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Trump replaces campaign manager Brad Parscale, AOC pushes Cuomo to back billionaires’ Tax

Yahoo Finance's On The Move discuss the top stories of the day.

Video Transcript

ADAM SHAPIRO: And welcome back to Yahoo Finance. News on the move, President Trump announced last night that Bill Stepien will take over as his campaign manager, pushing out Brad Parscale. Stepien was former New Jersey Governor Chris Christie's campaign manager and White House political director under President Trump.

President Trump's poll numbers, they've been falling. And he trails Democratic presidential candidate Joe Biden.

JULIE HYMAN: Well, Adam, the 119 billionaires in New York State might have to pay a new tax if representative Alexandria Ocasio-Cortez gets her way. The congresswoman is spearheading a new campaign to pressure Governor Andrew Cuomo to impose the tax, that's in order to fund assistance for people under coronavirus-induced economic pressure. The New York legislature has not advanced similar measures in the past.

ADAM SHAPIRO: And the temperature in California's Death Valley hit 128 degrees this last Sunday. Forecasters predict it could soon hit 130 degrees, which would be a global temperature record. Other parts of the United States are sweating out a summer heat wave right now. Springs California, they hit 121 degrees. [INAUDIBLE], Texas recorded 160 degrees recently. And Tucson, Arizona saw temperatures rise recently to 113 degrees.