Taxes Back to Jerseyans, Markets Back to the 70s 6/30/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 30 June 2022

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

Americans are feeling the pain caused by inflation, but New Jersey is hoping to help its residents with an historically large budget plan. Governor Phil Murphy (D-NJ) discusses how Jersey’s rebate will alleviate some of the pain, from property taxes to back-to-school supplies. The markets are set to close on the worst first half in more than 50 years. The Dow and S&P 500 are on track for their worst three-month period since Q1 of 2020, and the Nasdaq is on its worst run since 2008. Plus, drama escalates in the Spirit Airlines boardroom. In this episode: Joe Kernen, @JoeSquawk Melissa Lee @MelissaLeeCNBC Andrew Ross Sorkin, @Andrewrsorkin Katie Kramer, @Kramer_Katie Gov Phil Murphy @GovMurphy

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm the NBC producer Katie Kramer today on Squawk Pod.
0:08.0	Food and fuel costs are rising, but one state giving residents a rebate to ease some of the pain, New Jersey
0:15.6	Governor Phil Murphy.
0:16.6	People at the kitchen table right now are really hurting.
0:20.2	So I don't think there's any alternative than to deliver historic relief.
0:24.8	And by the way, this rolls property taxes back to 2011.
0:29.6	Plus the markets heading into 2022's second half.
0:33.8	This is the worst first half since 1970.
0:37.8	It's not even just equities that suffered bonds.
0:40.9	The worst first half since, I think the quote was night 1788 the rising likelihood
0:48.8	of a recession and its impact on jobs the escalating drama in the Spirit Airlines boardroom
0:54.6	and sometimes on our set.
0:56.3	Kill Joe's Mike.
0:57.8	I wish I could do that.
0:59.5	It's Thursday, the last day of June.
1:02.3	Bring on Q3.
1:03.6	Squawk Pot begins right now.
1:05.8	Stand by in three, two, one, Q3.
1:10.1	Good morning and welcome to Squawkbox here, I'm CnBc,
1:12.2	we're live from the Nasak Market side in Times Square. I'm Melissa Lee along with Joe Kernan, Becky Quick is off today. This is the last day of the second quarter. It is the last day of the first half of the year. We are set for the worst half for the
1:24.4	S&P 500 since the second half of 1987 and we all know what happened in the
	...

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