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 number of Americans seeking unemployment benefits rose last week to 770,000, a sign that layoffs remain high even as much of the U.S. economy is steadily recovering from the coronavirus recession.
Federal Reserve Chairman Jerome Powell once again doubled down on the easy money policies that have defined the central bank's response to the pandemic-fueled economic downturn.
Stop AAPI Hate co-founder Cynthia Choi joined Cheddar to discuss anti-Asian hate crime reporting and what Americans can do to combat incidents of racial discrimination against Asian and Pacific Islander Americans.
With COVID cases rising in many places, governments are facing the dilemma to push on with a vaccine that is known to save lives or suspend use of AstraZeneca over reports of dangerous blood clots in a few recipients.
The police break up of a weekend vigil for a young murder victim abducted in London has touched off a national debate in Britain.
As a worldwide semiconductor shortage hammers American industries, trade groups are reaching out to the Biden administration with pleas to boost production in the U.S.
Microsoft President Brad Smith will testify before a House Judiciary subcommittee on Friday.
The Vatican has decreed that the Catholic Church won't bless same-sex unions, saying that God “cannot bless sin.”
More than a dozen congressional Democrats from New York, as well as both senators, put out statements in what appeared to be a coordinated release Friday morning, calling on the state’s governor, Andrew Cuomo, to resign.
What is up next for the Biden administration now that it has clocked its first major legislative win? This is your Washington Week Ahead.
