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.
Progress for the LGBTQ community was made last week when Andi Mudryk, a long-time disability advocate, became the first openly transgender person appointed to the bench in California. Chris Johnson, White House reporter for the Washington Blade, joins Cheddar News to discuss.
President Biden proposed a new billionaire’s tax, that would subject the richest Americans to a minimum tax rate of 20 percent. The White House says billionaires pay an average tax rate of just eight percent, much lower than the national average of 22 percent. Cheddar News speaks with ProPublica’s Paul Kiel who explains how the regulation would work.
The most popular and most valuable cryptocurrency is also the least eco-friendly - data shows that Bitcoin mining generates the same amount of carbon emissions as the entire country of Thailand. According to nonprofit Fair Planet, 96 million tons of carbon dioxide emissions come from Bitcoin mining every year. Now, a consortium of climate activist groups is calling on the Bitcoin industry to cut its energy use by making changes to its software code. Michael Brune, former executive director of the Sierra Club, joins Cheddar News' Closing Bell to discuss.
Imani Gandy, senior editor for law and policy at Rewire News Group, and co-host of the podcast Boom! Lawyered, joins Cheddar Politics to discuss Ketanji Brown Jackson's upcoming confirmation hearings, and the politics surrounding several Republican attack lines against her in the lead-up.
Susannah Wellford, founder and CEO of Running Start, joins Cheddar News to discuss getting more women involved in politics. Running Start helps provide women and girls the tools they need to get involved in politics, and to see a future where they can become political leaders.
Congressional candidate Melanie D'Arrigo came on Cheddar Politics to talk about her campaign for the Democratic nomination in New York's Third Congressional district. The progressive activist ran in the 2020 primary against incumbent Democratic Rep. Tom Suozzi. The seat is open this time, as Suozzi seeks the New York Governorship.
Reecie Colbert, founder of Black Women Views Media, breaks down the roles of race and partisanship in the Senate hearings for Supreme Court Nominee Judge Ketanji Brown Jackson. She also discusses the importance of standing up for Black women in the public sphere.
Michael Kirk, director of the new Frontline documentary 'Pelosi's Power,' joins Cheddar Politics to discuss House Speaker Nancy Pelosi's long career as a Democratic leader in Congress.
President Joe Biden is ordering the release of 1 million barrels of oil per day from the nation’s strategic petroleum reserve for six months in a bid to control energy prices.
