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Mandel Ngan / AFP via Getty Images

President Trump is proposing a 9% increase in the Environmental Protection Agency's budget from last year’s request, but it’s still a nearly 25% cut from enacted levels.

Why it matters: It's pretty unlikely that Congress will adopt this plan, but it still matters for symbolic reasons — it shows the priorities of the White House. Under Trump, the EPA has seen extreme changes in leadership and focus. EPA Administrator Scott Pruitt has wiped climate change from the agency’s agenda, and moved to roll back a host of regulations on everything from carbon emissions to broader air pollution.

The top-line numbers: EPA’s proposed budget for fiscal year 2019 is $6.146 billion, compared to its roughly current $8 billion budget and a high of $10 billion under former President Obama in 2010, who prioritized aggressive environmental regulations to address climate change and other related issues. Trump proposed $5.7 billion in his first budget proposal laid out last year.

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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