We get down to the differences between the Senate and House versions of the tax bill, and debt created is one of those differences. Also included is the number of tax brackets, the alternative minimum tax and the amount of the child tax credit. Plus, Marketplace’s Dan Gorenstein is in Boston looking at how to woo investors to a working-class neighborhood in order to create a healthy, mixed-income community, and Kai Ryssdal figures out how to tell the difference between real and fake Nikes with Eddy Lu, CEO of GOAT, an online sneaker resale marketplace that specializes in authenticity.
You risk overheating it. If these cuts pass, and if they do, in fact, stimulate the already-growing economy, the Fed would inevitably have to pump the brakes and raise interest rates. We get into that scenario and hear listeners' ideas about what America would look like with this tax bill in place. Plus, who the Children's Health Insurance Program left stranded when Congress failed to extend its funding, a dispatch from coal country and the tale of how Charles Dickens wrote his hit Christmas story and ended up with almost no money.
Republicans calling for lower corporate tax rates often say that the cash corporations save will stimulate growth, but the truth is, they may already have the cash on hand to do that. And then there's the cautionary tale of what happened in Kansas, where five years ago Gov. Sam Brownback brokered deep cuts that stagnated growth and ballooned the state's deficit to $1 billion before the state legislature reversed them this year. In not-tax news, we discuss the bright future of Amazon's smart speaker assistant, Alexa, the uncertain future of Britain's economy as net migration declines more than it has in 50 years and a new transitional kindergarten program that's shaking up the status quo.
It’s a big moment for the tax world in Washington, and it’s even kind of ... glamorous. Nancy Marshall-Genzer reports from the extravagant centerpiece of a spate of wildly popular events where tax elites can mix, talk big tax thoughts and eat Chick Fil A. And, another day, another round of prominent sexual harassment allegations. We check in with Congresswoman Jackie Speier about the one place these claims don’t seem to be sticking: Capitol Hill. Plus, in a time where most kids seem to be glued to an iPad or a cell phone, teddy bears are standing by — and their manufacturers are trying to remain profitable — Build-a-Bear Workshop’s CEO Sharon Price John tells us.
That’s one way to sum up the “tax trigger,” which allowed the GOP tax bill to clear the Senate budget committee today. The last-minute addition appeased deficit hawks seeking a safety net in case the economic growth triggered by the bill doesn’t quite cover what the cuts will add to the national debt. And we go to Florida, where 170,000 Puerto Ricans have already landed in the 10 weeks since Hurricane Irma hit the island. Then it's on to Nebraska, where farmers are cutting down the trees that prevent blowing dust and dirt on the plains, and we explore an urban flour mill smack-dab in the middle of a strip mall in Pasadena, California.
Mick Mulvaney, appointed leader of the the Consumer Financial Protection Bureau by the president, says you're naive if you thought the government agency would stay the same under the Trump administration. But many are worried that Mulvaney will hollow out the bureau, which gives $12 billion in refunds to 30 million Americans. And we give you the Congressional Budget Office’s evaluation of another Trump-era revamp, the tax reform bill. Plus, why the Koch brothers want to buy Time Inc., what a post-Hurricane Irma citrus industry looks like and how Brexit will affect the Cornish language revival, which the European Union helped finance.