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 Greenberg details just what happens when the individual mandate is repealed.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.
MacKenzie Scott, the billionaire philanthropist known for her impromptu multi-billion dollar donations to charities and racial equity causes, announced Tuesday that she has given $2.7 billion to 286 organizations.
A French court has ordered home furnishings giant Ikea to pay more than $1.3 million in fines and damages Tuesday over a campaign to spy on union representatives, employees and some unhappy customers in France.
Retail sales fell in May, dragged down by a decline in auto sales and a shift by Americans to spend more on vacations and other services instead of goods.
British Prime Minister Boris Johnson has confirmed that the next planned relaxation of coronavirus restrictions in England will be delayed by four weeks until July 19, as a result of the spread of the delta variant.
J&J Contamination, New Israeli Government, Djokovic wins. Here are the headlines you Need2Know for Monday, June 14, 2021:
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
OhmConnect, an Oakland-based company, is offering a demand-side solution that could end up playing a crucial role in helping California avoid rolling blackouts this summer.
J&J Shelf Life, Pulse Nightclub Memorial, Consumer Prices Rise. Here is all the news you need to know for Friday, June 11, 2021.
President Joe Biden is calling on global leaders to join him in sharing coronavirus vaccines with struggling nations around the world.
Inmates at an Oklahoma prison began receiving special computer tablets this week.
