Christmas Comes Early for the GOP: Tax Reform Passes
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.
Sean O'Hara, President of Pacer ETF's, explains why investors who were down after Jerome Powell's remarks on inflation Monday were more optimistic on Tuesday as the major indexes ended the day near session highs.
Secretary of State Antony Blinken says the Biden administration has made a formal determination that Russian troops have committed war crimes in Ukraine.
As the Russian invasion of Ukraine continues, Ukrainian President Volodymyr Zelenskyy has assumed the role of an unlikely hero. Donning his iconic green t-shirt, the Ukrainian Leader has been praised for his relatable look and unique war-time approach as support pours in for his country under attack. Melinda Haring, deputy director, Eurasia Center, Atlantic Council joined Cheddar's Opening Bell to discuss Zelenskyy's rise from comedian to a leader on the world stage.
Federal Reserve Chair Jerome Powell went ahead and stirred the pot this week with a series of public talks signaling a firmer hand from the central bank going forward.
Turkish media reports say a second superyacht belonging to Chelsea soccer club owner and sanctioned Russian oligarch Roman Abramovich has docked in a resort in southwestern Turkey.
Catching you up on what you Need to Know on Mar 23, 2022, as NATO meets in Brussels to discuss Ukraine, mortgage rates rise, Justin Trudeau is set to lead Canada until 2025, tornadoes sweep through Louisiana, California may do away with SATs, and a Starbucks in Seattle unionizes.
Supreme Court nominee Ketanji Brown Jackson is declaring at her confirmation hearing that she will rule “without any agendas” if approved as the high court’s first black female justice.
In response to the Florida ‘Don’t’ Say Gay Bill,’ Disney employees staged a companywide walkout after CEO Bob Chapek was late to condemn the legislation. Cheddar News speaks with Maxx Fenning, president at Florida LGBTQ+ advocacy group PRISM on the issue.
