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.
California Gov. Gavin Newsom has extended the closure of bars and indoor dining statewide and has ordered gyms, churches and hair salons closed in most places as coronavirus cases keep rising.
The United States is grappling with the worst coronavirus outbreak in the world, as Florida shattered the national record for a state’s largest single-day increase in new confirmed cases with a reported 15,299.
Julian Castro, former secretary of Housing & Urban Development, talks about the importance of stable housing for Americans. Castro also dissects former VP Joe Biden's plan to combat the housing crisis.
The federal government incurred the biggest monthly budget deficit in history in June as spending on programs to combat the coronavirus recession exploded while millions of job losses cut into tax revenues.
A spokeswoman says the first lady is focused on being a mother and a wife, and serving the country.
The U.S. Roman Catholic Church used a special and unprecedented exemption from federal rules to amass at least $1.4 billion in taxpayer-backed coronavirus aid, with many millions going to dioceses that have paid huge settlements or sought bankruptcy protection because of clergy sexual abuse cover-ups.
Derrick Johnson, president and CEO of the NAACP, talked about the discussions with Facebook's leadership surrounding hate speech and misinformation.
New York City Mayor Bill de Blasio grabbed a roller Thursday to paint Black Lives Matter in front of the namesake Manhattan tower of President Donald Trump.
The Supreme Court has issued a mixed verdict on demands for President Donald Trump’s financial records.
More than a decade after the term was coined by columnist Thomas Friedman in the New York Times, there is a Green New Deal proposal in Congress. Rep. Alexandria Ocasio-Cortez (D-NY) and Sen. Ed Markey (D-MA) have proposed a formal resolution that would frame climate change, economic sustainability and social justice together under a unifying theme, calling for a Depression-era national mobilization similar to FDR's New Deal, and serving as a litmus test for Democratic presidential candidates going forward.
