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
Sergeant First Class Christopher Jones talked to Cheddar about how the U.S. Army eSports division, launched out of Fort Knox, Tennessee as a recruitment effort, is thriving amid the coronavirus pandemic.
Stocks are ending lower on Wall Street as tensions flared again between the U.S. and China and as more dismal news came out detailing economic fallout from the coronavirus pandemic.
Stocks were wavering between gains and losses in morning trading on Wall Street Thursday.
The Supreme Court is temporarily preventing the House of Representatives from obtaining secret grand jury testimony from special counsel Robert Mueller’s Russia investigation.
Chris Soukup, CEO of Communication Service for the Deaf discussed with Cheddar the challenges facing the community with a lack of resources and much of the new normal stemming from stay-at-home orders.
U.S. health officials have quietly released more reopening guidance that was created more than a month ago but initially shelved.
Biden campaign senior advisor Symone Sanders told Cheddar on Tuesday,"Vice President Biden said just last week he can't wait to get back out there on the campaign trail, but we're going to do so when it's safe."
Dr. Leana Wen, an emergency physician, explained the potential risks of taking hydroxychloroquine, and how President Trump needs to change his rhetoric for the sake of public health.
Even as some states begin the process of reopening their economies, Native American tribes are dealing with disproportionate challenges during the pandemic. The Navajo Nation, in particular, has suffered greatly. "The native communities are the ones that are suffering the most from the virus," former New Mexico Governor Bill Richardson told Cheddar. "Close to 30 to 40 percent of those that are afflicted are tribal members, especially the Navajo Nation."
Federal Reserve Chair Jerome Powell said Tuesday that the central bank’s lending programs for medium-sized businesses and state and local governments will be operational by the end of this month.
