Sen. Chris Van Hollen (D-MD): House and Senate tax reform bills are “rotten”
The bipartisan battles on Capitol Hill are heating up as the end of the year approaches, and Congress must agree on a budget bill to avoid a government shutdown. Senator Chris Van Hollen (D-MD) told Cheddar on Tuesday that a shutdown would be “a big mistake.”
“While there are, of course, many differences on this,” he said, “we need to find a way to bridge them in order to keep the government going.”
The congressman noted that there are plenty of pressing issues that need to be addressed by the end of the year, including the Republican Tax Plan, and the DREAM Act. Van Hollen says that DACA should be at the top of the list, and criticizes the Republicans for pushing the tax bill through so quickly.
The bill was first introduced to the House in early November, and passed the Senate within a month, with a tally of 51-49 votes. The next step is for a committee to reconcile the differences between both bills before it reaches President Donald Trump’s desk. Many critics argue that the bill favors the rich, and will be a burden for the middle class in the long run. Meanwhile, some Republicans contend that the tax will encourage corporations to bring business home, and offer greater tax relief.
Van Hollen agrees with Democratic Leader Nancy Pelosi that the bills should be scrapped. He argues that both tax bills introduced to Congress, which would increased the national deficit by $1.3 trillion, are “rotten.” Beyond increasing debt, Van Hollen says that by 2019, the bill will make foreign stockholders $31 billion richer, at the cost of the middle class. The congressman says the reason is that over one-third of stocks held in U.S. corporations are owned by foreign stockholders.
“In that same, year those Americans that are going to be paying more in taxes are going to contribute about $29 billion,” he said. “Take it from the pocket of a middle class American family, transfer it to foreign stockholders.”
Meet the new generation running for office in the midterm elections. Maxwell Frost, a 24-year-old Democrat, is the youngest candidate running for Florida’s 10th congressional district. A member of Gen Z (those born after 1996) Frost spoke to Cheddar about objectives that he believes are top of mind for his age bracket, including tackling gun violence, healthcare for all, and LGBTQ+ rights, especially in light of his state's recently enacted, so-called “Don’t Say Gay" law.
President Biden has announced a historic release of oil from the U.S. reserves in an attempt to cut down surging gas prices across the country. The administration will release 1 million barrels of oil per day for the next six months, marking the largest withdrawal in the nearly 50-year history of the country's emergency supply of oil. Patrick DeHaan, Head of Petroleum Analysis at GasBuddy, breaks down why the Biden administration is making this unprecedented move, and what impact it could have on prices at the pump.
The Biden administration plans to freeze federal student loan payments through Aug. 31, extending a moratorium that has allowed millions of Americans to postpone payments during the coronavirus pandemic.
Catching you up on what you need to know on April 5, 2022, with Biden's call for a war crimes trial for Putin, another arrest made in the Sacramento mass shooting, NYC rolling out a campaign against Florida’s "Don’t Say Gay" bill, an aluminum shortage potentially affecting beer and cat food cans, and more.
After a devastating mass shooting in Sacramento over the weekend that killed six people and wounded a dozen more, arguments about gun reform are also resurfacing. David Pucino, deputy chief counsel at Giffords Law Center to Prevent Gun Violence, joined Cheddar News to talk about efforts to curb gun violence such as community intervention programs — and the more that needs to be done by lawmakers. "One thing that would be really important is at the federal level closing the loopholes that allow for private sales to go forward without a background check," he noted.
