Senator Kirsten Gillibrand (D-New York) has been very vocal about what she thinks needs to be done to battle the economic fallout from the coronavirus crisis.
The senator told Cheddar Monday that postal banking will be able to serve more people during the pandemic, specifically low-income families, who may be unbanked.
"It was instrumental in getting us out of the Depression because post offices were able to sell bonds and it made a difference because it allowed more low-income people to have bank accounts," Gillibrand said.
The senator envisions the U.S. Postal Service re-introduce postal banking through its 30,000 locations in a return to a program that served those impacted the most during the Great Depression, a plan to save both the USPS and economically disadvantaged detailed in an op-ed for The New York Times.
On Friday, President Trump had threatened to withhold aid from the USPS if it doesn't dramatically increase its shipping prices for online retailers. Sen. Gillibrand alleged that his choice to block aid was "fundamentally" related to his resistance to mail-in voting for the November election.
"He is absolutely fighting this because he thinks he will win only if less people are able to vote, which is obviously very cynical and not what we expect from a president," she said.
Previously, a fellow Democrat, New York Governor Cuomo, had criticized Gillibrand and Sen. Charles Schumer, also of New York, for failing to provide enough aid to struggling states like their own, but Gillibrand said they have started negotiating the COVID 4 package that will be geared toward state and local governments.
"Our goal is to allow more cities and states access to federal bailout money," she said. "Hopefully, in this next bill, which will begin in the House and Speaker Pelosi can author it, we will be able to send more money to get the states out of these terrible holes that they can't possibly get out of on their own."
The senator also has an idea for a "health force" job-training program that would put unemployed people to work in the fight against COVID-19 and allow more communities to get tested.
"We would allow for one million workers to be trained in the next two months to do this contact tracing along with testing," Gillibrand said. "We could actually be in the communities testing everyone. If we did that, that's how we can reopen society and schools in the fall."
Democrats are hoping to pass the Build Back Better Infrastructure Bill this week, but fellow Democrat Senator Joe Manchin has proven to be a steady fast hold out, stating that he will not support a multi-trillion dollar bill without greater clarity. U.S. News and World Reports Political Reporter Lisa Hagen joined Cheddar to discuss the future of the bill.
Carlo and Baker discuss the election results across the country, including a Republican comeback in Virginia -- and possibly NJ -- plus the CDC gives the go-ahead for child vaccinations, Atlanta wins the World Series and more.
David Wagner, Portfolio Manager at Aptus Capital Advisors, joins Cheddar News' Closing Bell, where he explains why we continue to see record closes from the Dow, S&P, and Nasdaq, and breaks down figures from Lyft's Q3 earnings report.
Voters across the country are heading to the polls today for Election Day. The results of some key races could signal what we can expect in upcoming elections. In Virginia, Democrat Terry McAuliffe is facing off against Republican Glenn Youngkin for governor in a tight race. The race has both parties watching because it's a big indicator of how voters are leaning ahead of the 2022 midterm elections. Kyle Kondik, managing editor of Sabato's Crystal Ball at the University of Virginia Center for Politics, joins Cheddar News to talk about what's in store for the state.
Laura Vozzella, local reporter for The Washington Post, joins Cheddar News to discuss the close gubernatorial race in Virginia and what voters are looking for in each candidate.
The U.S. Supreme Court takes a closer look at the Texas abortion law that was designed by its sponsors to evade constitutional review in federal court. Katie Barlow, journalist and social media editor at SCOTUSblog joins Cheddar News to breakdown what was discussed.
John Paul Mejia, the national spokesperson for the Sunrise Movement, joined Cheddar to talk about what the youth activist group wants to see from President Joe Biden as he attends the COP26 climate summit. Mejia admonished the president for having little to deliver on his own climate agenda domestically while at the conference. "We need the president to follow through with his promises because, frankly, it's a matter of life or death not only for communities here in the United States but also those looking to us around the world," he said.
With COP26 kicking off, roughly 120 world leaders and delegates are in Glasgow, Scotland to hold climate talks this week. As experts continue to warn about the dangers of climate change, ESG investing is more important than ever.
Georges Archibald, Head of Apex Americas at Apex Group joined Cheddar's Opening Bell to discuss.
President Biden expected to unveil details on a Covid-19 vaccine mandate for businesses in coming days.
This comes just days after The White House issued separate vaccine mandates for federal contractors across the country. Mark Kluger, Founding Partner, employment law firm Kluger Healey joined Cheddar's Opening Bell to discuss.
