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SCOTUS's split decisions

QuickTake
Bloomberg

Greetings, QuickTake readers! In this edition: Biden pledges New Deal-like spending plan, Covid-19 is relentlessly bankrupting U.S. businesses, and a new visa would let you work remotely from Barbados.

SCOTUS rules on Trump's taxes

The U.S. Supreme Court ruled against President Trump's attempt to block a subpoena of his accounting firm on Thursday in a 7-2 decision backing a New York grand jury's bid for his personal and business tax records.

  • In the case of Trump v. Vance, Chief Justice John Roberts wrote: "The president is neither absolutely immune from state criminal subpoenas seeking his private papers nor entitled to a heightened standard of need."
  • Justices Clarence Thomas and Samuel Alito dissented, saying they would have given the president greater protections.

However, in a second 7-2 decision, justices blocked, for now, subpoenas from the U.S. House that might have led to the public release of Trump's financial records in the run-up to the November election.

  • In the case of Trump v. Mazar, Roberts wrote: "Burdens imposed by a congressional subpoena should be carefully scrutinized, for they stem from a rival political branch that has incentives to use subpoenas for institutional advantage."
  • Thomas and Alito dissented again, saying they would have gone further and rejected the House subpoenas altogether.

The rulings establish both that Trump, as president, isn't above the law nor does he have "absolute immunity," but that Congress, in seeking his records, is limited in its role to monitor the executive branch.

In response, Trump blasted the court, calling himself a victim of "political persecution," and tweeted: "I won the Mueller Witch Hunt, and now I have to keep fighting in a politically corrupt New York. Not fair to this Presidency or Administration!"

Nancy Pelosi said the House will pursue the Trump v. Mazar case in the lower courts. "The path the Supreme Court laid out is clearly achievable," she said. "It is not good news for the president of the United States."

More: 

  • Trump is the first president since Jimmy Carter who's refused to make his tax returns public before he was elected. When asked in 2014 whether he would if he ran for office, he said, "absolutely."

$ignificant figures

$700 billion. The cost of Joe Biden's "Build Back Better" economic plan that's divided into four areas: create 5 million jobs, build infrastructure and clean energy, advance racial equity, and modernize the "caring" economy.

120. Florida reported that many Covid-19 deaths Thursday, for a total of 4,009, and 409 hospitalizations, totaling 17,167, setting daily records for both as a new surge in cases sweeps the Sun Belt states.

111. At least that many U.S. businesses this year have declared bankruptcy due to the pandemic, including retailers, airlines, restaurants, sports leagues, a cannabis company, and an archdiocese.

Highly quotable

"Your only option is to shut down." Dr. Anthony Fauci said that any state seeing a resurgence of Covid-19 "should seriously look at" resuming lockdowns but added, "It's not for me to say, each state is different."

"Unavoidable situation." Seoul officials cleared Mayor Park Won-soon's schedule after his daughter reported him missing Thursday, telling police he had given her "a will-like" message. He was found dead early Friday.

"Catastrophic." Business owners fear Melbourne's second lockdown, a six-week stay-at-home order, will devastate the city's cafes, restaurants, beauty spas, and small retailers that had just begun to reopen.

This is not normal

Scorcher. A searing blast of heat will cloak a large swath of the U.S. next week, from California to New England, likely taxing power grids, stressing crops and breaking records. Several states are already under advisories.

The future is now

Pocket A/C. Sony released a wearable personal air conditioner designed to fit inside a T-shirt pocket that's capable of lowering a person's skin temperature by up to 23 degrees. It also has a heating mode for winter.

What's good

Work from paradise. Barbados is set to introduce a 12-month "welcome stamp" that would allow foreigners to stay for an entire year and work remotely in a bid to keep tourism alive for the Caribbean country.

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BTW: Bill de Blasio, Rev. Al Sharpton, and dozens more painted a sprawling Black Lives Matter sign in front of Trump Tower in NYC. See it.

Thanks for reading!
-Andrew Mach

 

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