1955: Senator Cory Booker on Taxes, Childcare and Big Ideas to Fix Our Economy
So Money with Farnoosh Torabi
Farnoosh Torabi
4.7 • 2K Ratings
🗓️ 11 March 2026
⏱️ 47 minutes
🧾️ Download transcript
Summary
U.S. Senator Cory Booker of New Jersey joins us for a wide-ranging conversation recorded in one sitting for both podcasts - The Montclair Pod and So Money.
Senator Booker first rose to national prominence as the mayor of Newark, where he built a reputation for hands-on leadership and bold policy ideas. He has now served more than a decade in the U.S. Senate, becoming one of the most prominent voices in the Democratic Party.
He’s also entering a new chapter personally: Booker recently married and is expecting his first child—something that clearly shapes how he thinks about issues like childcare, family economics, and investing in America’s future.
Our conversation comes as Senator Booker unveils a new proposal called the Keep Your Pay Act—a plan that would eliminate federal income taxes on the first $75,000 of income, a move he says could dramatically increase take-home pay for many middle-class families.
In this conversation, we discuss:
• The Keep Your Pay Act and how it could affect American households
• Why Senator Booker believes the tax system is “rigged” against working families
• The rising cost of childcare and early education in America
• Immigration reform and the climate of fear many immigrant families feel today
• The growing power of big media companies and why independent creators matter
• The economic implications of the war in Iran, including rising energy costs
• Whether Booker sees a presidential run in his future
Calculate how much Booker's proposed tax act could save your household.
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Transcript
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| 0:00.0 | So Money episode 195, Senator Cory Booker on taxes, child care, and big ideas to fix our economy. |
| 0:10.2 | You're listening to So Money with award-winning money guru Farnoosh Karabi. Each day, get a 30-minute |
| 0:16.6 | dose of financial inspiration from the world's top business minds, authors, influencers, |
| 0:22.3 | and from Farnoos yourself. |
| 0:25.0 | Looking for ways to save on gas or double your double coupons? |
| 0:28.1 | Sorry. |
| 0:29.3 | You're in the wrong place. |
| 0:30.6 | Seeking profound ways to live a richer, happier life. |
| 0:34.0 | Welcome to So Money. |
| 0:37.4 | We as a nation should take care of our most valuable natural resource, which is the inherent genius of our children. |
| 0:43.3 | In a global knowledge-based economy, the more your population learns, the more it earns. |
| 0:50.3 | And so we are way out an outlier in not providing for our children from conception to their fifth year. |
| 0:58.9 | We think, oh, yeah, public schools start up in kindergarten, and that's what the taxpayers take care of. |
| 1:04.3 | But 85, 90 percent of brain development happens actually between conception and the fifth year, yet we do nothing. In fact, |
| 1:12.9 | those are the years we put the most stress and strain on families. If you're a mom, I don't have to |
| 1:18.9 | tell you about how almost impossible it is to find high quality child care because that actually |
| 1:24.8 | costs more than tuition at your local college. |
| 1:28.1 | And yet we know children that go to high quality child care perform better, even in lifetime |
| 1:33.1 | earnings, than kids that don't have high quality childcare. |
| 1:36.7 | So to me, it's a matter of where are we going to invest, where we're going to get the biggest |
| 1:40.0 | return. |
| 1:40.9 | Child care is one of those things. |
... |
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