The Trump administration announced plans Friday to speed up coronavirus testing, introducing an emergency hotline for companies and private laboratories developing quicker tests and seems on a path to a multi-billion-dollar federal plan with Congress amid reports the president will declare a national emergency later today.
"I hope he does it, it's the right thing to do, it will free up states and local communities to act more aggressively," Rep. Ami Bera (D-Calif. 7th District) told Cheddar on Friday.
The administration is catching up to warnings health officials have been making for weeks about the United States's lack of preparedness for what is now a pandemic. Bera, a physician himself, said the new measures will allow community health centers taking care of Medicaid patients to be reimbursed for telemedicine.
"If you can manage [sick patients] using technology, using telehealth, telemedicine and they can stay at home, that is actually a good thing, that will help slow the spread," he said.
Though telemedicine may help treat patients without potentially infecting those they come in contact with, a lack of test kits will impede physicians’ ability to track patients.
"What I’ve suggested to the administration is, look, if South Korea can do it, pick up the phone, call the Korean company that’s making these tests and see if you can’t just license those tests and get it sent over here if it’s taking so long for us to do it," he said.
While health workers attempt to slow the spread of the virus, politicians are still at work on a bill, which appeared to hit a roadblock today over disagreements about paid sick leave. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have been negotiating the plan, which House Democrats are expected to vote on today.
"We're told that they're pretty close," Bera said. "Workers, families, those hourly wage folks, they're going to be hurt immediately. This is America, we don't let people fall down like that."
In February, Senator Jeff Merkley (D-Ore.) and Representative Jamaal Bowman (D-N.Y. 16th District) introduced the Fair College Admissions for Students Act. The bill looks to curb the admissions advantage given to the children of alumni and donors for colleges and universities. Sen. Merkley joined Cheddar news to discuss the push behind the legislation. "My dad was a mechanic. I was applying to schools around the country. I never thought about the fact that those students who came from the most privileged backgrounds also got a special advantage in applying to college," he said. "They take up 10-25 percent of the slots at many of our universities, and so this is kind of affirmative action for those who need it least rather than a level playing field for everyone else." If enacted, the law would amend the Higher Education Act of 1965 doing away with legacy or donor status admissions for any school participating in the federal student aid program.
Nancy Daoud, a private wealth adviser for Ameriprise Financial, joins Cheddar News' Closing Bell, where she discusses what led to a sharp spike on Wall Street during Tuesday's session and what she will be watching for most closely when the Fed announces it latest policy decision on Wednesday.
Russia's economy is effectively at a standstill after it was slapped with extensive western sanctions, and now it has to make the first of four monthly interest payments on dollar bonds. It's likely the country will not be able to pay — so what happens next? Major credit ratings agencies have downgraded Russian sovereign debt, with Fitch issuing a 'C' rating and S&P Global Ratings issuing a 'CCC-' rating. Caleb Silver, Editor in Chief of Investopedia, joins Closing Bell to discuss what a Russian debt default could mean for Russia's economy, U.S. consumers who have pensions with exposure to Russian assets, and whether this could create a global financial crisis.
With the number of Ukrainians being displaced due to the Russian invasion surging, two students from Harvard took it on themselves to develop a website to help connect potential hosts with refugees seeking housing. The co-founder of the website Ukraine Takes Shelter, Marco Burstein, joined Cheddar news to discuss working together with fellow freshman Avi Schiffmann to streamline the effort to aid Ukrainian refugees. "We basically worked for three days straight developing the website, and since then the response has been pretty incredible," Burstein said.
Over three weeks ago, WNBA player Brittney Griner was arrested in Russia on drug charges. According to reports, the Star arrived at an airport near Moscow where authorities found Vape cartridges and hashish oil in her luggage. Grindr faces serious charges that could carry a possible sentence of 5-10 years in a Russian prison. Experts warn that Griner's arrest could be used as a bargaining chip. Partner at Stroock & Stroock & Lavan, Thomas Firestone, joined Cheddar to discuss more.
On a live broadcast, an employee on a Russian state news television channel held up a sign protesting propaganda about the war in Ukraine. Ruslan Deynychenko, executive director of the Ukrainian fact-checking organization StopFake, joined Cheddar News to discuss what he called the misinformation spread to the Russian people about the invasion. "They are not about informing people they are about brainwashing people," he said. "Russian government uses their media as an instrument, as a tool, of their foreign policy."
Student loan payments for millions of borrowers are set to resume on May 1st. However, signals from the Department of Education show that the date may be pushed back. Once again, it's been pushed back a few times. Initially, the Biden Administration stated loan payments would resume as the economy continues to show signs of recovery. Student Loan Expert and Author of "How to Appeal for More College Financial Aid", Mark Kantrowitz, joined Cheddar to discuss more.
