Sen. Jeff Merkley (D-Ore.), a noted proponent of environmental protection efforts, said that the Supreme Court vacancy left by the death of Justice Ruth Bader Ginsburg could end up having dire consequences for the nation's fight against the climate crisis.
"It has enormous impact, both directly and indirectly," said Merkley, citing Supreme Court decisions that have disenfranchised voters, which he says ultimately helps fossil fuel companies.
"It is a very big deal, indeed, to lose a champion for civil rights and election integrity, as well as a champion for consumer interest over corporate interest because there is, of course, vast corporate interest in the fossil fuel world and they are winning case after case before the court," he added.
The fossil fuel industry already has an outsized impact on blocking climate regulations, using "dark money" extensively to sway votes that favor their businesses, the senator said.
In an effort to combat extreme weather affecting the U.S., Merkley and other Senate Democrats formed a special committee.
"I think we are now building tremendous political momentum to address this challenge," he said.
The committee, according to Merkley, wants to designate "$400 billion per year" to battle climate change, as well as "provide extensive subsidies" that would fast-track the transition to renewable energy.
He also said it would set 2035 as a target for the U.S. to completely stop selling fossil-fueled cars, vans, and pickup trucks.
However, in order to affect change, the group of Democrats currently needs to work with Republicans and President Donald Trump, who often downplays the reality of the climate crisis and the science backing it.
"It's a complete failure of leadership on, perhaps, the most important issue facing human civilization on this planet," Merkley said.
In order for the U.S. to reverse course on climate, according to the senator, the best option is to elect Joe Biden and Kamala Harris.
"In other words, putting America back in a position of global dialogue, global leadership so we're not only getting our own house in order, we're working in partnership with the world. It's only through that kind of partnership that human civilization is going to be able to tackle this issue,"
Jill and Carlo are a bit delayed today on account of Carlo's internet not working. Better late than never, they discuss what we know about the suspect in the Christmas parade crash, closing arguments in the Arbery killing trial, and more.
Stocks began the week closing at session lows on a day when bond yields rose and President Biden decided to stick with Jerome Powell as Fed Chair. Bryan Lee, Chief Investment Officer at Blue Zone Wealth Advisors, joins Cheddar News' Closing Bell, where he breaks down the day's activity and discusses what the Fed now needs to do going forward.
President Joe Biden announced Monday he is re-nominating Federal Reserve Chairman Jerome Powell after weeks of speculation that he would choose Democrat and Fed Governor Lael Brainard to fill the role. Biden could be looking for continuity as the U.S. continues to grapple with COVID-19 and high inflation, and investors could be on the same page: markets and treasuries ticked up after the White House made the announcement. MarketWatch Senior Reporter Greg Robb joins Cheddar News' Closing Bell to discuss Powell's re-nomination, what we can expect from the Fed's December meeting, whether it will speed up its taper timeline, and more.
President Joe Biden named Jerome Powell, initially appointed by President Trump, to keep his seat as the chair of the Federal Reserve on Monday amid the ongoing challenges of the pandemic, inflation, and unemployment. David Beckworth, a former international economist for the Treasury Department and a senior fellow with the Mercatus Center, joined Cheddar to discuss what he sees as the practicality of Biden's decision. "What Powell brings to the table is he's built up political capital with Republicans and Democrats," he said. "It's easy for him to get the job done. I think in one way he was the path of least resistance for the president."
In a surprise turn of events, Elizabeth Holmes took the stand in her own defense on Friday and is expected to continue her testimony later today. Holmes, who founded a blood testing start-up Theranos back in 2003, faces 11 counts of wire fraud as well as conspiracy to commit wire fraud. Aron Solomon, Chief Legal Analyst, Esquire Digital joined Cheddar's Opening Bell to discuss.
Jill and Carlo cover the developing story out of suburban Milwaukee, where a speeding SUV careened through a Christmas parade. Looters get more brazen in San Francisco, the missing Chinese tennis star resurfaces, and more.
Michael Tubbs, former Mayor of Stockton, California and author of 'The Deeper the Roots,' joined Cheddar Movers to talk all about his new memoir, and his ongoing fight to make meaningful change in his community.
