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
Phumzile Mlambo-Ngcuka is launching a new global program called "Generation Equality: Realizing women's rights for an equal future," a partnership between UN Women, the World Economic Forum, the private sector, and Gates Foundation.
Republican Senator Mitt Romney from Utah told Cheddar he would be interested in hearing from John Bolton as the president's impeachment trial defense headed into its final day.
Speaking before Trump's attorneys begin their final day of defense arguments in the impeachment trial Schumer maintained Democrats would not bargain on witnesses.
U.S. officials say President Donald Trump's long-awaited Middle East peace plan calls for the creation of a State of Palestine with its capital in portions of east Jerusalem.
These are the headlines you Need 2 Know for Tuesday, January 28, 2020.
The Republican senator from Texas gave some indication that he was curious about the alleged bombshell manuscript by former national security advisor John Bolton that might further implicate President Trump in his trial.
Trump's lawyers on Monday brushed past the extraordinary allegations in the draft of a new book by his former national security adviser as the legal team made historical and legal arguments for acquittal.
GOP and Dem senators offered different reactions to a bombshell New York Times report that ex-National Security Advisor John Bolton wrote in a manuscript that President Trump told him that he froze aid to Ukraine in exchange for a Biden investigation.
U.S. stocks fell sharply Monday as investors worry about the potential economic impact of the outbreak of a new virus from China. The declines in the U.S. followed a sell-off in markets in Europe and Japan.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
