With Congress in recess for the month of August and the president on vacation in Bedminster, very little has been done to address gun reform two weeks after mass shootings took the lives of 31 people in El Paso, Texas and Dayton, Ohio.
"The inactivity of the president, and [Senate Majority] Leader McConnell, is literally killing Americans," New York Congresswomen Carolyn Maloney told Cheddar Monday. "It is outrageous."
Maloney is a co-sponsor of the Bipartisan Background Checks Act of 2019, H.R. 8, that passed the House in February, but has not made any movement in the Senate.
"I would say if guns made us safer, we would be the safest nation on earth," Maloney said.
"Unlike many problems that we don't have an answer for, such as what's the cure for cancer, we know what to do to get guns off the street and other countries have done it," she added.
In various press gaggles and rallies since the shootings, Trump has flip-flopped on the topic of gun control. In the week after the two mass killings, the president issued his support for a background check bill. Nevertheless, last Sunday, Trump told reporters, "But just remember, we already have a lot of background checks."
The president has also pointed early and often to mental illness as a factor in the rise of gun-related deaths in America, a common talking point among gun rights advocates. On his way back to Washington Sunday, he told reporters, "I don't want people to forget that this is a mental health problem. I don't want them to forget that, because it is. It's a mental health problem."
Maloney weighed in on the president's spin: "The President says he wants to make sure that [gun buyers are] not mentally ill. Well, the one way to find out is background checks."
"I support the Second Amendment," Maloney later, saying that "assault weapons, weapons of war that are just designed to kill the most people quickly, they shouldn't be allowed to be sold. They should be banned."
On Monday, Rep. Pete King (R-N.Y.) became the first Republican in the House to support H.R.1296 — the Assault Weapons Ban of 2019 — of which Maloney is also a co-sponsor.
"They are weapons of mass slaughter," King said, adding, "I don't see any need for them in everyday society.
We are just one day away from what has been called the most influential tech event in the world. CES 2022 will officially kick off on Wednesday in Las Vegas, but the annual tech summit is being impacted by COVID-19, like so many other recent events. The Consumer Technology Association originally planned for a hybrid event to take place from January 5-8, with some in-person events and some virtual; however, a few big-name companies announced they will not be attending in-person, so the CTA decided to shorten the event by one day, with it now ending on Friday. Consumer electronics senior analyst Will Greenwald joins Cheddar News' Closing Bell to discuss.
California's new composting law will affect what residents do in their kitchens. As of this week, Californians will have to recycle excess food in an effort to reduce emissions caused by food waste. Cities and counties will turn recycled food into compost or use it as a renewable energy source. California's new law is the largest mandatory residential food waste recycling program in the country. Rachel Wagoner, Director of the California Department of Resources, Recycling and Recovery called the law 'the biggest change to trash' since recycling started in the 1980s. She joined Cheddar Climate to discuss.
Fast-casual restaurant chain Sweetgreen is rolling out its first salad subscription service called sweetpass as it looks to customers tackling new year weight loss and health goals. Members will receive up to 30 percent off of purchases.
Washington DC and the surrounding areas saw a record breaking snow storm Monday as a strong storm system works its way across the eastern U.S. The extreme weather event caused extensive damage in the greater Washington area, leaving thousands in the region without power. Jonathan Porter, Chief Meteorologist, AccuWeather, joined Wake Up with Cheddar to discuss the fierce storm.
Airlines canceled more than 3,000 flights on Monday over severe weather and crew shortages. The cancellations come on one of the busiest travel days of the holiday season, and is a continuation of the industry-wide disruption that started before Christmas. Thomas Pallini, Aviation Reporter for Insider joined Wake Up with Cheddar to discuss.
Millions of Americans with young children have relied on the child tax credit since the federal government began issuing checks in July 2021. The last round of payments was sent out just before the Christmas holiday — at the same time as the omicron variant surged. Leah Hamilton, associate professor of social work at Appalachian State University, joined Cheddar to discuss what the end to the tax credit means as the U.S. sees the end of many relief programs and its highest number of COVID cases since the start of the pandemic. "It'll become harder for families to meet their basic needs, increasing national childhood poverty rates and the proportion of families who have difficulty putting food on the table, maintaining stable housing, and paying their bills," Hamilton said. She also pointed to research that the credit as a long-term investment in children offsets claims that it contributes to macroeconomic impacts like inflation.
Several Silicon Valley insiders are being accused of contorting a 1990s-era tax break to avoid taxes on millions of dollars of investment profits. The tax break is known as the qualified small business stock exemption, and it allows early investors in certain companies to avoid half of the taxes on up to $10 million in capital gains. A piece recently published in the New York Times says venture capital firms like Andreessen Horowitz replicated the tax exemption by giving shares of companies to friends and family, who would otherwise face a 23.8% capital gains bill. The CEO of Roblox is also accused of replicating the tax break for his family members at least 12 times. Although the loophole known as 'stacking' is considered to be legal, the Times piece implies that the exemption has been manipulated for the ultra-wealthy to become more wealthy. Greycroft co-founder and Chairman Emeritus Alan Patricof joins Cheddar News' Closing Bell to discuss.
There is a new player in the mobile app stock trading space.
Zingeroo recently announced a funding round of $8.5 million. The company says it aims to bring 'friendly competition' to stock trading, by literally breaking trading down into daily and weekly competitions between friends. Zingeroo also says it hopes its new approach can make trading more accessible, educational, and social than ever before. Zingeroo co-founder and CEO Zoe Barry joins Cheddar News' Closing Bell for more.
