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
The European Commission has issued a statement condemning President Donald Trump’s travel ban to 26 European countries, announced last night in a widely criticized speech.
Massachusetts Rep. Katherine Clark called out Republican leaders for characterizing the House Democratic aid bill as being "partisan."
Canadian Prime Minister Justin Trudeau is quarantining himself at home after his wife exhibited flu-like symptoms. Trudeau's office said Thursday that Sophie Grégoire Trudeau returned from a speaking engagement in Britain and had mild flu-like symptoms, including a low fever late, Wednesday night.
Turbulent oil prices dropped to the low $30s on Thursday, falling to 16-year lows just hours after President Donald Trump announced a 30-day ban on travel from more than two dozen countries in Europe in an attempt to stem the spread of coronavirus.
She confirmed that Democrats and Republicans are working closely to pass a bill today that would provide additional protections, and free testing, following an $8.3 billion aid package last week. "No one will say I can't afford it," she said.
President Donald Trump said Wednesday he is suspending all travel between the U.S. and Europe for 30 days beginning Friday as he seeks to combat a viral pandemic.
Dow drops more than 1,400 points, or 5.9 percent.
Stocks are tumbling again Wednesday, and indexes lost more than 4 percent to wipe out their huge gains from a day earlier as Wall Street keeps reeling on worries about the coronavirus.
Senator Bernie Sanders of Vermont spoke at length about the need to defeat Donald Trump and discussed his campaign today after falling behind in another set of Democratic primaries on Tuesday but did not announce his intention to drop out of the contest.
These are the headlines you Need 2 Know for Wednesday, March 11, 2020.
