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.
Read More on Trump and Biden's Plans:
Trump vs. Biden on Raising the Federal Minimum Wage
Biden vs. Trump on Student Loans and Higher Education
In President Joe Biden's first notable gun control measures, he has announced executive actions aimed at addressing what the White House calls a “gun violence public health epidemic.
Many hope that part of Biden’s latest $2 trillion infrastructure plan would help fund construction for a decades-old proposal for a 200 mph high-speed line that could take passengers from Boston to New York City in 100 minutes.
The number of Americans applying for unemployment benefits rose last week to 744,000, signaling that many employers are still cutting jobs.
Treasury Secretary Janet Yellen called on the world's most powerful nations to pass a global minimum corporate tax of 21 percent to create "a more level playing field."
President Joe Biden is drawing a red line on his $2.3 trillion infrastructure plan. He says he is open to compromise on how to pay for the plan but inaction is unacceptable.
Lee Wong, West Chester Township Board of Trustees chairman from Ohio, made waves during an on-camera meeting when he lifted his shirt to display scars he received during his service in the U.S. Army.
Amazon founder and CEO Jeff Bezos is endorsing President Joe Biden’s focus on building up the country’s infrastructure and says the company even supports a corporate tax rate hike to help pay for it.
With more similar services on the market, there are questions if TikTok can remain king especially as it chases after advertiser dollars.
Vineyard Wind CEO Lars Thaaning Pedersen spoke to Cheddar about beginning production of its wind power farm off the coast of Massachusetts.
President Joe Biden is set to announce that he's shaving about two weeks off his May 1 deadline for states to make all adults eligible for coronavirus vaccines.
