The Big Tax Hike Coming in Just Over a Year
Odd Lots3 Okt 2024

The Big Tax Hike Coming in Just Over a Year

In 2017, Congress passed the Tax Cuts and Jobs Act, which may be better known as the Trump tax cuts. Due to the way fiscal policy works in the United States, a large component of the bill was temporary. And starting in 2026, millions of households are due to see higher taxes if the bill isn't extended or a new one is passed. Regardless of who wins the presidency, dealing with this tax hike is going to be a key political issue. But what is the TCJA? What was the idea behind it? And what happens if it expires? On this episode of the podcast we speak to Kevin Brady, who was the architect of the bill as the former Chairman of the House Ways and Means Committee. We discuss both the economics and the politics of passing tax reform, and what Brady hoped to accomplish when he created the law.

Read More: Trump Tax Cuts Would Cost More Than Almost All Federal Agencies

See omnystudio.com/listener for privacy information.

Episoder(1189)

Anthropic, the Pentagon, and the Future of Autonomous Weapons

Anthropic, the Pentagon, and the Future of Autonomous Weapons

The last big story right before the war in Iran started was the collapse in the relationship between the Pentagon and Anthropic, with the latter objecting to any potential use of its models in either ...

28 Mar 51min

Now There's a Helium Shortage and It Affects More Than Balloons

Now There's a Helium Shortage and It Affects More Than Balloons

Ripple effects from the war in Iran and the closure of the Strait of Hormuz continue to widen. There's yet another brewing shortage, this time in helium. While most people associate helium with balloo...

27 Mar 50min

This Is How Big Money Is Trading the War in Iran

This Is How Big Money Is Trading the War in Iran

Markets are often said to be "headline-driven," but that cliché has rarely felt more true than it does right now. A single tweet or Truth Social post can send prices sharply higher or lower, and inves...

26 Mar 39min

The Petrochemicals Shock That's Already Rippling Through Plastics

The Petrochemicals Shock That's Already Rippling Through Plastics

Everyone knows by now that war in Iran is curbing the flow of oil around the world. But oil isn't just a gasoline and jet fuel story, of course. It's also a crucial feedstock for a bunch of petrochemi...

25 Mar 53min

David Shor and Byrne Hobart on the Politics of a White-Collar Wipeout

David Shor and Byrne Hobart on the Politics of a White-Collar Wipeout

Nobody knows when or if AI will lead to mass displacement of white-collar work. But the anxiety is clearly here now, and there's very little evidence that our politicians are taking it seriously. Of c...

24 Mar 55min

What the Iran War Means for Dubai's Luxury Boom

What the Iran War Means for Dubai's Luxury Boom

Dubai has become a huge destination for the rich, with an influx of high-net-worth residents driving up property prices and boosting the UAE's tax revenues in recent years. And of course, Gulf countri...

23 Mar 55min

Here's Why The Iran War Is Prompting A Safe Haven Rethink

Here's Why The Iran War Is Prompting A Safe Haven Rethink

Here's Why is Bloomberg’s short explainer podcast, where we take one big news story and break it down in just a few minutes with help from our experts across the newsroom. We're dropping into your fee...

21 Mar 12min

Greg Brew on Surging Energy and the 'Strategic Trap' of the War in Iran

Greg Brew on Surging Energy and the 'Strategic Trap' of the War in Iran

The war in Iran has already lasted longer than many people might have expected. There was an initial assumption, after oil prices started surging, that President Trump could just declare victory at an...

20 Mar 53min

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