Cheddar's J.D. Durkin reports live from Capitol Hill about the big news surrounding the GOP Tax Reform Bill. After rectifying a procedural snafu in the House vote, President Trump will get one step closer to his first big legislative victory this afternoon.
The White House is planning a "major tax event" for later this afternoon. The administration stresses that this will not ber a formal signing of the bill.
J.D. also reports on the news out of Alabama. Eight days after the special election there, Judge Roy Moore has yet to concede, even though there is a 21,000-vote difference between himself and his challenger, Democrat Doug Jones. Jones is in the lead. Moore and supporters are mounting a $75,000 fundraising effort to launch an investigation into any possible voter fraud.
Cheddar's Chloe Aiello has our cannabis year-in-review, breaking down how several states legalized adult recreational use and greenlit medicinal use in 2021. She noted that while a cannabis legalization and decriminalization bill was introduced in Congress this year, potential FDA involvement in the industry, as well as a 25 percent excise tax, killed any chance the bill had of moving forward. Aiello also speculated that some form of cannabis reform could be rolled out in 2022, as the midterm elections draw closer.
Jim Worden, Chief Investment Officer at Wealth Consulting Group, joins Cheddar News' Closing Bell, where he says the period between Christmas and New Year's is difficult to predict due to a lack of institutional volume, with the Omicron variant adding even more uncertainty on Wall Street.
Prices at the pump this year reached a seven-year high, and a new forecast from GasBuddy shared with CNN predicts that gas prices will only continue to rise in 2022 and that the national average could even reach $4.00 a gallon; however, analysts at GasBuddy say anything could happen when it comes to gas prices in the future, as the pandemic has made it difficult to make any predictions about the economy. Consumer Energy Alliance federal policy advisor Michael Zehr joins Cheddar News' Closing Bell to discuss.
David Stryzewski, CEO of Sound Planning Group, joins Cheddar News' Closing Bell, where he says that some of the major stock positions are getting the most lift to the upside as the major indexes climb higher to begin the week.
