12/18/2017: For every action, there is an equal and opposite reaction
But instead of physics, we’re talking about tax policy. With the tax bill nearer to reality, states are starting to grapple with the fact that under the new policy, taxpayers won’t be able to deduct as much from their state and local taxes. That means lawmakers are looking to create loopholes by converting non-deductible taxes into deductible taxes. And those are just short-term fixes — we also discuss what the long-term debate might look like. Plus, the rise of “reverse commuting” in American cities, and reports from Puerto Rico, where companies like Bacardi are still recovering from Hurricane Maria, and Athens, where we look at the lingering effects of the European debt crisis.