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    Hunter Biden Charged With Evading Taxes on Millions From Foreign Firms

    The Justice Department charged President Biden’s son after a long-running and wide-ranging investigation with substantial political repercussions.A federal grand jury charged Hunter Biden on Thursday with a scheme to evade federal taxes on millions in income from foreign businesses, the second indictment against him this year and a major new development in a case Republicans have made the cornerstone of a possible impeachment of President Biden.Mr. Biden, the president’s son, faces three counts each of evasion of a tax assessment, failure to file and pay taxes, and filing a false or fraudulent tax return, according to the 56-page indictment — a withering play-by-play of personal indulgence with potentially enormous political costs for his father.The charges, filed in California, came five months after he appeared to be on the verge of a plea deal that would have avoided jail time and potentially granted him broad immunity from future prosecution stemming from his business dealings. But the agreement collapsed, and in September, he was indicted in Delaware on three charges stemming from his illegal purchase of a handgun in 2018, a period when he used drugs heavily and was prohibited from owning a firearm.The tax charges have always been the more serious element of the inquiry by the special counsel, David C. Weiss, who began investigating the president’s son five years ago as the Trump-appointed U.S. attorney for Delaware. Mr. Weiss was retained when President Biden took office in 2021.Mr. Biden “engaged in a four-year scheme to not pay at least $1.4 million in self-assessed federal taxes he owed for tax years 2016 through 2019,” Mr. Weiss wrote.“Between 2016 and Oct. 15, 2020, the defendant spent this money on drugs, escorts and girlfriends, luxury hotels and rental properties, exotic cars, clothing, and other items of a personal nature, in short, everything but his taxes,” he added.If convicted, he could face a maximum of 17 years in prison, Justice Department officials said.Read the Tax Indictment Against Hunter BidenThe president’s son was indicted on nine counts accusing him of evading federal taxes on millions of dollars he has made in his work with foreign companies.Read Document 56 pagesThe charges, while serious, were far less explosive than ones pushed by Mr. Trump and congressional Republicans, who have been angry with the department for failing to find wider criminal wrongdoing by the president’s son and family.But the failure of Mr. Biden’s lawyers to reach a new settlement after talks with Mr. Weiss fell apart has now subjected Mr. Biden to the perils of two criminal proceedings in two jurisdictions, with unpredictable outcomes.Many of the facts laid out in Thursday’s indictment were already widely known, and the litany of Mr. Biden’s actions tracks closely with a narrative he drafted with prosecutors in the plea deal that collapsed over the summer under the withering scrutiny of a federal judge in Delaware.Prosecutors said that he “subverted the payroll and tax withholding process of his own company,” Owasco PC, by withdrawing millions from the coffers that he used to subsidize “an extravagant lifestyle rather than paying his tax bills.” They also accused him of taking false business deductions.Mr. Weiss called out Mr. Biden for failing to pay child support and his reliance on associates, including the Hollywood lawyer Kevin Morris, to pay his way. Prosecutors included a chart that tracked the cash he siphoned from Owasco’s coffers — $1.6 million in A.T.M. withdrawals, $683,212 for “payments — various women,” nearly $400,000 for clothing and accessories, and around $750,000 for restaurants, health and beauty products, groceries, and other retail purchases.Throughout the document, Mr. Weiss presented an unflattering split-screen of Mr. Biden, scooping up millions in income and gifts from friends while stubbornly refusing to pay his taxes. That pattern even persisted into 2020, after he had borrowed money to pay off his tax liabilities from the previous few years, prosecutors wrote.“Defendant spent $17,500 each month, totaling approximately $200,000 from January through Oct. 15, 2020, on a lavish house on a canal in Venice Beach, Calif.,” they wrote, adding that “the I.R.S. stood as the last creditor to be paid.”In a statement, Abbe Lowell, Mr. Biden’s lawyer, said Mr. Weiss had “bowed to Republican pressure” and accused him of reneging on their previous agreement. He said the special counsel had not responded to his request for a meeting a few days ago to discuss the details of the case.“If Hunter’s last name was anything other than Biden, the charges in Delaware, and now California, would not have been brought,” he said.The indictment includes a more detailed description of Mr. Biden’s activities and tangled business deals than the government had previously made public. Taken in its totality, the filing paints a damning portrait of personal irresponsibility by a man who leveraged his last name to finance his vices while willfully ignoring his tax liabilities.The Hunter Biden case sits at the crowded intersection of America’s colliding political and legal systems. There is now a very real prospect that President Biden’s son will be defending himself in two federal criminal trials during a presidential election year — as former President Donald J. Trump, his father’s likely opponent, confronts the possibility of two federal criminal trials in his classified documents and election interference cases.The additional charges come on the cusp of a vote by the Republican-led House to formalize its impeachment inquiry into President Biden, which is largely based on unsubstantiated allegations that he benefited from his son’s lucrative consulting work for companies in Ukraine and China.Republican leaders in the House released draft text of a procedural impeachment resolution against President Biden on Thursday, just hours before word of the new charges started to percolate through official Washington. It is not clear what effect the indictment will have on their inquiry.The indictment contains no reference to President Biden. But prosecutors pointed out that Hunter Biden’s compensation from Burisma, a Ukrainian energy company, dropped from $1 million a year in 2016, when his father was still in office, to $500,000 in March 2017, two months after he left office.The decision to indict the president’s troubled son was an extraordinary step for Mr. Weiss, who was named a special counsel in August by Attorney General Merrick B. Garland.The Justice Department has been investigating Mr. Biden since at least 2018. Despite examining an array of matters — including Hunter Biden’s work for Burisma, ties to oligarchs and business deals in China — the investigation ultimately narrowed to questions about his taxes, like his failure to file his 2017 and 2018 returns on time, and the gun purchase.The special counsel, David C. Weiss, has been investigating an array of issues surrounding Hunter Biden.Will Oliver/EPA, via ShutterstockThe investigation appeared to have come to a conclusion in June when Mr. Weiss and Mr. Biden’s lawyers announced that Mr. Biden would plead guilty to two misdemeanor tax charges.As part of the deal, prosecutors charged Mr. Biden with lying about whether he was using drugs but, under a so-called pretrial diversion agreement, agreed not to prosecute Mr. Biden on that. In return, Mr. Biden agreed to admit that he had used drugs at the time of the purchase and the deal remained contingent on him remaining drug free for the next two years.But the deal abruptly imploded.At a hearing in July, Judge Maryellen Noreika of the Federal District Court in Wilmington, Del., sharply questioned elements of the deal, telling the two sides repeatedly that she had no intention of being “a rubber stamp.”One objection centered on a provision that would have offered Mr. Biden broad insulation against further prosecution on matters under scrutiny during the federal inquiry. Mr. Weiss’s prosecutors and Mr. Biden’s lawyer at the time, Christopher J. Clark, disagreed on whether that shielded him from being prosecuted in connection with his foreign business dealings.The other objection had to do with the diversion program on the gun charge, under which the judge would play a role in determining whether Mr. Biden was meeting the terms of the deal.Judge Noreika said she was not trying to sink the agreement, but to strengthen it by ironing out ambiguities and inconsistencies. But by the end, the sides had splintered, prosecutors filed paperwork indicating they would proceed with a prosecution and the embattled Mr. Weiss requested to be named special counsel, which requires him to file a report at the conclusion of the investigation.Since taking control of the House in January, top Republicans have used their new investigative power to push the narrative that the president has been complicit in an effort engineered by Hunter Biden to enrich his family by profiting from their positions of power, especially through business and investment transactions abroad.The investigation has become a central focus of House Republicans, and of Mr. Trump, who has seized upon it as a counter to his own legal woes. Earlier this year, two former I.R.S. agents who worked on the investigation testified before a House committee that they had been discouraged from fully investigating interactions of Hunter Biden and his father, and that Mr. Weiss had complained that he did not have the authority to expand the investigation to other jurisdictions.Mr. Weiss denied those claims.On Thursday, Representative James R. Comer of Kentucky, the chairman of the House oversight committee, credited the “two brave I.R.S. whistle-blowers” for forcing Mr. Weiss to abandon plea negotiations and file charges.“The Department of Justice got caught in its attempt to give Hunter Biden an unprecedented sweetheart plea deal,” Mr. Comer said in a statement, adding that the men should be applauded “for their courage to expose the truth.”Luke Broadwater More

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    Should Biden Really Run Again? He Prolongs an Awkward Conversation.

    The president and his team have waved away Democrats’ worries about his bid for another term. But this week, he has drawn new attention to the question of what is best for the party.President Biden has a way of explaining away his gaffes that can let him defuse the situation without causing himself long-term political damage.“No one ever doubts I mean what I say,” he often says. The problem, he admits, is that “sometimes I say all that I mean.”So it went this week when Mr. Biden told donors on Tuesday night near Boston that “I’m not sure I’d be running” if former President Donald J. Trump were not trying to reclaim the Oval Office.It was a forehead-slapping moment for a president whose drooping approval ratings have forced him to turn his re-election campaign into a referendum on his predecessor, and a reminder that the political forecast for the next 11 months suggests America will be inundated with two candidates most of the country doesn’t want.Within hours, Mr. Biden walked back the sentiment. After returning to the White House, he approached reporters and said he wouldn’t drop out of the race even if Mr. Trump did so.Then came Wednesday.After delivering a speech urging Congress to pass a multibillion-dollar aid package for Ukraine, Mr. Biden walked away and reporters shouted questions at him.One grabbed his attention: Could any other Democrat defeat Mr. Trump?The president could have left and closed the door. The chatter about his 2024 decision would have been put to bed, at least for this week. But he could not resist. Once again, he reminded America why Democratic allies, and not Mr. Biden himself, are often viewed as his best messengers.“Probably 50” Democrats could beat Mr. Trump, he said. Then, seeming to laugh off his remark with a wry smile, he added, “I’m not the only one who could defeat him, but I will defeat him.”Whether Mr. Biden was joking, or again accidentally saying all that he meant, is for him to know. But his perhaps-too-candid moments, combined with many voters’ dissatisfaction about his performance, have worked to undercut his rationale for running — that he is the indispensable Democrat best positioned to keep Mr. Trump out of the White House, protect democracy and retain the “soul of America.”If he’s not indispensable, it opens the door to an uncomfortable question from skeptics in his party: Why not let some other Democrat have a chance to run for president?The reasons Mr. Biden is running again are fairly obvious. He considered a presidential bid in 1984, mounted his first White House campaign four years later, served for eight years as Barack Obama’s vice president, wanted to run in 2016 and finally won the nation’s top office in 2020.People who think about running for president for 36 years tend not to give up the White House without a fight. No president since Rutherford B. Hayes has served the four full years of his first term and then declined to run again.Mr. Biden had left some Democratic voters under the impression that he might gracefully step aside: During his 2020 campaign, he stood on a Detroit stage with three next-generation Democrats — Senator Kamala Harris of California, Senator Cory Booker of New Jersey and Gov. Gretchen Whitmer of Michigan — and said, “I view myself as a bridge, not as anything else.”But his own ambition and the enormous political advantage of incumbency always suggested he would seek to remain president into his mid-80s.Former Senator Barbara Boxer of California, a devoted Biden supporter who has known him since the early 1980s, said voters she heard from in Southern California were far more interested in stopping Mr. Trump from returning to power than they were worried about Mr. Biden’s age or competence.“They say, ‘We’ve got to win this,’” Ms. Boxer said. “They don’t talk so much about Joe. They say our democracy is on the line. They just assume it will be Joe.”Ron Klain, Mr. Biden’s first chief of staff, allowed in an interview on Thursday that “it is possible that there are other Democrats in America who could beat Trump.” But because Mr. Biden is the only one to have actually done it, Mr. Klain said, he has the best chance to do so again. Mr. Klain said he did not know who the 50 Democrats mentioned by Mr. Biden were.“This is a life-or-death moment for democracy, and we need someone who has beaten Trump before,” Mr. Klain said.Kevin Munoz, a Biden campaign spokesman, dismissed any close reading of Mr. Biden’s latest comments. The campaign, Mr. Munoz said, would not be “distracted by the same Beltway narratives that President Biden has proven wrong for years.”And Mr. Biden’s latest verbal adventures didn’t exactly prompt a reckoning in Democratic politics. Most simply rolled their eyes at his struggle to keep the political conversation on favorable terrain — especially during a week in which Mr. Trump pledged not to be a dictator “except for Day 1.”“He’s one of the most honest people you’re ever going to meet in terms of expressing what he is feeling at the moment,” former Senator Tom Daschle of South Dakota said of Mr. Biden, with whom he served for 18 years in the Senate. “There isn’t a politician alive that hasn’t wanted to reframe things. We all do it.”Mr. Trump, at age 77, has not exactly been a smooth operator himself. He has long strayed off message, and has his own growing record of verbal slips. He has confused Mr. Biden with Mr. Obama, suggested America is on the verge of entering World War II, praised Hezbollah, the Iranian-backed militant group, and told supporters not to worry about voting.David Axelrod, the Democratic strategist who helped choose Mr. Biden to be Mr. Obama’s running mate in 2008, said it was understood at the time that Mr. Biden’s occasional deviation from the prescribed political script was part of the package.He said Mr. Biden’s gaffes gave him an authenticity in the minds of voters that other veteran Washington politicians lacked, even if they caused a few headaches for Mr. Obama and his aides.“Joe Biden has been a guy who has spoken his mind for 50 years in politics,” said Mr. Axelrod, who has repeatedly suggested that the president’s age will be a top concern for voters in 2024. “Sometimes that’s gotten him into some hot water, but it’s also part of a whole package of a guy who is authentic and willing to say exactly what he’s thinking.” More

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    Inside Donald Trump’s Dominance of a Primary He Wasn’t Supposed to Win

    Listen and follow ‘The Run-Up’Apple Podcasts | Spotify | AmazonDoug Mills/The New York TimesThere was a moment in early 2023 when Donald Trump seemed like a politician in decline.And it wasn’t just his political opponents who thought so. National Republicans, who blamed Mr. Trump for the party’s run of bad results in the midterms, largely agreed.But now it’s starting to set in: It appears the former president’s staying power was underestimated … again. Mr. Trump is the overwhelming favorite to be the Republican presidential nominee — and his supporters remain the most influential force in the party’s politics.This week, through conversations at an event with South Carolina Republicans, we try to understand why the party continues to back an embattled Mr. Trump — and how it came to feel as though this primary ended before it even began. Then, Astead talks with Jonathan Swan, a New York Times political reporter, about how the Trump team has approached this campaign with discipline and strategy, and what it is planning should he win back the White House.About ‘The Run-Up’“The Run-Up” is your guide to understanding the 2024 election. Through on-the-ground reporting and conversations with New York Times colleagues, newsmakers and voters across the country, our host, Astead W. Herndon, takes us beyond the horse race to explore how we got to this unprecedented moment in American politics. New episodes on Thursdays.Credits“The Run-Up” is hosted by More

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    Why Our “Great” Economy Is Making Young Americans Grumpy

    As a part-time commentator on things economic, I’m often asked a seemingly straightforward question: If the economy is so good, why are Americans so grumpy?By many measures — unemployment, inflation, the stock market — the economy is strong. Yet only 23 percent of Americans believe the country is headed in the right direction, a strong headwind for President Biden’s approval ratings. Meanwhile, Donald Trump’s formidable base of disgruntled voters endures.As I’ve engaged with my many interlocutors, I’ve concluded that voters have valid reasons for their negativity. In my view, blame two culprits: one immediate and impacting everybody, and another that particularly affects young people and is coming into view like a giant iceberg. Both sit atop the leaderboard of reasons for the sour national mood.While inflation has provided the proximate trigger for unhappy feelings, an understandable grimness about our broader economic prospects, particularly for younger Americans, is playing a major part. We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More

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    ‘This Is Grim,’ One Democratic Pollster Says

    The predictive power of horse-race polling a year from the presidential election is weak at best. The Biden campaign can take some comfort in that. But what recent surveys do reveal is that the coalition that put Joe Biden in the White House in the first place is nowhere near as strong as it was four years ago.These danger signs include fraying support among core constituencies, including young voters, Black voters and Hispanic voters, and the decline, if not the erasure, of traditional Democratic advantages in representing the interests of the middle class and speaking for the average voter.Any of these on their own might not be cause for alarm, but taken together they present a dangerous situation for Biden.From Nov. 5 through Nov. 11, Democracy Corps, a Democratic advisory group founded by Stan Greenberg and James Carville, surveyed 2,500 voters in presidential and Senate battleground states as well as competitive House districts.In an email, Greenberg summarized the results: “This is grim.” The study, he said, found that collectively, voters in the Democratic base of “Blacks, Hispanics, Asians, LGBTQ+ community, Gen Z, millennials, unmarried and college women give Trump higher approval ratings than Biden.”On 32 subjects ranging from abortion to China, the Democracy Corps survey asked voters to choose which would be better, “Biden and the Democrats” or “Trump and the Republicans.”Biden and the Democrats led on six: women’s rights (ahead by 17 points), climate change (15 points), addressing racial inequality (10 points), health care (3 points), the president will not be an autocrat (plus 2) and protecting Democracy (plus 1). There was a tie on making democracy more secure.Donald Trump and the Republicans held leads on the remaining subjects, including being for working people (a 7-point advantage), standing up to elites (8 points), being able to get things done for the American people (12 points), feeling safe (12 points) and keeping wages and salaries up with the cost of living (17 points).In the case of issues that traditionally favor Republicans, Trump and his allies held commanding leads: patriotism (11 points), crime (17 points), immigration (20 points) and border security (22 points).Particularly worrisome for Democrats, who plan to demonize Trump as a threat to democracy, are the advantages Trump and Republicans have on opposing extremism (3 points), getting beyond the chaos (6 points) and protecting the Constitution (8 points).There is some evidence in both the Democracy Corp survey and in other polls that concerns specific to Biden — including his age and the surge in prices during his presidency — are driving the perception of Democratic weakness rather than discontent with the party itself.The survey found, for example, that Democratic candidates in House battleground districts are running even with their Republican opponents among all voters, and two points ahead among voters who say they are likely to cast ballots on Election Day.Along similar lines, a November 2023 NBC News poll found Trump leading Biden by two points, 46-44, but when voters were asked to choose between Trump and an unnamed Democratic candidate, the generic Democrat won 46-40.In a reflection of both Biden’s and Trump’s high unfavorability ratings, NBC reported that when voters were asked to choose between Biden and an unnamed generic Republican, the “Republican candidate” led Biden 48-37.Other nonpartisan polls describe similar Democratic weaknesses. A September Morning Consult survey found, for example, that “voters are now more likely to see the Republican Party as capable of governing, tackling big issues and keeping the country safe compared with the Democratic Party” and that “by a 9-point margin, voters also see the Democratic Party as more ideologically extreme than the G.O.P.”In the main, according to Morning Consult, these weaknesses result from declining confidence within Democratic ranks in their own party, rather than strong support for Trump and the Republican Party: “The trends against the Democratic Party are largely driven by worsening perceptions among its own voter base, which suggests that the party will have to rely more than ever on negative partisanship to keep control of the White House.”Morning Consult posed the same set of questions to voters about the political parties in 2020 and again this year in order to track shifting voter attitudes.Asked, for example which party is more “capable of governing,” 48 percent of voters in 2020 said the Democrats and 42 percent said the Republicans. This year, 47 percent said the Republicans and 44 percent said the Democrats.Similar shifts occurred on the question of which party will “keep the nation safe” and which party can “tackle the big issues.”In what amounts to a body blow to Biden and his Democratic allies, Republicans are now virtually tied with Democrats on a matter that has been a mainstay of Democratic support since the formation of the New Deal coalition during the Great Depression. A September 2023 NBC News survey “found that 34 percent of voters believe Republicans are better at looking out for the middle class, while 36 percent say the same of Democrats. The 2-point margin in favor of Democrats is the lowest it has been in the history of the poll.”“Democrats have held over 30 years as high as a 29-point advantage as being the party better able to deal with and handle issues of concern to the middle class, ” Bill McInturff, a partner in the Republican firm Public Opinion Strategies, which joined with the Democratic firm Hart Research to conduct the NBC poll, told me.Neil Newhouse, who is also a partner at Public Opinion Strategies, emailed me to say that the opinion trends among Black and Hispanic voters “are figures G.O.P.’ers could only dream about a few years ago.”Although many of those with whom I discussed the data voiced deep concern over Biden’s prospects, let me cite a couple of experts who are more optimistic.Simon Rosenberg, a veteran Democratic operative and former president of the New Democratic Network, emailed me a series of bullet points:The last four presidential elections have gone 51 percent-46 percent Democratic, best run for Dems since F.D.R.’s elections. Only 1 R — George W. Bush 2004 — has broken 48 percent since the 1992 election, and Dems have won more votes in seven of last eight presidential elections. If there is a party with a coalition problem, it is them, not us.Our performance since Dobbs remains remarkable, and important. In 2022 we gained in AZ, CO, GA, MI, MN, NH, PA over 2020, getting to 59 percent in CO, 57 percent in PA, 55 percent in MI, 54 percent in NH in that “red wave” year. This year we’ve won and outperformed across the country in every kind of election, essentially leaving this a blue wave year.We got to 56 percent in the WI SCOTUS race, 57 percent in Ohio, flipped Colorado Springs and Jacksonville, flipped the VA House, Kentucky Governor Andrew Beshear grew his margin, we won mayoralties and school board races across the United States. Elections are about winning and losing, and we keep winning and they keep losing.In a recent post on his Substack, “Why I Am Optimistic About 2024,” Rosenberg elaborated:Opposition and fear of MAGA is the dominant force in U.S. politics today, and that is a big problem for super-MAGA Trump in 2024. Fear and opposition to MAGA has been propelling our electoral wins since 2018, and will almost certainly do so again next year.Alex Theodoridis, a political scientist at the University of Massachusetts-Amherst, expressed similar optimism concerning Biden’s chances: “Once Democrats come to terms with the fact that Biden will be the nominee (and, more importantly, that Trump will in all likelihood be the G.O.P. nominee), a lot of the internal malaise expressed in current polls should dissipate.”When Biden begins campaigning in earnest, Theodoridis wrote,He will likely still come across as relatively competent and steady. And, while Trump always looms over G.O.P. politics, we will certainly see more coverage of him as G.O.P. nominee to remind less engaged Democrats and the few true independents that he is a deeply flawed figure who has and would again pose a real threat to our Republic.When voters finally make up their minds, Theodoridis predicted, “The anti-MAGA, pro-democracy, pro-reproductive-rights message that has boosted turnout and served Democratic candidates well the last two Novembers will likely do so again.”Jim Kessler, a senior vice president of Third Way, a Democratic think tank, is nowhere near as confident in Democratic prospects as Rosenberg and Theodoridis are. In an email, Kessler observed that polls at this time need to be taken with a grain of salt — remarking that in 1991, George H.W. Bush appeared to be the prohibitive favorite to win a second term and that in 2011, Mitt Romney was well ahead of President Barack Obama.In addition, Kessler wrote, in the past month,The price of gasoline has fallen 20 cents to a national average of $3.24 a gallon. Headline and core inflation have begun their final descent toward benign, historic levels. Interest rates have fallen about 40 basis points in the past several months. The so-called “misery index” (inflation + unemployment rate) could very well be at a level that is incumbent friendly.That said, Kessler continued, there are clear danger signs:Biden won in 2020 because he was perceived as having a more positive brand than the Democratic Party. That brand advantage over the Democratic Party is now gone. Exhibits A and B are crime and immigration. In 2020, Biden was perceived as tougher on crime and the border than the typical Democrat.In one primary debate, Kessler pointed out,Biden was the only candidate onstage not to raise his hand on a question that essentially could be interpreted as wanting open borders. He also loudly and repeatedly voiced his opposition to “defund the police” and never ran away from the 1994 crime bill that he authored in the Senate.That, in Kessler’s view, “is not the Joe Biden voters are hearing today. Voters actually hear almost nothing from the administration on crime or the border, and this allows the opposition to define them on an issue of great salience.”Biden, Kessler argued, has a credible record on tougher border enforcement and cracking down on crime, but he and other members of the administration don’t promote itbecause these are issues on which our active, progressive base is split. But if you are silent on these issues, it is like an admission of guilt to voters. They believe you do not care or are dismissive of their very real concerns. That means Biden must accept some griping from the left to get this story out to the vast middle.Will Marshall, president and founder of the center-left Public Policy Institute think tank, responded to my query with an emailed question: “Trump is Kryptonite for American democracy, so why isn’t President Biden leading him by 15 points?”Marshall’s answer:Biden’s basic problem is that the Democratic Party keeps shrinking, leaving it with a drastically slender margin of error. It’s losing working class voters — whites — by enormous, 30-point margins — but nonwhites without college degrees are slipping away too.The ascendance of largely white, college-educated liberals within party ranks, in Marshall’s view, haspushed Democrats far to the dogmatic left, even as their base grows smaller. Young progressives have identified the party with stances on immigration, crime, gender, climate change and Palestinian resistance that are so far from mainstream sentiment that they can even eclipse MAGA extremism.“Democrats,” Marshall wrote, in a line of argument similar to Kessler’s,have been aiming at the wrong target and have less than a year to adjust their sights. That means putting high prices and living costs front and center, embracing cultural pragmatism, confronting left-wing radicalism on the border, public safety and Israel and embracing a post-populist economics that speaks to working Americans’ aspirations for growth and upward mobility rather than their presumed sense of economic victimhood.Jacob Hacker, a political scientist at Yale, contended that the view of Biden and the Democratic Party as elitist and weak on the very values that were Democratic strengths in the past lacks foundation in practice. Instead, the adverse portrait of the Democrats represents a major success on the part of right-wing media — and a complicit mainstream media — in creating a false picture of the party.In a forthcoming paper, “Bridging the Blue Divide: The Democrats’ New Metro Coalition and the Unexpected Prominence of Redistribution,” Hacker said he and three colleagues found thatDemocrats have not changed their orientation nearly as much as critics of the party argue. In particular, the party has not shifted its emphasis from economic to social/identity issues, nor has it moderated its economic positions overall. Instead, it has placed a high priority on an ambitious economic program that involves a wider range of policy aims and instruments than in the past (including industrial policy and pro-labor initiatives as well as social and health policies and public investments) as well as levels of public spending that dwarf those contemplated by party elites in at least a half century.Why then, Hacker asked, is “the Democratic Party widely perceived to have abandoned pocketbook politics in favor of identity politics?”His answer:Conservative media have relentlessly focused on this critique and there’s strong evidence that media framing shapes how voters view the parties. Indeed, the role of the media in shaping the negative current climate — including more mainstream sources — should not be neglected. The obsessions of right-wing media with the “wokeness” of the Democratic Party seeps into the broader media coverage, and mainstream sources focus on criticisms of the Democrats, in part to uphold their nonpartisan ideal.Ryan Enos, a political scientist at Harvard, warned that there are major consequences that could result from the weakness of Biden’s support. In an email, Enos wrote:There is no doubt that Democrats and — given that the likely Republican nominee is a would-be authoritarian — Americans more generally should be alarmed by Biden’s poll numbers. He is saddled with the need to dig economic perceptions out of a deep inflationary hole, an unsteady international world and the view that his party went too far to the left on social issues.If the election were held today, Enos argued, “Biden would likely lose.”During the campaign, “Biden’s numbers will improve,” Enos wrote, but Biden faces a large number of idealistic young voters who maynever come back to him because they believe that he has abandoned the core values that animated their support in the first place. Faced with the reality of surging immigration across the southern border, Biden has largely failed to liberalize his administration’s approach to immigration — in fact, he has left much of the Trump era policies in place. To many young voters, who were first attracted to Biden’s social progressivism, such moves may feel like a betrayal. Additionally, Biden has seemed to greenlight Israel’s campaign of violence against civilians in Gaza. Especially for young voters of color, this seems like a betrayal and could cost Biden crucial states such as Michigan.Jonathan Weiler, a political scientist at the University of North Carolina-Chapel Hill, stands somewhere between Rosenberg and Marshall.“There’s no gainsaying Biden’s poor polling numbers at the present,” Weiler wrote by email:However unhinged Trump appears increasingly to be, for now that’s an abstraction for many voters. In the meantime, what they see in ways that feel up close and personal are signs of an unsettled and unsettling world impinging on their day to day lives, including inflation, higher crime and a big increase in migrants across our southern border and into cities around the United States.On the plus side for Biden, Weiler wrote, “the data show clearly that inflation is trending substantially downward.” In addition,Violent crime has returned to prepandemic levels. Americans always think crime is going up, no matter what the data say. But if the actual drop in crime results in people thinking about it less, that could also lessen people’s sense of a chaotic and unsettled reality.Rogers Smith, a political scientist at the University of Pennsylvania, made the case that Biden’s age and his visible infirmities interfere with his ability to reassure the electorate:The biggest factor that is neglected in many polls is the widespread belief that Biden is simply too old and insufficiently vigorous to remain president for four more years. This belief is reinforced by the reality that Biden does not inspire confidence in his vigor or energy in most of his public presentations. The problem is particularly acute among young voters but goes throughout the electorate, Democrats and Republicans alike. It means that voters don’t give much weight to Biden’s arguments on the issues.Democrats are trapped, Smith maintained:None will challenge Biden; he must choose to step aside. If he did so, he would feel compelled to support Kamala Harris. But most Democrats, and probably Biden himself, rightly believe that she would do even worse than he is doing.The one ace in the hole for Democrats is Donald Trump himself. As the center of attention in the elections of 2018, 2020 and even 2022, Trump was the key to Democratic victory. Trump is doing all he can to become the focus in 2024, but the question remains whether the Democrats, with Biden at the top of the ticket, can successfully demonize him again.The Times is committed to publishing a diversity of letters to the editor. We’d like to hear what you think about this or any of our articles. Here are some tips. And here’s our email: letters@nytimes.com.Follow the New York Times Opinion section on Facebook, Instagram, TikTok, X and Threads. More

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    Big Donors Rally Around Nikki Haley

    The former governor of South Carolina is winning support from some Democrats and business-minded conservatives as the G.O.P. candidate who can beat Donald Trump.Nikki Haley is beginning to gain in the polls and has won financial backing from donors such as Reid Hoffman, the LinkedIn co-founder and Democratic donor, and the Koch brothers.Maansi Srivastava/The New York TimesA bipartisan boost for HaleyAs the four remaining prominent Republican presidential contenders not named Donald Trump assemble for the latest G.O.P. primary debate tonight, just one will arrive with any sort of positive momentum.Nikki Haley is gaining traction as the leading anti-Trump Republican, particularly among Democrats and business-minded conservatives alike. But growing support from elites may not be enough to help her catch the former president.Reid Hoffman recently donated $250,000 to a super PAC supporting Haley. The LinkedIn co-founder and a major Democratic donor has funded an array of anti-Trump initiatives. His donation, first reported by The Times, is the latest sign that some Democrats see bolstering Haley as the best way to beat Trump.News of Hoffman’s contribution came after Jamie Dimon, JPMorgan Chase’s C.E.O., urged liberals to back Haley. “Get a choice on the Republican side that might be better than Trump,” he said at the DealBook Summit last week. That’s on top of growing support from business-minded Republicans. The political network founded by Charles and David Koch recently endorsed Haley, and deep-pocketed donors including Stanley Druckenmiller and Andy Sabin have attended fund-raising events for her.A reality check: Despite skipping all of the Republican primary debates and facing a staggering array of criminal and civil trials, Trump still leads Haley and the rest of the G.O.P. field in polls.And support from Democrats and corporate moguls may not endear Haley to the Republican base that will start voting on the G.O.P. candidate next month: A recent fund-raising email from Trump argued that “globalist special interest donors from both parties” are forging “an unholy alliance to beat us.”Other Republican contenders are faring even worse. The campaign of Ron DeSantis, Florida’s governor, is in turmoil. Chris Christie, the former New Jersey governor, barely qualified for the debate and faces calls to drop out to avoid fracturing the anti-Trump opposition. And Vivek Ramaswamy, the outspoken “anti-woke” entrepreneur, is fading in the polls.Some donors are just throwing up their hands. Marc Rowan, the C.E.O. of Apollo Global Management, said that the 2024 race would come down to President Biden and Trump. “Personally, I’m disappointed,” he told Bloomberg on Tuesday.In other 2024 news: Liz Cheney, the former Wyoming representative who vehemently opposes Trump, is weighing a third-party presidential run. And Biden said “I’m not sure I’d be running” for re-election were Trump not in the race for the White House.HERE’S WHAT’S HAPPENING The Supreme Court appears wary of broadly disrupting the U.S. tax code. In oral arguments for Moore v. United States, a majority of justices seemed to favor narrowly upholding a Trump-era one-time tax on foreign income. Legal experts warned that a broad ruling could lead to a redefinition of income, potentially requiring major portions of American tax law to be rewritten.CVS will change how its pharmacies are paid for drugs. The nation’s biggest pharmacy chain said it would move to a system based on how much it pays for medicines, rather than the current model that involves complex formulas. CVS said the new arrangement would give more insight into drug pricing, but skeptics argued that it may not lead to lower costs for consumers.The N.C.A.A.’s president proposes uncapped compensation for college athletes. Charlie Baker suggested that top schools set aside educational trust funds of a minimum of $30,000 annually for at least half of their athletes, and raise compensation for women. The plan — which would take a long time to put in effect — is aimed at helping protect the N.C.A.A. from antitrust inquiries.Patrick McHenry, the chair of the House Financial Services Committee, will retire. The North Carolina Republican, the first interim speaker and a champion of the crypto industry, said he wouldn’t seek re-election. Because of term limits, he wouldn’t be able to hold onto his chairmanship anyway, though his district will most likely remain in Republican hands.Bank bosses head to the Hill The heads of America’s biggest banks, including Jamie Dimon of JPMorgan Chase and David Solomon of Goldman Sachs, are expected to go on the offensive on Wednesday at a Senate Banking Committee hearing, arguing that new regulation would help create further instability in the sector and harm borrowers.Capital rules will be in focus. Industry lobbying groups have pushed back in recent months against the so-called Basel III Endgame that would require banks to keep billions on their books as a backstop for potential losses. (Basel refers to the international banking standards committee.) The Fed and the Federal Deposit Insurance Corporation are among the regulators seeking higher capital requirements after the regional banking crisis set off by the collapse of Silicon Valley Bank.The hearing may be the bankers’ last best chance to push their case that the Basel proposal should be watered down or scrapped. In prepared remarks, Dimon said the proposal “would unjustifiably and unnecessarily increase capital requirements by 20-25 percent for the largest banks.” That would force lenders to pull back, creating “a harmful ripple effect on the economy, markets, businesses of all sizes and American households,” he said.The proposal would have an inflationary side effect, driving up the cost of credit for its clients, Solomon warned in his prepared remarks, which in turn “will likely get passed on to consumers.”The pushback comes as America’s lenders contend with a slew of challenges. High interest rates and a slowing economy have put the crimp on their core lending business. Banking watchdogs, meanwhile, remain concerned about lenders’ exposure to the pandemic-hit commercial real estate sector.Don’t expect progressive senators to be swayed. In a statement, the committee wrote that “while Wall Street banks argue that stronger rules to protect the public will be too expensive, they are actually making trillions of dollars in profits every year and paying C.E.O.s several hundred times more than their median workers.”Europe races to regulate A.I. The first big regulatory regime for artificial intelligence could be signed as early as Wednesday, with European Union lawmakers in the final stages of debating the A.I. Act. The rules wouldn’t take effect for 18 months, but they represent an effort by governments to catch up with the development of a transformative technology that has exploded into the public consciousness since the introduction of ChatGPT a year ago.Europe has long been one of the most aggressive tech regulators. From data privacy to tech sector M&A, the E.U. has often been ahead of others. But the fast pace of A.I. development is testing regulators’ ability to keep up. The A.I. Act was introduced in 2021, but the tech has advanced significantly during that time. Other governments are deliberating their own rules. President Biden issued an executive order in October focused on A.I. and national security; Japan is drafting nonbinding guidelines for the technology and China has imposed restrictions on certain types of A.I. Last month, Britain hosted an A.I. safety summit for tech leaders and policymakers that included the U.S. and China.E.U. lawmakers are trying to impose guardrails without killing innovation. Some say the rules need to address the underlying technology, and are pushing to stop the use of A.I. in biometric surveillance.But some member states want opt-out options. Last month, France, Germany and Italy came out against strict regulation of general-purpose A.I. models for fear of hurting domestic start-ups. Some member states also want exceptions for national security, defense and military purposes.The latest draft of the A.I. Act focuses on “high risk” uses, including law enforcement, school admissions and hiring. Some applications, like chatbots and software that creates manipulated images, will have to make clear to people that they are A.I.-generated. Congress takes on campus battles The presidents of Harvard, M.I.T. and the University of Pennsylvania faced a congressional grilling on Tuesday over a growing wave of hate speech and antisemitism on their campuses that has angered some business leaders and prominent donors since the war in Gaza began in October.College leaders admitted to difficulties in confronting hate and preserving free speech. “I know that I have not always gotten it right,” Claudine Gay, Harvard’s president, told the House Committee on Education and the Workforce. She has come under intense pressure from influential professors, graduates and donors, including the former Treasury secretary Larry Summers and Pershing Square Capital Management’s Bill Ackman, to do more to protect students.After the hearing, Ackman called on all three to “resign in disgrace.” Summers said that Gay’s ideals were “just the right ones,” but that “there’s a lot of work to do.”Preserving students’ safety and civil rights has become a national focus. The Education Department’s Office for Civil Rights recently opened an investigation into complaints of antisemitism at Harvard. That came after a series of federal civil rights investigations into complaints of discrimination against students at some of America’s most prestigious universities, including Harvard, Penn and Columbia. Some schools have formed new task forces to address the growing concerns.The financial stakes are high. Schools that run afoul of civil rights laws could risk losing federal funding. Meanwhile, major university donors are using their clout to call attention to the rise of antisemitism on campus, pushing schools to do more to address the matter. These wealthy alumni are urging others to fight back, too.“We have our own war here in the U.S.,” Marc Rowan, the C.E.O. of Apollo Global Management, said at a recent fund-raiser. Rowan, who has criticized his alma mater, Penn, for its handling of antisemitism, renewed his call to hold the institutions accountable, “financially or otherwise.”THE SPEED READ DealsShares in British American Tobacco tumbled after the company announced a $31.5 billion write-down of its U.S. cigarette brands, six years after buying Reynolds American for $49 billion. (NYT)Elon Musk’s artificial intelligence start-up, xAI, filed to raise up to $1 billion in new capital. (The Verge)How Jeff Ubben’s second act, as an environmentally minded activist investor, fell apart. (FT)PolicyChina’s leader, Xi Jinping, is conducting a purge of the top ranks of the country’s political system, a move that could have implications for the global economy and regional stability. (Politico)A group of nuns that owns a stake in Smith & Wesson sued the gun maker, arguing that its sales and marketing strategy for the AR-15 rifle is putting shareholders’ investments at risk. (WSJ)Best of the restHollywood actors ratified their union’s labor deal with movie and television studios, but some had reservations about its guardrails on the use of artificial intelligence. (NYT)Israeli securities regulators said they found no trading abnormalities ahead of the Oct. 7 Hamas-led attacks, after researchers said they had found a spike in short-selling. (Bloomberg)Is it time to give up vinyl records in the name of climate change? (Guardian)We’d like your feedback! Please email thoughts and suggestions to dealbook@nytimes.com. More

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    Biden Says ‘I’m Not Sure I’d Be Running’ if Not for Trump

    President Biden has portrayed a second term for Donald Trump as an existential threat to American democracy.President Biden suggested on Tuesday that he might have been content to serve only a single term if his predecessor, former President Donald J. Trump, were not attempting to recapture the White House.At a campaign fund-raiser in the Boston area, Mr. Biden presented his decision to run for re-election as driven largely by his determination to defeat Mr. Trump a second time and prevent him from returning to power. Mr. Biden has at times portrayed a second term for Mr. Trump as an existential threat to American democracy.“If Trump wasn’t running, I’m not sure I’d be running,” he told donors at the Weston, Mass., home of Alan Solomont, a longtime Democratic financial backer who served as ambassador to Spain. “But we cannot let him win.”The president’s remark came at a time when polls show that most Democrats would prefer someone other than Mr. Biden, who turned 81 last month, to represent the party in next year’s election. A survey by CNN in August found that 67 percent of Democrats and independents who lean Democratic wanted another nominee, and 70 percent listed Mr. Biden’s age, health, mental competence or ability to handle the job as their main concern about him.Although he described himself as “a bridge” to the next generation during his 2020 campaign, a comment that some interpreted as a hint that he would serve only one term, Mr. Biden has concluded that he is best positioned to beat Mr. Trump again, justifying a re-election campaign. He faces only long-shot challengers in the Democratic primaries in the form of Representative Dean Phillips of Minnesota and Marianne Williamson, the author.Mr. Trump, who is 77 and has demonstrated his own cognitive issues lately, has outpaced his rivals for the Republican nomination by double digits in the polls and appears poised to steamroller to his third general election. That is despite four criminal indictments on 91 felony counts of illegally trying to overthrow an election, endangering national security and other charges. Despite his political liabilities, surveys show he is either tied with Mr. Biden or leading slightly both nationally and in the battleground states that will decide the Electoral College.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More

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    Is Liz Cheney Really Thinking About Running for President in 2024?

    The former congresswoman is working to ensure that Donald Trump never returns to the Oval Office. She is also keeping her own door wide open.Liz Cheney was widely seen as a Republican superstar in the making, perhaps even a future president, before she was elected to Congress in 2016. Ms. Cheney never discouraged the talk, but Donald J. Trump shattered her glittering future after she voted to impeach him in 2021 and became a pariah in the G.O.P.Now, while vowing to do “everything I can” to ensure that Mr. Trump never returns to the White House, Ms. Cheney, a former congresswoman from Wyoming, has suggested that she has not abandoned her own presidential ambitions. In interviews with The Washington Post and USA Today ahead of the publication on Tuesday of her new book, “Oath and Honor: A Memoir and a Warning,” Ms. Cheney broached the possibility of a third-party challenge to Mr. Trump’s candidacy.“Several years ago, I would not have contemplated a third-party run,” Ms. Cheney told Maeve Reston of The Post. But, she said, “democracy is at risk” in the United States as well as overseas. Ms. Cheney said she would make a final decision in the next few months.Her comments were in keeping with the answer she gave in October to Jake Tapper of CNN about whether she was ruling out a presidential run. “No, I’m not,” she said.Ms. Cheney declined to comment to The New York Times.Despite her remarks, there is no evidence that Ms. Cheney has taken any steps toward running beyond keeping her options open while maximizing her relevancy during a book-promotion tour.She has not hired any campaign staff members. Close associates of hers say they are unaware of any polling, signature-gathering or related efforts associated with mounting a third-party campaign. Her political action committee, the Great Task, has stalled in activity since the 2022 midterms, when Ms. Cheney backed efforts by some Democratic candidates against Republicans who had claimed the 2020 election was stolen.In the meantime, time is running short. Filing deadlines to appear on ballots as a third-party candidate in 2024 begin as early as March in some states. Though she expressed an openness to USA Today to “setting up a new party” that might supplant a Trump-centric G.O.P., such an effort would require the kind of money, personnel and legal maneuvering that would take months if not years to produce.A Cheney presidential run is also likely to undermine her mission of thwarting Mr. Trump’s 2024 ambitions, said one close friend, because her candidacy could siphon some votes away from President Biden. According to the friend, Ms. Cheney’s comment to The Post that she would not have contemplated a third-party run until recently seemed more about her long allegiance to the G.O.P. and less about a new appetite for running as an independent.Among Beltway conservatives, including lobbyists and military hawks, Ms. Cheney remains a popular figure and a woman of presidential timber. Lawmakers and staff members who served with Ms. Cheney on the House committee investigating the Jan. 6, 2021, assault on the Capitol privately wondered whether the vice chairwoman was prioritizing her ambitions over a comprehensive investigation of the Capitol riot. To Mr. Trump’s allies, of course, the question answered itself.If the current moment suggests anything beyond the desire to sell books, it is a reminder that Liz Cheney, like her father, former Vice President Dick Cheney, has long understood the importance of political leverage in furthering her core beliefs. For now, she holds no office and has no place in either major party. But she has her voice. More