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.
Britain’s Prince Harry has sharply attacked the failure of social media companies to challenge hate online, revealing that he warned the chief executive of Twitter ahead of the Jan. 6 Capitol riots that the site was being used to stage political unrest.
Prices for U.S. consumers jumped 6.2% in October compared with a year earlier as surging costs for food, gas and housing left Americans grappling with the highest inflation rate since 1990.
Mississippi's 2018 law banning almost all abortions after 15 weeks of pregnancy, could be the one to show whether a strong conservative majority on the Supreme Court will uphold or overturn Roe v. Wade
The U.S. has fully reopened its borders with Mexico and Canada and lifted restrictions on travel that covered most of Europe.
America’s employers stepped up their hiring in October, adding a solid 531,000 jobs, the most since July and a sign that the recovery from the pandemic recession may be overcoming a virus-induced slowdown.
The number of Americans applying for unemployment benefits fell to a fresh pandemic low last week, another sign the job market is healing after last year’s coronavirus recession.
The Federal Reserve made official on Wednesday its plan to wind down the aggressive monthly bond-buying program that has defined the central bank's pandemic response.
Fed watchers are expecting Jerome Powell to announce a timeline for tapering bond purchases on Wednesday afternoon following the meeting of the Federal Open Market Committee.
World leaders are promising to protect the world’s forests, cut methane emissions and help South Africa wean itself off coal at the U.N. climate summit.
A majority of the Supreme Court are signaling that they would allow abortion providers to pursue a court challenge to a Texas law that has virtually ended abortion in the nation’s second-largest state after six weeks of pregnancy.
