Every weekday on Marketplace, Kai Ryssdal hosts a lively and unexpected exploration of the day’s business and economic news from Wall Street to your wallet.
Senate Majority leader Mitch McConnell pumped the breaks on health care today, delaying the vote on the GOP's Obamacare replacement until after the July 4 holiday. Stocks took a little dive today amid all the uncertainty, in no small part because the health care bill is actually a tax bill. Something we'll try to hash out today: this plan is all about making health care more affordable, but once you get past all the politicking, what's that even mean? Then: the latest on ransomware attacks that are spreading accross Europe today. Plus, looking back at the legacy of ATMs, on their 50th anniversary.
The Senate Republican health care bill was first shown to the public Thursday, with an eye on voting a week later. Today we got the Congressional Budget Office score. The headline numbers are 22 million people losing coverage and a $321 billion deficit reduction by 2026. We'll talk through what it all means and what to keep an eye on as the bill hurtles toward a vote Thursday. Then: The president is a former CEO who wants to run the company like a business, so let's tease out how the U.S. government is and isn't like a public company. Plus, the first in a series of stories we're doing on globalization.
We thought we could go the whole day without talking about, um, that big bill the Senate unveiled this week. No dice. But we're getting it out of the way right up top, discussing the Senate's hurry-up-and-wait-outside approach to health care reform and what this bill is really designed to fix. Then: U.K. Prime Minister Theresa May is trying to negotiate a trade deal on her way out of the E.U., and some Brexit supporters are pushing the so-called "nuclear option." Plus: We're used to paying $700ish for an iPhone or Samsung Galaxy, but the Wall Street Journal was able to build one for a tenth of the price. What gives?
At long last, Senate Republicans have revealed their health care bill. It was hatched in secret, and they hope to vote on it in a week so let's dig in. It's similar to the plan passed by the House: Sharp and sweeping cuts to Medicaid, more power to states to decide what insurance plans have to cover, shrinking the Obamacare subsidies. Here's what it won't do: make health care cheaper. We'll talk about why, then head to Arkansas, where a plan to roll back Medicaid expansion will put tens of thousands back on the exchanges, if they can afford it. Plus: An interview with the executive director of Covered California, the state's Obamacare exchange.
Uber CEO Travis Kalanick is making his time away from the C-suite permanent amid investor pressure and a PR firestorm. Kalanick's company changed transportation as we know it, and his aggressive attitude toward growth over everything got the company where it is today in every sense. We'll talk about it. Then: As the GOP keeps hashing out its bill behind closed doors, insurers are deciding whether to stay on Obamacare exchanges. Some big players are dropping out, and that's giving smaller companies an opportunity. Plus, it's the first official day of summer, so we have a conversation with Carnival cruise line CEO Arnold Donald.
We know about as much about Senate Republicans' plan to repeal and replace Obamacare as we did yesterday — pretty much nothing, except that we might be able to see the secret bill Thursday. That's a lot of uncertainty around a plan to rework 17 percent of the economy. So in the meantime let's talk about that number. Where'd it come from? Then, as we continue on series "The Big Promise," we'll look at one problem facing rural Pennsylvanians President Trump hasn't talked much about: the digital divide. The lack of high-speed internet means video rental stores still clean up and some business owners have to rely on expensive data plans to get connected. Plus, it's a perennial question that pops up this time of year: Why aren't Americans taking vacations?