Sen. John McCain said this morning that he would vote in favor of the Republican tax bill. Grover Norquist is the founder and president of Americans for Tax Reform to explain why he's optimistic the bill will pass.
Norquist, who has been bullish on the bill all along, says the fact that McCain's made his announcement now, not later, means "we will have a signed bill for Christmas." He also points out how well the stock market has reacted to McCain's announcement.
Norquist also says that Americans shouldn't be concerned about the rapid passage of the legislation because "the Senate has had 70 hearings on this bill alone." During the vote, in fact, The anti-tax crusader thinks we may see a handful of Democrats who decide to associate themselves with the bill.
Senators Bob Corker (R-TN) and James Lankford (R-OK) want to add a trigger to the bill that would repeal certain tax cuts if growth is weaker than expected. Norquist says the danger of adding a trigger is, "it tells people, please invest $100, million in a new factory. And look at our shiny new tax code. Maybe. Sort of. It might change."
The vote is expected Thursday night or early Friday morning.
For full interview [click here](https://cheddar.com/videos/are-middle-class-americans-benefiting-from-president-trumps-tax-plan).
As half a million Ukrainians fled when Russia invaded its neighbor, some civilians chose to stay in harm's way. Igor Gamaniuk, a 17-year-old Ukrainian college student, joined Cheddar News to talk about his decision to remain in his beloved country and volunteer to support soldiers with food, clothing, and supplies. "Right now people are pretty calm in my town. We are trying not to panic. But we have to be cautious because every day and every night the siren could sound and we have to move away from the window or go to the nearest shelter," Gamaniuk explained.
As Russia continues to invade Ukraine, its tech outsourcing sector is at risk. Over the past few years, the country has become a popular outsourcing destination for American and European tech companies, but now the future of that industry is uncertain. Isabelle Bousquette, enterprise technology reporter, for The Wall Street Journal, discusses what repercussions the crisis might have on the industry, and what companies are doing to mitigate possible disruptions.
In a nearly 3,700 page UN report, climate scientists outline the imminent dangers caused by climate change, saying fossil fuels are 'choking humanity.' The report calls some of the impacts of global warming 'irreversible,' warning of extreme consequences in the near future. Kristie L. Ebi, Professor of Global Health and Environmental and Occupational Health Sciences, University of Washington joined Cheddar's Opening Bell to discuss.
Ukrainian President Volodymyr Zelenskyy has signed an application for Ukraine's membership in the European Union, pleading with the bloc to accept this request. It comes as Russian forces push further into Ukraine, forcing at least half a million refugees to flee. Benjamin Schmitt, Postdoctoral Research Fellow at Harvard University and Senior Fellow at the Center for European Policy Analysis, breaks down the latest in Ukraine.
A growing wave of major U.S. companies have taken steps to cut ties with Russia or offer support to Ukraine, as tensions escalate in the region. Exxon, Apple and Boeing are just the latest companies to make the move, following the likes of Google, Meta and BP who have all announced plans to exit the region in response to the conflict. Courtney Vinopal, Breaking News Reporter, Quartz joined Cheddar's Opening Bell for more.
A hospital basement in Ukraine’s coastal city of Mariupol has transformed into a bomb shelter and maternity ward amid shelling during Russia’s invasion.
World leaders are currently dealing with a handful of pressing issues, including Russia's invasion of Ukraine, inflation, and not to mention the COVID-19 pandemic; but it could be argued that the most pressing issue is one that has experienced its fair share of neglect in the past -- climate change. As tensions escalate between Russia and Ukraine, there is fear the focus on climate will once again be pushed aside. However, the White House appears to be making some effort to prevent that from happening. The White House Office of Science and Technology held a first-of-its-kind roundtable discussion with some of the nation's leading climate scientists on Thursday. Michael Mann, Director of the Earth System Science Center at Pennsylvania State University, and author of the book 'The New Climate War' joins Cheddar News' Closing Bell to discuss his experience as one of the climate scientists at the White House event.
Scott Clemons, Partner and Chief Investment Strategist at Brown Brothers Harriman, joins Cheddar News' Closing Bell, where he discusses the factors leading to the sell-off on Wall Street today and explains why uncertainty is worse than bad news for the investors.
U.S. stocks rebounded to end higher on Thursday after President Biden announced new sanctions against Russia following the country's attack on Ukraine. The Dow was down 859 points at its lowest point of the session, before ultimately finishing the day in the green. Melissa Armo, founder and owner of the Stock Swoosh, joins Cheddar News' Closing Bell to discuss.
