Democrats Try to Hang Net Neutrality Vote on GOP in Midterms
*By Britt Terrell*
Senate Democrats are seeking to make net neutrality a central issue in November's midterm election by putting Republicans on the record against an issue that most Americans support.
If the Democratic strategy works, it could help them win a Congressional majority, said Ross Rubin, principal analyst at Reticle Research.
"It's an opportunity for the Democrats to stand up and say 'we're on the side of the consumer,'" Rubin said Thursday in an interview with Cheddar. "Public opinion polls have shown that most Americans favor net neutrality, and this is an opportunity with the midterms coming up to say, 'here's how we voted, and the Republicans did not stand with us.'"
Three Republicans joined all of the Senate's Democrats to [pass a resolution](https://www.cnet.com/news/senate-votes-to-restore-net-neutrality-heres-how-every-senator-voted/) Wednesday to preserve net neutrality rules that ensure internet service providers provide equal access to all content and applications without showing favor to certain products or sites.
It is unlikely the House will pass a similar resolution ahead of the Federal Communication Commission's June 11 deadline for the repeal of net neutrality rules. But President Trump, who in the past has pivoted on resonant issues that could gain him favor with voters, might be convinced to keep net neutrality in place, Rubin said.
It was Trump's chosen FCC chairman, Ajit Pai, who pushed to repeal the net neutrality rules on the grounds that regulation prevents the businesses that build internet's infrastructure from innovating and re-investing.
"He was in support when Chairman Pai first announced the initiative," to get rid of net neutrality, Rubin said of Trump. But if Democrats' strategy to make it a more crucial midterm election issue succeeds, "it might be a chance for a populist appeal," he said.
For the full interview, [click here](https://cheddar.com/videos/senate-votes-to-keep-net-neutrality-rules-2).
A new report from ProPublica and the Washington Post found that Facebook Groups played a major role in the spread of misinformation linked to the January 6 insurrection with more than 650,000 posts claiming that Joe Biden's election victory was illegitimate.
Millions of Americans with young children have relied on the child tax credit since the federal government began issuing checks in July 2021. The last round of payments was sent out just before the Christmas holiday — at the same time as the omicron variant surged. Leah Hamilton, associate professor of social work at Appalachian State University, joined Cheddar to discuss what the end to the tax credit means as the U.S. sees the end of many relief programs and its highest number of COVID cases since the start of the pandemic. "It'll become harder for families to meet their basic needs, increasing national childhood poverty rates and the proportion of families who have difficulty putting food on the table, maintaining stable housing, and paying their bills," Hamilton said. She also pointed to research that the credit as a long-term investment in children offsets claims that it contributes to macroeconomic impacts like inflation.
U.S. President Joe Biden spoke with Ukrainian President Volodymyr Zelensky over the week-end, just days after he spoke with Russian President Vladimir Putin. The call comes as Washington prepares to meet with Moscow on January 10, as tensions mount over Russia's military build up near its border with Ukraine. Cheddar News speaks with Mustafa Tameez, a former advisor to the U.S. Department of Homeland Security, about the issue.
Several Silicon Valley insiders are being accused of contorting a 1990s-era tax break to avoid taxes on millions of dollars of investment profits. The tax break is known as the qualified small business stock exemption, and it allows early investors in certain companies to avoid half of the taxes on up to $10 million in capital gains. A piece recently published in the New York Times says venture capital firms like Andreessen Horowitz replicated the tax exemption by giving shares of companies to friends and family, who would otherwise face a 23.8% capital gains bill. The CEO of Roblox is also accused of replicating the tax break for his family members at least 12 times. Although the loophole known as 'stacking' is considered to be legal, the Times piece implies that the exemption has been manipulated for the ultra-wealthy to become more wealthy. Greycroft co-founder and Chairman Emeritus Alan Patricof joins Cheddar News' Closing Bell to discuss.
Chris Sommerfeldt, City Hall reporter for the New York Daily News, joins Cheddar News' Closing Bell, where he discusses both the wins and losses of Bill de Blasio's eight years as New York City Mayor.
The push to regulate the gig worker economy is gaining steam as the share of workers who participate in freelancing through businesses like Uber and Lyft have also exponentially grown during the pandemic. Employment attorney Mark Kluger, founding partner at Kluger Healey, LLC, joined Cheddar to break down how the battle to reclassify gig workers will continue in the new year, and why the issue continues to generate conflict. "More and more workers are using gig work as their primary source of income and as a result of that they are not like employees in the sense that they don't have benefits like health insurance," Kluger noted.
2021 saw markets continue to be impacted by the onslaught of the coronavirus pandemic -most recently in the form of the Omicron variant- in addition to the global supply chain shortage, and increased inflation. But it wasn't all bad news, as crypto soared throughout the year, and meme stocks continued to have a moment. With the year coming to a close, investors are keeping an eye out to see if they should expect more of the same in the new year. Chris Vecchio, Senior Analyst, at DailyFX tells us what market trends to be on the watch for in 2022.