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
U.S. Shadow Representative of the District of Columbia Oye Owolewa spoke to Cheddar about his belief that the recent attack on the Capitol building underlined the need for DC's statehood.
Cheddar's Megan Pratz reflects on the chaotic day of the counting of the electoral votes when the U.S. Capitol building became overrun by rioters.
The U.S. government’s deficit in the first three months of the budget year was a record-breaking $572.9 billion.
Airbnb says it will be blocking and canceling reservations in the Washington, D.C. area during the week of the presidential inauguration.
Mayor Bill de Blasio says New York City will terminate business contracts with President Donald Trump after last week’s insurrection at the U.S. Capitol.
A look at how President-elect Joe Biden's budgetary concerns will fit in with people's changing perceptions of the federal deficit and deficit spending.
Impeachment ahead, the House will first try Tuesday to push the vice president and Cabinet to act even more quickly to remove President Donald Trump from office.
Experts and insiders agree the coming year could have a lot in store for the maturing cannabis industry, from acceleration of M&A and funding in the capital markets to continuing momentum toward legalization on the state level.
Within a span of about 24 hours, three House Democrats have announced they tested positive for COVID-19.
Corporate America is quickly distancing itself from the defeated President Donald Trump.
