May 16, 2018

Trump financial report lists reimbursement to Michael Cohen

Michael Cohen, longtime personal lawyer for President Donald Trump. Photo: Drew Angerer/Getty Images

The financial documents President Trump disclosed to the Office of Government Ethics on Wednesday showed that he payed more than $100,000 to his personal attorney, Michael D. Cohen, as reimbursement for payment to a third-party, reports The New York Times.

Why it matters: The report didn’t specify what the payment was for, but Cohen has admitted to paying $130,000 in hush money to Stormy Daniels prior to the 2016 presidential election. The report also seems to confirm the statement made by Trump’s new attorney, Rudy Giuliani, who said during an interview with Fox News' Sean Hannity that Trump had reimbursed Cohen for the payment.

What else we've learned:

  • A footnote in the documents said Cohen had asked for a reimbursement for expenses incurred in 2016 between $100,001 and $250,000, which Trump repaid in full last year, per the Times.
  • The Office of Government Ethics said Trump should have included that payment in the financial disclosure form he filed last year, reports Politico.

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Federal court temporarily halts "Remain in Mexico" program

Migrant wearing a cap with U.S. flagin front of the border between Guatemala and Mexico. Photo: Jair Cabrera Torres/picture alliance via Getty Image

The 9th Circuit Court of Appeals upheld a lower court's earlier injunction on Friday, temporarily stopping the Trump administration from enforcing the Migrant Protection Protocols (MPP) — known as the "Remain in Mexico" policy.

Why it matters: Tens of thousands of migrants seeking asylum have been forced to wait out their U.S. immigration court cases across the border in Mexico under the policy. The Trump administration has long credited this program for the decline in border crossings following record highs last summer.

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Coronavirus updates: WHO raises global threat level to "very high"

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.

The World Health Organization raised its global risk assessment for the novel coronavirus to "very high" Friday, its highest risk level as countries struggle to contain it. Meanwhile, National Economic Council director Larry Kudlow this morning tried to reassure the markets, which continued to correct amid growing fears of a U.S. recession.

The big picture: COVID-19 has killed more than 2,860 people and infected about 83,800 others in almost 60 countries and territories outside the epicenter in mainland China. The number of new cases reported outside China now exceed those inside the country.

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Bernie's plan to hike taxes on some startup employees

Illustration: Sarah Grillo/Axios

Sens. Bernie Sanders (D-VT) and Chris Van Hollen (D-MD) introduced legislation that would tax nonqualified stock options at vesting, rather than at exercise, for employees making at least $130,000 per year.

The big picture: Select employees at private companies would be taxed on monies that they hadn't yet banked.