WTF Just Happened Today

Thursday, June 3, 2021

Subscribe: Get the Daily Update in your inbox for free

1/ Confirmed coronavirus cases in the U.S. have fallen to the lowest level since March 2020, when the pandemic began. The U.S. averaged roughly 16,860 new cases per day over the past week, and new cases declined in 43 states, while holding steady elsewhere. (NBC News / Axios)

2/ Unemployment claims fell below 400,000 for the first time since March 2020. 385,000 people, however, filed for first time unemployment benefits last week, and continuing claims rose by 169,000 to 3.77 million. (CNBC)

3/ The Biden administration outlined its plan for donating an initial 25 million Covid-19 vaccine doses to help low- and middle-income nations combat the pandemic. The U.S. will distribute about 75% of the doses through the global vaccine aid program COVAX, with the remaining 25% being sent directly to allies and “regional priorities,” including Mexico, Canada, West Bank and Gaza, Ukraine, Egypt, and Iraq. Overall, the White House plans to donate 80 million doses by the end of June, mostly through COVAX. (Politico / New York Times / Associated Press / ABC News)

4/ Biden’s latest infrastructure counteroffer would keep Trump’s 2017 tax cuts intact in exchange for $1 trillion in new spending on top of the $400 billion in baseline spending already approved for infrastructure needs. Instead of paying for the American Jobs Plan by raising the corporate tax rate from 21% to 28%, the bipartisan infrastructure package would be financed through a 15% minimum tax on U.S. corporations and other tax proposals, including beefing up IRS audits and tax enforcement on the wealthy. White House press secretary Jen Psaki said Biden was “absolutely not” abandoning efforts to raise the corporate rate to 28%, adding that it’s a way to “pay for a range of the bold proposals that he has put forward.” Biden has already reduced the cost of his American Jobs Plan to $1.7 trillion from $2.25 trillion. Republicans, meanwhile, have upped their offer to $928 billion from $586 billion, but their proposal only includes roughly $257 billion in new spending on top of the current $400 billion in projected federal spending. Biden wants at least $1 trillion over current levels. (Washington Post / USA Today / New York Times / Bloomberg / Wall Street Journal / Politico)

5/ The FBI is investigating Postmaster General Louis DeJoy for potential violation of campaign finance law. The investigation focuses on