Jon Greenberg, staff writer for Politifact, breaks down some of the rhetoric from the left and the right around the GOP tax reform bill.
Chris Ruddy of Newsmax claimed that the GOP bill would bring in $3 trillion of offshore funds back into the economy from large U.S. corporations receiving a tax cut overseas. But just how true is this? Politifact has rated the statement half true. Greenberg notes that while corporations are receiving a reduction in overseas taxes, 45% of the $3 trillion made overseas is already in the U.S.
Greenberg also weighs in on House Minority Leader Nancy Pelosi's statement that the GOP bill would "sabotage" the healthcare of 13 million Americans. Greenberg details just what happens when the individual mandate is repealed. He explains that the repeal of the individual mandate will cause healthy people to leave the marketplace, which will cause costs to go up for those that are sick. That means some of those people won't be able to afford health insurance anymore. Politifact's overall rating of Pelosi's statement: half true.
Christopher Wolfe, CIO at First Republic Private Wealth Management, joins Cheddar News' Closing Bell, where he says he is surprised that the first quarter was the first down period in a long time, but adds that the second quarter could be difficult with a lot of volatility expected.
Jeffrey Small, President of Arbor Financial, joins Chedar News' Closing Bell, where he breaks down why stocks closed near session lows on Wednesday and tells viewers what to expect ahead of next earnings season.
Uber and Lyft drivers are cruising in Washington State, the first U.S. state to set an earnings standard for drivers for the ride-hailing companies. Governor Jay Inslee signed the new minimum pay standard into law Thursday, which also gives drivers access to perks like paid sick time and family medical leave. John Logan, Director of Labor and Employment Studies at San Francisco State University, joins Cheddar News' Closing Bell to discuss.
Jeremy Berke, senior reporter on the cannabis industry for Business Insider, joins Cheddar Politics to discuss developments in cannabis legalization at the federal level. He helps break down the bill and what legalization efforts might look like in the Senate.
Selene San Felice, Tampa Bay reporter for Axios Local, and Jennifer Levi, director of the Transgender Rights Project at GLBTQ Legal Advocates & Defenders (GLAD) join Cheddar Politics to discuss the impact of the new law targeting LGBTQ communities in Florida schools.
Ryan Barber, justice correspondent at Insider, joins Cheddar Politics to discuss the latest developments in the January 6 investigation, including texts between Ginni Thomas, the wife of Supreme Court Justice Clarence Thomas, and former White House Chief of Staff Mark Meadows.
Joel Rubin, former Deputy Assistant Secretary of State and president of the Washington Strategy Group, joins Cheddar Politics to discuss the latest developments in the Russian invasion of Ukraine.
The head of Russia’s space program says the future of the ISS hangs in the balance after the U.S., EU, and Canadian space agencies missed a deadline to meet Russian demands for lifting sanctions on Russian enterprises and hardware.
President Joe Biden called for a war crimes trial against Russian President Vladimir Putin and said he’d seek more sanctions after reported atrocities in Ukraine.
Catching you up on what you need to know on April 4, 2022, with reports of Russian war crimes in Ukraine, a weekend shooting in Sacramento killing six and injuring 12, Mexico ending its gas subsidization for U.S. drivers, and the University of South Carolina winning the women's NCAA basketball championship, and more.
