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 Greenberg details just what happens when the individual mandate is repealed.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 Treasury Department says 39 million families are set to receive monthly child payments beginning on July 15.
China has landed a spacecraft on Mars for the first time in the latest step forward for its ambitious space program.
Gas shortages have spread from the South, almost exhausting supplies in Washington, DC. The runs on gasoline follow a ransomware cyberattack that forced a shutdown of the nation’s largest gasoline pipeline.
Cheddar explains why some European countries are building new bicycle superhighways and how it'll transform their transportation landscape.
Two men detained by British immigration officials in Glasgow have been released after a seven-hour standoff between hundreds of protesters and Scottish police.
Republicans have vaulted Rep. Elise Stefanik into the ranks of House leadership. The upstate New York Republican was elected to the party's No. 3 post on Friday.
The CDC is easing indoor mask-wearing guidance for fully vaccinated people, allowing them to safely stop wearing masks inside in most places. The new guidance was announced Thursday at the White House.
The number of Americans seeking unemployment benefits fell last week to 473,000, the latest evidence that fewer employers are cutting jobs as consumers ramp up spending and more businesses reopen.
A worrisome bout of inflation struck the economy in April, with U.S. consumer prices surging 0.8%, the largest monthly jump in in more than a decade and the year-over-year increase reaching its fastest rate since 2008.
Republicans have dumped Rep. Liz Cheney from her House leadership post. The reason: Her persistent repudiation of President Donald Trump’s election falsehoods.
