Photo: Michael Reaves/Getty Images

Billionaire Mark Cuban tweeted a thread on Sunday calling for the federal government to train and hire millions of Americans as coronavirus contact tracers in order to "dent unemployment with stable jobs."

What he's saying: "It's time to face the fact that [the Paycheck Protection Program] didn't work. Great plan, difficult execution. No one's fault. The only thing that will save businesses is consumer demand. No amount of loans to businesses will save them or jobs if their customers aren't buying."

  • "It's time for trickle up economics. We need a transitional fed jobs program that trains and hires millions for a federal tracking/tracing/testing program as well as for support for at risk populations including long term care. We need to dent unemployment with stable jobs."

Cuban also called for an interim stimulus program that would give every American household a $1,000 check every two weeks for the next two months that must be spent within 10 days of receipt.

  • "This 'use it or lose it' [program] will cost about $500b, but it will allow for demand for non essential products and services to increase, hopefully keeping most businesses alive, as we learn what the impact of re-opening is on the spread and whether or not employment grows organically," Cuban tweeted.

The big picture: The House on Friday passed a $3 trillion coronavirus relief package that has already been deemed dead on arrival by Senate Republicans and the Trump administration.

  • As Congress remains at an impasse, more than 36 million Americans have filed jobless claims over the past two months.
  • Goldman Sachs estimates the unemployment rate will hit 25%, matching the peak level of joblessness during the Great Depression.

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Former GOP Rep. Charlie Dent endorses Joe Biden

Former Rep. Charlie Dent (R-Penn.) said on Wednesday that he will be voting for Joe Biden over President Trump in November, telling CNN: "At the end of the day, this really isn't about right or left. It's not about ideology. ... For me, it's about right or wrong."

Why it matters: Dent, who represented the key swing state of Pennsylvania in Congress before retiring in 2018, is one of a number of former Republican officials who have come out against Trump during the week of the Democratic National Convention.

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Trump announces new Iran sanctions in effort to maintain international arms embargo

Photo: Anna Moneymaker-Pool/Getty Images

President Trump signed an executive order on Monday that would impose sanctions on any person or entity that contributes to the supply, sale, or transfer of conventional arms to or from Iran or is engaged in providing training and financial support related to those weapons.

Why it matters: The executive order is the first step by the Trump administration to put teeth into its claim that international sanctions on Iran were restored over the weekend, one month after the U.S. initiated the "snapback" process under a United Nations Security Council resolution.

Exclusive: Conservative group launches $2M Supreme Court ad

Screengrab of ad, courtesy of Judicial Crisis Network.

The Judicial Crisis Network is launching a $2.2 million ad campaign to put pressure on vulnerable Senate Republicans in battleground states to support a quick confirmation when President Trump announces his Supreme Court nominee.

The big picture: "Follow Precedent," previewed by Axios, is one of the first national and cable television ads to run following Justice Ruth Bader Ginsberg's death Friday.