Apr 5, 2017

Republicans' favorite CRA law has a deadline

Before President Trump, the Congressional Review Act (CRA) law — which only requires a simple majority vote to pass resolutions to the previous administration's regulations — had only been used once, by George W. Bush in 2001. Trump has signed 11 resolutions into law under the CRA since Jan. 20, but on April 28 Republicans will no longer be able to pass legislation through the CRA.

The details: A new administration is given 60 legislative days to use the CRA, and it is only allowed to propose resolutions to the previous administration's regulations that were passed in the final 60 legislative days of their tenure.

Quick take: Trump hasn't been able to pass any major bills that he's passionate about, like AHCA, nor has he introduced any major legislation. Using the CRA to pass resolutions into law has afforded the Trump administration numerous (record-setting) small victories, but after its looming deadline they will have to figure out another way.

Why it matters: White House Director of Legislative Affairs Marc Short told reporters during a call Wednesday that the administration is "pulling back the regulatory burden" placed on American taxpayers, and he claimed that the 11 resolutions could save the economy $10 billion over 20 years.

What's next: Two more regulations are pending for them to sign, and there are some that have passed the House and are headed to the Senate, all by April 28 when the window closes.

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Stocks fall 4% as sell-off worsens

A trader on the floor of the New York Stock Exchange. Photo: Johannes Eisele/AFP via Getty Images

Stocks fell more than 4% on Thursday, extending the market’s worst week since the financial crisis in 2008 following a spike in coronavirus cases around the world.

The big picture: All three indices closed in correction territory on Thursday, down over 10% from their recent record-highs amid a global market rout.

Coronavirus updates: California monitors 8,400 potential cases

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

33 people in California have tested positive for the coronavirus, and health officials are monitoring 8,400 people who have recently returned from "points of concern," Gov. Gavin Newsom said Thursday.

The big picture: COVID-19 has killed more than 2,800 people and infected over 82,000 others in some 50 countries and territories. The novel coronavirus is now affecting every continent but Antarctica, and the WHO said Wednesday the number of new cases reported outside China has exceeded those inside the country for the first time.

Go deeperArrowUpdated 1 hour ago - Health

Watchdog opens probe into VA secretary over handling of sexual assault claim

VA Secretary Robert Wilkie on Fox Business Network’s "The Evening Edit" on Jan. 7. Photo: Steven Ferdman/Getty Images

The Department of Veterans Affairs Inspector General Michael Missal said Thursday he had opened an investigation into VA Secretary Robert Wilkie after lawmakers demanded an inquiry into his handling of a sexual misconduct report, the Washington Post reports.

Context: Wilkie allegedly "worked to discredit" the credibility of Democratic aide and veteran Andrea Goldstein after she reported last fall "that a man groped and propositioned her in the main lobby of the agency's D.C. Medical Center," a senior VA official told the Post.