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.
Krutika Amin, associate director at the Kaiser Family Foundation for the Program on the Affordable Care Act, joins Cheddar Politics to discuss the Biden administration's plan to fix the so-called 'family glitch' in the Affordable Care Act preventing millions of Americans from accessing government-subsidized health plan.
Abdallah Fayyad, opinion writer at the Boston Globe, joins Cheddar Politics to discuss the House's vote to hold former Trump aides Dan Scavino and Peter Navarro in contempt of Congress and send the recommendation to the Department of Justice. Fayyad also weighs in on the pressure facing Attorney General Merrick Garland to be more aggressive in prosecuting the January 6 case.
Those paying back federal student loans are getting a few extra months of relief. President Biden just announced another extension of the pandemic relief program allowing millions of borrowers to freeze their student loan payments. The pause began in March 2020 and it has been extended six times. Tomas Campos, co-founder and CEO of Spinwheel, joins Cheddar News to discuss.
There has been notable disagreement in the medical community about a fourth COVID-19 vaccine dose. The FDA last week authorized a second booster dose for older and immunocompromised individuals, as some agency officials did not support the idea. The FDA made the decision without meeting with its advisory committee, as it had ahead of its recommendations on the previous COVID-19 vaccine doses.
The CDC followed in the footsteps of the FDA and authorized a fourth dose as well. Reports say the agency also did not discuss the move with its own advisory team of vaccine experts. Now, a growing number of doctors are speaking out against the decisions - leaving people confused about whether they should get another vaccine dose. Dr. Julie Morita, a member of the CDC's advisory committee to the director, and the executive vice president of the Robert Wood Johnson Foundation, joins Cheddar News' Closing Bell to discuss.
The Senate has confirmed Ketanji Brown Jackson to the Supreme Court, shattering a historic barrier by securing her place as the first Black female justice and giving President Joe Biden a bipartisan endorsement for his effort to diversify the court
House Speaker Nancy Pelosi has tested positive for COVID-19, her spokesman says. That's a day after the 82-year-old Democratic leader appeared unmasked at a White House event with President Joe Biden.
JetBlue made an unsolicited offer to buy low-cost carrier Spirit Airlines, potentially jeopardizing the original offer from Frontier Airlines. Several analysts sounding the alarm on JetBlue's proposed $3.6 billion merger, saying the deal doesn't quite make sense. Jim Corridore, Senior Insights Manager at Similarweb joined Cheddar's Opening Bell to discuss.
The Biden administration is once again extending the pause on federal student loans payments — this time, through the end of August. In a statement, President Biden cited a recent analysis from the Fed that if the payments were to resume, millions of student loan borrowers would face significant "economic hardship, delinquencies, and defaults that could threaten America's financial stability." Sarah Foster, an analyst at Bankrate, breaks down the impact of the extension on borrowers, the economy, and the future of student loan forgiveness. "I think this is just an instance of the federal student loan forbearance program kind of creating additional uncertainty for borrowers, especially in the sense that these past four extensions from the Biden administration have kind of come at the 11th hour here," she said.
