President Joe Biden called on Congress Friday to "swiftly" pass the COVID-19 Hate Crimes Act days after six Asian American women were killed in Georgia.
The bill, sponsored by Rep. Grace Meng (D-N.Y, District 6), would create a position at the Justice Department that would specifically deal with handling and reviewing hate crimes related to the pandemic. A recent study by the Center for the Study of Hate and Extremism at the California State University, San Bernardino, found that although hate crimes dropped overall in the U.S. in 2020, crimes against people of Asian descent jumped nearly 150 percent. If passed, the new law would also expand resources dedicated to stopping these crimes.
"It also means working with law enforcement, training law enforcement to communicate with Asian American communities, and helping those communities be able to report those crimes," Rep. Mark Takano (D- Calif. 41st District) told Cheddar.
President Joe Biden and Vice President Kamala Harris met with Asian American leaders in Atlanta on Friday, three days after eight people were killed at area spas, six of the victims being women of Asian descent. Biden urged Congress to pass the legislation so the federal government can offer aid.
Takano noted that Biden has already signed executive orders directing agencies to turn their attention to the rise of violence against the Asian American and Pacific Islander communities. He said it will take strong leadership to guide the country in the right direction, noting the rhetoric Americans have heard from former President Donald Trump.
"This has been a huge change in tone from the last president," he said.
Americans need "leadership that doesn't use words like 'kung flu' or 'China virus' to describe a pathogen that comes from nature and therefore leave a whole population of Asian Americans subject to being stigmatized and blamed for something that they're not responsible for," Takano added.
The congressman said former President Trump's language toward Asians was simply an attempt to "distract from his low, inadequate ways."
Though the California representative said it is often difficult to prove hate crimes in a courtroom, creating systems where individuals can safely and confidently report incidents could help improve chances for more favorable outcomes.
"Regardless of what the assailant said, the murderer said, and how the local sheriff characterized it," said Takano, "It very much looks to those of us in the Asian community and broader, that this was really an attack on people based on their descent, their Asian-ness. But the legal standard is a much different thing."
We are just one day away from what has been called the most influential tech event in the world. CES 2022 will officially kick off on Wednesday in Las Vegas, but the annual tech summit is being impacted by COVID-19, like so many other recent events. The Consumer Technology Association originally planned for a hybrid event to take place from January 5-8, with some in-person events and some virtual; however, a few big-name companies announced they will not be attending in-person, so the CTA decided to shorten the event by one day, with it now ending on Friday. Consumer electronics senior analyst Will Greenwald joins Cheddar News' Closing Bell to discuss.
California's new composting law will affect what residents do in their kitchens. As of this week, Californians will have to recycle excess food in an effort to reduce emissions caused by food waste. Cities and counties will turn recycled food into compost or use it as a renewable energy source. California's new law is the largest mandatory residential food waste recycling program in the country. Rachel Wagoner, Director of the California Department of Resources, Recycling and Recovery called the law 'the biggest change to trash' since recycling started in the 1980s. She joined Cheddar Climate to discuss.
Fast-casual restaurant chain Sweetgreen is rolling out its first salad subscription service called sweetpass as it looks to customers tackling new year weight loss and health goals. Members will receive up to 30 percent off of purchases.
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.
