After voting to block witnesses, the Senate voted Friday to approve a resolution setting the final day of the president’s impeachment trial — and his likely acquittal — for Wednesday, after both the Iowa Caucuses and President Donald Trump's State of the Union address.
Senators debated on how to move forward during a recess after the witness vote’s conclusion. After nearly 90 minutes, it appeared that Senate leaders Mitch McConnell and Chuck Schumer had reached a deal that would pause the trial until Monday and provide each senator with 10 minutes to explain his or her decision on the president’s conviction or acquittal. The Senate voted on the organizing resolution and Democrats brought four amendments to the floor — all of which were defeated.
Chief Justice John Roberts answered a question from Schumer on whether he would cast a tie-breaking vote. Roberts said it would be “inappropriate for me” to break a 50-50 tie.
One of the amendments brought to the Senate floor tonight on impeachment rules would have required Roberts to rule on motions for evidence.
Sen. Roy Blunt (R-Mo.) had previously told reporters the expectation moving forward would not include closed deliberations. "I'm opposed to it and I believe we will not have any closed sessions," he said. The plan voted on did not include such a provision.
The new resolution provided a timetable for the end of the third impeachment trial of a sitting U.S. president. The Senate will recess for the weekend until Monday at 11 a.m. Then House Managers and the defense counsel will each have two hours to make closing arguments. Senators will be allowed to give floor speeches for parts of Monday, Tuesday, and Wednesday. The vote would be scheduled for 4 pm Wednesday.
Sen. Tim Scott (R-S.C.) said, upon leaving the GOP meeting, that "the process is important, so having the Democrats buy into this final arrangement, I think is more important than just shoving it down their throats because sooner or later the shoe will be on this foot."
Senators will vote on two articles of impeachment: abuse of power and obstruction of Congress related to allegations President Trump pressured Ukraine to announce investigations into his political rival, former Vice President Joe Biden, and his son Hunter by withholding nearly $400 million in security aid.
Democrats had been pushing to hear from new witnesses since the trial began nearly two weeks ago, especially after John Bolton, the former national security advisor, said he would testify and new evidence was reported by the New York Times indicated Bolton's unpublished manuscript contained details in which the president told advisors to withhold aid to Ukraine as early as last spring. Only two Republicans — Senators Mitt Romney (R-Utah) and Susan Collins (R-Maine) — voted with the Democrats.
A new report from ProPublica and the Washington Post found that Facebook Groups played a major role in the spread of misinformation linked to the January 6 insurrection with more than 650,000 posts claiming that Joe Biden's election victory was illegitimate.
Millions of Americans with young children have relied on the child tax credit since the federal government began issuing checks in July 2021. The last round of payments was sent out just before the Christmas holiday — at the same time as the omicron variant surged. Leah Hamilton, associate professor of social work at Appalachian State University, joined Cheddar to discuss what the end to the tax credit means as the U.S. sees the end of many relief programs and its highest number of COVID cases since the start of the pandemic. "It'll become harder for families to meet their basic needs, increasing national childhood poverty rates and the proportion of families who have difficulty putting food on the table, maintaining stable housing, and paying their bills," Hamilton said. She also pointed to research that the credit as a long-term investment in children offsets claims that it contributes to macroeconomic impacts like inflation.
U.S. President Joe Biden spoke with Ukrainian President Volodymyr Zelensky over the week-end, just days after he spoke with Russian President Vladimir Putin. The call comes as Washington prepares to meet with Moscow on January 10, as tensions mount over Russia's military build up near its border with Ukraine. Cheddar News speaks with Mustafa Tameez, a former advisor to the U.S. Department of Homeland Security, about the issue.
Several Silicon Valley insiders are being accused of contorting a 1990s-era tax break to avoid taxes on millions of dollars of investment profits. The tax break is known as the qualified small business stock exemption, and it allows early investors in certain companies to avoid half of the taxes on up to $10 million in capital gains. A piece recently published in the New York Times says venture capital firms like Andreessen Horowitz replicated the tax exemption by giving shares of companies to friends and family, who would otherwise face a 23.8% capital gains bill. The CEO of Roblox is also accused of replicating the tax break for his family members at least 12 times. Although the loophole known as 'stacking' is considered to be legal, the Times piece implies that the exemption has been manipulated for the ultra-wealthy to become more wealthy. Greycroft co-founder and Chairman Emeritus Alan Patricof joins Cheddar News' Closing Bell to discuss.
Chris Sommerfeldt, City Hall reporter for the New York Daily News, joins Cheddar News' Closing Bell, where he discusses both the wins and losses of Bill de Blasio's eight years as New York City Mayor.
The push to regulate the gig worker economy is gaining steam as the share of workers who participate in freelancing through businesses like Uber and Lyft have also exponentially grown during the pandemic. Employment attorney Mark Kluger, founding partner at Kluger Healey, LLC, joined Cheddar to break down how the battle to reclassify gig workers will continue in the new year, and why the issue continues to generate conflict. "More and more workers are using gig work as their primary source of income and as a result of that they are not like employees in the sense that they don't have benefits like health insurance," Kluger noted.
2021 saw markets continue to be impacted by the onslaught of the coronavirus pandemic -most recently in the form of the Omicron variant- in addition to the global supply chain shortage, and increased inflation. But it wasn't all bad news, as crypto soared throughout the year, and meme stocks continued to have a moment. With the year coming to a close, investors are keeping an eye out to see if they should expect more of the same in the new year. Chris Vecchio, Senior Analyst, at DailyFX tells us what market trends to be on the watch for in 2022.
