“It’s becoming more and more important for regular citizens to get off the sidelines,” Ravi Bhalla, Hoboken's newly-elected mayor, told Cheddar on Monday. Just last Tuesday he became the first Sikh to be elected to the office in the state of New Jersey. Prior to his victory, flyers that read “don’t let terrorism take over our town,” saturated his city. But Bhalla believes that Hoboken is not a city of hate, and the citizens showed that at the polls. “That I’m sitting here talking to y’all as the first Sikh mayor is evidence of that fact,” he said. “The response of the poll was, ‘we don’t accept that type of conduct here in Hoboken.’” But last Tuesday’s election represents an era in which people want to have their voices heard, a year that will go down in history as a time where people stood up to President Donald Trump, Bhalla said. The two-term Hoboken City Councilman is not the only one to make history in the 2017 elections. Journalist Danica Roem, for example, became the first openly transgender person elected to the state house of Virginia, unseating a 13-term incumbent. Bhalla, who’s lived in Hoboken for 17 years, remains hopeful that constituents can carry that spirit beyond this election season and effort change throughout the rest of President Trump’s tenure. “I am hopeful that every time policies come out of the Trump administration that are inimical to our rights as Americans, that, that would further and further get more people more activated and involved,” Bhalla said.

Share:
More In Politics
End of Child Tax Credit Could Mean Slide Back Into Increasing Child Poverty
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.
President Biden Speaks with Ukrainian President Ahead of Russia Meeting
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.
NYT Piece Claims Silicon Valley Investors and Founders Contorted Legal Tax Break to Avoid Taxes on Investment Profits
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.
This Year In Trivia
Hena Doba and Azia Celestino recap some of the biggest stories of the year, and learn a thing or two while they're at it. It's This Year in Trivia!
Looking Ahead to Regulating Uber, Lyft, and the Gig Economy in 2022
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.
2022 Promises a Mixed Bag of Market Predictions
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.
Load More