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 independent senator says multiple groups will benefit from the proceeds, including Meals on Wheels and Vermont community action agencies. He also says Getty Images will donate proceeds as part of a licensing agreement.
New York may have undercounted COVID-19 deaths among nursing home residents by thousands.
Employers weigh the pros and cons of potentially mandating workers get the COVID vaccine or incentivizing them to get the shots, a conundrum complicated by legal considerations.
Fed Chair Jerome Powell confirmed interest rates remaining near zero and continuation of asset purchases but declined to speak to the ongoing GameStop drama.
Stuck in the grip of a viral pandemic, the U.S. economy grew at a 4% annual rate in the final three months of 2020 and shrank last year by the largest amount in 74 years.
Stock Swings, Climate Change & Young Tony Soprano
President Joe Biden is undertaking what would be the most ambitious effort to cut America’s oil, gas and coal emissions and stave off the worst effects of climate change.
The Doomsday Clock remains as close to midnight as it has ever been – just 100 seconds to midnight.
The Federal Reserve pledged on Wednesday to keep its low interest rate policies in place even well after the economy has sustained a recovery from the viral pandemic.
New York Lt. Gov. Kathy Hochul spoke with Cheddar about why the time is right to pass marijuana legalization in light of COVID and budget shortfalls.
