How Blue States Plan to Get More Taxes From Wealthy Residents

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 14 August 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for Aug. 14. Faced with budget shortfalls and preexisting deficits, state and local legislators are looking for ways to get more in taxes from their richest residents. WSJ economics reporter Juliet Chung describes how they’re approaching it. Plus, U.S. mortgage rates fall to their lowest level this year, offering hope to prospective buyers. And more of Americans’ retirement funds are tied to stocks than ever. Anne Tergesen, who covers retirement for the Journal, joins the podcast to discuss the risks involved. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:23.6	future with the degree you didn't think was possible. The Open University. The future is open.
0:33.6	Relief ahead for U.S. buyers and sellers as mortgage rates hit their lowest level this year.
0:39.3	Plus, how some blue states are planning to get more in taxes from their wealthiest residents.
0:44.3	A lot of states are in a situation where they could be facing budget deficits going forward.
0:48.3	And then once you add into the picture, the potential impact of the new federal tax law, the picture can start to get more bleak.
0:58.7	And after riding the AI boom, can Corweave keep its investors enthused?
1:03.7	It's Thursday, August 14th.
1:05.8	I'm Alex O'Slef for the Wall Street Journal.
1:08.1	This is the PM edition of What's News, the top headlines and
1:11.6	business stories that move the world today.
1:18.3	We begin this evening show with a lead-up to President Trump's plan meeting with Russian
1:22.8	President Vladimir Putin tomorrow in Alaska. White House press secretary Caroline Levitt said today that Trump
1:29.0	and Putin will hold a joint press conference after their one-on-one meeting in Anchorage.
1:33.9	Ahead of his trip to Alaska, Trump said in an interview with Fox News radio aired today that he
1:38.9	thinks Putin is, quote, going to make a deal. But he said there was a 25% chance talks would fail, describing the summit as a chess game.
1:47.9	If the meeting goes well, Trump raised the possibility of inviting Ukrainian President Volodomir Zelensky for further negotiations.
	...

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