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.
Will Rhind, CEO of GraniteShares, joins Cheddar News' Closing Bell, where he says he believes the Fed's plans of increasing rates is taking its toll on some of the more speculative stocks and the technology market.
Mona Zhang, states cannabis policy reporter at POLITICO Pro joins Cheddar News to discuss major factors that caused Canada's retail marijuana sales to drop last year.
The January 6 committee has asked Ivanka Trump to give voluntary testimony, saying there's evidence she was in "direct contact" with her father on the day of the capitol insurrection. I's unclear whether she will comply with the invitation, but it marks the first time the House committee has sought testimony from a member of the former president's family. Bradley Moss, national security attorney, joined Cheddar News to discuss what the committee hopes to learn from Ivanka and what the Supreme Court's decision on Trump's Jan. 6 materials means for the investigation.
Terrell Jermaine Starr, senior fellow with the Atlantic Council and host of the Black Diplomats podcast joins Cheddar News to discuss Russia's attempt to invade Ukraine.
With an increasing number of teachers and staff calling out sick by the day, the state of Oklahoma is turning to an unusual solution. Republican Governor Kevin Stitt has issued an executive order that permits state employees to work as substitute teachers. Shaily Baranwal, founder and CEO of Elevate K-12, joins Cheddar News to discuss.
On Thursday, Secretary of State Antony Blinken addressed the stance of the U.S. and its allies should Russia make any forays into Ukraine, a seeming response to President Biden's remarks that should Putin engage in something short of a full invasion, there might be some indecision among allied nations regarding what to do. Ariel Cohen, a senior fellow at the think tank Atlantic Council, joined Cheddar to discuss the difficulty faced by Blinken wrangling unity as tensions run high in the region. "There'll be a smaller incursion, and the president implied, there'll be a weaker response because our European allies have created this horrible situation where they are dependent on Moscow for their gas supply," Cohen explained.
During a nearly two-hour press conference on Wednesday, President Biden spoke on his accomplishments and challenges from the first year of his presidency, and what his administration hopes to accomplish in the coming year. However, his approval ratings are underwater as COVID remains a big concern for voters — as does inflation, noted Tom Bevan, co-founder and president of polling aggregator RealClearPolitics. "The public thinks [inflation] is priority number one, and the administration is concerned about it, they talk about it, but they're not spending enough time on it as far as the public is concerned," said Bevan.
The drama surrounding tennis star Novak Djokovic continues after he was deported from Australia over the weekend due to the nation's COVID-19 vaccine requirements. Djokovic was forced to leave the country on the eve of what was to be his first match in defense of his Australian Open title after three judges ruled in favor of his removal and revealed their reasoning for doing so. Adding to his woes, a law recently passed in France is putting his chances of defending his French Open title in jeopardy. The director of Marist's Center for Sports Communication, Jane McManus, joined Cheddar to discuss the ongoing fallout.
As the midterm elections get ever closer, candidates have been getting creative with their campaigns to stick out and to connect with voters. Gary Chambers, a Democratic candidate for the U.S. Senate from Louisiana, has definitely attracted attention with an advertisement featuring him smoking a blunt, making a point about the inequity of anti-cannabis laws. "We wanted to bring the seriousness of the moment," he said of the ad. "But we also wanted to make sure that people understand that there are 19 states that are legal right now but Black people and brown people are being over-incarcerated in mostly Southern and Midwestern states in America for cannabis possession."
