*Trump Waives the Jones Act to Help Puerto Rico
After much controversy, President Trump on Thursday morning finally authorized that a century-old shipping law be waived in order to expedite the delivery of critical supplies to Puerto Rico. The Jones Act requires that all goods shipped between U.S. ports must be carried on ships built, owned, and operated by Americans. Trump initially expressed hesitance to waive the rule, “We have a lot of shippers and a lot of people that work in the shipping industry that don’t want the Jones Act lifted.” On Thursday morning, White House press secretary Sarah Huckabee Sanders announced on Twitter: “At [Puerto Rican governor] @ricardorossello request, @POTUS has authorized the Jones Act be waived for Puerto Rico. It will go into effect immediately.”
The Chinese government announced Thursday that all North Korean firms and joint ventures in China will be closed in compliance with the most recent sanctions against Pyongyang. All North Korean-owned companies have 120 days from the sanctions’ Sept. 11 adoption date to shut down. Nonprofit and non-commercial infrastructure projects approved by the U.N. Security Council will be exempted. The new sanctions, the harshest imposed yet, also ban textile exports and further restricts North Korea’s oil supply. The latest round of sanctions followed the Kim Jong Un regime’s nuclear power test this month, its sixth and most powerful to date.
*GDP Jumped to 3.1% for Second Quarter:
The U.S. economic output grew at an annual rate of 3.1 percent this spring, the highest growth since 2015, according to new Commerce Department figures for the second quarter. However, growth is expected to slow dramatically after the string of fierce hurricanes that slammed Florida, Texas, and Puerto Rico, with economists predicting that storm damage could cause Gross Domestic Product to fall by as much as 1.2 percentage points for the third quarter.
*Rep. Steve Scalise Returns to Capitol Hill
House Majority Whip Steve Scalise, who was at “imminent risk of death” after being shot at a Republican congressional baseball practice in June, is returning to the Capitol on Thursday. The Louisiana congressman is expected to speak on the House floor and participate in morning votes. His office said that while he will be back to work, he will also be “completing an extended period of out-patient rehabilitation over the coming months.”
*LBN-INVESTIGATES: Nearly half of Americans owe no federal income tax at all, but they do pay taxes: payroll taxes to fund Social Security and Medicare, tariffs, excise taxes, corporate taxes, property taxes, sales taxes, state and local income taxes, and so on.
*LBN-VIDEO LINK: Overly Aggressive Gentleman Prank — https://youtu.be/DbTR0EH9-
*‘IT: Chapter 2’ Gets 2019 Release Date
“IT” has become a bona-fide phenomenon since its debut on September 8th, 2017, breaking all box office expectations and shattering records left and right. For New Line and Warner Bros., it’s surely been nothing but celebration. Today the two studios have announced the release date for the sequel to IT as September 6th, 2019, where it will debut in regular theaters and IMAX screens (for those who like to be even more terrified). The movie has revived a sluggish summer box office, and continues to put up big numbers as it becomes the highest-grossing R-rated horror movie in the U.S. ever.
*LBN-A DIFFERENT VIEW:….