With less than three months to go before the Iowa caucus kicks off the 2020 race, the field may be getting some new competition. Former New York City mayor Michael Bloomberg is said to be preparing to enter the race, which would make him the 18th Democratic candidate.
But some of the remaining contenders may think an expanding field of candidates is a move in the wrong direction. Cory Booker’s press secretary, Sabrina Singh, told Cheddar on Friday, “I don’t know that the campaign needs another Democrat in the race.”
But another Democrat it may have, and a very wealthy one. Bloomberg, worth about $52.4 billion, according to a Forbes estimate, could be a major threat to former Vice President Joe Biden.
Singh said, “We really need someone out there that can unite the country, that can build a multiracial coalition.” Some, including Singh, question if Bloomberg is the man for that job.
Bloomberg had toyed with the idea of a 2020 run earlier this year but seemed to bow out due to Biden’s strength. As Biden falters, Bloomberg may see a chance.
Singh said the Booker campaign is mainly focused more on running a successful campaign, whether or not another contender enters the mix.
”What Cory [Booker] brings to the stage is very different than what Bloomberg brings,” said Singh. Booker “is the only candidate in this race that still lives in a low-income community: Newark” she added.
“We’re not going to mold our message to Joe Biden, Pete Buttigieg, Elizabeth Warren,” she said. “We’re going to keep running a race that we believe, that we are very confident in and see our way through Iowa and beyond.”
Peter Zalzal, associate vice president for clean air strategies at the Environmental Defense Fund, a nonprofit environmental advocacy group, joined Cheddar to discuss the Biden Administration's unveiling of stricter fuel-efficiency standards for new automobiles. "The administration estimated that these rules will reduce about 2.5 billion tons of climate pollution by 2050, and using less fuel also means that we have to go to the gas pump less often. And so it means we save money, thousands of dollars in avoided fuel costs each year for consumers," he noted.
The relatively robust March jobs report showed that despite the low unemployment rate, Black, Hispanic, and women job seekers are still having difficulty finding work. William M. Rodgers III, the vice president and director of the Institute for Economic Equity at the Federal Reserve Bank of St. Louis noted that participation rates in the labor force ticked up for minorities, adding to other positive signs of growth. He also spoke to Cheddar News to discuss further the jobs figures, the state of the labor market, and rising inflation.
U.S. markets opened higher to kick off the second quarter, despite a miss on the March Jobs Report. The economy added $431,000 in the month, slightly lower than the $490,000 analysts had expected. The unemployment rate also ticked down to 3.6% from 3.8%. Kevin Simpson, Founder & Chief Investment Officer, Capital Wealth Planning joined Cheddar's Opening Bell to discuss.
President Biden is going after billionaires in his 2023 budget request to congress. The proposal would establish a 20% minimum tax rate on all households worth more than $100 million, as well as raise the corporate tax rate from 21% to 28%. Rhett Buttle, Small Business for America's Future Senior Advisor, Business Policy Expert & Biden Campaign Business Advisor, breaks down the proposal, what it aims to accomplish, and how small businesses might feel about it.
The Biden administration has announced the U.S. will accept up to 100,000 refugees fleeing the war in Ukraine and provide more than 1 billion dollars in new funding for the growing humanitarian crisis. The move comes as President Biden meets with his western counterparts in Europe to demonstrate a united front against Russia and show support for Ukraine. Altagracia Pierre-Outerbridge, Immigration Attorney for Outerbridge Law, explains how this is going to work.
The DOJ has endorsed an antitrust bill targeting tech giants like Apple, Amazon, Meta, and Google. The legislation would ban the companies from favoring their own products and services over their competitor's, making it more difficult them to dominate the marketplace. Greg Day, Assistant Professor of Legal Studies at the University of Georgia, breaks down the bill and its potential impact on anti-competition in the tech sector.
Catching you up with what you need to know on Apr 1, 2022, with Ukrainians hoping to flee the besieged city of Mariupol with a ceasefire is in place, President Biden orders the release of oil from U.S.reserves, LGBT activists suing Florida Governor Ron DeSantis over the "Don't Say Gay" Law, U.S. passports offering an "x" option for gender, and more.
America’s employers extended a streak of robust hiring in March, adding 431,000 jobs in a sign of the economy’s resilience in the face of a still-destructive pandemic and the highest inflation in 40 years.
