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 Greenberg details just what happens when the individual mandate is repealed.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.
Dollar-pegged cryptocurrencies called stablecoins are on the rise, and U.S. regulators are taking notice.
Senate Republicans have rejected an effort to begin debate on a bipartisan infrastructure deal that senators brokered with President Joe Biden.
While the Biden administration has been busy undoing some of former President Trump's legacy decisions, the latest military branch, the U.S. Space Force established in 2019, isn't going anywhere.
Israeli Prime Minister Naftali Bennett spoke to the head of Unilever after its subsidiary Ben & Jerry’s announced it would stop selling its ice cream in the Israeli-occupied West Bank and contested east Jerusalem.
Canada will begin letting fully vaccinated U.S. citizens into Canada on Aug. 9, and those from the rest of the world on Sept. 7.
The Biden administration is blaming China for a hack of Microsoft Exchange email server software that compromised tens of thousands of computers around the world earlier this year.
The State Department will offer rewards up to $10 million for information leading to the identification of anyone engaged in foreign state-sanctioned malicious cyber activity, including ransomware attacks, against critical U.S. infrastructure.
The U.S. government is starting to deposit child tax credit money into the accounts of more than 35 million families.
Democratic Senators Chuck Schumer, Cory Booker, and Ron Wyden unveiled the draft of a historic cannabis decriminalization bill on Wednesday, more than five months after originally announcing it.
While testifying before Congress on Wednesday, Federal Reserve Chairman Jerome Powell offered his most extensive comments yet on the possibility of a central bank digital currency.
