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.
Businesses from coast-to-coast were forced to closed their doors when the coronavirus outbreak arrived in the U.S. Practically overnight, 33 million Americans (so far) suddenly lost their livelihoods. Cheddar is speaking to some of these workers who have found themselves unexpectedly unemployed in today's turbulent environment.
Unprecedented pressure from the coronavirus pandemic has forced the closure of roughly 35 percent of food pantries in New York City, just as the number of residents facing food insecurity has surged by about 800,000 to two million.
To restaurants and bars struggling to stay open for food delivery and pick-up, the ability to add high-margin cocktails and mixed drinks to the check has provided a crucial revenue stream.
Nokomis Fairbanks started tattooing professionally three years ago and recently set up shop at Oracle Tattoo Guild in Lexington, Kentucky. Today, she has no idea when she will be able to pick up her needle again.
Wall Street rallied for its biggest gain in a week as investors find more reasons to hope that the worst of the economic plunge due to the coronavirus pandemic may have passed.
The Justice Department says it's dropping its criminal case against President Donald Trump’s first national security adviser Michael Flynn.
Louis DeJoy, a North Carolina businessman and Trump donor, has been tapped to replace outgoing Postmaster General Megan J. Brennan, an Obama appointee.
The Trump administration has shelved a set of detailed documents created by the nation’s top disease investigators meant to give step-by-step advice to local leaders deciding when and how to reopen public places during the still-raging pandemic.
Stocks climbed in early trading on Wall Street Thursday as reports suggested that even though the economy is still suffering severely, the pace of pain may be decelerating.
President Donald Trump on Wednesday reversed course on plans to wind down his COVID-19 task force, attempting to balance his enthusiasm for “reopening” the country with rising infection rates in parts of the nation.
