Former US Vice President and Democratic presidential hopeful Joe Biden speaks about COVID-19, known as the Coronavirus, during a press event in Wilmington, Delaware on March 12, 2020. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty Images)
Former Vice President Joe Biden focused his televised remarks on coronavirus Thursday on protecting and supporting American workers, emphasizing the importance of accurate and honest information about the spread of COVID-19, and criticizing the Trump administration's handling of the crisis.
Speaking from Delaware, the state he represented in Congress for nearly 40 years, the former vice president criticized President Donald Trump for hollowing out government agencies, presenting guidance contradicting health officials, and failing to act quickly to understand and track the outbreak.
"Unfortunately this virus laid bare the severe shortcomings of the current administration. Public fears are being compounded by a pervasive lack of trust in this president. Fueled by adversarial relationships with the truth that he continues to have," he said.
Biden released his own plan in response to the spread of coronavirus, calling it a roadmap for what to do right now and invited the current administration to follow its guidelines while also slamming the White House for its "severe shortcomings" during the crisis.
"President Trump is welcome to adopt all of it today," he said of the strategy posted to his website, which proposes free testing and treatment, emergency paid leave to individuals affected, and "mounting an effective national emergency response."
The current Democratic primary frontrunner also announced a shift in his campaigning plans going forward, with virtual events replacing upcoming rallies and gatherings. Some U.S. states have already banned large, public gatherings.
Biden's remarks come as Congress, struggling to pass a bipartisan aid package, suspended its recess scheduled for next week. It was revealed the President had met a Brazilian official on Saturday who has since tested positive for the novel coronavirus. Despite this, the president not been tested according to the White House.
The former vice president also hearkened back to his time in the Obama administration and its handling of the Ebola crisis, which struck in 2014, and pointed out the Trump administration's elimination of the office that President Obama relied on during that outbreak.
Though vaccines will take some time, Biden said that therapeutics should be available soon and referenced the 21st Century Cures Act he had championed when it passed during his time in office. The law expedited the testing and approval of experimental medical treatments.
Of the likely economic impacts of the COVID-19 outbreak, the former VP said, "This crisis will hit everyone, but it will hit folks who live paycheck to paycheck the hardest, including working people and seniors, Another tax cut to Google or Goldman or millionaires won't get the job done."
Biden's rival Senator Bernie Sanders delivered his own remarks later in the day on how to respond to the crisis on Thursday afternoon as well, and former candidate Senator Elizabeth Warren delivered her own remarks on the coronavirus weeks ago before she dropped out of the race.
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.
