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.
Dr. Leana Wen, an emergency physician, explained the potential risks of taking hydroxychloroquine, and how President Trump needs to change his rhetoric for the sake of public health.
Even as some states begin the process of reopening their economies, Native American tribes are dealing with disproportionate challenges during the pandemic. The Navajo Nation, in particular, has suffered greatly. "The native communities are the ones that are suffering the most from the virus," former New Mexico Governor Bill Richardson told Cheddar. "Close to 30 to 40 percent of those that are afflicted are tribal members, especially the Navajo Nation."
Federal Reserve Chair Jerome Powell said Tuesday that the central bank’s lending programs for medium-sized businesses and state and local governments will be operational by the end of this month.
The U.S. House of Representatives narrowly approved a $3 trillion coronavirus stimulus bill on Friday that includes provisions for cannabis banking, even as opposition to the measure builds in the Republican-controlled Senate.
Stocks are mixed in early trading on Wall Street Tuesday, a day after the market had its biggest jump in more than five weeks.
Director of the Rhode Island Labor Department, Scott Jensen discussed how Amazon's tech aided the state amid the widespread unemployment during the pandemic.
President Donald Trump said Monday that he is taking a malaria drug to lessen symptoms should he get the new coronavirus, even though the drug is unproven for fighting COVID-19.
As large swaths of New York begin to reopen this weekend, mayors and local officials across the state are feeling the squeeze from budget cuts, furloughs, and frustrated constituents.
WHO Director-General Tedros Adhanom Ghebreyesus says he will begin an independent evaluation of the U.N. health agency’s response to the coronavirus pandemic “at the earliest appropriate moment.”
Congressman Peter King (R-N.Y. 2nd District) tells Cheddar exclusively that he plans to vote in favor of the $3 trillion coronavirus relief bill introduced by Democratic Speaker of the House Nancy Pelosi earlier this week.
