Jon Greenberg, staff writer for Politifact, breaks down some of the rhetoric from the left and the right around the GOP tax reform bill.
Chris Ruddy of Newsmax claimed that the GOP bill would bring in $3 trillion of offshore funds back into the economy from large U.S. corporations receiving a tax cut overseas. But just how true is this? Politifact has rated the statement half true. Greenberg notes that while corporations are receiving a reduction in overseas taxes, 45% of the $3 trillion made overseas is already in the U.S.
Greenberg also weighs in on House Minority Leader Nancy Pelosi's statement that the GOP bill would "sabotage" the healthcare of 13 million Americans. Greenberg details just what happens when the individual mandate is repealed. He explains that the repeal of the individual mandate will cause healthy people to leave the marketplace, which will cause costs to go up for those that are sick. That means some of those people won't be able to afford health insurance anymore. Politifact's overall rating of Pelosi's statement: half true.
Credit Suisse violated a plea agreement with U.S. authorities by failing to report secret offshore accounts that wealthy Americans used to avoid paying taxes, U.S. lawmakers said Wednesday.
According to a Reuters report, JPMorgan CEO Jamie Dimon is being deposed over the bank's relationship with sex offender Jeffrey Epstein.
Capitol hill is trying to get to the bottom of the bank collapses that shocked the financial system last month, and today lawmakers grilled banking regulators about why they weren't able to stop the crisis. Cheddar News correspondent Lisa Bennatan broke down the proceedings.
Juul will finally have its day in court for its role in the teen vaping epidemic. The Minnesota attorney general is preparing for opening arguments in the state's lawsuit against the vape maker. Here to break down the complicated backstory for this legal case is Senior Reporter Chloe Aiello.
The Supreme Court will decide whether a disabled activist can file disability rights lawsuits against hotels she doesn't intend to visit.
Massachusetts Democratic U.S. Sen. Elizabeth Warren announced Monday that she will seek a third term in 2024.
The Biden administration has issued a statement saying it will veto a GOP-led bill aimed at bringing down energy costs by making it easier for energy companies to get permits for domestic drilling.
House Speaker Kevin McCarthy said lawmakers will move forward with a bill to address national security worries about TikTok.
President Joe Biden’s choice to run the Federal Aviation Administration has withdrawn his nomination, a setback for the administration that comes after Denver International Airport CEO Phillip Washington appeared to lack enough support in the closely divided Senate.
Facing a potential indictment, Donald Trump took a defiant stance at a rally Saturday in Waco, disparaging the prosecutors investigating him and predicting his vindication as he rallied supporters in a city made famous by deadly resistance against law enforcement.
