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.
J&J Contamination, New Israeli Government, Djokovic wins. Here are the headlines you Need2Know for Monday, June 14, 2021:
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
OhmConnect, an Oakland-based company, is offering a demand-side solution that could end up playing a crucial role in helping California avoid rolling blackouts this summer.
J&J Shelf Life, Pulse Nightclub Memorial, Consumer Prices Rise. Here is all the news you need to know for Friday, June 11, 2021.
President Joe Biden is calling on global leaders to join him in sharing coronavirus vaccines with struggling nations around the world.
Inmates at an Oklahoma prison began receiving special computer tablets this week.
American consumers absorbed another surge in prices in May — a 0.6% increase over the past month and 5% over the past year, the biggest 12-month inflation spike since 2008.
The number of Americans applying for unemployment benefits fell for the sixth straight week as the U.S. economy reopens rapidly after being held back for months by the coronavirus pandemic.
Now that El Salvador is taking bitcoin nationwide, other Central and South American countries are coming forward with their own proposals in what's shaping up to be a regional race to become the next bitcoin hub.
The White House dropped Trump-era executive orders that attempted to ban the popular apps TikTok and WeChat and will conduct its own review.
