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.
Toby Fricker, the chief of communications for UNICEF, joined Cheddar News to discuss the humanitarian crisis in Ukraine as the Russian invasion continues, displacing at least five million refugees from their home country. "The situation for children is horrific when you have to leave your home. I mean, that's traumatic for any child anywhere, but being forced to run for your life literally is really horrific to think about that," he said.
Laurence Tribe, a professor of constitutional law at Harvard University, joined Cheddar News to talk about the legal underpinnings of the ruling to lift the federal travel mask mandate. "Judge Mizelle decided that she would issue a nationwide injunction, which she and other conservatives have criticized in the past," he said. "That didn't stop her from doing it this time. She did it by just wiping away the CDC's rule, and she did it, have to say, in an opinion that was, well, I'll be honest, really stupid."
Marijuana legalization has spread across the country in recent years, and the number of Americans in support of legalization is at an all-time high. Andrew Bowden, CEO of the premium cannabis brand Item 9 Labs, joined Cheddar to break down the inner workings of the industry and how the industry can grow from here.
After a nationwide mask mandate for travel was struck down by a federal judge, Dr. Sampson Davis, an ER physician and bestselling author, joined Cheddar News to talk about the ramifications. "We are at a place where we are going to have to wait and see, unfortunately," he said. "The good news is that we're coming off a celebration of spring break, Easter, Passover, and we'll see what happens. But right now I'm not seeing a spike and people come into the hospital are truly sick. However, I'm still seeing people test positive for COVID."
Chris Vecchio, senior strategist at DailyFX, says the James Bullard and the Fed's bark may be louder than its bite when it comes to potential rate hikes in May. Investors brushed off any causes for concerns during Tuesday's session, which led to stocks ending the day sharply higher.
Catching you up on what you need to know on April 19, 2022, with a federal judge voiding mask mandates on public transportation, updates from the Russia and Ukraine war, Mac Miller’s drug dealer sentenced for involvement in the rapper's death, and more.
A federal judge’s decision to strike down a national mask mandate was met with cheers on some airplanes but also concern about whether it’s really time to end the order sparked by the COVID-19 pandemic.
