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.
Experts warn that social media is a root cause of mental health issues among many young adults. Sen. Tammy Baldwin (D-Wis.), who co-wrote a letter to TikTok demanding why its algorithms promote toxic content, joined Cheddar to discuss.
The United Nations High Commissioner for Refugees (UNHCR) has reported that an estimated one million people have fled from Ukraine since Russia invaded. Christopher Boian, senior communications officer at UNHCR, joined Cheddar News to report on the current refugee crisis and what the world might expect if conditions continue to worsen. "We have planning figures that forecast as many as four million people could be forced to flee Ukraine," he said. "But that very much depends on how the conflict underway in that country at the moment unfolds in the days and possibly weeks ahead."
Under the U.S. Renewable Fuel Standard (RFS), corn-based ethanol has been mixed into gasoline sold at pumps in the U.S. since 2005, when a policy was enacted aimed at reducing emissions. Corn-based ethanol had been thought to be a relatively greener energy source compared to other biofuels, but now, a new study published in the Proceedings of the National Academy of Sciences reports it may be actually worse for the climate than straight gasoline. Tyler Lark, an assistant scientist at the University of Wisconsin-Madison's Center for Sustainability, joined Cheddar News' Closing Bell and discussed the pushback against the study. "Essentially when you need to produce more corn to meet the demand for use as ethanol as fuel, farmers respond and they switch more crops like soybeans and wheat into corn," Lark said. "They also bring more land into production, so things that used to be pasture grassland, and both those activities are associated with increased greenhouse gas emissions."
U.S. President Joe Biden’s administration on Thursday announced new sanctions against Russian oligarchs and others in President Vladimir Putin’s inner circle.
Christian Blauvelt, executive managing editor at IndieWire, joins Cheddar News to discuss the growing number of studios pulling content from Russia over Ukraine invasion.
Russian forces are battling for control of a crucial energy-producing city in Ukraine’s south and gaining ground in their bid to cut off the country from the sea.
In the past few years, Betthany Frankel has made a major name for herself as a philanthropist after founding the
BStrong initiative, which has provided relief to people impacted by natural disasters as well as the COVID-19 pandemic. Now, BStrong is shifting its focus to Ukraine, raising millions of dollars in donations for those impacted by Russia's invasion. Bethenny Frankel, the founder of BStrong, joins Cheddar News' Closing Bell to discuss.
Bryan Lee, Chief Investment Officer at Blue Zone Wealth Advisors, joins Cheddar News' Closing Bell, where he elaborates on the volatility we've seen in the markets this week fueled by rising oil prices and the ongoing Russian invasion of Ukraine.
