As the ranking member of the House Intelligence Committee, Devin Nunes has recently been in the spotlight for his pro-Trump support during recent impeachment inquiry hearings. But like all members of Congress, he has an election coming up in 2020 and his Democrat challenger says his campaign has seen an outpouring of support since the hearings began.
"We've received over $300,000 in contributions since the beginning of this impeachment hearing from over 10,000 individual contributions," said Phil Arballo, who is trying to win the seat for California's 22nd District — a seat which Nunes has held since 2003.
Arballo, a Mexican-American businessman, entered the Democratic primary for the seat in June but said his campaign has seen a "groundswell of support" since attention shifted to Nunes during the hearings last week.
"As a constituent of his, and I can tell you from talking to a lot of people every day here on the ground, it's embarrassing, that he's our representative, here. He does not represent us here," Arballo said of the Central Valley.
Nunes defeated his Democratic challenger in 2018, but Arballo thinks the tide will turn in 2020.
"It's a very winnable seat," he said. "Everything is trending in the right direction for our race next year."
Nunes is not the only Republican whose role in the hearings may be helping Democratic challengers. Rep. Elise Stefanik of New York's 21st Congressional District played a prominent role in the hearings. Her 2020 challenger Tedra Cobb, who unsuccessfully challenged Stefanik in 2018, announced her campaign raised $1 million the weekend after the impeachment hearings.
U.S. stocks closed Friday at session lows after May CPI data showed inflation in the U.S. has not peaked and is still rising rapidly. For the week, the S&P fell 5.06%, the Dow lost 4.58%, and the Nasdaq dropped 5.60%, marking the worst week since January for all three major indexes. Mike Zigmont, Head of Trading and Research at Harvest Volatility Management, joins Cheddar News' Closing Bell to discuss.
Benefits brokerage, Nava Benefits, raised $40 million in a Series B round. Nava says it's on a mission to fix healthcare, one benefits plan at a time. The startup is working to bring benefits to small business that are normally available to only Fortune 500 companies. Brandon Weber, Co-Founder and CEO of Nava Benefits, joined Cheddar News' Closing Bell to discuss.
The House Select Committee investigating the Jan. 6 riots on Capitol Hill held its first primetime hearing on Thursday. Cheddar News speaks with legal analyst Tracy Pearson, who breaks down the biggest takeaways.
Fuel and oil prices have risen almost 17 percent since May, making the national gas prices reach nearly $5 a gallon. Andrew Lipow from consulting firm Lipow Oil Associates joined Cheddar News to discuss the future of gas prices. "The biggest issue on the oil market is really events that are beyond our control, which is what is happening over in Europe," he said, regarding the ongoing Russia Ukraine war. Lipow also said he predicted gas prices to hit $5.05 and that he's focused on the Biden administration's overtures in repairing a relationship with Saudi Arabia.
March For Our Lives will be returning this weekend to Washington, DC, in the wake of the recent mass shooting seen throughout the country. Marchers include Yolanda Renee King, the only granddaughter of Martin Luther King Jr. She joined Cheddar News to discuss the importance of the march and activism in general. "I just think that it's so important to have these rallies because we need to demand to our leaders and politicians that they pass legislation and that and we actually need to see action," she said.
Erika Alexander and Whitney Dow, directors of 'The Big Payback,' join Cheddar News to discuss their new film, 'The Big Payback.' It premieres Saturday, June 11 at the Tribeca Festival.
President Biden proposed a new rule that would add 500,000 chargers for electric vehicles nationwide. The proposal comes amid the rapid shift to EVs with dozens of automakers announcing plans for all-electric fleets within the next decade. But with the new surge will the U.S. have the proper infrastructure to keep up? Scott Painter, founder and CEO of Autonomy.com joined Cheddar's Opening Bell to discuss. "I really think the idea of standardization is a big deal. Standardization certainly makes it much better for everybody to be able to get a charge when they need one," he said.
The House select committee investigating the January 6th riots on Capitol Hill is opening its landmark series of public hearings. Cheddar News speaks with Mike Sozan, senior fellow at the Center for American Progress who explains how to follow the hearings and what to expect.
