that they can manage the robots, build the robots, program the robots, as opposed to doing the job the robots are doing,” said Yardeni. 2004

WASHINGTON D.C. -- In several Easter morning tweets, President Donald Trump said there will be no more DACA deal and threatened NAFTA, citing border security as a reason for both. Trump also once again threatened to end the filibuster saying, "Republicans must go to Nuclear Option to pass tough laws NOW. NO MORE DACA DEAL!" 348

WASHINGTON, D.C. – The U.S. Supreme Court has ruled that the Manhattan district attorney's office can see President Donald Trump’s tax returns and other financial records, but Congress cannot, at least for now.The two separate decisions were announced Thursday on the court’s final opinion day of its 2019-2020 term, which lasted more than a week longer than it historically does, likely because of the COVID-19 pandemic.The vote in both cases was 7-2. For the time being, the decisions will keep Trump’s long elusive tax returns and other documents out of the public eye. In the New York case, district attorney Cyrus Vance Jr. issued subpoenas for eight years’ worth of Trump’s business and personal tax records. Vance’s office says the records are needed for an investigation into hush-money payments made to two women who claimed they had affairs with Trump.In that case, justices rejected arguments by Trump’s lawyers that the president is immune from investigation while he holds office or that a prosecutor must show a greater need than normal to obtain the records.Chief Justice John Roberts wrote that “no citizen, not even the president, is categorically above the common duty to produce evidence when called upon in a criminal proceeding.” He added that Trump may still raise objections to the scope and relevance of the subpoenas.It’s not yet clear how much of the financial material will become public, if any. The records turned over in the Manhattan investigation are required to be kept secret at least until charges are filed.As for the congressional case, the justices ruled 7-2 to return the case to the lower courts, with no clear prospect for when the it might be resolved. The lower courts will consider separation of powers concerns. House committees issued subpoenas to Trump’s accounting firm and his major lenders last year in an effort to access several years of financial records. Lawmakers argued they needed the records to check the president’s financial disclosures and inform whether conflict-of-interest laws are tough enough, The Washington Post reports.The court’s ruling on the congressional subpoenas is short-term victory for the president, who has fought hard to keep his records private, especially leading up to the November election. 2283

WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell last week to 751,000, the lowest since March but a figure that remains historically high and indicates the viral pandemic is still forcing many employers to cut jobs.Unemployment Insurance Weekly ClaimsInitial claims were 751,000 for the week ending 10/24 (-40,000).Insured unemployment was 7,756,000 for the week ending 10/17 (-709,000).https://t.co/ys7Eg5LKAW— US Labor Department (@USDOL) October 29, 2020 Rising confirmed virus cases in nearly every state, along with a cutoff in federal aid, are threatening to weaken the economy in the coming months.As temperatures fall, restaurants and bars will likely serve fewer customers outdoors. And many consumers may increasingly stay home to avoid infection.Those trends could force employers to slash more jobs during the winter.Though many are still unemployed, the U.S. economy has shown signs of recovery, growing at a 33.1% annual rate in the July-September quarter, the Bureau of Economic Analysis announced Thursday. That’s the largest quarterly gain on record, The Associated Press reports.The growth comes after the historic economic plunge brought on by the pandemic in the spring, when businesses had to close and lay off workers.The Washington Post reports that the U.S. economy has recovered about two thirds of the ground it lost during the first half of the year. Though, The Post says these numbers don’t mean the economy has entirely healed or that the pace of the recovery will continue into the final quarter, especially because of the recent surge in COVID-19 cases across the nation. 1639

WASHINGTON (AP) — President Donald Trump is insisting the Navy “will NOT be taking away Warfighter and Navy Seal Eddie Gallagher’s Trident Pin” that designates him a SEAL.Attorneys for Chief Petty Officer Edward Gallagher had accused the Navy of trying to remove the designation in retaliation for Trump’s decision last week to restore Gallagher’s rank.Gallagher was acquitted of a murder charge in the stabbing death of an Islamic State militant captive, but a military jury convicted him of posing with the corpse while in Iraq in 2017. He was demoted to chief.Trump tweeted, “This case was handled very badly from the beginning” and urged those involved to “Get back to business!”Gallagher filed a complaint with the inspector general accusing a rear admiral of insubordination for defying Trump’s actions. 817