Tom Steyer, the former hedge-fund executive and progressive activist, announced his candidacy for the 2020 Democratic presidential nomination on Tuesday, joining a crowded field.
“If you think that there is something absolutely critical, try as hard as you can and let the chips fall as they may. And that is exactly what I’m doing,” Steyer, 62, said in video declaring his bid.
In his announcement video, Steyer focused heavily on corporate greed and its undue influence on politicians in Washington. He stressed that big business’s avarice is the root cause of major issues such as climate change and the U.S. opioid crisis.
“Almost every single major intractable problem, at the back of it, you see a big money interest for whom stopping progress, stopping justice is really important to their bottom line,” he said.
Steyer made his fortune as the head of an investment firm and is worth roughly $1.6 billion, according to Forbes. He and his wife, Kathryn Taylor, are signatories to the Giving Pledge, a coalition of ultra-wealthy individuals that have promised to give away at least half of their wealth to charitable causes.
“We relish the opportunity to do our part and leave our collective campsite cleaner and better tended than we found it,” the couple wrote in their pledge.
In recent years, Steyer has championed several progessive causes, most notably combating the climate crisis, and has been heavily involved in California politics. He launched the liberal advocacy group NextGen Climate in 2013, which was later renamed to NextGen America following the election of President Trump.
Steyer has also been a leading voice in the impeachment movement against Trump. In 2017, he founded Need to Impeach, which lobbies members of Congress and has since gained over 8.2 million supporters.
“Through the important work of NextGen America and Need to Impeach, which I will continue to support, I've focused on registering & turning out the youth vote, and pressuring Congress to hold this president accountable by beginning impeachment proceedings,” Steyer added on Twitter. “But it's not enough.”
Tuesday’s announcement is a reversal for Steyer. He told The New York Times in January that was would not run for the White House and instead focus on doing “whatever it takes” to remove Trump from office.
Steyer’s entry into the crowded field comes just a day after California Rep. Eric Swalwell became the first candidate to bow out.
People of African and Middle Eastern descent fleeing from Russia’s invasion of Ukraine are facing the double trauma of racism at the borders. Professor of law and migration studies at the University of San Francisco, Bill Hing, joined Cheddar News Wrap to discuss what some are describing as a double standard for other refugees escaping the war. "Those that are from the Middle East and from Africa who just happen to be in Ukraine, for example on a student visa, they are not going to be able to get into Poland or another area of the Schengen area because they are not natural Ukrainian," he said.
Add FIFA to the list of organizations announcing a break with Russia. The world soccer authority has suspended the nation from competing in the 2022 World Cup tournament, while the NHL also announced suspending business relations with Russia. Executive editor and senior writer at Sports Illustrated, Jon Wertheim, joined Cheddar News to discuss the rebukes. "I think a big element of this is, this is a way to really hit at Putin because we know how much this appearance of strength and the victory… often portrayed through sports, how much that means to him," he said. "This will bother him in a way that it might not bother other world leaders."
Prices at the pump have escalated severely during the Russian invasion of Ukraine. Paul Christopher, head of global market strategy, Wells Fargo Investment Institute, joined Cheddar News to explain how he sees the gas prices continuing to spiral despite the International Energy Agency announcing the release of 60 million barrels of oil from the strategic reserves of 31 countries. "We think you could see oil and gas prices continue to rise. Oil prices maybe could hit $140 a barrel. That's possible. And that would add another 50-60 cents on top of the gasoline prices you already have," he said.
President Joe Biden is set to give his first State of the Union address amid both international and domestic crises: the Russia-Ukraine conflict and continued rising inflation and economic worries at home. He's expected to focus on a four-point plan to reduce everyday costs, and promote economic competition, among other key tenets. But will it be enough to persuade Americans that his administration will be able to get rising prices and foreign policy moves under control? Eugene Scott, national politics reporter at The Washington Post, joins Closing Bell to discuss Biden's expected focus, how he will aim to ease Americans' concerns, and more.
Dr. Daniel Bober, psychiatrist and certified addiction medicine physician, joins Cheddar News to offer tips on how parents and guardians can talk to their children about what's happening in Ukraine.
While crypto exchanges have been used to aid Ukraine amid the Russian invasion, critics point to possible sanction evasion on the Russian side using the same technology. Cheddar's Alex Vuocolo takes a closer look.
Airbnb.org has announced that it will provide up to 100,000 Ukrainian refugees with free housing. Airbnb.org is the philanthropic branch of Airbnb that provides free housing for those affected by disasters. Joe Gebbia, co-founder and chairman of Airbnb.org, joined Cheddar News to talk about how the company has helped thousands find shelter in times of crisis. "A lot of people are saying this conflict is likely to be the largest humanitarian crisis since World War II, and I believe Airbnb believes that companies have a responsibility to step up and to help out in times like these," he said.
The International Energy Agency’s 31 member countries have agreed to release 60 million barrels of oil from their strategic reserves “to send a strong message to oil markets” that supplies won’t fall short after the Russian invasion of Ukraine.
Every ten years, there’s a census. That decennial count is long and tedious and arduous…and important. Because it confirms who lives where so the Federal Government properly allocates resources, so services go to the places that need them most and - yes - so states gain or lose seats in congress and have the opportunity to redraw all their state and Congressional lines.
That means, every 10 years, states start what has famously been one of the most partisan and divisive processes in politics. Because one strategic line can mean the difference in party control in not just the state legislatures but also in congress.
Cheddar explains how gerrymandering works and why it exists.
