Week of November 27th, 2017

What could final legislation look like?

Too bad it didn't make him any.

Some groups use their leverage on the Hill to avert a closure.

From hurricanes to wildfires to earthquakes, we’ve dealt with a lot in 2017. As communities recover, there’s a trail of money behind it all. This week, we give you an hourlong special on the economics of disaster. We head to Puerto Rico to examine life on the ground following Hurricane Maria. We look at the debt situation, the realities of life when the lights stay out and what it takes to bring power back. Plus, Puerto Rico’s dairy farmers and a surprising boom in renewable energy. Also, recovery in Texas and how Florida is handling an influx of Puerto Ricans fleeing the damage from Hurricane Maria.

You risk overheating it. If these cuts pass, and if they do, in fact, stimulate the already-growing economy, the Fed would inevitably have to pump the brakes and raise interest rates. We get into that scenario and hear listeners’ ideas about what America would look like with this tax bill in place. Plus, who the Children’s Health Insurance Program left stranded when Congress failed to extend its funding, a dispatch from coal country and the tale of how Charles Dickens wrote his hit Christmas story and ended up with almost no money.

A guide to when the Federal Emergency Management Agency get involved and the rules governing how its funds are spent.

"That was horrible. It’s an experience that I don't ever want to live through again."

"It just is one of the most challenging missions that we've really faced."

Crews from New York are among those restoring power in Old San Juan.

Rockport, Texas' mayor admits he doesn't have any place to put people who want to return home.

History points to companies spending tax cuts on paying dividends to shareholders.

While there's plenty of money for free job training in health care and trucking, local workers pack coal classes instead.

Economist Vicente Feliciano on the past, present and future of the island's economy.

(Markets Edition) Amid all this discussion about taxes, what does the Federal Reserve think? Christopher Low, chief economist at FTN Financial, joined us to discuss how they might react to a growth in GDP from the overhaul like Republicans are hoping. Afterwards, we’ll discuss the Department of Education’s plan to give the Free Application for Federal Student Aid (FAFSA) a tech makeover by making a mobile app for it. Plus: We’ll look at whether the ultra-discount retailer Big Lots has what it takes to keep up with other discounters like Walmart and Dollar General.

"If supermarkets don't have power, they won't buy your milk."

(U.S. Edition) The GOP tax overhaul could add more than $1 trillion to the deficit over the next decade, according to an analysis from the Joint Committee on Taxation, and that has Republicans concerned. On today’s show, we’ll take a look at what this means for the bill’s future, and what Senate leaders are doing to gain more votes. Afterwards, we’ll chat with Nobel Prize-winning economist Joseph Stiglitz about the link between globalization and inequality.

The move is meant to meet teenagers on their phones and make it simpler for them to apply.

(Global Edition) From the BBC World Service … The Nobel Prize-winning economist Joseph Stiglitz warns the U.K. not to trust Donald Trump when it comes to making any kind of post-Brexit trade deal. Afterwards, Tesla heralds a breakthrough in green energy technology as it fires up the world’s largest battery in South Australia. Then, we hear how India has to create millions of new jobs each month to try and absorb the young and unemployed.

Cash is becoming a thing of the past. More than one-third of Americans don’t carry it anymore, according to a recent survey by the bank ING. The U.S. hasn’t totally embraced a truly cashless society, but China has. People use WeChat to pay for taxis, groceries and rent. Even panhandlers on the street accept digital contributions. Marketplace Tech host Molly Wood talks with our correspondent Jennifer Pak, who recently spent a whole month living without cash in Shanghai.

Plus what global trade might look like if China writes the rules.

Republicans calling for lower corporate tax rates often say that the cash corporations save will stimulate growth, but the truth is, they may already have the cash on hand to do that.  And then there’s the cautionary tale of what happened in Kansas, where five years ago Gov. Sam Brownback brokered deep cuts that stagnated growth and ballooned the state’s deficit to $1 billion before the state legislature reversed them this year. In not-tax news, we discuss the bright future of Amazon’s smart speaker assistant, Alexa, the uncertain future of Britain’s economy as net migration declines more than it has in 50 years and a new transitional kindergarten program that’s shaking up the status quo.

If the early childhood education system is a food chain, district-run preschool programs in California are the new big fish, gobbling up a lot of the resources – including qualified teachers.

Differences in the House and Senate versions of the tax bill are solvable, the congressman says.

But does the emphasis on test scores contribute to segregation?

(U.S. Edition) Farmers and farm lobbyists, overall, seem to be pretty positive about the GOP’s planned tax cuts, according to economist Chris Farrell. At least, for now. On today’s show, we’ll look at what aspects of the tax bill may be a cause for concern for this group, and whether these new tax rates could mean more government austerity to come. Afterwards, as part of Marketplace Weekend’s reporting trip to Puerto Rico, we’ll look at the growth of solar on the island.

Why people are banking on solar for the future of Puerto Rico.

(Global Edition) From the BBC World Service … In Vienna,  OPEC oil producers and several other countries are deciding whether or not to keep production low past March. Afterwards, a British campaign group is taking Google to court, accusing the tech giant of unlawfully collecting information from millions of iPhone users. Then, 10 months after a general election brought regime change to The Gambia, all eyes are on tourism to boost the West African country’s stunted economy.

An increasing number of big companies are starting their own investment branches. One of them was formed just last year — JetBlue Technology Ventures. It’s led by Bonny Simi, who was an Olympic luger and TV sportscaster, as well as a commercial pilot, before she became an investor. JetBlue invests in travel-related startups, such as electric airplanes — technology that JetBlue might be able to use. Simi spoke with Marketplace Tech host Molly Wood about the company’s approach to investing. 

It’s a big moment for the tax world in Washington, and it’s even kind of … glamorous. Nancy Marshall-Genzer reports from the extravagant centerpiece of a spate of wildly popular events where tax elites can mix, talk big tax thoughts and eat Chick Fil A. And, another day, another round of prominent sexual harassment allegations. We check in with Congresswoman Jackie Speier about the one place these claims don’t seem to be sticking: Capitol Hill. Plus, in a time where most kids seem to be glued to an iPad or a cell phone, teddy bears are standing by — and their manufacturers are trying to remain profitable — Build-a-Bear Workshop’s CEO Sharon Price John tells us.

With Congress working on a tax reform bill, demand for tax theories is way up.

Sharon Price John weighs in on what it takes to survive as a teddy bear maker in an increasingly digital age.

"I'm having women come up to me and say, 'thank you so much.' And then they're telling me stories, stories that never get even heard because they never file complaints," Rep. Jackie Speier tells us about her efforts to change how sexual harassment allegations are handled in Congress.

(Markets Edition) It’s been a long stretch for stocks, bonds, gold and bitcoin. But is this just the (really nice) calm before the storm? Susan Schmidt, senior portfolio manager at Westwood Holdings, joined us to discuss the European Central Bank’s latest warning, which is that we may be in store for a global market correction. Afterwards, we’ll discuss the Supreme Court’s upcoming hearing on whether the Constitution should allow law enforcement to search our cellphone records without a warrant.

"When will we have power?" Why there isn't a straight answer.

(U.S. Edition) Senate Republicans may just be able to pass their bill to overhaul America’s tax system. Republican Sen. Susan Collins, considered a swing vote, has indicated she’d be on board if she can get two bills that would potentially “mitigate the impact” of the individual mandate’s repeal. We’ll take a look at what’s in these measures and whether they’d actually be effective. Afterwards, we’ll discuss a new report that finds public investment in K-12 has declined since 2008, and then hear from Marketplace Weekend host Lizzie O’Leary about her visit to a still-devastated Puerto Rico. It’s been months since hurricanes Irma and Maria, yet many are still without power.

(Global Edition) From the BBC World Service … The British government has offered to significantly increase the sum it is prepared to pay the European Union when it leaves the bloc. The prime minister denied the settlement is as high as 55 billion euros but it could still be the breakthrough the U.K. needs to keep talks moving forward.  Afterwards, Bitcoin has broken through the $10,000 mark for the first time, but should investors be wary? Then, a new report says that global prosperity is the highest since 2007, but warning spots include Latin America, and even the U.S. and Britain.

A Supreme Court case could determine your digital privacy. Sen. Ron Wyden wants his bill to pass first.

You take your cell phone everywhere you go. And the whole time, it’s keeping a digital record of your location. Today, the Supreme Court is hearing arguments in a case about whether law enforcement needs a warrant to access that information. Meanwhile, Democratic Sen. Ron Wyden of Oregon has been trying to pass his GPS Act, which would establish rules around the use of location information. Marketplace Tech host Molly Wood talks with Wyden about what the bill would do.

Sci-fi writer Andy Weir predicts the future of space travel using today's air travel data.

It's one of the only urban mills in the country, and business is good.

The strips of trees once protected farmers from Dust Bowl storms. Reporter Carson Vaughan wrote about them.

That’s one way to sum up the “tax trigger,” which allowed the GOP tax bill to clear the Senate budget committee today. The last-minute addition appeased deficit hawks seeking a safety net in case the economic growth triggered by the bill doesn’t quite cover what the cuts will add to the national debt. And we go to Florida, where 170,000 Puerto Ricans have already landed in the 10 weeks since Hurricane Irma hit the island. Then it’s on to Nebraska, where farmers are cutting down the trees that prevent blowing dust and dirt on the plains, and we explore an urban flour mill smack-dab in the middle of a strip mall in Pasadena, California.

Demand is up, but supply is getting expensive.

The author of “The Martian” and “Artemis” has big plans for the moon.

Speakers of the Cornish language fear EU funding for learning it won't be replaced.

More than 170,000 people have evacuated Puerto Rico for Florida and their immediate need, affordable housing, is hard to come by.

(Markets Edition) Donald Trump’s pick to replace Fed Chair Janet Yellen with Jerome Powell will face confirmation hearings today. On today’s show, we’ll take a look at what his attitude toward monetary policy might be, and how similar he is to his predecessor. Afterwards, we’ll chat with Julia Coronado from MacroPolicy Perspectives about who on the Senate might split off from the Republican party when it comes to the planned tax overhaul, and then we”ll examine why housing prices are rising much faster than wages and consumer prices.

(U.S. Edition) Trump’s choice to head the Consumer Financial Protection Bureau has instituted a freeze on hiring and new rulemaking at the agency, despite questions over whether he’s the rightful successor. The CFPB is the brainchild of Massachusetts Sen. Elizabeth Warren, who stopped by to talk us about the controversy and the effectiveness of the agency. Afterwards, we’ll speak to author Kate Moore about her book “Radium Girls,” which looks at the terrible fates of women who worked at the U.S. Radium Corp. factory in New Jersey starting in 1917. Litigation they brought against the company ultimately led to greater workplace safety laws. 

The Massachusetts senator who helped set up the bureau says the president has "created a cloud" over it.

The S&P CoreLogic Case-Shiller National Home Price Index hit a record high in August, and prices show no sign of moderating soon.

(Global Edition) From the BBC World Service … Japan’s Softbank is racing ahead in its bid to buy a stake in Uber, but in Europe, regulators are hauling the company over the coals for its massive data breach.  Afterwards, the global economy is now growing at its fastest pace since 2010, according to a new report from the OECD, a group of the world’s 35 largest economies. Then, British banks have just been put through their paces in a series of stress tests and it turns out they passed with flying colors. 

Andy Weir, author of "The Martian" and now "Artemis," on what colonizing space might look like.

Their work was killing them, and their fight shaped the way we think about job safety.

100 years ago, New Jersey factory workers fought to hold companies accountable for radium poisoning. Their battle led to our labor safety standards today.

As we get closer to sending humans to Mars, there’s been more talk about the technology and money it will take to colonize the planet. But science fiction writers have been pondering this for some time. Andy Weir is author of “The Martian,” which showed us how to survive on Mars. His new book, called “Artemis,” is about a colony on the moon. Marketplace Tech host Molly Wood talked with Weir about the real research that went into his science fiction. 

The Consumer Financial Protection Bureau, created in the wake of the financial crisis, is locked in a leadership struggle after its first director stepped down last week.

"I'm in a place where I can make a difference."

Mick Mulvaney, appointed leader of the the Consumer Financial Protection Bureau by the president, says you’re naive if you thought the government agency would stay the same under the Trump administration. But many are worried that Mulvaney will hollow out the bureau, which gives $12 billion in refunds to 30 million Americans. And we give you the Congressional Budget Office’s evaluation of another Trump-era revamp, the tax reform bill. Plus, why the Koch brothers want to buy Time Inc., what a post-Hurricane Irma citrus industry looks like and how Brexit will affect the Cornish language revival, which the European Union helped finance.

The state's congressional delegation is pushing for dedicated funding to help growers, whose losses are estimated at $760 million.

Sharon Price John was brought in to turn around the company. She says it may not be the easiest time to be in retail, but toys will always be around.

(Markets Edition) President Trump and the outgoing director of the Consumer Financial Protection Bureau have each chosen different leaders to oversee the watchdog agency. And now Leandra English, the current head’s pick, is turning the matter to federal court by filing a lawsuit to stop Trump’s appointment. Her lawyer, Deepak Gupta, joined us to give more details about the fight. Next, we’ll look at how the GOP’s planned tax overhaul could affect “Giving Tuesday,” an annual event that encourages people to donate to charities, and then we’ll discuss how Trump’s presidency may have impacted the housing market.

President Donald Trump and the outgoing director of the Consumer Financial Protection Bureau have each chosen different leaders to oversee the watchdog agency. So Leandra English, the current head's pick, has filed a lawsuit.

Leandra English, who was named interim director of the CFPB by its outgoing director, filed a lawsuit Sunday night.

(U.S. Edition) There’s a leadership tussle happening right now at the Consumer Financial Protection Bureau, the watchdog agency created after the financial crisis. Outgoing Director Richard Cordray named longtime staffer Leandra English as his replacement, but President Trump has tried to appoint budget director Mick Mulvaney. On today’s show, we’ll recap the ongoing controversy. Afterwards, we’ll discuss a leadership shakeup that’s happened in another industry: John L. Flannery took the reins of General Electric this summer. What’s his managing style like and how’s he trying to turn the company around?

(Global Edition) From the BBC World Service … Tourists are trapped on the Indonesian island of Bali as its Mount Agung volcano is in imminent danger of a full-scale eruption. Afterwards, EU officials are meeting today to decide whether glyphosate — the main ingredient of the herbicide Round Up — should be banned in Europe. Then, should Japan change its attitudes toward foreigners in order to help the economy?

Americans spend 293 hours driving each year, according to AAA. That’s more than 12 days worth of data on where we go, what we listen to, and where we stop for lunch. And make no mistake, our cars are “watching” us. John Ellis, a former global technologist with Ford and author of a new book called “The Zero Dollar Car,” imagines that we’ll be able to trade in that data for cars one day. Marketplace Tech host Molly Wood talked with Ellis about the value of car data.