What's inside the new GOP tax bill?

Make Me Smart

Marketplace

News, Business

4.6 • 5.4K Ratings

🗓️ 12 May 2025

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

House Republicans’ newly released tax plan includes trillions in tax breaks. But those tax cuts will come at a cost. We’ll get into it. And, Apple plans to raise iPhone prices but won’t point fingers at President Trump’s tariffs. We’ll unpack how all the tariff chaos could lead to elevated prices, no matter what they actually cost companies. Plus, sci-fi escapism and Pope Leo XIV’s love of baseball make us smile.

Here’s everything we talked about today:

"Exclusive | Apple Considers Raising iPhone Prices, Without Blaming Tariffs" from The Wall Street Journal
"With China tariffs on hold, will Americans stop stockpiling goods?" from Marketplace
"House GOP unleashes sweeping tax legislation" from Politico
"House tax writers eye SALT deduction cap rejected by key lawmakers last week" from The Hill
"Why Tolkien thought "sub-creation" was the secret to great fantasy and science fiction" from Big Think
"Pope Leo asks fan 'Sox or Cubs?' as he signs a baseball" from The Chicago Sun-Times

Got a question or comment for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

Transcript

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0:00.0	Justin's looking at me going.
0:04.2	What do I do?
0:06.6	Hey, everybody.
0:07.4	I'm Kyle Rizdahl.
0:08.1	Welcome back to Make Me Smart.
0:09.4	Where we make today makes sense.
0:12.0	And I'm Kimberly Adams.
0:13.4	Thank you for joining us on this Monday, May 12th.
0:16.0	Today we're going to do some news and then some smiles.
0:19.0	Let's start with the news.
0:20.1	Mr. Rizdahl, what you got?
0:21.2	Well, so look, I caved when it came time to put something in the rundown because I wanted to keep it,
0:26.4	you know, vaguely business in the economy. But honestly, the freaking airplane and the freaking
0:32.1	white South Africans coming as refugees and the prescription drug farce and all of it.
0:40.1	And I just, what is happening?
0:43.5	The corruption and the ineptitude and the this and that are just mind-boggling and not a peep, not a peep from Republicans in Congress.
0:52.4	It just, it makes me crazy.
0:53.9	I understand, though, why people... from Republicans in Congress. It just, it makes me crazy.
1:01.3	I understand, though, why people, and I say people being those who still have any modicum of energy to still engage with politics and, you know, do something about the things
1:07.0	happening in this country, I understand why people aren't energized around it because
1:12.2	you have people being snatched off the street and disappeared, you know, and human rights violations
1:18.4	happening and other issues that, you know, women dying in childbirth on the regular because
	...

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