The tax bill's winners and many, many losers
Explain It to Me
Vox Media Podcast Network
4.4 • 8K Ratings
🗓️ 3 November 2017
⏱️ 57 minutes
🧾️ Download transcript
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| 0:00.0 | Texture Farm. It's out. It's happening. Yeah, it's happening. It's happening. |
| 0:17.7 | Hello, welcome to another episode of The Weeds from the Box Media Podcast Network. I'm Matthew Glacias. |
| 0:22.3 | Joining me today I have two guys named Dylan. We've got Dylan Matthews, who is visiting us from |
| 0:29.2 | the New York office and Dylan Scott. It's a lot of Dylan's, you know, a little less |
| 0:34.0 | less diversity. We're all wearing glasses. But it's a great crew to talk about the Texture |
| 0:39.6 | Farm bill that was unveiled to much fanfare yesterday by House Republicans after a lot of anticipation. |
| 0:47.3 | And I have to say there was a lot of leaks. I mean, there had been a lot of discussion about this. |
| 0:52.9 | This was not exactly like the tightly held secret that the healthcare bill was. |
| 0:58.8 | But I was still kind of surprised with what came out. It wasn't, it tracked the broad themes |
| 1:05.2 | of the framework, but it was not exactly what I had expected. And Dylan Matthews, you |
| 1:11.0 | you know, good piece up today about it. It's sort of surprisingly bad. |
| 1:15.7 | Right. So I should say upfront, like I'm not the target audience for a Republican tax bill. I |
| 1:20.8 | don't think it's that important to cut marginal rates on rich people or give tax relief to corporations. |
| 1:27.0 | But there were a couple of things that I was still sort of excited about in the overall framework. |
| 1:31.5 | I think the main thing was there was really a possibility of them not just expanding the |
| 1:36.9 | child tax credit, but making it more accessible to poor families. The way that the credit set up now, |
| 1:42.8 | there's sort of a sort of complicated formula to decide if you get some of it back. If you don't |
| 1:48.0 | have an income tax liability, like most poor families don't. And Mark Harubio and Mike Lee, |
| 1:54.4 | and importantly, Ivanka Trump had been trying really hard to expand that and allow more poor families |
| 2:01.6 | to claim more of the credit. That did not make it into the final bill. What did make it in |
| 2:06.2 | is this provision requiring social security numbers for people who claim the child tax credit, |
| 2:11.1 | which is a thing that sounds reasonable until you remember that there are undocumented immigrants |
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