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Dow futures drop over 200 points after Trump slaps 30% tariff on Mexico and the EU: Live updates CNBCAmid Tariff Chaos, U.S. Allies Try to Redraw the Trade Map The New York TimesTrump demands more concessions as EU holds off on US tariff countermeasures ReutersEU Official Says Bloc to Explore Asia Pacts as US Tariffs Loom Bloomberg
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Dow futures drop 100 points after Trump slaps 30% tariff on Mexico and the EU: Live updates CNBCStock market today: Dow, S&P 500, Nasdaq futures slip as tariff concerns mount ahead of key inflation data Yahoo FinanceHow Much More " TACO " Madness Can the U.S. Economy Take? The New YorkerDow Jones Futures Bend, Don't Break As Trump Tariffs Jump; Bitcoin Tops $122,000 Investor's Business Daily
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Dow futures sink as Trump keeps pushing tariffs while White House suggests Powell's job could be at risk FortuneUS Futures Drop as Trump Steps Up Tariff Threats: Markets Wrap BloombergWhy the near-record high stock market has taken Trump's renewed tariff blitz in stride CNBCStock market today: Dow falls 250 points, S&P 500, Nasdaq retreat from record as Trump escalates tariff threats Yahoo Finance
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The One Big Beautiful Bill Act is now law. It's expected to cost the government a pretty penny. The Congressional Budget Office predicts a $3.4 trillion increase in the deficit over ten years. This is driven by significant tax cuts, including extensions of those made in 2017.
Trump's advisors argue the tax cuts will pay for themselves. Today on the show, we speak with the guru on that school of thought, Arthur Laffer, and dig into some of those claims with a tax economist.
Related episodes:
The simple math of the big bill (Apple / Spotify)
What's going to happen to the Trump tax cuts? (Apple / Spotify)
So, how's this No Tax On Tips thing gonna go? (Apple / Spotify)
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money via Apple Podcasts or at plus.npr.org.
Fact-checking by Corey Bridges. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.
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