Jun 8, 2017

06/08/2017: The House just voted to dismantle Dodd-Frank

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The Senate spent most of the day consumed with former FBI Director James Comey's testimony on President Trump and Russia. But over on the House side, political theater turned into economic reality with the passage of the Financial Choice Act. We'll talk about what it does, how it relates to the GOP's pledge to dismantle Dodd-Frank and its chances of actually becoming law. Then: Big news out of Kansas got a little lost this week. The state's five-year-old experiment with big income tax cuts ended this week. The idea was that low, low taxes would spur economic growth, but for lawmakers the deficits were just too much. What went wrong? Plus: We've talked a lot about the troubles facing brick-and-mortar retail — here's how one California mall says it will survive. 

Segments From this episode

The Trump administration struggles to bring down its own unemployment rate

Jun 8, 2017
Hundreds of important positions remain unfilled, and most of them require Senate confirmation.
From left, President Trump with White House Chief of Staff Reince Priebus, Vice President Mike Pence (seated) and Chief Strategist Steve Bannon.
Drew Angerer/Getty Images

Kansas legislature rejects 2012 tax cuts, once seen as a conservative model

Jun 8, 2017
Lawmakers override the governor to get taxes back on the books.
Kansas Gov. Sam Brownback pushed the tax cuts in 2012 and has defended them since. Lawmakers voted to override his veto and roll back many of those tax cuts this week.
Stephen Koranda

A look at the bill that would roll back Dodd-Frank regulations

Jun 8, 2017
Under consideration in the House of Representatives today: a big Republican platform item. Specifically, the rollback of Dodd-Frank financial regulations. This comes in the form of a bill called the Financial Choice Act. Here’s what’s in the bill and what could become law. Click the audio player above to hear the full story. Stories You […]

Fashion is having a 'model moment'

Jun 8, 2017
Many models are making the switch from wearing clothes to designing them.
Model Gigi Hadid and designer Tommy Hilfiger walk the runway during New York Fashion Week in 2016.
Randy Brooke/Getty Images for Tommy Hilfiger

Nordstrom family members weigh taking the retailer private

Jun 8, 2017
Nordstrom’s stock jumped today after the company said a group of Nordstrom family members is considering taking the company private. Like all department stores, Nordstrom has been battling a decline in shopping mall traffic and competition from online retailers. The company reported weaker-than-expected sales last month and warned of a sluggish year ahead. Among other […]

Brick and mortar stores are dying, but not at this mall

Jun 8, 2017
LA's Glendale Galleria is making shopping more convenient — and fun — for its visitors.
Many malls are still thriving because they’re staying ahead of the curve in the new retail reality. Above, a picture of the Glendale Galleria.
Rachel Murray/Getty Images for NYX Professional Makeup

In Europe, signs of economic recovery

Jun 8, 2017
These past few years have been rough for the European economy. The Greek debt crisis; shaky banks in Italy; widespread unemployment in Spain. Now, though, there are signs that things are picking up. The European Central Bank, which frames economic policy for the eurozone — the 19 countries that use the euro as their currency […]

The Senate spent most of the day consumed with former FBI Director James Comey’s testimony on President Trump and Russia. But over on the House side, political theater turned into economic reality with the passage of the Financial Choice Act. We’ll talk about what it does, how it relates to the GOP’s pledge to dismantle Dodd-Frank and its chances of actually becoming law. Then: Big news out of Kansas got a little lost this week. The state’s five-year-old experiment with big income tax cuts ended this week. The idea was that low, low taxes would spur economic growth, but for lawmakers the deficits were just too much. What went wrong? Plus: We’ve talked a lot about the troubles facing brick-and-mortar retail — here’s how one California mall says it will survive. 

Music from the episode

N.Y. Doves
Windchimes Eyeliner
Cut to Black Lemaitre
Canyons Chris Pickering