So, about those tax cuts from Trump’s first term…
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 6 February 2025
⏱️ 27 minutes
🧾️ Download transcript
Summary
In 2017, President Trump overhauled the federal tax structure. Eight years later, the corporate tax part of the deal hasn’t quite “paid for itself,” as promised. But the personal income part, which is set to expire this year, did help some lower-income Americans pay off debt and keep up with the cost of essentials. Will Congress act to renew it? Also in this episode: The legal outlook on Elon Musk gaining access to the Treasury’s payment system; Los Angeles fire property insurance payouts could reach historic levels; and the services sector is stronger than manufacturing right now.
Transcript
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| 0:58.3 | On the program today, |
| 1:01.0 | this economy and the law. |
| 1:04.1 | From American public media, |
| 1:06.4 | this is Marketplace. |
| 1:16.2 | Thank you. is Market Class. In Los Angeles, I'm Kyle. |
| 1:18.2 | It is Wednesday today, the 5th of February. |
| 1:21.3 | Good, as always, to have you along, everybody. |
| 1:23.5 | We are all becoming more familiar this week with parts of this economy that until now |
| 1:28.6 | had just worked. Most prominently, the critical Treasury Department payments system. |
| 1:34.8 | Elon Musk and his allies have taken some degree of control of that system and others, |
| 1:40.0 | and that and all the rest of what's happening, get right to the heart of how this economy is run. |
| 1:46.7 | Blake Emerson is a professor of law and political science at UCLA. |
| 1:50.4 | Blake, it's good to have you on the program again. |
| 1:52.2 | Thanks, guys. |
| 1:52.7 | Good to be here. |
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