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
A new warning about Russian interference in the 2020 election is raising questions about whether the U.S. is doing enough to prevent the kind of meddling the country saw in the 2016 election.
Roger Stone, a staunch ally of President Donald Trump, has been sentenced to 40 months in prison on his convictions for witness tampering and lying to Congress. The action in federal court comes amid Trump's unrelenting defense of his longtime confidant that has led to a mini-revolt inside the Justice Department and allegations the president has interfered in the case.
These are the headlines you Need 2 Know for Thursday, February 20, 2020.
From the opening bell, Democratic presidential foes have unleashed an aggressive verbal assault on New York billionaire Mike Bloomberg and raised new questions about Bernie Sanders' take-no-prisoners politics in a contentious debate Wednesday night on the Las Vegas Strip.
Federal Reserve officials were mostly optimistic about the U.S. and global economies last month, though they noted the risk posed by China’s viral outbreak and said they were ready to keep their benchmark interest rate at its current low level in the coming months.
At a closed-door gathering in the nation’s capital last month, representatives from close to two-dozen renewable energy, electric vehicle, and environmental advocacy organizations began the early stages of handicapping which Republican senators might be willing to join Democrats in supporting lucrative tax credits for the various green sectors – most of which were axed at the last minute late last year.
These are the headlines you Need 2 Know for Wednesday, February 19, 2020.
A bill to give Kentucky residents access to medical marijuana could go up for a full state House vote as soon as this week.
The Trump administration said Tuesday that it will waive federal contracting laws to speed construction of a wall at the U.S.-Mexico border.
These are the headlines you Need 2 Know for Tuesday, February 18, 2020.
