Mar 9, 2018

Social media ad rules may not be ready before midterms

Photo: Jaap Arriens / NurPhoto via Getty Images

Proposals seeking to thwart foreign influence on U.S. elections by requiring social media companies to disclose who is behind political ads on their platforms may not go into effect in time for this year’s midterm election, the Washington Post reports.

  • The Federal Election Commission's Republican Chairwoman Caroline Hunter said, "the commission has been reluctant to change the rules of the game in the middle of the election season, so that would be something we would want to seriously consider." Vice Chairwoman Ellen Weintraub countered, “Are people really going to say, ‘Oh, it’s too late in the game to run a disclaimer now.' I don’t really buy that.”
  • The details: The FEC delayed a vote on Thursday to advance the proposed rules, per the Post. Commissioners plan to meet next week to present a proposal and begin the public comment process, which Hunter said is "going to take a little bit of time."

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Coronavirus dashboard

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  1. Global: Total confirmed cases as of 10:30 a.m. ET: 1,502,618 — Total deaths: 89,915 — Total recoveries: 339,775Map.
  2. U.S.: Total confirmed cases as of 10:30 a.m. ET: 432,554 — Total deaths: 14,829 — Total recoveries: 24,213Map.
  3. Business: The Fed will lend up to $2.3 trillion. — Another 6.6 million jobless claims were filed last week
  4. Federal government latest: Congress' $250 billion PPP injection could come too late for some businesses.
  5. Public health latest: Anthony Fauci said social distancing could reduce the death toll to 60,000.
  6. Poll: 1 in 10 Americans believe the economy will never return to normal.
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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.

Why it matters: The Fed has taken more action amid the coronavirus outbreak than it has in any other financial crisis in U.S. history in an effort to blunt the effects of the resulting economic shutdown.

DetailsArrowUpdated 26 mins ago - Economy & Business

Senate Democrats block Republicans' $250 billion PPP injection

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.

The state of play: Banks and government officials have been working to smooth out the process. On Thursday, Senate Majority Leader Mitch McConnell's (R-Ky.) attempt to pump another $250 billion into the program via unanimous consent was blocked by Democrats, who are proposing an alternative that includes billions more for hospitals and states.

Go deeperArrowUpdated 27 mins ago - Economy & Business