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.
New Zealand appears to have eradicated the coronavirus for now after health officials said the last known infected person has recovered.
Energy company BP says it will cut its global workforce by 10,000 jobs amid the ongoing impact of the COVID-19 pandemic.
The Trump administration is backing away from a threat to ban all flights to the U.S. by Chinese airlines. It will allow Chinese carriers to operate a total of two flights a week between the two countries.
This year, due to the coronavirus pandemic, Governor Phil Murphy's mandates have kept amusement parks, aquariums, and many local businesses on the beach closed to protect the public health.
Steve Boland, board member at Minnesota Freedom Fund, talks overwhelming support, cash bail reform, and staying active as an activist.
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.
Stocks closed out the week with a bang after a closely watched report on the job market surpised investors by showing that employers added to their payrolls last month, defying predictions they would slash more jobs.
Negotiators for the city of Minneapolis have agreed with the state to ban the use of chokeholds by police and to require police to report and intervene anytime they see an unauthorized use of force by another officer.
On Wednesday morning, a crane lifted Philadelphia's most controversial public statue from the steps of the Municipal Services Building near City Hall.
Eugene Scalia breaks down the May jobs report. Secretary of Labor expects uptick of jobs added to continue as states reopen.
