Welcome to another edition of FT Now! Some bombshell news out of New
York this week seriously undercuts Gov. Andrew Cuomo's claims that
he's handled the COVID-19 pandemic better than pretty much anyone on
the planet (note the sarcasm). On the topic of COVID, there's even
more evidence that when it comes to jobs, states that had less
restrictive lockdown policies are, unsurprisingly, doing better when it
comes to unemployment. Last but not least, looks like we need to start
bracing ourselves for tax hikes... Read below for more!




NY Undercounted Nursing Home Coronavirus Deaths By As Much As 50%

What Happened:

A bombshell report released on Thursday claims that under Democrat
Governor Andrew Cuomo, New York underreporting COVID-19 nursing home
deaths by as much as 50%.

Why You Should Care:

Gov. Cuomo has refused to accept responsibility for his nursing home
policy in the early months of the pandemic that required them to accept
patients who had the virus. He's acted - and been treated by the media
- as a hero for his handling of the COVID-19 crisis. This report throws
a massive wrench in the Cuomo narrative. As New York Attorney /General
Letitia James said, "it is imperative that we understand why the
residents of nursing homes in New York unnecessarily suffered at such an
alarming rate."

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The Two-Track Jobs Recovery

What Happened:

The Wall Street Journal has a new editorial pointing out that job losses
last month "were largely related to state lockdowns, and jobs are
rebounding rapidly in less restrictive states." Anyone surprised?

Why You Should Care:

Michigan, California, Minnesota, Pennsylvania, and New York posted huge
job losses - almost all of them in the leisure and hospitality
industries, which have been hit hard by lockdown policies. States that
kept their economies more open are doing better. Florida, for instance,
has been heavily criticized by the national media for not following
California and New York. Yet Florida's employment fell only 4.6%,
despite its reliance on tourism and service industries.

What Happens Next:

While Americans are struggling, one can only hope these states take note
and ease up on policies that destroy jobs and livelihoods.

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Commerce Secretary Nominee Remains Open To Funding Biden's Climate
Agenda With Tax Hikes On The Middle Class

What Happened:

During her confirmation hearing this week, Commerce Secretary Nominee
and Rhode Island Democrat Governor Gina Raimondo said the Biden
Administration "needs funds" to pay for their climate agenda.

Why You Should Care:

"Needs funds" means "higher taxes" in Democrat speak. Hide your wallets!
Note that Transportation Secretary nominee Pete Buttigieg also said he
was open to raising the gas tax.

What Happens Next:

Looks like higher taxes are on the horizon.

LEARN MORE

Thank you for reading this week's edition of FT Now.

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