Ayesha Rascoe

The economic slowdown caused by the coronavirus pandemic is stifling a federal program meant to spur new investment in low-income neighborhoods, according to a new survey from an advocacy group that backs the initiative.

Updated at 9:15 p.m. ET

President Trump defended what he called a "very symbolic" photo-op on Monday in front of St. John's Church and dismissed a suggestion that he needed to do more to comfort the nation after the death of George Floyd, saying that cracking down on violent protests was paramount.

President Trump and the White House have not decided whether he will deliver a formal speech addressing the protests and turmoil that have erupted after George Floyd's death in Minneapolis, White House adviser Brooke Rollins told Politico on Monday.

Mass demonstrations have taken place across the country to call for justice for Floyd, who died after a Minneapolis police officer pressed his knee into Floyd's neck for nearly nine minutes as Floyd pleaded for help.

Seniors with diabetes will be able to sign up for Medicare plans that cap their co-payments for insulin at $35 a month beginning next year, the White House announced on Tuesday.

The news comes as some polls show Trump's support slipping with seniors, a voting bloc that may play a pivotal role in the November election. In 2016, he won over older voters, but recent polls show him trailing Democratic challenger Joe Biden.

The White House is looking at extending a tax break for investments in certain low-income neighborhoods as it tries to find ways to address the devastating impact of the coronavirus on communities of color in America.

A provision in the 2017 tax cut law allows investors to defer and lower their capital gains taxes through 2026 if they invest their profits into designated "opportunity zones" –- areas struggling with high unemployment and low wages.