A proposed tax credit to help protect homes from natural disasters

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Marketplace

News, Business

4.8 • 1.3K Ratings

🗓️ 16 April 2025

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

From wildfires in California to more recent flooding in the Midwest and South, the toll of recovering from natural disasters can be staggering. Sen. Tim Sheehy, a Republican from Montana, and Sen. Adam Schiff, a Democrat from California, have an idea: a tax credit to harden homes against natural disasters. We'll hear more. But first: why chipmaker stock prices are down and how Beijing is preparing for tougher trade relations with the U.S.

Transcript

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0:00.0	Could a tax break help pay to make a house that stands up to floods or fire?
0:07.1	I'm David Brancaccio at Los Angeles.
0:09.3	For stock prices of computer chipmakers are down this morning with AI and gaming giant
0:14.4	Nvidia down 6% in pre-market trading now limits on what the U.S. allows tech firms to sell to China are part of this. Marketplace's
0:22.3	Nova Saffo has that.
0:24.2	NVIDIA disclosed in a regulatory filing that it's taking a $5.5 billion charge because the U.S.
0:30.7	government is issuing new limits on exports of certain NVIDIA chips. These limits are on lower-powered
0:36.6	chips, which NVID which Nvidia specifically designed to
0:39.2	deal with previous export controls. Those controls were set up to slow China's advancements in
0:45.1	artificial intelligence. The Commerce Department said the new limits also apply to other chip makers,
0:50.4	such as AMD. Meanwhile, there was concerning news from the leading company that makes the
0:55.5	equipment necessary to build high-powered chips. That company is the Netherlands-based
1:01.0	ASML, and it said its outlook for this year and next has become more cloudy. It also
1:06.6	missed analyst estimates for quarterly results, and its forecast of future sales came in below expectations.
1:13.3	ASML has manufacturing operations in the U.S., but an executive said the company is not sure whether
1:19.1	tariffs will raise the costs of shipping parts here or shipping finished product out to other countries.
1:25.7	I'm Novosafo for Marketplace.
1:27.3	Reuters reports Nvidia knew about a week ago it would no longer be able to sell some advanced
1:32.1	chips in China but did not tell some of its China-based customers who were taken by surprise
1:36.8	by that. There's news China's economy grew by 5.4% January to March, lower by its modern
1:43.7	standards, but beating expectations.
1:45.9	Meanwhile, China unexpectedly appointed a new top trade negotiator.
	...

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