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.
Even amid the spread of the Delta variant, Republican governors in states like Florida and Texas have taken actions like banning mask mandates for school districts that will soon bring students back for the year. This argument happens amid a stark increase in pediatric COVID cases.
Bianca Quilantan, education reporter at POLITICO, joins Cheddar Politics to discuss.
In stories sure to move markets next week, Robinhood and several retail giants report earnings, Jerome Powell takes the podium, New York City's mask mandate goes into effect, and Tesla hosts its 'AI Day.'
Former President Trump remains the standard-bearer of the Republican Party in his first six months removed from office. But despite his position atop the party, others are moving to shore up their own bona fides. Chief among them is Florida Gov. Ron DeSantis who has signed a bevy of bills popular among conservatives this year. He's viewed as a potential successor to trump, and that's creating tension with the still-present Trump.
Matt Dixon, POLITICO Florida bureau chief, joins Cheddar Politics to discuss.
None Of The Above's J.D. Durkin pens his open letter to Gov. Asa Hutchinson (R-AR) after the governor says he regrets signing a controversial COVID-19 law.
