It’s been Immigration Week on Capitol Hill but now it’s time to move on. So what will drive headlines in the week ahead? Here’s a look at the Washington Week Ahead.
TECH HEARING: Leaders of major Silicon Valley companies like Facebook, Alphabet, and Twitter will be testifying in front of subcommittees of the House Energy and Commerce Committee about how their platforms are handling misinformation and disinformation. Spoiler: not well, according to lawmakers. Expect officials on both sides to criticize the platforms. Democrats will likely focus on the role of Google, Facebook, and Twitter in the January 6 insurrection and misinformation generally while Republicans will attempt to get to the root of what they see as anti-conservative bias.
BIDEN SPEAKS: President Joe Biden will take center stage to answer questions from journalists for the first time in his presidency. Biden has received a lot of criticism for not taking questions up to this point. The White House has pointed to COVID-19 restrictions as a major reason why, but after four years of frequent access to the U.S. president, reporters are hoping for more comments directly from the Commander-in-Chief.
FOR THE PEOPLE: The Senate will take up H.R. 1, the “For the People Act,” that passed the House of Representatives early in March. The comprehensive voting rights legislation would expand early voting, enact automatic voter registration and make Election Day a federal holiday. While the Senate is limited by the legislative filibuster, this will be the first time the bill will even be debated on that side of Capitol Hill.
INFRASTRUCTURE WEEK...NO, REALLY: It’s Infrastructure Week! No, really. Transportation Secretary Pete Buttigieg will be testifying in front of the House Transportation Committee to sell Biden’s infrastructure plan. The $2 trillion plan would make major investments in green energy and renewable technology while also updating that nation’s crumbling roads and bridges. But, Republicans are not sold on the hefty price tag, especially right after another nearly $2 trillion bill passed out of Congress: the American Rescue Plan Act.
Catching you up on the stories you need to know this morning, the U.S. could soon get its first major gun safety law in years, the House Select Committee investigating the January 6th attack on the U.S. capitol holds its second hearing, and today might just be the day the Supreme Court overturns Roe v. Wade, and decides on new gun laws.
U.S. stocks closed Thursday at their lowest levels of the trading day, as investors continue to eye inflation ahead of the May CPI report out Friday. Art Hogan, Chief Market Strategist for National Holdings, joins Cheddar News' Closing Bell to discuss.
The PGA has suspended 17 golfers, including Phil Mickelson and Dustin Johnson, who are competing in a Saudi-backed golf event outside of London. In a memo, commissioner Jay Monahan said "these players have made their choice for their own financial-based reasons", announcing they are ineligible to participate on the PGA tour or any other tours it sanctions. Hugh Kellenberger, Senior Managing Editor at the Athletic, breaks down the controversy, and what might happen next.
U.S. stocks closed Friday at session lows after May CPI data showed inflation in the U.S. has not peaked and is still rising rapidly. For the week, the S&P fell 5.06%, the Dow lost 4.58%, and the Nasdaq dropped 5.60%, marking the worst week since January for all three major indexes. Mike Zigmont, Head of Trading and Research at Harvest Volatility Management, joins Cheddar News' Closing Bell to discuss.
Benefits brokerage, Nava Benefits, raised $40 million in a Series B round. Nava says it's on a mission to fix healthcare, one benefits plan at a time. The startup is working to bring benefits to small business that are normally available to only Fortune 500 companies. Brandon Weber, Co-Founder and CEO of Nava Benefits, joined Cheddar News' Closing Bell to discuss.
