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
Senator Jon Tester of Montana joined Cheddar to discuss movement on a new stimulus deal in Congress after talks paused in August. Tester also discusses how Joe Biden can win back rural voters this November.
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The Federal Reserve adjusted its inflation target to seek price increases above 2% annually, a move that will likely keep interest rates low for years to come.
The federal government is outlining a sweeping plan to make COVID-19 vaccines available for free to all Americans.
This week Jon Stewart helped bring forth new legislation aimed at providing financial relief for burn pit victims. Stewart said the battle with congress is just a continued fight in getting first responders aid in the 9/11 Victim Compensation Fund. Cheddar's JD Durkin reports.
Less than five weeks after the conference announced it would push football and other fall sports to spring because of the pandemic, the conference changed course.
President Donald Trump is presiding over the signing of historic diplomatic deals between Israel and the United Arab Emirates and Bahrain that could herald a dramatic shift in Middle East power dynamics.
