Apr 12, 2019

Rep. Dave Loebsack retiring in 2020 after 14 years

Photo: Bill Clark/Getty Images

Rep. Dave Loebsack (D-IA) announced he will be retiring when his term ends in 2020, possibly leading to a competitive congressional race in Iowa's 2nd district.

Why this matters: Loebsack has represented Iowa's 2nd Congressional district for 14 years. His district has consistently voted for Democrats, but, in 2016, went for President Trump by 4 percentage points, per Politico. In his statement, Loebsack said he had no intention of being in office for more than 12 years, but "after Donald Trump assumed the presidency, it became apparent that I needed to run for at least one more term in the hopes that I could provide a check on his worst impulses."

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Coronavirus dashboard

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Global: Total confirmed cases as of 10:30 a.m. ET: 1,502,618 — Total deaths: 89,915 — Total recoveries: 339,775 — Map.
U.S.: Total confirmed cases as of 10:30 a.m. ET: 432,554 — Total deaths: 14,829 — Total recoveries: 24,213 — Map.
Business: The Fed will lend up to $2.3 trillion. — Another 6.6 million jobless claims were filed last week
Federal government latest: Congress' $250 billion PPP injection could come too late for some businesses.
Public health latest: Anthony Fauci said social distancing could reduce the death toll to 60,000.
Poll: 1 in 10 Americans believe the economy will never return to normal.
What should I do? Pets, moving and personal health — Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
Other resources: CDC on how to avoid the virus, what to do if you get it.

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Fed will lend up to $2.3 trillion amid coronavirus crisis

Fed Chairman Jerome Powell at a press conference in March. Photo: Eric Baradat/AFP via Getty Images

The Federal Reserve announced Thursday that it will support the coronavirus-hit economy with up to $2.3 trillion in loans to businesses, state and city governments — made possible in part by Treasury funds set aside in the government stimulus package.

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Illustration: Sarah Grillo/Axios

Before the Paycheck Protection Program formally launched last Friday, we knew two things: The rollout would be rocky, and the initial $250 billion wouldn't be enough for America's small businesses.

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