As Hurricane Irma bears down on Florida, it seems possible that in the worst-case scenario this storm could top $1 trillion in damage, to say nothing of the lives at risk. We'll look at what insurers are watching and how it compares to Harvey, plus the way private companies mobilize to provide disaster relief. Then: Everything you need to know about the massive data breach at Equifax. Finally, as we do every week, we'll wrap up a very odd five days of news.
You could look at the deal President Trump made with leading Congressional Democrats yesterday as a sort of butterfly effect situation; A seemingly trivial act that massively alters the country's future. As we broadcast today, a bill just passed the Senate with both the first dose of Hurricane Harvey relief money and government funding for the next three months while raising the debt limit. Those last two were going to suck up a lot of energy later this month. The House still has to vote on it, but it's a big deal, and Congressional Republicans are left trying to figure out what it all means for their economic agenda. Then: With the Gulf Coast picking up the pieces after Harvey, and Hurricane Irma bearing down on millions more, we'll take a long at the years-long recovery process after a natural disaster. Plus: What city will land Amazon's second headquarters?
President Trump made a big tax speech in North Dakota today. A key feature in his plan: Cutting the corporate tax rate, which currently sits at 35 percent. It's not clear how much Trump will be able to cut, however: Every percentage point cut in the corporate tax rate would cost the U.S. Treasury an estimated $100 billion over a decade. We'll talk about it, plus the latest departure from the Federal Reserve. Then: We're continuing our series "Trade-Off" with a look at retraining. When people lose their jobs to globalization, government programs are meant to get them ready for new jobs. But reinvention is hard. Plus: Why is "'Star Wars' movie director" seemingly one of the highest-turnover jobs in the country?
Attorney General Jeff Sessions announced President Trump's decision today to end DACA, an Obama-era rule protecting undocumented immigrants brought to the U.S. as children. Sessions argued, without evidence, that the 800,000 or so "Dreamers" harmed the labor force. We'll start the show today looking into that claim. Then: Congress is back to work, and topping its long list of priorities is disaster relief. The House is taking up the first bit tomorrow, and we'll talk about what that $7.8 billion will buy. Plus: we hear a lot about tax brackets, but what do you really know about them? We're here to help.
North Korea has ratcheted up tensions again by testing what it called a hydrogen bomb on Sunday. Treasury Secretary Steve Mnuchin said he's working on plans to further sanction the country and, potentially, one of the United States' biggest trade partners: China. We'll talk with former U.S. ambassador Joe DeThomas about how that might play out. Then: Efforts to boost the minimum wage have gotten a lot of attention lately and proponents have scored some major victories. But workers rights advocates are now asking: What good is a wage boost if workers don’t know how many hours they’re working every week? Oregon is the first state to legislate predicable work schedules, and the movement is gaining traction. Plus: this Labor Day weekend, the summer movie season limped to a close with no new wide releases. So what happened?
The free market is cold-blooded. Under normal circumstances, prices will balance out for supply and demand. Consumers adjust, and the economy goes on its way. But what's going on in Houston are not normal circumstances, and price-gouging is rampant. Economists will tell you those prices make sense, but making business sense is another matter. Then: The Department of Health and Human Services is cutting Obamacare advertising by $90 million. Critics say Trump is trying to sabotage his predecessor's signature legislation, but the administration insists the ads just didn't work. Speaking of ads: TV is starting to take cues from social media, with six-second ads aimed at short attention spans. Finally: Global trade always has winners and losers, and this country has always struggled with thinking about the latter. That's the focus of today's installment of our series "Trade-Off."