Democratic Congressman Hakeem Jeffries represents the eighth district of New York. He believes the Republican tax plan will protect millionaires and hurt middle-class Americans. The Congressman says that, despite an emphasis on reducing the federal deficit, the current plan will increase it by over a trillion dollars.
"This is really a smokescreen that has been put forth to pretend as if it's going to benefit everyday Americans," he says, "when the GOP tax proposal is really all about helping out millionaires, billionaires, and big corporations and showering them with a massive tax cut, exploding the deficit by about $1.5 trillion."
One of the key points of the GOP's policy is the elimination of state and local tax deductions for individual Americans, which could hit the constituents of high tax states like California and Jeffries' own New York. The White House argues that it's the states' decision to tax residents so much and that they shouldn't get a break because of it.
But Jeffries points out that the GOP's plan still allows corporations to deduct their state and local taxes. "The only reason it's being done, is because this is all about big business and wealthy Americans."
Democratic leaders Chuck Schumer and Nancy Pelosi declined an invitation by President Trump to meet with him at the White House and discuss tax reform. Congressman Jeffries believes that was a wise decision, because the President is not actually interested in reaching a bipartisan agreement.
Republicans also need to pass a short-term spending bill to fund the government, or it will shut down on December 8th. Congressman Jeffries says it would be unreasonable if Republicans try to blame a government shutdown on Democrats when the GOP holds both houses of Congress and the White House.
Cryptocurrency is expected to become a part of our daily lives — but what sort of environmental impact does it have? As the U.S. becomes the crypto mining capital of the world, climate advocates are worried about mining companies reopening old coal plants, using massive amounts of energy, wasteful hardware, and more. Congressional Democrats led by Senator Elizabeth Warren are demanding answers from mining firms about their electricity use and waste levels. John Belizaire, CEO of Soluna Computing, joins Cheddar Climate to discuss the congressional letters, how crypto mining can become a green industry, and more.
The Supreme Court will reconsider race-based affirmative action in college admissions. The court will examine admissions policies at Harvard University and The University of North Carolina Chapel Hill, which count the race of applicants as a factor in admissions. The court has upheld affirmative action policies in the past, saying it helps to create more diverse student bodies. However, the conservative Supreme Court could be skeptical and even possibly hostile to such policies. Nick Anderson, Higher Education Writer, Washington Post joined Cheddar's Opening Bell to discuss.
Stephanie Akin, Politics Reporter for CQ Roll Call, breaks down
Senator Manchin's donation pool, and highlights what this support means for the conservative Democrat as well as the Republican party.
The global oil benchmark surpassed $90 for the first time in more than seven years. This comes as growing tensions between Russia and Ukraine add to concerns about the already-tight market. Jay Hatfield, Chief Investment Officer at ICAP, joined Cheddar to discuss what this benchmark means for the oil industry, and what might happen if Russia does invade its neighbor.
With the Beijing Winter Olympics set to get underway on Friday, Dan Wolken, a national columnist for USA Today, joined Cheddar News to break down the big storylines as the pandemic and international conflicts threaten to cast a cloud over the event that is aspirationally seen as a beacon of international cooperation. Wolken noted specific issues over cybersecurity for visiting athletes and disputes over human rights leading to a diplomatic boycott have been making waves even before the opening ceremony. "So you've got sort of these barbs going back and forth already between the Americans and the Chinese, and things haven't even started yet," he said. "We don't even know what's going to happen once the games start and people actually start winning medals."
We are a week away from the 2022 Beijing Olympics, and China has already faced a host of problems leading up to the opening ceremony of the Beijing games. DJ Peterson, president of Longview Global Advisors, joins Cheddar News to discuss the many concerns and controversies surrounding the event.
In 2021, QAnon, the community which traffics in conspiracy theories saw a rapid growth in its numbers. As a result of vaccine rollouts, a number of conspiracies surrounding them also began to circulate which then led to the rise of "Anti-Vaxxers". As a result, the QAnon and anti-vax communities have become increasingly intertwined and the results could be costing lives. Senior Researcher at Media Matters Alex Kaplan, joined Cheddar to discuss more.
Supreme Court Justice Breyer has announced that he will officially retire from his post. He has served as the senior member of the more liberal wing in recent years. Now his retirement puts pressure on President Biden to decide on who will replace Breyer. Attorney and Media Editor at SCOTUS blog Katie Barlow, joined Cheddar to discuss more.
A long awaited report in the UK looking into the alleged parties held at 10 Downing Street during lockdown finds a culture of excessive drinking and a "failure of leadership" in Boris Johnson's government. Cheddar News speaks with international journalist Thomas Cole, who is closely monitoring latest developments.
