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
Ongoing tensions between the U.S. and Iran this week have reignited the debate about whether or not bitcoin works as a safe haven asset in times of heightened geopolitical uncertainty.
Democratic presidential candidate Marianne Williamson, the spiritual guru and bestselling author, ended her campaign on Friday, weeks before voting begins,
Secretary of State Mike Pompeo and Treasury Secretary Steve Mnuchin announced new sanctions against Iran and its economy.
In a letter to her Democratic colleagues, Pelosi said she was proud of their "courage and patriotism" and warned that senators now have a choice as they consider the charges of abuse and obstruction against the president.
U.S. employers downshifted on hiring in December, adding 145,000 jobs, with steady spending by Americans continuing to steer economic growth heading into a presidential election year.
Here are the headlines you Need 2 know for Friday, January 10, 2020
The House approved a resolution on Thursday to force the president to halt military action against Iran without Congressional authorization, restarting conversations on the role of Congress in war.
Experts say geopolitical tensions and sanctions make a hard job already harder, restricting the flow of information necessary to find the facts of the crash.
The Iowa Senator made the characterization to Cheddar after his Republican colleagues Sens. Mike Lee (R-Utah) and Rand Paul (R-Ky.) blasted the president's long-awaited and delayed briefing on the killing.
The officials, citing U.S. intelligence, spoke on the condition of anonymity to discuss sensitive information. They said they had no certain knowledge of Iranian intent. But they said it could very well have been a mistake, and that the airliner was mistaken for a threat.
