Among the more ambitious parts of Joe Biden's policy agenda, announced to little fanfare just before the pandemic hit back in February, is a relatively straightforward idea: make the federal housing voucher program — known as Section 8 — universal, available to every low-income family who qualifies.
That policy alone, the focal point of Biden's $640 billion housing plan, would go a long way toward solving this country's affordable housing crisis, according to Julian Castro, the former HUD secretary under President Obama.
The crisis has been exacerbated by COVID-19; an estimated 20 million people are at risk of eviction over the next several months, as state and local moratoriums enacted in March begin to expire along with the federal enhanced unemployment benefits. But even in the absence of an event like coronavirus, expanding Section 8 might be the single best — and most realistic — policy that a Biden administration could pass that would close the delta between families who need access to affordable housing, and families who actually get it, according to Castro. (Right now, an estimated 11 million people are left out).
While homelessness had been on the decline, it has ticked back up in recent years, partially, Castro said, because the Trump administration has not prioritized action on affordable housing
Education is clearly important, Castro said, but it gives a pass to the federal government's responsibility to invest in housing.
"There's no commitment in this administration to actually make those investments," he said, noting that there has been no action in the Republican-controlled Senate on the HEROES Act, which would provide $100 billion in emergency rental assistance for those affected by the pandemic.
But the root problem — spiking rents, not enough inventory, a general decline in the welfare state — long preceded coronavirus.
"The scale of the problem we have...requires significant federal government investment in more affordable housing," Castro said.
Markets opened lower this morning as investors rounded out a wild 2021. Jay Hatfield, CEO Infrastructure Capital Advisors, joined Cheddar's Opening Bell to discuss which sectors and industries to watch in the new year.
Markets opened higher as investors react to positive data on the labor front, with weekly jobless claims falling to 198,000 for the week ending December 25. Ross Mayfield, investment strategy analyst at Baird joined Cheddar's Opening Bell to discuss the market open.
U.S. officials spoke to Russian leaders for nearly eight hours earlier this week, in hopes of reducing tensions between Russia and Ukraine. Russia forced the west to the negotiating table by massing 100,000 troops near the Ukrainian border, sparking fears of an invasion, and then submitted a set of demands which the west rejected. Joel Rubin, former Deputy Assistant Secretary of State & President at Washington Strategy Group explains what the rest of the week might look like, and why other European nations may be on the side of the U.S.
Chicago schools opened their doors again following a dispute between the teachers union and the city over as the omicron variant continues to surge, but the safety issues they fought over weren't just limited to the Windy City. Dr. Bayo Curry-Winchell, family medicine and urgent care doctor, joined Cheddar in discussing concerns of parents, teachers, and students as schools try to operate amid COVID and noted what she's been observing as the number of infections among children rises. "I am seeing them contract the illness from so many different aspects," she said. "It could be from a fellow classmate. It could be from a parent. All of those things really play in the effect of transmission as well as contracting the illness."
Sen. John Hickenlooper (D-Colo.) is looking for clarification about a federal standard regarding THC impairment while driving. "I think in terms of marijuana, the fact that it's still a Schedule 1 narcotic — it's treated the same as heroin and cocaine — it means that we can't get standards developed," he said about the lack of cohesive regulations. The lawmaker also explained his previous opposition to cannabis legalization in Colorado when he was governor and why his position changed.
With Martin Luther King Jr. Day fast approaching, Rep. James Clyburn (D-S.C. 6th District), the House Majority Whip, talked about the importance of honoring the iconic civil rights activist. "As we consider the life and celebrate the legacy of Martin Luther King Jr., let's think about who and what we are as a country, and whether or not we're going to give up on the ideals of this country or continue to press forward," he said. Clyburn also discussed the push for new voting legislation, the For the People Act and the John Lewis Act, as well as the fate of the Senate filibuster.
One year after the attack on Capitol Hill, America is still deeply divided and politically broken. Zoe Tillman, senior reporter for BuzzFeed News, breaks down President Biden's remarks on January 6, and why the country disagrees on its views over the violent insurrection.
While the pandemic caused financial troubles for many, the unique circumstances of the last two years proved helpful to many Americans. Whether it was the federal government's stimulus checks, expanded unemployment insurance, or general lockdowns, recent data reveals that the covid-19 pandemic helped many reach financial security. Neale Godfrey, Financial Expert and New York Times #1 Best Selling Author joined Cheddar's Opening Bell to discuss.
U.S. markets opened higher despite red-hot inflation data which showed the highest surge in nearly 40 years. Jon Maier, CIO, GlobalX ETFs joined Cheddar's Opening Bell to discuss this historic report.
Meta's request to have a Federal Trade Commission antitrust lawsuit dismissed was rejected by a federal judge. Prosecutors presented enough evidence in their latest filing to go forward with the case accusing the tech giant of operating a social networking monopoly through Facebook, Instagram, and WhatsApp.
