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
Elizabeth Warren made a vigorous case for a female president and stood behind her accusation suggesting sexism by progressive rival Bernie Sanders Tuesday night in a tense Democratic debate that raised gender as a key issue in the sprint to Iowa’s presidential caucuses.
Senior foreign policy officials from the last several presidential administrations gathered in Washington D.C. Tuesday for a series of panels and workshops aimed at creating a “roadmap for an incoming administration’s first 100 days in office,” according to the Center for American Progress.
The House is preparing to vote Wednesday to send the articles of impeachment against President Donald Trump to the Senate to start the historic trial, several people told The Associated Press.
Here are the headlines you Need 2 Know for Tuesday, January 14, 2020.
Floridians will not have the opportunity to vote on recreational cannabis in November 2020. Make It Legal Florida, the organization behind a massive push to put adult-use cannabis on Florida's ballot, announced it will instead "shift focus" to the 2022 midterms.
Here are the headlines you Need 2 know for Monday, January 13, 2020
Cory Booker announced Monday that he is ending his presidential run after he failed to qualify for the January Democratic debate.
The president of Americans for Tax Reform particularly liked the numbers that showed an all-time low for discouraged workers.
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.
Stocks are closing broadly lower on Wall Street after giving up early gains. The government's latest report on the jobs market showed a slowdown in hiring last month, but the number was solid enough to cement Wall Street's view that the job market is holding up.
