The highway sits closed as emergency crews finish cleaning following accidents caused by ice and low temperatures in Richardson, Texas, Thursday, Feb. 11, 2021. A winter storm brought a coating of ice to parts of Texas. (AP Photo/LM Otero)
At least five people were killed Thursday in a massive crash involving 75 to 100 vehicles on an icy Texas interstate, police said, as a winter storm dropped freezing rain, sleet, and snow on parts of the U.S.
The number of injured was still unknown as police were still working the accident on Interstate 35 near downtown Fort Worth, police said. Police set up a reunification center for family members at a community center.
Farther south, in Austin, more than two dozen vehicles were involved in a pileup on an icy road, and one person was injured, emergency officials said.
Elsewhere, ice storm warnings were in effect from Arkansas to Kentucky, while another winter storm was predicted to bring snow to Mid-Atlantic states, the National Weather Service said.
More than 125,000 homes and businesses were without electricity Thursday morning, largely in Kentucky and West Virginia, according to the website poweroutage.us, which tracks utility reports.
Meanwhile, officials in central Kentucky were urging people to stay home due to icy conditions.
Kentucky Gov. Andy Beshear said state offices would be closed due to the weather. He declared a state of emergency, which he said would free up funding and help agencies coordinate as they respond to reports of slick roads and downed power lines.
Crews were responding to numerous calls of downed icy tree limbs and power lines, Lexington police said in a tweet that urged people not to travel “unless absolutely necessary.”
Washington DC and the surrounding areas saw a record breaking snow storm Monday as a strong storm system works its way across the eastern U.S. The extreme weather event caused extensive damage in the greater Washington area, leaving thousands in the region without power. Jonathan Porter, Chief Meteorologist, AccuWeather, joined Wake Up with Cheddar to discuss the fierce storm.
Airlines canceled more than 3,000 flights on Monday over severe weather and crew shortages. The cancellations come on one of the busiest travel days of the holiday season, and is a continuation of the industry-wide disruption that started before Christmas. Thomas Pallini, Aviation Reporter for Insider joined Wake Up with Cheddar to discuss.
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.
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.
There is a new player in the mobile app stock trading space.
Zingeroo recently announced a funding round of $8.5 million. The company says it aims to bring 'friendly competition' to stock trading, by literally breaking trading down into daily and weekly competitions between friends. Zingeroo also says it hopes its new approach can make trading more accessible, educational, and social than ever before. Zingeroo co-founder and CEO Zoe Barry joins Cheddar News' Closing Bell for more.
Sweta Chakraborty, U.S. President of We Don't Have Time and climate change expert, joins Cheddar News to discuss how mining the proper resources for the clean energy sector is crucial.
Throughout 2021, several Americans found themselves finding a renewed emphasis on what work-life balance looked like. The labor market experienced several people either quitting their jobs or leaving the workforce altogether. Editor at Labor Notes Alexandra Bradbury, joined Cheddar to discuss more.
Whitney Johnson, CEO of human capital consultancy Disruption Advisors and author of 'SMART GROWTH: How to Grow Your People to Grow Your Company', joins Cheddar News to discuss the rise in entrepreneurship and explores new opportunities to grow personally and professionally.
