The House of Representatives is expected to re-vote on the Republican Tax bill Wednesday, after procedural problems invalidated the previous votes.
Three portions of the bill reportedly violate the Senate’s Byrd rule, although congress members had already voted 227-203 in favor of the bill. The Senate is expected to continue reviewing its version and vote Tuesday night.
Rep Beto O'Rourke (D-TX), who voted “ no” in the first round of votes, spoke to Cheddar ahead of the most recent snafu, and said that the bill was “terrible”. O’Rourke says Congress had the opportunity to promote upward mobility for low-income and middle class Americans, but doesn’t think the current version does that. Instead, he argues that the plan transfers 86 percent of tax cuts to the wealthy, and knocks 13 million people off health insurance.
“This is the most massive restructuring of the tax code in more than 30 years, and unfortunately this was a blown opportunity,” Rep. Beto O'Rourke (D-TX), told Cheddar.
Before the voting glitch was revealed, President Donald Trump, Vice-President Mike Pence, and Speaker of the House Paul Ryan, all took to Twitter to celebrate the win. Notably, Speaker Ryan says that the bill is going to help struggling Americans who are living “paycheck-to-paycheck.”
“We said in 2016 that it will take real tax reforms for families and businesses to get the economy growing, and we were serious,” he said.
For full interview [click here](https://cheddar.com/videos/congressman-beto-orourke-d-tx-is-taking-on-texas-senator-ted-cruz).
A bill to legalize recreational marijuana use in New Jersey passed a panel vote, and now heads to a full vote and governor's desk. State Sen. Gerald Cardinale of New Jersey, explains why he's against it when it comes to traffic accidents and youth usage in this week's episode of Cannabiz.
Since a Supreme Court ruling in May, seven states have legalized sports betting ー and Adam Small, the CEO of gambling magazine USBets thinks Ohio, Virginia, Kentucky, and Louisiana may be next.
Richard Allan, Facebook's vice president of public policy for Europe, the Middle East and Africa, answered inquiries from representatives of nine countries, sitting next to an empty chair left open for Zuckerberg. Early on, Allan, who is a former member of the British Parliament, admitted that the chief executive's absence was "not great."
These are the headlines you Need 2 Know for Tuesday, Nov. 27, 2018.
British Prime Minister Theresa May finally garnered European Union support for her Brexit plan, but unrest at home threatens to dismantle negotiations ー and lawmakers have warned there is no plan B. "The worst case scenario for many, particularly for anyone who is a 'Remainer,' is that we leave the EU without a deal in place at all," Ayesha Javed, Deputy Editor of The Wall Street Journal's WSJ City, told Cheddar on Monday.
Former wide receiver Walter Powell Jr. played for three NFL teams over a span of four years. But now, a year into his retirement, he's decided to tackle a new challenge ー creating a more informed electorate. The athlete created a new an app, Politiscope, to educate political newcomers like Powell with a tool that "broke down politics so people like me could understand it," he told Cheddar Monday.
Just days after releasing a chilling report on climate change, the Trump administration is trying to bury its own findings. The White House released a statement trying to diminish the severity of the report's findings, saying the report is based on the most extreme possible scenario. Andrew Light, Distinguished Senior Fellow at the World Resources Institute and one of the report's co-authors, and Matt Daily, Reporter at Politico, join Cheddar to discuss the details surrounding the report.
Ohio officials will allow businesses to pay taxes in Bitcoin as of this week. While limited in scope, the move represents an important tacit admission by a government body that Bitcoin is an acceptable currency, according to Jimmy Song, a Bitcoin developer.
These are the headlines you Need 2 Know for Monday, Nov. 26, 2018.
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.
