States Propose Billions in Tax Relief, but Can They Afford It?

WSJ What’s News

The Wall Street Journal

Daily News, News

4.1 • 4.2K Ratings

🗓️ 1 March 2023

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

A.M. Edition for March 1. Fueled by state budget surpluses, governors and lawmakers in more than a dozen U.S. states are proposing billions of dollars in tax relief despite concerns about a possible recession. WSJ reporter Jimmy Vielkind explains how states are funding the measures and why California and New York are taking a different approach. Plus, China’s economy emerges from the zero-Covid shadow. Luke Vargas hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	AMN Healthcare empowers you with total talent solutions to provide the highest quality care.
0:05.5	Our single partner approach goes beyond staffing to provide tech-enabled strategic workforce
0:10.2	solutions that build dynamic and successful workplaces.
0:13.7	Visit AMNHealthCare.com
0:14.7	China's economy begins emerging from zero COVID shadow.
0:25.4	Plus Russia pivots away from the dollar and a dozen states propose billions in tax relief
0:32.0	despite recession concerns.
0:34.2	As inflation started to jump up throughout 2022, officials wanted to do something to provide
0:40.3	immediate relief for their residents and their constituents.
0:45.4	It's Wednesday, March 1st.
0:46.7	I'm Luke Vargas with The Wall Street Journal and here's the AM edition of What's News.
0:52.1	The Top Headlines and Business Stories Moving Your World Today.
1:02.0	Economic activity in China has expanded sharply for a second straight month.
1:07.4	The country's National Bureau of Statistics reported today that a gauge of manufacturing
1:12.4	rose at the fastest pace in more than a decade in February, while export orders expanded
1:18.6	for the first time in almost two years.
1:21.9	The reporter Julie Steinberg has more.
1:24.6	A gauge on non-manufacturing activities, including those in the services and construction
1:29.1	sectors, also climbed.
1:31.2	All of these taken together are likely to be welcome relief for China's leaders who
1:35.3	want a spotlight growth.
1:37.3	Last year, economic growth was 3%, which fell short of the 5.5% official target.
	...

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