Trump Meets with Transportation Groups, Job Openings Hit Record High
June 07, 2017
The White House invited transportation groups to discuss tax reform. The EPA delayed enforcement for a rule meant to curb ozone pollution. Job openings stand at 6.04 million, the highest ever recorded, while the housing market is shutting out young people.
- The Trump administration is putting a one-year delay on implementation of a major Environmental Protection Agency (EPA) air pollution rule from the Obama administration. The EPA announced the delay in the ozone pollution rule enforcement late. Under the new schedule, the EPA will make final decisions on which areas are out of compliance with the ozone rule by October 2018. [The Hill]
- Trump administration officials met with transportation groups and congressional leaders to discuss tax reform, as the White House works toward its goal of cutting taxes this year. Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn held a listening session with leaders in the transportation sector, including representatives from Airlines for America, the American Association of Railroads, the American Trucking Association, UPS and FedEx. The meeting is one of about a dozen listening sessions with business leaders that the White House plans to hold in the coming months on tax reform. [The Hill]
Economic Indicators & News
- Roughly three million potential first-time home buyers have been shut out of the market over the last decade, according to a new study, suggesting the market’s recovery of the past few years could have been stronger. Tight lending standards and acute shortages of affordable housing in many markets have reduced the pool of potential buyers, particularly among young people, reducing a key component of housing demand. [WSJ]
- The number of U.S. job openings hit a new high in April while hiring slowed, a sign that employers are struggling to find workers. The number of job openings rose by 259,000 to 6.04 million, the Labor Department said Tuesday, the highest level recorded since the government started tracking the figure at the end of 2000. The number of hires, meanwhile, fell by 253,000 to 5.05 million in April. [WSJ]