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Trump's promise to donate profits from foreign governments that use his hotels straight to the U.S. Treasury has a whole host of problems. A quick summary, per the AP:

  • His promise is limited to hotels, ignoring his golf courses and other properties.
  • Foreign governments might not issue payments themselves, so what happens if there's a third-party?
  • "Profit" — like "deals" in Trumpspeak — is not a defined term. Profit on what? Rooms? Rentals? For what period of time?
  • Trump and his lawyers have neglected to explain how exactly he plans on disclosing these donations.

From an expert: Steven Carvell, a Cornell University School of Hotel Administration professor: "It's a monumental task to constantly run this down. Even if the company is trying its hardest and making its very best effort, it will be difficult to fulfill that goal."

Go deeper

Federal Reserve expands lending program for small businesses

Federal Reserve Chairman Jerome Powell at a news conference in 2019. Photo: Eric Baradat/AFP via Getty Images

The Federal Reserve said on Friday it would again lower the minimum loan size for its pandemic-era small business program.

Details: Businesses and nonprofits will be able to borrow a minimum of $100,000 from the facility, down from $250,000 — a move that might attract smaller businesses that don't need as hefty of a loan. Since the program launched earlier this year, the minimum loan size has been reduced twice.

2 hours ago - Economy & Business

How Trump and Biden would steer the future of transportation

Illustration: Eniola Odetunde/Axios

President Donald Trump and Democratic challenger Joe Biden would likely steer automotive policy in different directions over the next four years, potentially changing the industry's road map to the future.

Why it matters: The auto industry is on the cusp of historic technological changes and the next president — as well as the next Congress — could have an extraordinary influence on how the future of transportation plays out.

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