Republicans and Democrats Prepare for a Tax-Policy Fight

WSJ What’s News

The Wall Street Journal

Daily News, News

4.1 • 4.2K Ratings

🗓️ 7 June 2024

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

P.M. Edition for June 7. A 2017 tax overhaul is set to expire at the end of 2025, but tax policy reporter Richard Rubin says what comes after will depend on the outcome of this year’s election. And U.S. job numbers for May were higher than economists predicted, but unemployment also rose, painting a complicated picture of the economy. Plus, Donald Trump’s Mar-a-Lago is a South Florida gem, but just how much it is worth is a matter of dispute, as Wall Street Journal reporter E.B. Solomont discusses with Tali Arbel. 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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0:00.0	O. C.I. is the single platform for your infrastructure, database, application development, and AI needs.
0:06.0	Do more and spend less like Uber 8 by 8 and Databrics Mosaic.
0:11.0	Take a free test drive of OCI at oracle.com
0:14.4	slash Wall Street.
0:17.0	The US added more jobs than economists expected in May. GameStop shares trade wildly as roaring
0:25.2	Kitty meme stock investor Keith Gill speaks out. Plus an expiring law is setting up a
0:30.8	tax policy fight between Republicans and Democrats.
0:34.0	The corporate rate cut from 35% to 21% was permanent and a lot of the other things
0:40.0	do things affecting individuals, the higher standard of deduction, the lower rates, the higher child
0:44.0	tax credit, all of that is now scheduled to expire at the end of 2025.
0:49.2	It's Friday, June 7th.
0:51.0	I'm Alex Oscela for the Wall Street Journal. This is the PM edition of
0:54.6	What's News, the top headlines and business stories that moved the world today.
1:00.3	The Labor Department says U.S. jobs grew by
1:06.5	72,000 in May. That's much more than economists expected. An average hourly
1:12.4	wages also rose.
1:14.3	But unemployment went in the opposite direction.
1:16.6	It ticked up to 4% for the first time in more than two years.
1:20.6	Sam Goldfarb covers markets for the journal.
1:23.0	Generally people have been focused more on the jobs and the wages number.
1:28.0	It's based on a larger survey, the unemployment rate can be a little bit more volatile.
1:33.0	So basically the takeaways people aren't just completely throwing out their impression
	...

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