House Judiciary introduces act to pause statute of limitations on presidential federal offenses

Jerry Nadler (D-NY). Photo: Chip Somodevilla/Getty Images

House Judiciary Chairman Jerry Nadler (D-N.Y.) and Reps. Ted Deutch (D-Fla.) and Eric Swalwell (D-Calif.) introduced an act on Friday that would "pause the statute of limitations for any federal offense committed by a sitting president."

Between the lines: The "No President Is Above the Law Act" is likely an attempt to circumvent the Justice Department's ruling that states a sitting president cannot be indicted or criminally prosecuted.

The big picture: Special counsel Robert Mueller laid out extensive evidence of possible obstruction by Trump in volume 2 of his report, though he ultimately opted not to make a "traditional prosecutorial judgment" in part because of the OLC opinion.

The backdrop: More than 650 former federal prosecutors have signed onto a statement asserting that if the DOJ's Office of Legal Counsel (OLC) did not prohibit a sitting president from being indicted, President Trump would be charged with obstruction of justice in the aftermath of Robert Mueller's report.

Go deeper: Schiff considers fining Trump officials held in contempt $25,000 a day

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Off the Rails

Episode 6: Last stand in Georgia

Photo illustration: Aïda Amer/Axios. Photo: Drew Angerer, Raymond Boyd/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. Axios takes you inside the collapse of a president with a special series.

Episode 6: Georgia had not backed a Democratic presidential candidate since 1992 and Donald Trump's defeat in this Deep South stronghold, and his reaction to that loss, would help cost Republicans the U.S. Senate as well. Georgia was Trump's last stand.

On Air Force One, President Trump was in a mood. He had been clear he did not want to return to Georgia, and yet somehow he'd been conscripted into another rally on the night of Jan. 4.

Top Trump advisers discuss need to resist dangerous, unlawful orders

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Some top remaining administration officials are preparing to resist any unlawful or dangerous orders in the closing days of Trump's presidency, senior administration officials with direct knowledge of the sensitive conversations tell Axios.

Why it matters: After Trump incited protesters to storm the Capitol on Wednesday, there's a near universal view among top officials that he is unfit and unhinged, these sources said.

Kaine, Collins' censure resolution seeks to bar Trump from holding office again

Sen. Tim Kaine (center) and Sen. Susan Collins (right). Photo: Andrew Harnik/Pool via Getty Images

Sens. Tim Kaine (D-Va.) and Susan Collins (R-Maine) are forging ahead with a draft proposal to censure former President Trump, and are considering introducing the resolution on the Senate floor next week.

Why it matters: Senators are looking for a way to condemn Trump on the record as it becomes increasingly unlikely Democrats will obtain the 17 Republican votes needed to gain a conviction, Axios Alayna Treene writes. "I think it’s important for the Senate's leadership to understand that there are alternatives," Kaine told CNN on Wednesday.

Stark reminder for America's corporate leaders

Rosalind "Roz" Brewer is about to become only the second Black woman to permanently lead a Fortune 500 company. She starts as Walgreens CEO on March 15.

Why it matters: It's a stark reminder of how far corporate America's top decision-makers have to go during an unprecedented push by politicians, employees and even a stock exchange to diversify their top ranks.

Apple's quarterly sales top $100 billion for first time

Credit: Apple

Spurred by strong sales of the latest iPhones, Apple reported it took in a record $111 billion in revenue for the three months ended Dec. 31, as the company crushed expectations.

Why it matters: The move showed even a pandemic didn't dull demand for Apple's latest smartphones.

Facebook stock whipsaws amid ad targeting concerns

Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images

Facebook's stock showed volatility in after-hours trading Wednesday, despite adding users and beating on top and bottom lines.

Why it matters: Investors seem spooked by proposed changes to user data collection by Apple that would impact Facebook's ad business, in addition to perennial threats of new federal privacy regulations.

Fed chair says low interest rates aren't driving stock market prices

Jerome Powell. Photo: ANDREW CABALLERO-REYNOLDS / Getty Images

Federal Reserve chairman Jerome Powell told reporters on Wednesday that rock-bottom interest rates aren't playing a role in driving stock prices higher, while noting that vulnerabilities to the financial system are "moderate."

Why it matters: The statement comes amid unshakeable stock prices and a Reddit-fueled market frenzy — prompting widespread fears of a bubble and the role monetary policy has played in that.

Biden freezes U.S. arms deals with Saudi Arabia and UAE

Trump struck several large arms deals with Mohammed bin Salman (L) and Saudi Arabia. Photo: Kevin Dietsch-Pool/Getty Images

The Biden administration has put on hold two big arms deals with Saudi Arabia and the United Arab Emirates which were approved in the final weeks of the Trump administration, a State Department official tells Axios.

Why it matters: The sales of F-35 jets and attack drones to the UAE and a large supply of munitions to Saudi Arabia will be paused pending a review. That signals a major policy shift from the Trump era, and may herald sharp tensions with both Gulf countries.

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