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The proposal was pushed through despite the Supreme Court ruling that extends civil rights protections to transgender people. Photo: Erik McGregor/LightRocket via Getty Images

The Trump administration Friday published its proposal that would allow temporary, emergency shelters or other facilities to establish their own policies to exclude transgender people and others based on gender identity.

Why it matters: The policy is part of a broader effort by the Trump administration to weaken protections for transgender people. The White House moved the proposal, introduced earlier this month, forward, despite the Supreme Court ruling that extends civil rights protections to transgender people.

"[Housing and Urban Development] has reconsidered its 2016 Rule and determined that providers should be allowed, as permitted by the Fair Housing Act, to consider biological sex in placement and accommodation decisions in single-sex facilities," the proposal says.

  • "HUD believes that the 2016 Rule impermissibly restricted single-sex facilities in a way not supported by congressional enactment, minimized local control, burdened religious organizations, manifested privacy issues, and imposed regulatory burdens."

What's next: The rule is expected to go into effect after a 60-day comment period.

The bottom line: More than half of transgender people who used a homeless shelter reported they were harassed, according to a 2011 survey by the National Center for Transgender Equality and the National Gay and Lesbian Task Force.

Go deeper: 22 states and D.C. sue HHS over rollback of transgender health care protections

Go deeper

Regulators approve NYSE for direct listings with capital raise

Photo: ANGELA WEISS/AFP via Getty Images

The U.S. Securities and Exchange Commission on Wednesday approved the New York Stock Exchange's rule change that will allow companies to raise new capital as part of a direct listing.

Why it matters: Though there's been growing interest in direct listings, especially from Silicon Valley tech companies, it has not been an appropriate path to going public for many companies that need to raise capital as part of the process.

Trump says he plans to launch new social media network in 2022

Photo: Chris Delmas/AFP via Getty Images

Former President Trump on Wednesday announced plans to launch a social media network called "Truth Social," and that it would go public via a SPAC.

Why it matters: Most ex-presidents are focused on their legacies, by creating presidential libraries or engaging in philanthropic endeavors. Trump, however, remains consumed by social media.

Beauty giant Coty Cosmetics looking to sell its own branded products

Coty Cosmetics CEO Sue Nabi. Photo: Axios on HBO

Coty Cosmetics CEO Sue Nabi tells Axios the beauty giant will “probably” introduce Coty-branded products one day.

Why it matters: Coty produces some of the world’s most popular fragrances, skin care products and color cosmetics on behalf of other well-known brands, but has shied away from producing its own branded products.