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.
People of African and Middle Eastern descent fleeing from Russia’s invasion of Ukraine are facing the double trauma of racism at the borders. Professor of law and migration studies at the University of San Francisco, Bill Hing, joined Cheddar News Wrap to discuss what some are describing as a double standard for other refugees escaping the war. "Those that are from the Middle East and from Africa who just happen to be in Ukraine, for example on a student visa, they are not going to be able to get into Poland or another area of the Schengen area because they are not natural Ukrainian," he said.
Add FIFA to the list of organizations announcing a break with Russia. The world soccer authority has suspended the nation from competing in the 2022 World Cup tournament, while the NHL also announced suspending business relations with Russia. Executive editor and senior writer at Sports Illustrated, Jon Wertheim, joined Cheddar News to discuss the rebukes. "I think a big element of this is, this is a way to really hit at Putin because we know how much this appearance of strength and the victory… often portrayed through sports, how much that means to him," he said. "This will bother him in a way that it might not bother other world leaders."
Prices at the pump have escalated severely during the Russian invasion of Ukraine. Paul Christopher, head of global market strategy, Wells Fargo Investment Institute, joined Cheddar News to explain how he sees the gas prices continuing to spiral despite the International Energy Agency announcing the release of 60 million barrels of oil from the strategic reserves of 31 countries. "We think you could see oil and gas prices continue to rise. Oil prices maybe could hit $140 a barrel. That's possible. And that would add another 50-60 cents on top of the gasoline prices you already have," he said.
President Joe Biden is set to give his first State of the Union address amid both international and domestic crises: the Russia-Ukraine conflict and continued rising inflation and economic worries at home. He's expected to focus on a four-point plan to reduce everyday costs, and promote economic competition, among other key tenets. But will it be enough to persuade Americans that his administration will be able to get rising prices and foreign policy moves under control? Eugene Scott, national politics reporter at The Washington Post, joins Closing Bell to discuss Biden's expected focus, how he will aim to ease Americans' concerns, and more.
Dr. Daniel Bober, psychiatrist and certified addiction medicine physician, joins Cheddar News to offer tips on how parents and guardians can talk to their children about what's happening in Ukraine.
While crypto exchanges have been used to aid Ukraine amid the Russian invasion, critics point to possible sanction evasion on the Russian side using the same technology. Cheddar's Alex Vuocolo takes a closer look.
Airbnb.org has announced that it will provide up to 100,000 Ukrainian refugees with free housing. Airbnb.org is the philanthropic branch of Airbnb that provides free housing for those affected by disasters. Joe Gebbia, co-founder and chairman of Airbnb.org, joined Cheddar News to talk about how the company has helped thousands find shelter in times of crisis. "A lot of people are saying this conflict is likely to be the largest humanitarian crisis since World War II, and I believe Airbnb believes that companies have a responsibility to step up and to help out in times like these," he said.
The International Energy Agency’s 31 member countries have agreed to release 60 million barrels of oil from their strategic reserves “to send a strong message to oil markets” that supplies won’t fall short after the Russian invasion of Ukraine.
Every ten years, there’s a census. That decennial count is long and tedious and arduous…and important. Because it confirms who lives where so the Federal Government properly allocates resources, so services go to the places that need them most and - yes - so states gain or lose seats in congress and have the opportunity to redraw all their state and Congressional lines.
That means, every 10 years, states start what has famously been one of the most partisan and divisive processes in politics. Because one strategic line can mean the difference in party control in not just the state legislatures but also in congress.
Cheddar explains how gerrymandering works and why it exists.
