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 Greenberg details just what happens when the individual mandate is repealed.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.
The number of Americans applying for unemployment benefits was unchanged last week, remaining at a historically low level that reflects the job market’s strong recovery from the coronavirus recession last year.
The Biden administration is extending a student loan moratorium that has allowed tens of millions of Americans to put off debt payments during the pandemic.
President Joe Biden plans to deliver 500 million free COVID-19 tests to Americans, increase support for hospitals and expand the availability of vaccines to confront a winter surge of coronavirus cases driven by the fast-spreading omicron variant.
Former deputy assistant U.S. Secretary of State Joel Rubin joined Cheddar to break down the latest dispute between G7 nations and Russia as its increased military buildup along the Ukrainian border drew stern warnings of "massive consequences" should an invasion occur. "If Putin wants to keep on going further, there will be many tools that the financial system can use against him, and the United States, now, is gathering our allies in a way that is really unprecedented," he said.
Carlo and Baker cover the latest developments after a devastating tornado outbreak over the weekend, plus an eye on Omicron and inflation, and not even Spielberg can save the box office.
Airline executives faced tough questions from Congress on Wednesday, with the Senate panel grilling top CEOs on how they used that $54 billion Covid-19 government lifeline.
This hearing comes as airlines continue to face staffing shortages and widespread delays. Jason Ader, Leisure Analyst and CEO of SpringOwl Asset Management joined Cheddar's Opening Bell to discuss.
