Congresswoman Bonnie Watson Coleman represents New Jersey's 12th district. She says a majority of people in the country, and her constituents, will see a tax increase under the new law. The Congresswoman points out that estate tax eliminations will benefit the richest Americans, including President Trump.
New Jersey and New York are among the highest-taxed states in the country, which is why many Republicans from both voted "no" on the bill. The congresswoman says they are on the right side of history because the bill will hurt middle-class families in their states.
Watson Coleman had a message for constituents: stay awake, stay alert, stay mobilized. The 2018 midterm elections, she says, will be an opportunity for voters across the country who want to change the tax bill to be heard.
Tax filing season is officially upon us, just as the IRS returns to full strength following the five-week government shutdown. But tax filers should expect some turbulence along the way, said Nicole Kaeding, director of federal projects at the Tax Foundation, a tax policy think tank.
These are the headlines you Need 2 Know for Monday, Jan. 28, 2019.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
President Trump announced on Friday that he reached a tentative deal with Democrats to reopen the government temporarily while the two sides continue to negotiate on border security. The continuing resolution would fund the government at current levels for three weeks, until Feb. 15. While Trump framed the deal as a victory, he was essentially agreeing to the same proposal that was offered by Democrats before the shutdown, which he had rejected.
President Trump's longtime ally Roger Stone was arrested Friday in connection with Robert Mueller's Russia probe. The FAA reported delays at several major airports across the U.S. because of an increase in employees taking sick leave at air traffic control centers. And Lois Backon, head of Corporate Partner Marketing for JPMorgan Chase, tells Cheddar how the bank partners with celebrities to share their financial planning tips.
Early Friday morning, FBI agents in riot gear arrested Roger Stone, a longtime Trump adviser, at his Florida home. He was charged with five counts of making false statements, one count of witness tampering and one count of obstruction, related to Special Counsel Robert Mueller's investigation into Russian meddling in the election.
These are the headlines you Need 2 Know for Friday, Jan. 25, 2019.
As the partial government shutdown enters its sixth week, it's up to moderates on both sides of the aisle to compromise on a solution to reopen the government, even if it means giving President Trump a partial victory on border funds, Sen. Mark Warner (D-Va.) told Cheddar. "Let me be clear, I'm willing to support more border security," the Virginia Democrat told Cheddar's J.D. Durkin on Wednesday. "But we ought to do it without these lives being held in hostage. Let's get the government open, even if it's for a few weeks, to let us negotiate."
It was an urgent warning from a group of professionals not known for a proclivity to scare the public. "In our risk averse industry, we cannot even calculate the level of risk currently at play, nor predict the point at which the entire system will break. It is unprecedented," the statement read in part. It was issued jointly on Wednesday, from the unions representing America's air-traffic controllers, pilots, and flight attendants.
These are the headlines you Need 2 Know for Thursday, Jan. 24, 2019.
