Apr 21, 2017

Trump's tax order focuses on keeping US jobs

Alayna Treene

Evan Vucci / AP

Treasury Secretary Steve Mnuchin gave a background briefing on the financial services Executive Order and Memorandums Friday that Trump is signing later today.

Tax executive order: The Treasury will review all of the tax regulations going back to the start of 2016, and will cut any regulations that are detrimental to U.S. businesses. The priority is making U.S. corporations more competitive and creating incentives that will deter them from moving abroad. Mnuchin also emphasized that Trump will soon be working with Congress on a comprehensive tax reform package.

Memorandums: The two memorandums encompass "all of the aspects of Dodd-Frank, but go much further," said Mnuchin.

  1. Trump will not direct the Treasury to use their Orderly Liquidation Authority (OLA) unless under extreme circumstances
  2. The Treasury will complete a comprehensive review of the Financial Stability Oversight Council (FSOC)

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Coronavirus updates: Market ends worst week since financial crisis

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 stock market ended its worst week since the financial crisis, prompting the Fed to release a statement. Meanwhile, the WHO warned that countries are losing their chance to contain the novel coronavirus and raised its global risk assessment to "very high" Friday.

The big picture: COVID-19 has killed more than 2,860 people and infected more than 84,000 others in over 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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California coronavirus: Latest case has no recent history of international travel

Gov. Gavin Newsom. Photo: Kevork Djansezian/Getty Images

A new case of the novel coronavirus in California was announced on Friday after Gov. Gavin Newsom said Thursday that 33 people had tested positive for the virus, noting the risk to the public remains low.

What's new: An adult woman with chronic health conditions in Santa Clara County who "did not recently travel overseas" or come into contact with anyone known to be ill was confirmed to have contracted the coronavirus on Friday by CDC and California Department of Public Health officials.

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Big video game conference delayed amid coronavirus concerns

Photo: GDC

Next month's Game Developers Conference in San Francisco became the latest tech event to be cancelled or postponed amid growing concerns over the spread of the novel coronavirus.

The big picture: A growing number of events are being scrapped, including Mobile World Congress and Facebook's F8 developer conference. Some, like the giant SXSW event in Austin, insist they are moving forward.

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