Senator Sheldon Whitehouse: Tax Reform Is a "Historic Error"
As the Tax Cuts and Jobs Act makes its way to the White House, one Democrat lawmaker is pulling no punches with his criticism of Republicans who are calling the tax package historic.
Cheddar caught up with Senator Sheldon Whitehouse (D-RI) who calls the bill a “scam,” and a “historic error.” He says that the 80 percent of the benefits of the tax code package will go to the one percent in the long-haul.
“From what I see, it looks like it’s being done essentially as what people in politics call donor maintenance: keep the fellas who fund your party happy,” he said. “As an exercise in donor maintenance it is indeed historic, but in terms of flow through to the American public, and giving benefit to the normal family, I don’t see that happening.”
Republicans, however, argue that the bill is beneficial for the American people. The party says that Americans will have more jobs and the economy will see a boost. The tax plan currently cuts corporate taxes from 35 to 21 percent.
Some companies companies cheered on the news by announcing bonuses for their employees. AT&T announced that 200,000 of its employees will get $1,000 bonuses, and that it will increase its U.S. capital expenditure to $1 billion. AT&T was trending on Twitter shortly after, with users theorizing that the move was a political play to get the government to approve its contentious merger with Time Warner.
Still, Whitehouse encourages unhappy voters to let their voices be heard at the ballot box. He says that Democratic congress members on Capitol Hill will be doing everything they can to alleviate the pressure that the bill will cause in property taxes, SALT, and the student community.
“If you want things different, you got to vote in a different power structure here in Washington,” he said. “If you like what’s happening? If you like all of the self-dealing for the donor class, great. Keep voting Republican.”
For full interview [click here](https://cheddar.com/videos/senator-sheldon-whitehouse-d-ri-the-tax-reform-bill-is-a-historic-error).
The new year has just gotten underway, but the clock is already ticking for the Democratic-led Congress to pass bills regulating big tech. Evan Greer, Director for Fight For the Future, joins Cheddar News to explain why Democratic lawmakers would want to push legislation now, and what a Republican takeover would mean for the industry.
Americans looking to purchase at-home COVID-19 tests will now have to shell out a bit more money after an agreement expired between the White House and companies to sell the tests at cost. The price of Abbot's BinaxNow test kit from October to December was $14 apiece; on Tuesday, Walmart's website listed the test for $19.88, and Kroger listed the tests for $23.99. Carbon Health Regional Clinical Director Dr. Bayo Curry-Winchell joined Cheddar News' Closing Bell to discuss the impact higher prices will have as the nation experiences another surge in cases.
After the Chicago teachers union voted to work remotely due to what they say is a lack of safety protocols amid the COVID-19 surge, the school system canceled classes on Wednesday, citing harm that remote learning has done to the city's children. Randi Weingarten, president of the American Federation of Teachers, joined Cheddar to discuss the issues surrounding the latest dispute between educators and schools. She said that the return to in-person learning would likely be halted until more COVID tests could be provided for districts. "This is a terrible situation for everybody, and we need the testing, and we need the masks," she said. "It's the omicron surge that has created this disruption, and we are trying to do the best we can. And this is the only school district that has this kind of action right now." The teachers might not be returning to their schools for at least two weeks amid the ongoing tensions.
Illinois State Senator Robert Martwick joins Cheddar News to discuss the new bill he co-sponsored allowing students in the state to take 5 mental health days without a doctor's note.
On Monday, President Biden announced his new plan to take on inflation by taking down the big meat monopolies - turning to the federal government's antitrust authorities to investigate the major meatpackers that control a significant share of the market. The White House plans to devote one billion dollars to aiding independent meat and poultry producers in an effort to undercut the few powerful meat producers that have control of the sector. Austin Frerick, deputy director of Thurman Arnold Project at Yale, joins Cheddar News to discuss.
As the pandemic drags on, so does the widespread great resignation. In November alone, 4.5 million Americans quit their jobs, marking a new record high, and showing a 9 percent jump from the month prior. On the flip side, the number of people filing tax paperwork to start new businesses is surging, with over 430,000 new businesses launching in November. Rhett Buttle, the founder of Public Private Strategies and national business advisor to the Biden for President campaign, joined Wake Up with Cheddar to discuss.
New York Attorney General Letitia James is ramping up a civil investigation into The Trump Organization. The AG's office has subpoenaed Ivanka Trump and Donald Trump Jr. They have refused to comply with the subpoenas. Bradley Moss, national security attorney, joins Cheddar News to discuss the next steps in this investigation.
Colorado Gov. Jared Polis has officially reduced the 110-year prison sentence of truck driver Rogel Aguilera-Mederos to 10 years, calling the initial lengthy sentence “unjust.” Dan Gilleon, constitutional attorney at Gilleon Law Firm APC, joined Cheddar to discuss more.
Former Brooklyn Borough President Eric Adams was sworn in as the newest Mayor of New York City. Adams is now expected to work on a number of issues such as crime and coronavirus. Erin Durkin,, reporter at PoliticoNY, joins Cheddar News to discuss more.
