Trump says lower interest rates key to economy
WASHINGTON (AP) — President Donald Trump says his administration is a looking at tax cut proposals but not as a response to a potential recession. He says, “I’m looking at that all the time anyway.” Trump talked about the economy and trade with China during a meeting Tuesday in the Oval Office with the president of Romania.
Trump says his administration is looking at a cut in the capital gains tax when investors sell assets. It is also exploring lower payroll taxes.
But mostly, Trump is pressuring the Federal Reserve to cut interest rates. He says, “They have to do a rate cut.”
Trump says the word recession is “inappropriate” and if the Fed would do its job, “you would see a burst of growth like you’ve never seen before.”
ELECTION 2020-INSLEE-THE LATEST
The Latest: AP sources: Inslee to seek 3rd term as governor
OLYMPIA, Wash. (AP) — Two people close to Washington Gov. Jay Inslee have told The Associated Press that he intends to seek a third term as governor.
The news comes after Inslee announced the end of his Democratic presidential campaign on MSNBC on Wednesday night.
The two people close to Inslee said he will announce his reelection intentions in an email to supporters Thursday. They were not authorized to discuss the announcement publicly and spoke to the AP on Wednesday on condition of anonymity.
Inslee always kept the option of a third term open, even as Democratic candidates had started lining up ready to get into the race if he didn’t. Attorney General Bob Ferguson, Commissioner of Public Lands Hilary Franz and King County Executive Dow Constantine had signaled they would run if Inslee didn’t.
— By Rachel La Corte
JEFFREY EPSTEIN-LAST WILL
Epstein may have gamed the system from beyond the grave
FORT LAUDERDALE, Fla. (AP) — The will that Jeffrey Epstein signed just two days before his jailhouse suicide puts more than $577 million in assets in a trust fund that could make it more difficult for his dozens of accusers to collect a share of his riches.
Estate lawyers and other experts say prying open the trust and dividing up the financier’s fortune is not going to be easy and could take years.
One attorney says Epstein managed to manipulate the system one last time from beyond the grave.
The 66-year-old Epstein killed himself Aug. 10 while awaiting trial on federal sex trafficking charges. He was accused of sexually abusing dozens of teenage girls.
Trump administration plans to end limits on child detention
WASHINGTON (AP) — The Department of Homeland Security is moving to end a long-standing federal court agreement that limits how long immigrant children can be kept in detention.
That’s according to two DHS officials who spoke to the AP on condition of anonymity to discuss regulations not made public. They could come as early as this week.
The move is almost certain to spark a new court fight over the government’s ability to hold families until their cases are decided.
The so-called Flores agreement requires the government to keep children in the least restrictive setting possible and to release them generally after 20 days in detention.
Because of those restrictions, migrant families coming into the country have been released into the U.S. while their asylum requests wind their way through the courts.
Report shows deficit to exceed $1 trillion next year
WASHINGTON (AP) — The Congressional Budget Office is upping its projections for this year’s federal deficit by $63 billion and increasing its forecast for deficits over the next decade by $809 billion.
The nonpartisan office projects the deficit will exceed $1 trillion beginning next year.
The office says its projections on both fronts stem mostly from recently enacted legislation that lifted the nation’s debt limit and reversed scheduled 10% cuts to defense and nondefense programs.
The Latest: Trump calls comments by Danish leader ‘nasty’
COPENHAGEN, Denmark (AP) — President Donald Trump says he scrapped his trip to Denmark because the prime minister made a “nasty” statement when she rejected his idea to buy Greenland as an absurdity.
Trump says, “You don’t talk to the United States that way, at least under me.”
Danish Prime Minister Mette Frederiksen called the whole thing “an absurd discussion” and said she was “disappointed and surprised” that Trump had canceled his visit.
Trump says Frederiksen’s comment labeling his idea as absurd “was nasty. I thought it was an inappropriate statement. All she had to say was say, ‘No, we wouldn’t be interested.'”
Greenland is a semi-autonomous territory of the U.S. ally, and Frederiksen said the U.S. remains one of Denmark’s close allies.
OCEAN PLANE CRASH-THE LATEST
The Latest: Pilot blames bad gas in California plane crash
LOS ANGELES (AP) — The pilot of a small plane that malfunctioned says he believes bad gasoline forced him to ditch the aircraft into the ocean off the Northern California coast.
David Lesh says Wednesday he had siphoned particulate matter out of the gasoline but doesn’t think he got all of it out.
The 34-year-old pilot says he had purchased the single-engine Beechcraft Bonanza propeller plane nearly three months ago for more than $200,000 and then spent about $40,000 for upgrades.
He was taking it on its first real flight for an aerial photo shoot Tuesday in Half Moon Bay, south of San Francisco.
He says he and his passenger, a longtime friend, were stung by jellyfish and suffered potential hypothermia as they waited for a Coast Guard rescue helicopter.
Reported illness among vapers reaches 150 possible cases
NEW YORK (AP) — The number of breathing illnesses reported among people who vape is growing. Health officials are now looking into more than 150 possible cases in 16 states.
Officials on Wednesday said the Food and Drug Administration has joined the Centers for Disease Control and Prevention and states investigating reports from the last two months.
All the illnesses were in teens or adults who had used an electronic cigarette or some other kind of vaping device. Doctors say the illnesses resemble an inhalation injury, with the lungs apparently reacting to a caustic substance. So far infectious diseases have been ruled out.
No single vaping product or compound has been linked to all of the cases, and officials said it’s not clear if there’s a common cause.
No deaths have been reported.
Taylor Swift says she plans to re-record her songs’ masters
NEW YORK (AP) — Taylor Swift plans to re-record her songs after her catalog was purchased by popular music manager Scooter Braun.
“CBS Sunday Morning” previewed some of its pre-taped interview with Swift on Wednesday. The reporter asks Swift if she would consider re-recording her songs in order to own the new versions, and Swift said, “Oh yeah.” When asked if that was the plan, Swift replied with: “Yeah, absolutely.”
Braun’s Ithaca Holdings announced in June that it acquired Big Machine Label Group, home to Swift’s first six albums. Swift said in November that she signed with Universal Music Group instead of staying at Big Machine because she knew that re-signing would only result in her not owning her future work.
The full interview will air Sunday on CBS at 9 a.m. Eastern.
GOVERNOR’S HOME-LAWSUIT-THE LATEST
The Latest: Case over WV governor’s residency continues
CHARLESTON, W.Va. (AP) — Can the governor of West Virginia be forced to live in the state capital? A lawsuit seeking to do just that is still in play.
A judge in West Virginia on Wednesday requested additional documents in the case against Gov. Jim Justice, further extending the long-running suit.
Democratic Del. Isaac Sponaugle filed the case and says Justice should be required to live in Charleston because the state Constitution says the governor must “reside at the seat of government.” He has filed two similar suits but they were thrown out on technicalities.
Justice’s lawyers argue that the definition of the word reside is unclear and say the governor is in Charleston when he needs to be.
Justice has said he lives in Lewisburg, not at the governor’s mansion.
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