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Susan Walsh / AP

In the East Room at 11:30a.m., President Trump will joined by executives from major airlines as he kicks off "infrastructure week" by unveiling his plan to reform the nation's air-traffic control system.

The most consequential provision: privatizing air-traffic control by transferring that power from the FAA to a non-profit entity, funded by user fees, over three years.

Why this matters: Trump is getting behind the single biggest priority of Bill Shuster, the Republican House Transportation and Infrastructure Committee chairman. If Trump delivers this controversial privatization for Shuster, he can expect the chairman's loyalty and support on many of his other infrastructure priorities.

From Trump's plan:

"America's growing aviation system demands a new, independent, non-government organization to operate our Nation's airspace. The new entity should have access to capital markets in order to spur capital investment, technology adoption, and innovation faster, more effectively, and securely. Over the last 20 years, more than 50 countries have already successfully transitioned their ATC operations."

See Trump's principles here.

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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