Early Wednesday morning the Senate passed its tax reform bill, hours after it was sent back to the House for a re-vote. Romina Boccia, Deputy Director at The Heritage Foundation, joins Cheddar to discuss how the bill will impact small companies and what she wishes was included in the legislation.
She predicts there will be more foreign direct investments into American companies, which will drive wages and create jobs in the U.S. It will encourage major corporations to move their headquarters to America. The corporate tax rate will drop from 35% to 21%, bringing American closer to the world's average, she says.
Plus, many are concerned about the removal of the state and city tax deduction. Boccia explains you can still deduct up to $10,000 with the cap now. She says only very wealthy individuals will feel an impact.
The U.S. Drug Enforcement Administration’s second-in-command has quietly stepped down amid reporting by The Associated Press that he once consulted for a pharmaceutical distributor sanctioned for a deluge of suspicious painkiller shipments and did similar work for the drugmaker that became the face of the opioid epidemic: Purdue Pharma.
The Biden administration on Wednesday proposed new guidelines for corporate mergers, took steps to disclose the junk fees charged by landlords and launched a crackdown on price-gouging in the food industry.
Former Secretary of State Henry Kissinger made a secret trip to China to meet with leaders.
Travis King, a private 2nd Class U.S. soldier, was identified as the individual that crossed the North and South Korean border earlier this week.
Several civil rights groups are suing Florida Gov. Ron DeSantis over his new immigration laws.
A judge in Iowa temporarily blocked the state's six-week abortion ban.
A U.S. national is being held in North Korea after crossing its closely-guarded border with South Korea.
The Biden administration and major consumer technology players on Tuesday launched an effort to put a nationwide cybersecurity certification and labeling program in place to help consumers choose smart devices that are less vulnerable to hacking.
Former President Donald Trump said Tuesday that he has received a letter informing him that he is a target of the Justice Department's investigation into efforts to undo the results of the 2020 presidential election, an indication that he could soon be indicted by federal prosecutors.
A judge in Iowa has temporarily blocked the state's new six-week abortion ban from taking effect.
