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.
As we celebrate Black History Month, Cheddar is highlighting prominent Black Americans who are carving their own historic paths and trailblazing in their fields. Today we feature Ketanji Brown Jackson, the first Black woman SCOTUS nominee.
Russia's invasion of Ukraine went hand in hand with cyberattacks against Ukrainian government websites and financial institutions. Cheddar News speaks with cybersecurity expert Karim Hijazi, CEO of Prevaillon, on why the Russian cyberwarfare is concerning to other nations.
Florida legislation being called the 'Don't Say Gay' bill would restrict some discussion of sexual orientation and gender identity in classrooms with young students. Jon Harris Maurer, public policy director at Equality Florida, joins Cheddar News to discuss.
President Joe Biden promised during his campaign to focus on stable and ally-focused foreign policy, and the Russia-Ukraine crisis seems like an opportunity for him to focus on that tactic after last year's chaotic Afghanistan withdrawal. So far, Biden and western allies have banned together to sanction Russian banks, billionaires, and even President Vladimir Putin himself. Meanwhile, Biden has not deployed U.S. troops to intervene directly in Ukraine. Jack Detsch, national security reporter at Foreign Policy, joins Closing Bell to discuss why Biden is focusing on a sanctions-based, ally-focused strategy, what impact sanctions could have on Russia's economy, and more.
As Russia continues its attack on Ukraine, protests are popping up in major cities across the U.S., including across the street from the United Nations in New York City.. Chloe Aiello reports.
