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.
via GIPHY
U.S. markets reversed early losses Monday, the first trading day of the third quarter, despite concerns over trade policies. Over the weekend, tariffs from Canada kicked in, and the U.S.'s largest business group criticized the Trump administration for moves it says could spark a global trade war.
The Republican Senator from Maine has said she won't support a Supreme Court pick who explicitly says they want to overturn Roe v. Wade. But to really have an impact on the issue, says Mother Jones's Ben Dreyfuss, she should demand a guarantee that the nominee will maintain abortion rights.
A new California data privacy bill will require companies that store personal information to disclose what types of data they collect. The law also gives users the opportunity to opt out. "There's a certain point where this has maybe gone too far," Dave White, a former national counterterrorism center officer, tells Cheddar about companies collecting data.
President Trump appeared in Wisconsin on Thursday to praise Foxconn for its decision to build a manufacturing plant in the state. But many Wisconsin taxpayers are wary of the $4 billion in tax incentives that Gov. Scott Walker engineered to woo the Taiwan-based company. This comes just days after the president criticized Wisconsin-based Harley Davidson for moving some of its production abroad. "These new taxes on imports ... are driving other businesses away," says Eric Boehm, reporter at Reason.com.
If Republicans are able to force a vote before November on whoever is nominated to fill Justice Anthony Kennedy's seat on the Supreme Court, it still may not affect midterm election results all that much. That's according to Kyle Kondik, managing editor at Sabato’s Crystal Ball. “Frankly, if the seat was open, it may be more of a motivator for Republicans to show up.”
The U.S. District Appeals Court Judge has a history of conservative, pro-business rulings and has “Republican partisan chops,” according to Heather Timmons, White House correspondent for Quartz. And while Democrats might try to delay confirming any nomination of another conservative judge, Timmons said “what they can do about it is pretty minimal.”
The White House announced plans to ease restrictions on Chinese investment in U.S. technology companies on Wednesday. The Trump administration won't block companies with 25 percent or more of Chinese ownership from buying into the U.S. tech sector. Markets rebounded on the news.
The results are in from Tuesday's primary elections. Zach Montellaro, campaign reporter at Politico, joins Cheddar to weigh in on the shocking political upset in New York's 14th district. Political newcomer Alexandria Ocasio-Cortez defeated Rep. Joe Crowley, the fourth most powerful Democrat in the House.
Plus, Conagra Brands is buying Pinnacle Foods in a cash-and-stock deal worth $10.9 billion. The deal will create the second largest frozen food company in the U.S., just behind Nestle. Conagra owns Healthy Choice and Pinnacle owns Birds Eye.
Alexandria Ocasio-Cortez unseated the incumbent Democratic Congressman Joe Crowley in the primary for New York's 14th District Tuesday. The 28-year-old progressive's victory came as a surprise to many, including President Trump who tweeted this was a “big one that nobody saw coming.”
The web hosting company, which in most cases supports a "free and open internet," made the "incredibly difficult" decision to pull the white supremacist organization's site last year. CEO Scott Wagner said it was a rare instance of content that promotes violence. GoDaddy ousted that website in the immediate aftermath of violence in Charlottesville, Vir.
President Trump attacked Harley-Davidson after the company decided to shift some of its motorcycle production overseas to avoid EU tariffs. Congressman Emanuel Cleaver (D-MO) gives us his take on Trump's comments.
