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 U.S. government is imposing new restrictions on Chinese tech giant Huawei by limiting its ability to use American technology to build its semiconductors.
The stock market ended a choppy day higher as a turnaround by banks and energy companies helped end a two-day losing streak.
New Jersey's governor issued long-awaited guidance Thursday to Jersey Shore towns on how to safely reopen their beaches as the summer season beckons amid the coronavirus outbreak.
Dr. Rick Bright is telling Congress that America faces the “darkest winter in modern history” unless its leaders act decisively to prevent a rebound of the coronavirus.
Sen. Richard Burr stepped aside as chairman of the Senate Intelligence Committee after the FBI served a search warrant for his phone as part of an ongoing insider-trading investigation tied to the coronavirus pandemic.
Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak led more companies to slash jobs even though most states have begun to let some businesses reopen under certain restrictions.
Stocks are falling in early trading on Wall Street Wednesday, tacking on more losses to their end-of-day slide from a day before.
House Speaker Nancy Pelosi has unveiled a more than $3 trillion new coronavirus aid package. It would provide nearly $1 trillion for states, cities and tribal governments to avert layoffs and another $200 billion in “hazard pay” for essential workers.
Republican Senators Marsha Blackburn and Martha McSally have introduced legislation that would allow U.S. citizens to file lawsuits against the Chinese Communist Party over the COVID-19 pandemic.
Wall Street fell to its biggest loss since the start of the month on worries about the downside of reopening the economy too soon.
