Here are the headlines you Need2Know for Wednesday, September 9, 2021:

FRIDAY: The chat is back! Join us when the podcast makes its YouTube premiere at 9 am ET. Carlo and Baker will be here to hear what you have to say about the big talkers of the day. 

WH COVID RESET

In a speech today, President Biden plans to lay out a new “six-pronged strategy” for getting the pandemic back under control. That strategy will focus on new pressure to increase vaccination rates in the public and private sectors, but will not go as far as calling for a broad vaccine mandate for most Americans. Los Angeles is also expected today to become the first big school district in the country to approve a vaccine mandate for students 12 and up, a possible precedent for other districts to follow. POLITICO

TIME TO SHINE

The White House has outlined an ambitious plan to generate nearly half of the country's electricity from solar by 2050. Solar power currently makes up only 4 percent of the U.S. grid, but the cost to produce and install solar panels has been plummeting and it’s now the cheapest form of energy in some places. The Biden administration’s blueprint does not explain exactly how it will achieve such a massive transformation of the grid in such a relatively short time, which would have to be led by Congress. NY TIMES

NEWSOM RECALL

California Gov. Gavin Newsom appears increasingly likely to beat next week’s recall effort, at least according to the latest polling and a swing in the betting markets. There are 46 challengers running to replace Newsom, led by Republican talk-radio personality Larry Elder. Newsom needs strong turnout from the state’s Democratic base to beat the recall, and he appears to be getting it. So far, nearly a third of registered California voters have mailed in their ballots. Democrats account for 53% of them, compared to 24% for Republicans. MERCURY NEWS

EXTREME WEATHER

Tropical Storm Mindy has made landfall along the Florida Panhandle with 45 mph winds, coming ashore almost as quickly as it formed. Mindy will bring rain and winds to the Southeast today before moving out to the Atlantic, where Hurricane Larry has been churning for days, mostly out of harm’s way. Meanwhile, the death toll from Ida jumped to 26 after 11 more deaths were reported in New Orleans. That storm’s wide path of destruction, from the Gulf to the I-95 corridor, is setting up to be one of the costliest hurricanes of the century. Some of the areas in the Northeast that were hardest hit by Ida could see flash flooding today from a line of severe thunderstorms moving through the region. ACCUWEATHER

HOLMES TRIAL

The Elizabeth Holmes trial is underway in Silicon Valley, a very rare case of a tech CEO -- or any CEO -- being personally charged with defrauding customers and investors. Prosecutors opened proceedings by telling jurors that Holmes lied and cheated as she built up Theranos, the blood-testing company that claimed to use revolutionary technology before it was revealed to not work. Holmes has pleaded not guilty. If convicted, she faces 20 years in prison. WSJ

FOUR SEASONS SALE

Bill Gates is the proud new owner of the Four Seasons. Gates’ investment firm is taking a majority stake in the luxury hotel chain, buying about half of Saudi Prince Alwaleed’s stake for $2.2 billion. The deal suggests Gates is betting high-end travel is due for a major rebound out of the pandemic. BLOOMBERG

BACK TO FOOTBALL

The NFL season starts tonight with ageless wonder Tom Brady and the defending-champion Tampa Bay Bucs playing host to the Dallas Cowboys. Kickoff is at 8:20 p.m. ET on NBC. At 44 years old, Brady will become the oldest non-kicker to ever start a Week 1 NFL game. On the other side of the gridiron, Dallas QB Dak Prescott will make his first start since he suffered a horrific ankle injury in the early days of last season. SI

AMC ON TV

AMC will start advertising on television for the first time in its history. The world’s largest theater chain is launching a $25 million ad campaign that features Nicole Kidman explaining why seeing a movie in theaters is special, with the tagline “We Make Movies Better.” The company is trying to take advantage of some strong box office performances of late to remind viewers why they liked going to the movies before the pandemic: WATCH THE FIRST SPOT

SPOTTED...

...the statue of Robert E. Lee that has towered over Richmond’s iconic Monument Avenue -- the largest monument to a Confederate soldier in the country -- coming down once and for all: SEE IT

...Derek Jeter, getting inducted into the Baseball Hall of Fame. The Yankee legend was voted in during his first year of eligibility with 396 out of a possible 397 votes. Jeter took a swipe in his speech at the one anonymous writer who voted against him, which remains one of the sport’s big mysteries: WATCH

...the new trailer for The Many Saints of Newark, the upcoming Sopranos prequel, featuring fresh looks at a young Tony Soprano and Paulie Walnuts, plus a cameo from baby Christopher: WATCH

LEFTOVERS: 9/11 BABIES

The 13,238 babies born in the U.S. on Sept. 11, 2001 turn 20 on Saturday. Like most of the soldiers who were killed in the recent Kabul airport suicide bombing, they never knew an America not at war, or even an airport where you didn't have to take off your shoes. Here are the stories of five of the so-called “9/11 babies” and where they are now: READ IT

Listen to the N2K Podcast! Looking for more context and analysis on the big stories of the day? Check out our podcast! Hosts Jill and Carlo break down the headlines, every weekday morning Listen on Apple or Spotify, or watch on YouTube, and send us your feedback!

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CES 2022 Begins on Wednesday
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Severe Snowstorm Blankets D.C., Mid-Atlantic Region
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Over 3,000 Flights Canceled on Monday Over Severe Weather, Crew Shortages
Airlines canceled more than 3,000 flights on Monday over severe weather and crew shortages. The cancellations come on one of the busiest travel days of the holiday season, and is a continuation of the industry-wide disruption that started before Christmas. Thomas Pallini, Aviation Reporter for Insider joined Wake Up with Cheddar to discuss.
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.
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.
Competitive Stock-Trading Mobile App Zingeroo Raises $8.5 Million
There is a new player in the mobile app stock trading space. Zingeroo recently announced a funding round of $8.5 million. The company says it aims to bring 'friendly competition' to stock trading, by literally breaking trading down into daily and weekly competitions between friends. Zingeroo also says it hopes its new approach can make trading more accessible, educational, and social than ever before. Zingeroo co-founder and CEO Zoe Barry joins Cheddar News' Closing Bell for more.
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