Trump Action Archive

Supporting reports

• Treasury and FinCEN eliminated beneficial ownership reporting requirement — The Treasury Department and FinCEN announced a final rule permanently eliminating the requirement for U.S. companies and individuals to report beneficial ownership information. FinCEN also announced it will delete all beneficial ownership information already collected. The beneficial ownership reporting requirement, enacted in 2020, was designed to prevent drug traffickers, Russian and Chinese kleptocrats, and international criminals from hiding money in anonymous shell companies. Former Congressman Tom Malinowski stated the move is likely illegal, as the administration is making its own rules to circumvent a law passed by Congress.
• Treasury Department repeals beneficial ownership reporting requirement — The Treasury Department officially repealed the requirement for U.S. companies and individuals to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN), implemented under the Biden administration pursuant to the Corporate Transparency Act passed by Congress in 2020. The repeal also exempts Americans who obtained FinCEN IDs from updating or correcting information and eliminates the requirement for foreign companies to report Americans who helped them register to do business in the U.S. The original law was authored by then-Senator Marco Rubio, now Secretary of State, who had called it "the most significant anti-corruption and money laundering law in decades."

Supporting reports

• White House OMB argues furloughed federal workers not entitled to back pay under GEFTA — The White House Office of Management and Budget issued a draft memo arguing that the Government Employee Fair Treatment Act (GEFTA) of 2019 does not automatically guarantee back pay to furloughed federal workers during the ongoing government shutdown. OMB General Counsel Mark Paoletta stated that Congress must include express appropriations language for back pay in legislation ending the shutdown. The OMB previously removed references to GEFTA from shutdown guidance. An estimated 750,000 federal workers have been furloughed as of the shutdown's seventh day.
• White House OMB memo argues federal workers not entitled to back pay — On Tuesday, the White House Office of Management and Budget released a memo contending that federal workers are not entitled to back pay during the shutdown, contradicting a 2019 law that mandates such compensation. House Speaker Mike Johnson subsequently stated at a press conference that he believes federal employees should receive back pay, citing statutory law. The memo represents an attempt to reduce pressure on Republicans to end the shutdown quickly.
• White House threatens federal workforce layoffs during shutdown — White House Press Secretary Karoline Leavitt announced that if the shutdown continued, the Trump administration would lay off federal employees, despite federal law entitling them to back pay. She also warned that a food assistance program for low-income mothers and children would exhaust its funding. Director of OMB Russ Vought had already cancelled funding for energy and transportation projects in Democratic-governed states.
• Administration announces continuation of illegal cuts during government shutdown — On October 1, 2025, as the government shutdown began, Office of Management and Budget director Russell Vought announced plans to use the shutdown to implement $26 billion in cuts to infrastructure and climate projects in Democratic-led states, as well as to lay off federal employees instead of furloughing them. This action is part of a broader strategy to impose significant cuts to government programs.
• OMB floats denial of back pay guarantee for furloughed federal workers — The Office of Management and Budget issued a memo suggesting that federal workers furloughed during a government shutdown are not guaranteed back pay when the shutdown ends, departing from the administration's own guidance issued the previous month. This reverses the 2019 law that President Trump himself signed to guarantee such pay. Administration officials told media outlets the memo is intended to give Republicans leverage in shutdown negotiations with Democrats. OMB director Russell Vought had previously threatened mass firings if Democrats refused the Republican continuing resolution.
• Trump suggested not all furloughed employees deserve back pay — Speaking to reporters alongside Canadian Prime Minister Mark Carney, Trump suggested that not all furloughed federal employees should receive back pay following the government shutdown. He noted, "It depends on who we're talking about," and added, "We're going to take care of our people. There are some people that really don't deserve to be taken care of, and we'll take care of them in a different way."
• OMB revised guidance removing back pay guarantee — Government Executive reported that the Office of Management and Budget quietly revised a guidance document last week to remove references to a law passed during Trump's first term, guaranteeing all federal workers back pay following a government shutdown.
• Trump signals furloughed federal workers may not receive back pay — During a White House event, President Trump stated that some furloughed federal workers may not receive customary back pay when the government reopens, saying "there are some people that don't deserve to be taken care of" and that back pay "depends on who we're talking about." This breaks with historical precedent and creates uncertainty for unpaid workers already under financial strain.

Supporting reports

• Trump announces $1 trillion military budget for fiscal year 2026 — On April 7, President Trump announced plans to propose a $1 trillion military budget for fiscal year 2026, representing a $107 billion increase from current spending. Trump stated during a meeting with Israeli Prime Minister Benjamin Netanyahu that the increase was necessary to strengthen U.S. military capacity. This reverses Trump's February position that military spending of nearly $1 trillion was excessive and should be reduced through arms-control negotiations with China and Russia. Secretary of Defense Pete Hegseth endorsed the proposal.
• White House warned Trump would veto tariff approval bill — The White House warned that Trump would veto a bill that would require approval from Congress to impose new tariffs.
• CNBC reported false rumor of Trump tariff pause, causing market volatility — CNBC reported a false rumor that Trump would announce a 90-day pause on tariffs after Fox host Brian Kilmeade asked White House Economic Advisor Kevin Hassett if Trump would consider such a pause. The rumor caused stock markets to rally sharply mid-morning. When the White House denied the report as "fake news," markets declined again. The false report originated from Hassett's non-committal response that "the president is gonna decide what the president is gonna decide."
• White House denied tariff pause report as fake news — The White House social media account responded to the CNBC report of a tariff pause by stating "Wrong. Fake News. Not only did Director Hassett not say this, POTUS has been clear - 'it all has to change, but especially with CHINA!!!'" The denial clarified that Trump has not agreed to any tariff pause.
• Peter Navarro stated tariffs are not a negotiation but a national emergency response — White House trade advisor Peter Navarro told Fox News that the tariffs represent "a national emergency based on a trade deficit that's gotten out of control because of cheating," explicitly rejecting the characterization of tariffs as a negotiating tactic. This statement contradicted other administration messaging suggesting tariffs were leverage for trade negotiations.
• Trump posted on Truth Social that his policies will never change — President Trump posted on Truth Social stating "MY POLICIES WILL NEVER CHANGE," signaling that tariff policy would not be reversed despite market turmoil and economic concerns. This statement contradicted earlier messaging that tariffs were negotiating tactics.
• White House issued fact sheet stating tariffs remain in effect until trade deficit threat is resolved — The White House released a fact sheet claiming that tariffs would remain in effect "until such a time as President Trump determines that the threat posed by the trade deficit and underlying nonreciprocal treatment is satisfied, resolved, or mitigated." This statement indicated tariffs were not temporary negotiating tools but permanent policy subject only to Trump's subjective determination.
• Trump announces 90-day pause on reciprocal tariffs — Hours after reciprocal tariffs took effect on April 9, 2025, Trump announced a 90-day pause on them, with the exception of China, where he increased tariffs to 125%. White House press secretary Karoline Leavitt characterized the move as part of Trump's negotiating strategy, referencing "The Art of the Deal." The pause came after stock markets had fallen sharply and amid widespread economic warnings.
• Trump announces 90-day tariff pause with modified rates, triggering market volatility and insider-trading allegations — On Wednesday, April 9, Trump announced a 90-day pause on his tariff plan, replacing his original broad tariffs with a 10% blanket rate on most countries through July, while raising China tariffs to 145% effective immediately. The announcement triggered a historic market rally Wednesday afternoon, followed by sharp sell-offs Thursday as economists warned the effective tariff rate was worse than worst-case scenarios. Democrats alleged possible insider trading and market manipulation; Republicans praised the move as strategic negotiation.
• Trump reversed course on tariffs with 90-day pause — After tanking the stock market, Trump reversed course on his "Liberation Day" tariffs. He announced a 90-day pause on a steep hike in tariffs on most countries, except for China, which he said would now face duties of 125%.
• Senators and representatives questioned insider trading related to tariff announcements. — Multiple members of Congress raised concerns about potential insider trading in the hours before Trump's tariff announcement. Senator Adam Schiff stated he would investigate whether Trump and associates tipped off friends to profit from market movements. Senator Bernie Sanders expressed skepticism that people with advance knowledge of the tariff reversal did not profit. Representative Alexandria Ocasio-Cortez called for disclosure of stock purchases made in the prior 48 hours and urged a ban on congressional insider trading. Senator Chris Murphy characterized the situation as "an insider trading scandal brewing."
• Trump's approval rating fell to 41% in new Quinnipiac poll. — A new Quinnipiac poll showed President Trump's approval rating at 41% with 53% disapproval. CNN analyst Harry Enten noted that only two presidents have had net negative approval ratings at this point in their term: Donald Trump in his first term and Donald Trump in his second term.
• White House refused to release list of 75 countries allegedly requesting tariff deals. — President Trump claimed that leaders of 75 countries had called "kissing my ass" to request trade deals, prompting him to lift most tariffs. When NBC News requested the list of these 75 countries, the White House refused to release it. The refusal raised questions about the veracity of Trump's claim and the basis for the tariff reversal.
• 30-year mortgage rates surge to 7.1% — The average mortgage rate on 30-year fixed-rate mortgages surged 1.3 basis points to 7.1% on this date. Matthew Graham, COO of Mortgage News Daily, characterized the week as the worst for bond markets in terms of 10-year yield jumps for anyone whose career began after 1981, indicating severe market volatility tied to administration policy.