The U.S. lost a stunning 22 million jobs in March and April at the beginning of the coronavirus pandemic, with only about half of those numbers returning in the following seven months. With weekly jobless claims remaining high, voters might want to know more about what former Vice President Joe Biden and President Donald Trump intend to do on the issue of labor.
Biden has pledged to do whatever it takes to help jobs recover through direct stimulus payments. His plan includes funding for state and local governments to keep essential workers on their payrolls and federal payouts to supplement state unemployment checks.
Meanwhile, Trump favors tax cuts and deregulation to stimulate the economy but concedes that another infusion of cash stimulus is likely needed. The president also extended federal unemployment benefits for six weeks after they were set to expire in July but at a lower rate of $300 a week, half the amount of the earlier benefit.
Both candidates support tax incentives for manufacturers to keep jobs at home. Biden even proposes tax penalties for those businesses that ship manufacturing jobs overseas with the intention of selling finished products back into the U.S.
Whoever wins the election in November faces a daunting task, with millions still out of work, consumer spending slowing down, and a resurgence in coronavirus cases adding to the economic woes.
The Supreme Court appeared prepared Wednesday to uphold a Mississippi law that would ban almost all abortions after 15 weeks of pregnancy. The ruling is far from over, with Roe V. Wade at risk. Susan Rinkunas, senior reporter at Jezebel, joins Cheddar News to share the developments of the hearing.
The nine justices heard arguments Wednesday, around a Mississippi abortion law that bans the procedure after 15 weeks and appeared to lean toward upholding the law, while leaving uncertainty about the landmark precedent, Roe v. Wade. Kristin Ford, vice president of communications and research at NARAL Pro-Choice America joins Cheddar News to discuss.
Just about a week after being re-nominated, Federal Reserve Chair Jermone Powell is changing his tune. After nearly a year of referring to inflation as 'transitory,' Powell said he will retire the 'T' word as inflation remains elevated. Christopher Russo, Post-Graduate Research Fellow, Mercatus Center joined Cheddar's Opening Bell to discuss.
Airbnb has come under fire after an Axios report found that the rental company has properties available in China's Xinjiang region where the nation has been accused of committing genocide against Uyghur Muslims, demolishing their homes, and replacing them with tourist attractions.
With the emergence of the omicron variant, the U.S. is considering tightening international travel guidelines. The CDC said it might reduce the window for foreign travelers to submit a negative COVID-19 test from three days prior to one day before allowing entry.
Jill and Carlo cover the latest on Omicron, another school shooting in America and more. Plus, bidding farewell to 'transitory' inflation, and the controversy surrounding 'Lovely Bones' author Alice Sebold.
Disparities in tree coverage across America is a huge issue that affects air quality, heat exposure, and ultimately determines how resilient communities are against climate change. The Build Back Better Act is allocating $2.5 billion to boost 'tree equity.' Lemir Teron, assistant professor at SUNY College of Environmental Science and Forestry, joins Cheddar News to explain why this is a priority for Democrats today.
