CBS News
Trump will nominate transition adviser and billionaire Howard Lutnick for commerce secretary
President-elect Donald Trump says he’ll nominate Howard Lutnick, head of brokerage and investment bank Cantor Fitzgerald, to be commerce secretary, a position in which he’d have a key role in carrying out Trump’s plans to raise and enforce tariffs.
Trump announced his pick Tuesday in a social media post.
Lutnick is a co-chair of Trump’s transition team, along with Linda McMahon, the former wrestling executive who was the Small Business Administration administrator in Trump’s first administration. Both are tasked with putting forward candidates for key roles in the next administration.
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Lutnick has also donated millions to the effort to re-elect Trump and other Republicans. He hosted a fundraiser for Trump in August that raised $15 million and also gave $5 million to the Make America Great Again PAC, according to Federal Election Commission records.
As commerce secretary, Lutnick, if confirmed, would be in charge of a sprawling Cabinet agency that is involved in funding new computer chip factories, imposing trade restrictions, releasing economic data and monitoring the weather. It is also a position in which connections to CEOs and the wider business community are crucial.
An advocate for imposing wide-ranging tariffs, Lutnick told CNBC in September that “tariffs are an amazing tool for the president to use — we need to protect the American worker.” During his campaign, Trump proposed a 60% tariff on goods from China — and a tariff of up to 20% on everything else the U.S. imports.
“I think we’ll make a bunch of money on the tariffs,” Lutnick said, “but mostly, everybody else is going to negotiate with us, and we will be more fair.”
Mainstream economists are generally skeptical of tariffs, considering them a mostly inefficient way for governments to raise money and promote prosperity.
During the campaign, Trump campaign allies, including Lutnick, were asked about Project 2025, the multi-pronged initiative overseen by the conservative Heritage Foundation that includes a detailed blueprint for the next Republican president to usher in a sweeping overhaul of the executive branch.
Trump and his campaign worked to distance themselves from Project 2025 in the months leading up to Election Day, with the former president going so far as to call some of the proposals “abysmal.” Lutnick told CNBC he had read Project 2025 but had not met with any of its authors.
“I won’t touch them. They made themselves nuclear,” Lutnick said in September.
Lutnick, who’s worked on Wall Street for over 30 years, has been with Cantor Fitzgerald since 1983 and became its president and CEO when he was 29 years old, in 1996. On 9/11, Cantor Fitzgerald lost about two-thirds of its New York-based workforce in the terrorist attacks, 658 employees in all, including Lutnick’s brother. Lutnick survived the attack because he was late to work that day, dropping off his young son at his first day of school. In the years since the attack, Lutnick and the Cantor Fitzgerald Relief Fund have donated $180 million to 9/11 families, according to Trump’s social media post on Lutnick’s selection.
Lutnick, who is also a cryptocurrency enthusiast, was also under consideration for treasury secretary, a role that has been at the center of high-profile jockeying within the Trump world. At the same time, the treasury position is closely watched in financial circles, where a disruptive nominee could have immediate negative consequences on the stock market, which Trump watches closely.
Billionaire Elon Musk and others in Trump’s orbit were calling on Trump to dump the previous front-runner for treasury secretary, Scott Bessent, in favor of Lutnick. Musk said in his post that “Bessent is a business-as-usual choice, whereas @howardlutnick will actually enact change.”
Nationwide rates of emergency room visits for babies with Mycoplasma pneumoniae are on track to surpass rates for school-age children, data from the U.S. Centers for Disease Control and Prevention shows, as doctors nationwide are grappling with a surge of “walking pneumonia” cases.
The new figures come from the CDC’s National Syndromic Surveillance Program, which gathers data on pneumonia-associated emergency room visits from U.S. hospitals.
While cases had been higher in school-age kids compared to other age groups, rates in babies have surged in recent weeks, and are now tied with older kids. According to the latest CDC data, for the week ending Nov. 2, 7.6% of emergency department pneumonia cases for babies 0-1 years old and children ages 5-17 years old resulted in Mycoplasma pneumoniae diagnoses.
“These diagnoses dropped a little after August, but remained high through early November. Of note, diagnoses among 0–1-year-olds have steadily increased throughout the fall without any subsequent decrease,” CDC spokesperson Jasmine Reed said in a statement Tuesday.
During the COVID-19 pandemic, cases largely disappeared. CDC officials had said that this year’s wave could be heralding a return to waves of Mycoplasma pneumoniae cases that occurred prior to the pandemic.
But this year’s trend has also been unusual, since cases had previously been thought to be common only in school-aged kids, not younger children.
“While we are seeing right now that it is presenting as a typical respiratory infection, we want to make sure that there isn’t something unusual going on with the bacteria itself or the way it’s showing up that might give guidance in how to treat and prevent it,” Dr. Adam Cohen, head of the CDC’s pneumonia branch, told Medscape News earlier this month.
According to Reed, while every U.S. region is seeing an increase in Mycoplasma pneumoniae cases, the CDC’s data suggests that since at least last month — when several states first began to raise concerns over the surge — the ERs of three regions specifically are seeing the highest levels of the bacteria.
One is in the South and spans Texas and its neighbors Arkansas, Louisiana, Oklahoma and New Mexico. The second is in the Midwest and includes Iowa, Kansas, Missouri and Nebraska. The third is in the Northeast and includes New York and New Jersey.
“Maybe it’s another one of those things that we didn’t see, got really suppressed during COVID, and now it’s coming back,” said Dr. Jennifer Nayak, division chief of pediatric infectious disease at Golisano Children’s Hospital in New York. “It just is definitely a really bad year for Mycoplasma.”
Nayak said that around a quarter of tests from the hospital’s microbiology lab have come in positive for the bacteria, which she says is unusually high.
The hospital has also seen an increase in patients needing to be hospitalized for the bacteria and who are battling a range of conditions — from lung issues to more complicated neurological complications — though they remain a fraction of overall cases.
“We’ve definitely seen more kids on the seriously ill side of the spectrum,” Nayak said. “Likely not because the bacteria has changed, but because our rates overall are just higher.”
She cautioned that while the recent increase has been unusual, there has not been a lot of data tracking the disease, so comparisons to previous waves of the bacteria have been challenging.
“Our tracking of Mycoplasma infections is suboptimal,” Nayak said. “This is not something that is reportable to health departments. It has not, until relatively recently, been closely tracked.”
A spokesperson for the New York State Department of Health said that it has also tracked a “marked increase” in Mycoplasma pneumoniae based on data from the state’s emergency rooms, compared to previous years.
While not all pneumonia cases warrant antibiotics, Nayak said testing can be important to give answers for children and their families battling persistent or serious pneumonia cases, as well as to help make decisions about how to treat the infections.
“The amoxicillin your child is getting because they might have an ear infection, or you think you’re treating another community-acquired pneumonia, those antibiotics will not be effective against Mycoplasma,” Nayak said.
CBS News
Trump’s FCC pick, Brendan Carr, wrote Project 2025’s chapter on the agency. Here’s what he wants.
President-elect Donald Trump’s pick to run the Federal Communications Commission, Brendan Carr, will oversee the agency that regulates U.S. internet access and communications networks such as TV and radio. Carr believes it’s an institution ripe for change, according to the nominee’s Project 2025 chapter on the agency FCC.
Carr will be stepping into the role of FCC Chair after serving as one of its five commissioners since 2017, when Trump nominated him to the role during his first administration. Prior to that, Carr served as the agency’s general counsel.
The FCC may not be a household name to most Americans, but the agency enforces communications laws, runs programs to help communities gain access to high-speed internet and regulates communications services, including satellite internet access, among other tasks. But under Carr, the agency may pivot to some new priorities during Trump’s next term, with a renewed focus on battling big technology companies and Chinese-based telecom firms.
“The FCC needs to change course and bring new urgency to achieving four main goals,” including “reining in Big Tech,” Carr wrote in his chapter on the FCC in Project 2025.
Here’s what to know about Carr’s priorities.
How might the FCC deal with tech giants?
In Project 2025, Carr highlighted what he believes is a need for a new approach to dealing with tech giants such as Google, Meta and others.
“Today, a handful of corporations can shape everything from the information we consume to the places we shop,” Carr wrote in the document. “These corporate behemoths are not merely exercising market power, they are abusing dominant positions.”
The FCC should restrict immunity from Section 230, part of a law that says tech companies aren’t liable if a user posts something libelous, as well as tamp down the businesses’ ability to “censor protected speech while maintaining their Section 230 protections,” he wrote.
Carr also wants tech companies to be more transparent about their algorithm changes and their decisions to block or demonetize users.
What are Carr’s views on Elon Musk?
Carr has built an alliance with billionaire Musk, the world’s wealthiest person who backed Trump’s campaign and whose Starlink satellite internet service could benefit from access to federal cash.
In a Tuesday interview with Fox News, Carr pointed to Musk as an example of how the federal government doesn’t treat people fairly, noting that a grant of almost $900 million to Musk’s Starlink was “revoked unlawfully.” Last year, the FCC said it rejected the grant because of lack of proof that Starlink would be able to provide service to hundreds of thousands of rural properties.
“It is time for the American government to not give people different treatment based on their last name,” Carr told Fox News. “Everybody will get a fair shake from the government going forward.”
What about his views on TikTok and Chinese businesses?
In his Project 2025 chapter, Carr singled out TikTok and other Chinese-owned businesses as potential threats to U.S. security.
“As law enforcement officials have made clear, TikTok poses a serious and unacceptable risk to America’s national security,” Carr wrote. “It also provides Beijing with an opportunity to run a foreign influence campaign by determining the news and information that the app feeds to millions of Americans.”
That would align his views along those with the Biden administration, with the president signing a law in April that would require TikTok to be sold or else banned from the U.S.
Carr also wrote that he believes the FCC needs to do more to monitor and restrict Chinese telecom and tech businesses from operating within the U.S.
What does Carr say about broadcasters?
Carr has taken aim at some broadcasters, including CBS News, echoing Trump’s claims that they engage in political bias. For instance, Carr singled out NBC for including Trump’s Democratic rival, Kamala Harris, in a “Saturday Night Live” skit before the election.
“This is a clear and blatant effort to evade the FCC’s Equal Time rule,” Carr wrote on X on November 2. “The purpose of the rule is to avoid exactly this type of biased and partisan conduct — a licensed broadcaster using the public airwaves to exert its influence for one candidate on the eve of an election.”
After Trump announced Carr’s pick, Carr said on X that he will ensure the FCC “will enforce” laws that call on broadcasters “to operate in the public interest.”
Trump has repeatedly called to strip major broadcasters such as ABC, NBC and CBS of their licenses. During the 2024 campaign, Trump sued CBS News over a “60 Minutes” interview with Harris, alleging the network used “deceitful” editing of her responses. CBS News has called the president-elect’s claims “completely without merit” and added it intended to vigorously defend against the lawsuit.
What do supporters and critics say about Carr?
Trump praised Carr as “a warrior for Free Speech” in a statement announcing his selection. Fellow FCC Commissioner Geoffrey Starks, a Democrat, described Carr as “a dedicated public servant and a recognized leader on the many issues before the Commission today.”
But some critics have flagged some of Carr’s stances, with the nonpartisan public interest group Free Press describing his relationship with Musk as well as his stance on broadcasters as problematic.
“While styling himself as a free-speech champion, Carr refused to stand up when Trump threatened to take away the broadcast licenses of TV stations for daring to fact check him during the campaign,” Free Press Action Co-CEO Craig Aaron said in a statement. “This alone should be disqualifying.”
Free Press and Fight for the Future, an advocacy group focused on digital rights, both have cited concerns about net neutrality, a policy that ensures internet service providers treat all websites and online content equally. Net neutrality was overturned during the first Trump administration, but was restored during Biden’s term.
“Trump’s nomination of Brendan Carr, one of the co-authors of Project 2025, to head the FCC is more than just a reversal of popular policies like net neutrality,” said Evan Greer, director of Fight for the Future, said in an email. “Carr has made clear he actually wants the FCC to get more involved in policing online speech.”
CBS News
H&R Block and Intuit drop on a report that Elon Musk’s DOGE may develop a new tax-filing app
H&R Block and Intuit shares dropped on Tuesday after the Washington Post reported that President-elect Donald Trump’s Department of Government Efficiency, which is run by billionaires Elon Musk and Vivek Ramaswamy, is looking at developing a free app for people to file their taxes.
The publication cited two people, who spoke on the condition of anonymity, in reporting that the leaders of the incoming administration’s DOGE discussed the idea of crafting a mobile app to file income tax returns with the Internal Revenue Service.
H&R Block shares tumbled 8.2%, while Intuit shed 5.1% on Tuesday. As the dominant players in tax preparation, H&R Block and Intuit, the maker of TurboTax, generate billions in revenue annually by offering online and in-person services.
The Biden Administration in March rolled out a pilot Direct File program through the IRS in 12 states. It allows qualified taxpayers file directly through a federal portal. Additionally, the IRS provides services through its Free File program for those who made an adjusted gross income of $79,000 or less.
More than 100,000 taxpayers used the new Direct File program to file their taxes this year, which marked the first time the system was in operation, according to the Treasury Department.
The DOGE, which has been directed by Trump to slash government spending and cut federal regulations, criticized the complexity of the U.S tax code in a Nov. 16 post on X, the social media service owned by Musk.
“In 1955, there were less than 1.5 million words in the U.S. Tax Code. Today, there are more than 16 million words,” its X account wrote. “Because of this complexity, Americans collectively spend 6.5 billion hours preparing and filing their taxes each year.”
Intuit and H&R Block also have free filing options.
That said, the Federal Trade Commission earlier in the year barred Intuit from advertising its popular TurboTax product as free when most people have to pay to use it. The FTC in February filed an administrative complaint against H&R Block, alleging it marketed its tax-prep products as free yet deleted the data as a way to pressure them to pay for pricier services. Both companies said they’d appeal.
