Listen To The Story
Marketplace

Elections, it's been said, have consequences, and last night's local contests were no exception. The Republican losses come at an awkward time in the politics of the American economy — specifically, the tax overhaul plan the GOP's trying to get through Congress. And even more specifically, in light of the results last night, making the math work.

Damian Paletta, senior economics correspondent for the Washington Post, helped break down the GOP options for the tax plan, but that was before last night's election. We called him up after polls closed to see if that analysis had changed. In his interview with Marketplace host Kai Ryssdal, Paletta said that yes, it had. And it all comes down to how well the GOP can convince the middle class that the tax plan will benefit them.

"We're going to see a real focus on trying to make sure that the benefits are understood," Paletta said. "And probably even ratchet back a bit the tax benefits for companies so that they can ensure these benefits for the middle class will be long lasting. The question is, are voters going to believe them?"

Click the audio player above to hear the full story. 

“I think the best compliment I can give is not to say how much your programs have taught me (a ton), but how much Marketplace has motivated me to go out and teach myself.” – Michael in Arlington, VA

As a nonprofit news organization, what matters to us is the same thing that matters to you: being a source for trustworthy, independent news that makes people smarter about business and the economy. So if Marketplace has helped you understand the economy better, make more informed financial decisions or just encouraged you to think differently, we’re asking you to give a little something back.

Become a Marketplace Investor today – in whatever amount is right for you – and keep public service journalism strong. We’re grateful for your support.

Follow Kai Ryssdal at @kairyssdal