Voters went to the polls thinking about how four-decade high inflation rates had scorched their wallets.
On Wednesday, President Joe Biden acknowledged that the Democrats took losses — just not as many as pollsters predicted. He also noted that inflation weighed heavily on voters. “There are still a lot of people hurting that are very concerned,” he said. Markets generally react well to a split Congress, experts note. When one party controls Congress and the other controls the White House, that can slow down — or outright neutralize — the chance of laws changing federal regulations, tax provisions and, ultimately, corporate bottom lines.
So far, 40 states, and D.C., have gone along with Medicaid expansion, according to the Kaiser Family Foundation. Meanwhile, 11 states, almost all in the South, have resisted expansion, including the nation’s most uninsured state: Texas, where 18% of people lack health coverage, according to U.S. Census Bureau data.
Orlando, Orange County’s largest city, was in the depths of an affordable-housing shortage even before the pandemic. Earlier this year, Walt Disney World DIS, +4.28% said it would set aside 80 acres of its land for affordable housing development. Voters in Portland, Maine, which already had rent controls in place, green-lit a referendum that will allow landlords to only implement standard annual rent increases of 70% of the rate of inflation, rather than the current rule of 100%, according to the Portland Press Herald.
Voters in deep-blue D.C., meanwhile, handily approved a ballot measure Tuesday that would end the separate minimum wage for tipped workers, ensuring they have the same $16.10-an-hour pay floor as non-tipped workers by 2027, according to the Washington Post. Opponents of the measure had said it would limit workers’ earning potential and saddle businesses with higher costs.
“We’ve done what some thought was impossible — passed the Fair Share Amendment to create a permanently fairer tax system and deliver billions of dollars in new revenue for our public schools, colleges, roads, bridges, and transit systems,” Jeron Mariani, Fair Share for Massachusetts campaign manager.But in California, voters rejected a 1.75% tax increase on residents making at least $2 million. The AP projected the loss with 59% voting against Proposition 30.
Tax cuts are good, its one of the only reasons our country is still solvent right now after all of that spending… Did anyone notice how much TAX was on the powerball winner was going to pocket out of the $2billion ? Hahahahahaha
'Rich households'.... you mean like $50,000 What is considered 'rich' to you, is likely middle class to me.
No tax cuts 4 billionaires
inflation not hurting rich households
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