The supply chain emergency leading to empty shelves and high prices. And outcry over a plan to allow the IRS to access bank data for accounts with transactions over $600. Israel's foreign minister's visit with America's top diplomats as the ... ...
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(effects whooshing)
- [Announcer] Tonight, all backed up.
- [Man] Workers here at the port
are now working around the clock.
- [Announcer] The supply chain emergency
leading to empty shelves and high prices.
Plus tax backlash.
- To reject this plan.
- [Announcer] The outcryover a plan to allow the IRS
to access bank data
for accounts with transactions over $600.
And the Israeli delegation,
the foreign ministers visitwith America's top leaders.
All this and more tonighton "Faith Nation."
(mid tempo music)
- A shortage in the supplychain could spell higher prices
ahead of the holidays.
Welcome to "Fade Nation"I'm Jenna Browder.
- Good evening, I'm John Jessup.
The broken link rather,
the United States facesin the supply chain
causing a ripple effectthroughout the economy,
including Americans wallets.
- And the White House tonighttrying to help alleviate
some of the tension,
but the strain of higherprices and shipping delays
could go on for months.
Senior Washington,correspondent Tara Mergener
has tonight's top story.
Tara, this is a big dealfor a lot of families.
- Sure is John and Jenna,
that's right in the WhiteHouse and businesses
literally from coast to coast
are warning the supplyheadaches will get even worse
as the holidays approachand demand is higher,
and this year prices willno doubt be higher too.
To help get things moving again,
the president says he'sbrokered an agreement
for the Port of Los Angeles
to become a 24 hour, sevendays a week operation.
- You're hearing a lot aboutsomething called supply chains
and how hard it is toget a range of things
from a toaster to sneakers, to bicycles.
- [Tara] Big retailersand shipping companies
are also pledging to expand their hours.
President Biden meeting withWalmart, UPS and Home Depot.
- This is the first key step
toward moving our entirefreight transportation
and logistical supply chain nationwide
to a 24/7 system.
- [Tara] LA and Long Beach ports
account for 40% of shippingcontainers that enter the US,
both suffering fromrecord-breaking backlogs.
- What happens with therailroads in the Midwest
and warehouses across the country
affects the number ofships that everyone sees
out here in the.
- [Tara] Hi consumer demand,
plus a shortage of truck drivers.
(truck engine revving)
- We're about three hours late.
- [Tara] Factory workers andother supply chain issues
are also keeping manyitems off store shelves
with the shortages expected to continue
through the holidays.
- To keep your shelves full,
we have to order eight weeksin advance, eight to six weeks.
- Basically what I'vebeen telling people to do
is start shopping early
even before Halloween.
- [Tara] But the treasury secretary
is telling Americans not to panic.
- I think there's no reasonfor consumers to panic
about the absence of goods
that they're gonna wannaacquire at Christmas.
- [Tara] The White Househas launched a task force
to examine these supply chain issues.
Economists also warndelays and higher prices
may also stifle consumer spending
in an already fragile economic recovery.
And the latest inflation reading shows
it edged up to 5.4% last month,
with the biggest increasesin food, shelter and gas.
Now, according to arecent bank rate survey,
89% of Americans now say
they have noticed these risingprices at the cash register.
66% John and Jenna say,they are hurting financially
because of them.
It's a big deal.
- It is a big deal.
All right, Tara Mergener, thank you.
Meanwhile, the Biden administration
wants to give the IRS financial data
for millions of Americans and businesses.
Under the plan banks would have to report
any customer transactions over $600.
Supporters say it would help pay
for Biden's high dollar domestic agenda
by cracking down on wealthy tax cheats.
Critics say it's an invasion of privacy.
Capitol Hill correspondent,Abigail Robertson
has the story.
Abby.
- Well Jenna, Republicanscall this proposal bizarre
and claim that it will flag all kinds
of ordinary transactionsmade by regular Americans
all the time.
- And in fact, Democratswant to let the IRS
systematically snoop through
normal families checking accounts.
As though they were allpotential financial criminals
until proven otherwise.
- [Abigail] The governmentalready has special authority
to demand information ontransactions over $10,000.
But this would drasticallydecrease that number.
- If American familiesare sending or receiving
$600 from their checking account,
Democrats want the IRSto snoop through it.
- [Abigail] Treasurysecretary, Janet Yellen,
argues the proposal hasbeen mis-characterized.
- The proposal involves no reporting
of individual transactionsof any individual.
- [Abigail] Yellen told CBS,
the goal is to holdbillionaires accountable.
- The big picture isthat we have a tax gap
that over the next decadeis estimated at $7 trillion.
Namely a shortfall in theamount that IRS is collecting
due to a failure of individuals
to report the incomethat they have earned.
- [Abigail] IowaCongresswoman Ashley Hinson
is leading the charge to block the effort.
- The government doesn't need to know
every time you're going to Costco
and stocking up on diapers and groceries.
And I think it's justan incredible invasion
of big government.
And so our bill is designedto fight back against that.
- If approved, banks will berequired to provide the IRS
with the total amount flowing in and out
of flagged accounts each year.
Now many financial institutions are saying
that all of this couldcause their costs to go up,
which the consumers would eventually feel.
John, Jenna.
- Abigail Robertsonreporting for us, thank you.
And joining us now is Norbert Michel
director for the Center of Monetary
and Financial Alternativesat the Cato Institute.
Norbert, welcome, great to have you.
- Hi, thanks for having me.- So let's start there.
What do you think about this proposed
$600 reporting requirement?
- Well, it would befunny if it was a joke,
but it's not a joke.
First thing is that this tax gap concept,
this is not new.
This idea that somehow the IRS knows
they should be taking in Xamount of money in taxes,
but they're only getting much less,
that's been going on.
They've been talking about that
for well over 30 or 40 years.
And the truth is if youknow that it's billionaires
that are cheating on their taxes,
well, you know exactlywho those people are.
There aren't that manybillionaires in the US or anywhere
relative to everybody else.
So it's very easy to go after exactly
who you say is not paying their taxes,
There's no need to collect
everybody's bank account information.
- So along those lines,
Treasury Secretary Janet Yellen says
it is not about peeking intoAmerican's pocket books,
but cracking down on wealthy tax cheats,
which you mentioned theyshould know who those are.
Is there a more effective way to recoup
that loss revenue and taxes?
- Sure, I mean, if...
I don't wanna concedethat it exists though.
And first of all, let me just throw in
that what she's saying is nonsense.
What she's saying, doesn't add up.
You're literally going to have the IRS
take a giant data file fromall these different banks.
This is very much like theanti money laundering reports.
As it is banks file
millions and millionsof reports every year
on multiple transactions,
even for people who have doneabsolutely nothing wrong.
So I'm actually a little bit surprised
that the banks are pushingback so forcefully on this,
because they're perfectly fine
with doing all the anti moneylaundering stuff that they do,
even though it's quite similar.
But it it's very easy.
The IRS has everybody'sincome information,
they know who makes abillion dollars a year.
They know who the wealthiestindividuals are in the nation.
If those people are in factcheating on their taxes,
well, there's a processfor dealing with that,
and this is not necessary.
And I guarantee you that if they audit
a billionaire or anybody else,
and they have reasonable suspicion
that you are committingfraudulent tax returns
or submitting fraudulent tax returns,
they can get your bankaccount information,
they can get everything,they can seize your assets.
There's no need to do this.
- Speaker, Nancy Pelosihas said that $600 figure
is up for negotiation.
Norbert do you think there is a figure
that would be more fair?
- No, the concept is completely misguided.
- All right, we will leave it there.
Norbert Michel with the Cato Institute,
it's great to have you on thisevening to get your insights.
Thank you.- Thank Norbert.
Thank you.
(effects whooshing)
- [Jenna] Another heatedschool board meeting
in Northern Virginia.
The shocking allegations
that are leading some parents
to call for a superintendentto resign, next.
(mid tempo music)
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(people chattering)
- But having sex before you're married
is a bad idea.
- [Man] Don't tell methere's no such thing
as drug and violence.
- That just depends on yourdefinition of when life begins.
- [Announcer] Watch Dan andDale tackle trending topics
that test your faith onthe next "Faithwire,"
Monday night at 8:30 onthe CBN News Channel,
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providing facts over fiction.
What might rising tradeand geopolitical tensions
mean for you on the home front.
- [Announcer] With over45 years of experience,
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- What about the issue of immigration?
- [Announcer] World news analysis
you won't see anywhere else.
- [Gary] And it's all righthere on the "Global Lane."
- [Announcer] Thursday night at 8:30
on the CBN News Channel.
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♪ It's like a great attraction ♪
♪ It starts a chain reaction ♪
♪ With an utmost satisfaction ♪
♪ I know of the waythis joy makes me move ♪
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- Welcome back.
Outraged parents are blaming asuburban DC school districts,
transgender bathroom policy
for claims of sexualassault against children.
That led to another 10 schoolboard meeting Tuesday night
in Loudon county, Virginia.
According to the "Daily Wire,"
Scott Smith says hisdaughter was assaulted
at a bathroom in StonebridgeHigh School last May.
When he went before the board
to share what he says happened
and to protest the policy, hesays factored into the attack,
he was arrested and later foundguilty of disorderly conduct
and resisting arrest.
Following the "Daily Wire" story,
more than 60 parents attendedlast night's board meeting
demanding the superintendent resign.
Well, joining us now is Tony Perkins
with the Family Research Council.
Tony, welcome back to "Faith Nation."
You wrote an article about this called,
"A School Horror Story ThatDid Not Fit The Narrative."
Tony, can you explainwhat you meant by that?
- Certainly, first offLoudon county is exhibit A,
in what is wrong with our public schools
where the welfare, the safety of children
being pushed to the back of the bus.
So wokeism, this liberal ideology,
and this is radical sexual policy
can be pushed on through our schools.
What we had here isthat a Scott's daughter
was sexually assaulted in a bathroom
based upon the school's bathroom policy.
It was a male wearing a dress.
He obviously was upset about that.
He was at a school board meeting in June,
and this assault took place in May.
The superintendent denied
when the bathroom policywas being considered
that no assaults had occurred.
And of course Scott was upset about this
and wanted to speak out,that's when he was arrested.
But John what's so outrageous about this
is that the NationalSchool Boards Association
that wrote the letterjust a week and a half ago
to president Biden askingthe Department of Justice
to get involved in theschool board meetings,
cited that case as their evidence,
that "domestic terrorism" is taking place
in these school board meetings.
- According to school policy, Tony,
Loudon county students are allowed to use
their chosen name and gender
to determine which bathroom they'll use.
Some parents say that's whatled to these allegations
of sexual abuse.
What do you say to that?
- Well, clearly the policies
that they're adopting on this...
I mean, look, this is insanity
that we're allowing boys
that have all of their parts as boys
to go in girl's restrooms,
that's what leads to assault.
You don't have to be a brainsurgeon to figure this one out.
This is surrendering
What is common sense to allow the Left,
to push this agenda thatsexualizes our children
and jeopardizes theirwellbeing and their safety
all to appease the Left.
The superintendent,
the documents that havebeen released so far,
make it very clear,
the school was aware of this assault,
but yet denied it in theschool board meeting.
Something needs to happen here.
- Tony, along those lines,
parents are calling for thesuperintendent to resign,
claiming that the districtcovered up the allegations
of sexual assault.
There are two alleged cases.
And given what happened tothe father, Scott Smith,
do you see that potentially happening?
- Well, the school boardreleased a statement
just a little bit ago
saying they were unaware of this,
but certainly they should takeaction on the superintendent
if they were not aware of this.
But keep this in mind,
this is just, as I said, exhibit A,
this is not the onlyplace this is occurring.
This is occurring all across America
in public schools that havethese ludicrous policies,
asinine policies that deny reality
in order to appease the Left.
It's time that parents continue,
despite what the Bidenadministration might suggest
that they're equivalentto domestic terrorists,
by signing onto
the National School BoardsAssociations letter.
But what they need to dois continue to show up
and demand that these schoolsprotect their children.
- All right, Tony Perkins withthe Family Research Council.
Tony, great to see you.
Thank you.
- Thank you.
(effects whooshing)
- A new warning fromIsrael's foreign minister,
why he's telling the Biden administration
to tread with caution.
When "Faith Nation" returns.
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- [Announcer] Nutrition,exercise, essential oils,
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It's "Healthy Living" with Lorie Johnson.
- Talk about what's in this.
- [Announcer] Join CBN healthreporter, Lorie Johnson,
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- This is fantastic.
- [Announcer] Find outwhat you need to know
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Watch healthy living,
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- [Announcer] Too often, wecarry baggage from our past.
You know what it's like.
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- Welcome back.
Iran becoming a nuclear stateis a problem for Israel.
That's been the message
from Israeli Foreign Minister Yair Lapid
during his trip to Washington this week.
Today, he brought that concern
to Secretary of State Antony Blinken.
- Every delay in negotiations
brings Iran closer to a nuclear bomb.
The Iranians are clearlydragging the heels,
trying to cheat the world
to continue to enrich uranium,
to develop theirballistic missile program.
If a terror regime is goingto acquire a nuclear weapon,
we must act,
we must make clear that thecivilized world won't allow it.
- Since the Bidenadministration took office,
Israel and the US have disagreed
over the US reinstatingnuclear negotiations with Iran.
But Lapid says, despite the disagreements,
Israel security is something both nations
view as a top priority.
While in Washington Lapidand his counterparts
also discuss programs made
since the signing of theAbraham Accords last year.
(effects whooshing)
- And for more now,
we turn to Middle EastBureau Chief Chris Mitchell,
Chris, always great to see you.
Can you tell us,
in what ways the Abraham Accords
have reshaped the Middle East,
since the historic pactwas signed last summer?
- Well, John, it really haschanged the whole Middle East.
I would say one thing that it's done
is, it's made these historic alliances
between many of these SunniArab nations and Israel public.
Actually, some of these alliances
had been under theradar for several years,
but once they codified them last year
in the Abraham Accords,
it really has changed the alliances here.
Many of these alliances areagainst the common enemy,
and that would be Iran.
But on the other hand,
it really has changed tradeand has changed tourism
and people to peoplerelationships between Israel
and many of these Sunni Arab nations.
I was at a meeting just yesterday, John,
about the Knesset Abraham Accords Caucus.
They're trying to institutionalize,
trying to move these forward.
I met a Bahraini here yesterday,
and I was asking him, washis first time in Israel.
He said, Israeli's a great people,
he loves work with them.
Just a sign of howthings are changing here
in the Middle East.
- Chris does the Biden administration
show any interest infurthering the accords?
Has there been any progress
since president Biden took office?
- John I'd say yes and no.
I mean, we had progressjust about a week ago,
Sudan said that it wasgonna seize assets of Hamas.
Hamas and Sudan had been working together
and funneling funds to theterror group in the Gaza Strip.
They have been shut off right now.
Sudan is gonna be taken offthe terror group of states.
So that's one thing, sign of progress.
Yesterday at that meeting,
I was telling you aboutthe charge d'affaires here
at the US embassy
said the Biden administration,
is gonna keep the momentum going
with the Abraham Accords.
However, John,
I don't think it's the kind of motivation
the kind of a tailwind as it were
that you would find withthe Trump administration.
So yes, there is some progress,
but I don't think the same kindof progress that you'd see.
- Chris, the Israeli delegation
that's here in the United States
keeps bringing up Iranduring their meetings.
It exposes a source of tension
between Israel and the United States.
How are the revived nuclearnegotiations with Tehran
viewed by the public in Israel?
- I think viewed by thepublic and Israeli leaders,
you could go back tothe form of government
with Benjamin Netanyahu,the current government
with Naftali Bennett.
And I know Yair Lapidthere in Washington now.
Across the board they see the nuclear deal
as something that would endanger Israel.
They feel it leaves apath for a nuclear...
Not a nuclear device,
a nuclear arsenal forthe Islamic Republic.
And they see as an existential threat.
That's why many leaders, John,
here have been saying that
Israel will go it alone if they have to.
In other words,
they're not gonna allow the United States
to have a veto over Israel,
attacking nuclearfacilities throughout Iran,
if they have to do that.
It's a last resort,
but it's something that Israel feels like
they need to do it for their own survival.
So the United States isnot gonna have a veto
over this existential threat,
that's been hanging overIsrael for many, many years.
- Many years, indeed.
Chris, as you well know,
last month, Progressive lawmakers
here in the United StatesHouse of Representatives
stripped iron dome fundingfrom a spending measure,
later, it ultimately wonapproval in another vote.
But obviously Chris,
the move made a statement.
Can you remind us how important
America's military and financial support
is to Israel's defensive measures?
- Well, it's vital John.
I mean, it's about $3 billion a year
that they get in a aid.
I know there was something signed up
with the Obamaadministration over 10 years,
I think $30 billion of aid.
But it's a two way street.
A lot of people will be here,
would like to remind Americans
that technology goes both ways.
And actually the United States
actually gets a lot of advantages
by some of the technologyand the weapon systems
that come over here to Israel.
That includes the iron dome actually.
Ironically, some of thattechnology is a joint venture
with Israel and the United States.
But certainly the kind offunds and the technology,
F35 Fighters, forexample, things like that
is something that Israelreally needs for its defense.
It's a tough neighborhood over here.
The main threat as wetalked about is Iran,
so they need the US
but I think the US also needs Israel,
it's a cooperative venture
and they really need a strong Israel
here in the Middle East.
It really does protectthe United States as well.
And especially now,
after the US's pulling out of Afghanistan,
it really does have a dominoeffect and it threatens Israel.
We talked just a few hours ago
with a former US Secretaryof State Mike Pompeo,
and he was adamant in his needthat the United States needs,
especially now after Afghanistan,
stand with the Jewish state.
- Alright, CBN, Middle EastBureau, chief Chris Mitchell,
Chris, we always appreciate your time.
Thank you so much.
- Great to be with you, John.
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- [Announcer] Nutrition,exercise, essential oils,
weight loss, and more.
It's "Healthy Living" with Lorie Johnson.
- Talk about what's in this.
- [Announcer] Join CBN healthreporter, Lorie Johnson,
to get the latest information
from today's top health experts.
- This is fantastic.
- [Announcer] Find outwhat you need to know
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Watch "Healthy Living,"
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- Finally tonight,after years been sailing
among the stars on TV on the big screen,
actor William Shatner has finallygotten a real life glimpse
of the world beyond Earth's atmosphere.
- Now the man who immortalized
"Star Trek's Captain Kirk
is making history and the process.
At 90 Shatner has becomethe oldest person ever
to blast off into space
for about 10 minutes today,
he joined three passenger
on Jeff Bezos' Blue Origin rocket
taking in an interstellarview of the earth.
- How do I go?
I can't even begin to express,
what I would love to do
is to communicate as much as possible.
The jeopardy,
the moment you see
how the vulnerability of everything
it's so smooth.
This air, which is keeping us alive
is thinner than your skin.
- Even with the fame and fortune,
Shatner says today's space flight
was the most profoundexperience of his life.
And Jenna I have to admit,
good for him as a formerTrekkie, a big fan.
- You know, he looks good.
I wouldn't say 90 for him.- I would agree.
Thanks for watching.