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.
Many had expected Fed Chair Jerome Powell to clarify the timing of the long-anticipated taper following Wednesday's meeting of the Federal Open Market Committee (FOMC), and he didn't disappoint.
President Biden used his first address before the U.N. General Assembly to declare that the world stands and at an “inflection point in history” and that the world must act with haste to move quickly and cooperatively to address the festering issues.
The White House says President Joe Biden will ease foreign travel restrictions into the U.S. beginning in November.
The demonstration Wednesday centered on fears Bukele may try for re-election in 2024. Protests also voiced concern about the president's concentration of power and the controversial decision to make the cryptocurrency Bitcoin legal tender.
President Joe Biden is trying to hammer out the world’s next steps against rapidly worsening climate change in a private, virtual session with a small group of other global leaders.
The Federal Reserve is reviewing the ethics policies that cover the financial holdings of its senior officials in the wake of disclosures that two regional Fed presidents engaged in extensive trading last year.
North Korea said it successfully launched ballistic missiles from a train for the first time and was continuing to bolster its defenses, after the two Koreas test-fired missiles hours apart in dueling displays of military might.
The slaughter of 1,428 white-sided dolphins as part of a four-century-old traditional drive of sea mammals into shallow water in the Faeroe Islands where they are killed has reignited a debate in the small North Atlantic islands.
The U.S., Britain and Australia have announced they’re forming a new security alliance that will help equip Australia with nuclear-powered submarines.
The number of Americans seeking unemployment benefits moved up last week to 332,000 from a pandemic low, a sign that worsening COVID-19 infections may have slightly increased layoffs.
