| Hi readers,
CNBC's Kayla Tausche recently returned from a reporting trip to the Rust Belt, where she met with manufacturers who are feeling the effects of the Trump administration's trade policy. In some cases, businesses she spoke with are laying off workers, reducing hours, and idling machines. Since Trump's inauguration, companies have added more than 400,000 manufacturing jobs across the U.S., but that revival reversed sharply this year in four swing states that were key to Trump's election in 2016: Pennsylvania, Ohio, Michigan, and Wisconsin. For a deeper look at how these critical states are weathering the tariff pain, and what this could mean in 2020, check out Kayla's story – and don't miss the video.
This week brought an unexpected match-up: Elizabeth Warren vs. the billionaires. Leon Cooperman, billionaire investor and vocal critic of Warren's wealth tax, appeared on CNBC after sending a letter to the presidential hopeful. "The vilification of billionaires makes no sense to me," Cooperman told CNBC. Warren responded via tweet, saying she's "not afraid to stand up to the wealthy and well connected." Below you can watch the full, at times emotional, interview with Cooperman in which he discusses the political divide in the U.S., and concerns about the American dream.
The world's second-richest person, Bill Gates, also sounded off on Warren's plan saying says that he supports higher taxes for the wealthy, but not through a wealth tax. Gates argued taxing too much could jeopardize the U.S.'s status as the place to build innovative businesses. His comments elicited a Twitter response from Warren, who offered to meet with Gates and explain how much he would pay under her tax plan. Jordan Novet has that story and we've also included a refresher on Warren's tax plans compliments of Robert Frank.
We've got a busy week ahead on Capitol Hill with the start of public impeachment hearings, Fed Chair Powell's testimony, and an antitrust hearing. As always, we'll have a full recap for you next Thursday.
See you next week!
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