Podcast appearances and mentions of ben steverman

This Valentine’s Day, as many as 13 million more Americans are single than before the pandemic. On today’s Big Take podcast, Bloomberg reporter Ben Steverman shares what he’s learned about the cause of this love slump and how it’s taking a toll on Americans’ hearts and on the US economy. And host Sarah Holder meets a group of singles taking matters into their own hands. Read more: The Covid Pandemic Left an Extra 13 Million Americans SingleSee omnystudio.com/listener for privacy information.

In his farewell address to the American public last night, President Biden warned of an oligarchy of extreme wealth, power and influence that's threatening democracy in the US. But, it turns out the top 0.1% of the wealthy did very well during Biden's four years in power. On today's Tech and Business Report, KCBS Radio's news anchor Steve Scott spoke with Bloomberg's Ben Steverman on the matter.

PBS reports on an Ohio city with a community of Haitian migrants that’s now in the political spotlight. Ben Steverman with Bloomberg Businessweek explains how the pandemic caused a recession in Americans’ social lives, and what that means for the U.S. economy. Families who’ve been torn apart by QAnon conspiracies told their stories to author Jesselyn Cook. She breaks down what she’s learned on Apple News In Conversation. The judge in the Georgia election-interference case knocked out two charges against Trump. Politico has details. NPR looks at new data on the impact of Taylor Swift’s endorsement of Harris. We now know why Earth vibrated for nine days in 2023. The Wall Street Journal reveals how the mystery was solved. Today’s episode was hosted by Shumita Basu.

Tucked into President Biden's massive Inflation Reduction Act is a pot of money–$15 million–for the Internal Revenue Service to study a long-talked-about idea: Building an online IRS platform that would enable taxpayers to file their taxes easily and for free. If it moves ahead, it could mean an end to frustratingly complex forms and fees to accountants and tax prep companies. There are plenty of obstacles in the way. Some politicians and industry groups in Washington are already lining up against it. And it's not clear Americans would trust the IRS to calculate their refund–or how much they owe. Bloomberg reporters Laura Davison, Brody Ford, and Ben Steverman join this episode to talk about the promise—and potential pitfalls—of a public filing option for all. Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK  Have questions or comments for Wes and the team? Reach us at bigtake@bloomberg.net.See omnystudio.com/listener for privacy information.

We all might one day be replaced by robots or ChatGPT. But for now, businesses still need humans to make computer chips or staff daycare centers. Problem is, too few workers in the US are actually working and too few people are having babies. That's a major concern for American industry, policymakers, and most immediately, tech giant Intel Corp. The company is trying to find 7,000 people in central Ohio to build its new semiconductor facilities and 3,000 more to staff them.On this, the season's final episode of Stephanomics, we dig into the super-tight US labor market, which is expected to get even tighter as more of the nation's skilled workers retire. First, senior reporter Shawn Donnan visits Licking County, Ohio, future home to a $20 billion chip plant that will pay workers an average annual salary of $135,000. The Biden administration hopes Intel's project sparks a wave of manufacturing projects in strategic industries like semiconductors and electric vehicles. Then reporter Ben Steverman offers some insight into the roughly 2.6 million US workers who've gone missing since the pandemic began. A recent study by Harvard University economist Raj Chetty suggests many of them waited tables, cut hair and staffed gyms in relatively affluent neighborhoods. When these wealthy residents slashed their spending and stayed home as Covid-19 bore down, it created a wave of business closures and job losses. Many of those workers, Steverman explains, never returned. Meanwhile the nation's working-age population is growing at its slowest pace since 1960, and total population actually dropped in at least 24 states, including Ohio. Host Stephanie Flanders follows up on America's demographic challenges with University of Maryland economist Melissa Kearney, also director of the Aspen Economic Strategy Group. The US birth rate, at just under 1.7 children per woman, is well below the so-called replacement rate of 2.1, and the share of working-age adults who are actually working is falling, says Kearney.   Long term, fewer workers means fewer ideas and less specialization, she warns, all of which could mean lower income and living standards in the US and globally. See omnystudio.com/listener for privacy information.

Billionaires are increasingly taking advantage of a provision in the US tax laws that lets them park money designated for charity in something called a donor advised fund. They get a tax break up front…and can let the money sit in the fund for as long as they like. It's eventually got to be given to a charitable cause, but they don't have to say when, or where it'll go.  Bloomberg reporters Noah Buhayar, Ben Steverman and Sophie Alexander join Wes for a look at their analysis and reporting on donor advised funds–and why they've become so popular among the super wealthy. Jan Masaoka, CEO of the California Association of Nonprofits, also stops in to talk about what it means for charities that depend on those delayed dollars. Learn more about the episode: https://bloom.bg/3GxT3ll  Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK  Have questions or comments for Wes and the team? Reach us at bigtake@bloomberg.net.See omnystudio.com/listener for privacy information.

This season on the Pay Check, we're going to seven different countries to see how a global pandemic shifted the balance between the richest and the poorest people -- and affected everyone in between. In this first episode, Host Rebecca Greenfield and reporter Ben Steverman discuss how the effects of the pandemic on our health, wealth, safety and livelihood varied widely based on where in the world we were. Then Brazil-based reporter Shannon Sims takes us to the country's capital, Brasilia -- One of the places with the sharpest inequality in the world. Through a day in the life of a single mother who added rideshare driver to her list of side jobs during the pandemic, she explores the ways the pandemic snapped the already fragile safety nets women in this vulnerable group had strung together to stay afloat. See omnystudio.com/listener for privacy information.

Our guest this week is Jeremy Grantham. Jeremy is the long-term investment strategist at his namesake firm, Grantham, Mayo, Van Otterloo & Co., or GMO, which he cofounded in 1977. He serves on GMO's Asset Allocation Committee and board of directors. Prior to GMO, Jeremy was cofounder of Batterymarch Financial Management and before that was an economist at Royal Dutch Shell. He earned his undergraduate degree from the University of Sheffield and his MBA from Harvard University. Jeremy is a member of the Academy of Arts and Sciences, holds a CBE from the U.K., and is a recipient of the Carnegie Medal of Philanthropy.BackgroundBio“10 Things You Didn't Know About Jeremy Grantham,” by Allen Lee, moneyinc.com.BubblesThree-Sigma Limits Definition“Let the Wild Rumpus Begin,” by Jeremy Grantham, gmo.com, Jan. 20, 2022.“‘Super Bubble': Jeremy Grantham Says Historic Crash Has Begun,” by Clayton Jarvis, financialpost.com, Jan. 25, 2022.“Market ‘Superbubble' Could Lead to 50% Plunge, Says Grantham,” by Lawrence Carrel, forbes.com, Jan. 26, 2022.“GMO's Grantham: 7 Signs We're in a Stock Collapse (And What to Do Now),” by Janet Levaux, thinkadvisor.com, Jan. 24, 2022.“Is the Plunge in the Nasdaq and Bitcoin the end of the ‘Superbubble'”? by John Cassidy, newyorker.com, Jan. 24, 2022.“The U.S. Is in One of the Greatest Bubbles in Financial History,” by Merryn Somerset Webb, moneyweek.com, Sept. 3, 2021.“Grantham Calls Meme Stocks ‘Biggest U.S. Fantasy Trip,'” Kriti Gupta and John Authers, Bloomberg.com, June 22, 2021.“Profiting From a Bubble in Growth Stocks,” by Jeremy Grantham, Simon Harris, Ben Inker, and Catherine LeGraw, gmo.com, March 25, 2021.“Nikkei Back Above 30,000 After More Than Three Decades,” by Hideyuki Sano, reuters.com, Feb. 14, 2021.“Waiting for the Last Dance,” by Jeremy Grantham, gmo.com, Jan. 5, 2021.“COVID-19, Climate Change, and the Need for a New Marshall Plan,” by Jeremy Grantham, gmo.com, Oct. 30, 2020.ForecastGMO 7-Year Asset Class Forecast: 4Q 2021“Why Are Stock Market Prices So High?” by Jeremy Grantham, GMO Quarterly Letter, gmo.com, 2017.“Loose Monetary Policy Is Today's Biggest Market Risk,” by John Plender, ft.com, April 14, 2021.“An Investment Only a Mother Could Love: The Tactical Case,” by Jeremy Grantham and Lucas White, gmo.com, April 30, 2020. Innovation, Venture Capital, and Green Investing“Grantham Stumbles on $200m Profit After Spac Swoop on Battery Maker,” by Robin Wigglesworth and Eric Platt, ft.com, Dec. 7, 2020.Trillions: How a Band of Wall Street Renegades Invented the Index Fund and Changed Finance Forever, by Robin Wigglesworth.“You Can't Fool All the People All the Time,” by Jeremy Grantham, jpm.pm-research.com, Winter 1986.“Green Investing May Be a Bubble, Jeremy Grantham Says, But He's Doubling Down,” by Ben Steverman, fa-mag.com, Nov. 15, 2021.“Where Jeremy Grantham Expects to Be ‘Kicking Ass,'” by Christine Idzelis, institutionalinvestor.com, Feb. 13, 2020.

Rich Ferraro, Chief Communications Officer for GLAAD, talks about Pride Month brand backlash, and working toward authentic inclusion of the LGBTQ+ community in advertising. Ben Steverman, Personal Finance Editor for Bloomberg News, discusses Peter Thiel's Roth IRA. Erika Klauer, Technology Equity Portfolio Manager at Jennison Associates, discusses the threat of inflation on the tech sector. Alison Williams, Senior Banks Analyst for Bloomberg Intelligence, talks about the Federal Reserve stress test. Hosted by Paul Sweeney and Matt Miller. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Ben Steverman, Personal Finance Editor for Bloomberg News, discusses the Bloomberg Big Take story: "Cathie Wood's Bad Spring Is A Blip When Future Is So Magnificent." Mike Ciavarella, Chairman of the Board at Elys Game Technology Corp., discusses sports betting and the i-Gaming market. Bloomberg U.S. Luxury Reporter Kim Bhasin discusses Macy's plans to add a skyscraper to its flagship store. Dave King, Senior Portfolio Manager, Head of Income and Growth Strategies at Columbia Threadneedle Investments, discusses markets and his stock picks. Hosted by Paul Sweeney and Matt Miller.

The pandemic has taken a toll on relationships in many ways, but interestingly, both marriages and divorces are down. Many had to cancel or postpone weddings due to lockdowns, and on the other side, some are avoiding divorce for practical reasons and economic uncertainty. Ben Steverman, reporter at Bloomberg News, joins us for why these rates may be falling and whether they might tick back up after the pandemic is over. Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers

The rollout of the vaccines so far in the U.S. has been moving at a slower pace than expected. In California, where the state is experiencing huge coronavirus numbers and shortages of equipment and oxygen, only 35% of doses that have arrived have been administered. Colleen Shalby, reporter at the LA Times, joins us for why the rollout hasn't gone as expected and what Gov. Newsom is planning to speed things up. Next, more than 1 million Americans are still waiting for unemployment aid. Deep backlogs are contributing to some not getting financial aid, but also to blame are extensive fraud prevention checks, old computer systems, and applications getting flagged for extra scrutiny. Any claim set aside for a manual review can take months to resolve. Heather Long, economic correspondent at the Washington Post, joins us for more. Finally, the pandemic has taken a toll on relationships in many ways, but interestingly, both marriages and divorces are down. Many had to cancel or postpone weddings due to lockdowns, and on the other side, some are avoiding divorce for practical reasons and economic uncertainty. Ben Steverman, reporter at Bloomberg News, joins us for why these rates may be falling and whether they might tick back up after the pandemic is over. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Barry Ritholtz, Bloomberg Opinion columnist and Host of Masters of Business, lays out the most useless phrases in finance. Lisa Shalett, Chief Investment Officer: Wealth Management for Morgan Stanley, on why we're still in correction territory. Ben Steverman, Personal Finance Editor for Bloomberg, discusses his latest Businessweek story: "Harvard’s Chetty Finds Economic Carnage in Wealthiest ZIP Codes." Sarah Ponczek, Bloomberg cross-asset reporter, on insider selling and the reflation trade unwinding. Hosted by Paul Sweeney and Vonnie Quinn. 

Our guest on the podcast today is Dr. Jeffrey Brown, the Josef and Margot Lakonishok Professor and the Dean of the University of Illinois Gies College of Business. A key focus of Dean Brown's research is how to create sustainable retirement income, including the role of annuities, Social Security, 401(k)s, pensions and long-term care planning. He's a research affiliate at the National Bureau of Economic Research, a faculty affiliate of the Institute on Government and Policy Affairs, and a fellow at the TIAA Institute. He also serves as a trustee for TIAA. In addition, he served on the Social Security Advisory Board under President George W. Bush and was also a senior economist at the White House Council of Economic Advisers. He has published extensively on the topic of retirement security and public and private insurance markets, and he has received numerous awards for his research as well. He holds a Ph.D. in economics from MIT, and a master's in public policy from Harvard.BackgroundJeffrey Brown bioJeffrey Brown C.V. Jeffrey Brown publications and working papers  Defined Contribution (DC) PlansDefined contribution plan definition Defined benefit plan definition “A Brief History of the 401(k), Which Changed How Americans Retire,” by Kathleen Elkins, CNBC.com, Jan. 4, 2017.“The Disappearing Defined Benefit Pension and Its Potential Impact on the Retirement Incomes of Baby Boomers,” by Barbara A. Butrica, Howard M. Iams, Karen E. Smith, and Eric J. Toder, Social Security Bulletin, Vol. 69, No. 3, 2009.“What Killed Pensions,” by Mary Beth Franklin, Kiplinger, Oct. 6, 2011.“Public Pensions Are Still Marching to Their Death,” by Jeffrey Dorfman, Forbes.com, Sept. 11, 2014.“House Passes SECURE Act to Ease 401(k) Compliance, Promote Savings,” by Stephen Miller, SHRM.org, May 23, 2019.“How the SECURE Act Would Impact Your 401(k),” by Simon Moore, Forbes.com, June 25, 2019.“Annuities in 401(k)s Won’t Solve the Retirement Crisis. Here’s Why,” by Mary Romano, Barron’s, June 28, 2019.“What Does It Mean to Annuitize?” by Justin Pritchard, Thebalance.com, Jan. 21, 2019.“Crash Course Needed: Four Out of Five Americans Fail When Quizzed on How to Make Their Nest Eggs Last,” by The American College for Financial Planning, Dec. 3, 2014.“401(k) Nudges and Course Corrections,” by Kimberly Blanton, Squared Away blog, Oct. 24, 2017.“Thank Richard Thaler for Your Retirement Savings,” by Ben Steverman, Bloomberg, Oct. 10, 2017.“Plan Quality Varies Significantly by Industry,” by John Manganaro, PlanAdviser, March 20, 2017.“Corporate Profits and 401(k) Plan Performance Go Hand in Hand: T. Rowe Price,” by Michael S. Fischer, ThinkAdvisor, Sept. 17, 2018.“The Conundrum of State-Run Retirement Plans,” by Terry Dunne, InvestmentNews, May 8, 2017.“Reasons to Be Wary of State-Run Retirement Plans,” by Jeffrey Brown, Forbes.com, Feb. 10, 2014.Multiple Employer Plan (MEP) definition“How Hard Should We Push the Poor to Save for Retirement?” by Andrew G. Biggs, The Journal of Retirement, Spring 2019.Thrift Savings Plan  Annuities“Use Annuities to Protect Yourself from Yourself,” by Jeffrey Brown, Forbes.com, May 22, 2014.“Income Annuities Provide Retirees Longevity Protection,” by Wade Pfau, Investment News, Sept. 28, 2019.“Why Don’t People Insure Late-Life Consumption? A Framing Explanation of the Under-Annuitization Puzzle,” by Jeffrey R. Brown, Jeffrey R. Kling, Sendhil Mullainathan, and Marian V. Wrobel, National Bureau of Economic Research, January 2008.Variable annuity definitionEquity-indexed annuity definitionDeferred payment annuity definition“The Main Types of Annuities Made Easy,” by Clair Boyte-White, Investopedia, July 27, 2019.“Annuities and Inflation Risk,” by Robert Bloink and William H. Byrnes, ThinkAdvisor, Sept. 3, 2011.“Lifetime Income for Women: A Financial Economist’s Perspective,” by David F. Babbel, Wharton Financial Institutions Center Policy Brief, Aug. 12, 2008.“Jeff Brown Tackles Tough Annuity Questions,” by Michael Finke, ThinkAdvisor, Sept. 29, 2014.“Annuities and Individual Welfare,” by Thomas Davidoff, Jeffrey Brown, and Peter Diamond, The Center for Retirement Research at Boston College, May 2003.“Behavioral Impediments to Valuing Annuities: Complexity and Choice Bracketing,” by Jeffrey R. Brown, Arie Kapteyn, Erzo F.P. Luttmer, Olivia S. Mitchell, and Anya Samek. National Bureau of Economic Research, Oct. 11, 2019.Intertemporal choice definition  Long-Term Care“Does Medicare Cover Long-Term Care?” Medicare.com"Insuring Long-Term Care in the U.S.," by Jeffrey Brown and Amy Finkelstein, National Bureau of Economic Research, September 2011.“The Interaction of Public and Private Insurance: Medicaid and the Long-Term Care Insurance Market,” by Jeffrey R. Brown and Amy Finkelstein, National Bureau of Economic Research, October 2004.“Can Increasing The Long-Term Care Insurance Elimination Period Make Coverage Appealing Again?” by Michael Kitces, Nerd’s Eye View, Jan. 7, 2015.Long-Term Care Financing Project“Hybrid Long-Term Care Policies,” by Wade Pfau, Forbes.com, Jan. 21, 2016.“Is the LTC Cost Guarantee of Today's Hybrid Life/LTC or Annuity/LTC Insurance Policies Just a Mirage?” by Michael Kitces, Nerd’s Eye View, Oct. 16, 2013.“Life-LTC Hybrid Sales Level Off: LIMRA,” by Allison Bell, ThinkAdvisor, July 22, 2019.  Social SecuritySocial Security Trustees’ Summary Report, 2019.“How Would You Fix Social Security?” The Center for Retirement Research at Boston College.“How the Latest Report on Social Security’s Solvency Changes Your Retirement Plan,” by Bob Carlson, Forbes.com, May 24, 2019.

Shannon Pettypiece, Bloomberg News White House Correspondent, explains why President Trump decided to call off retaliatory strikes on Iran following the downing of a U.S. Navy drone. Ben Steverman, Bloomberg News Personal Finance Editor, and Matt Boyle, Bloomberg News U.S. Retail Reporter, discuss their Businessweek cover story about how Wal-Mart's deal with Ellen DeGeneres exemplifies the nation's acceptance of gay rights. Aston Martin CEO Andy Palmer explains why a supply chain slowdown could impact the luxury auto industry more than trade tariffs. Craig Schedler, Venture Partner at Northwestern Mutual, shares VC trends and why some companies continue to remain private. And we Drive to the Close with Bruce Bittles, Chief Investment Strategist at Baird. Hosts: Carol Massar and Jason Kelly.  Producer: Paul Brennan  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Shannon Pettypiece, Bloomberg News White House Correspondent, explains why President Trump decided to call off retaliatory strikes on Iran following the downing of a U.S. Navy drone. Ben Steverman, Bloomberg News Personal Finance Editor, and Matt Boyle, Bloomberg News U.S. Retail Reporter, discuss their Businessweek cover story about how Wal-Mart's deal with Ellen DeGeneres exemplifies the nation’s acceptance of gay rights. Aston Martin CEO Andy Palmer explains why a supply chain slowdown could impact the luxury auto industry more than trade tariffs. Craig Schedler, Venture Partner at Northwestern Mutual, shares VC trends and why some companies continue to remain private. And we Drive to the Close with Bruce Bittles, Chief Investment Strategist at Baird. Hosts: Carol Massar and Jason Kelly.  Producer: Paul Brennan 

Hosted by Carol Massar and Jason Kelly. Featuring highlights from the latest issue of Bloomberg Businessweek. -Ben Steverman profiles the wealth detective hunting the hidden money of the super rich -Bret Begun takes us behind the scenes in the battle for America's most famous hotel. -Tom Metcalf details how John D. Rockefeller was almost three times richer than Jeff Bezos -Pat Regnier explains why Chinese tycoons are shunning superyachts Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Hosted by Carol Massar and Jason Kelly. Featuring highlights from the latest issue of Bloomberg Businessweek. -Ben Steverman profiles the wealth detective hunting the hidden money of the super rich -Bret Begun takes us behind the scenes in the battle for America’s most famous hotel. -Tom Metcalf details how John D. Rockefeller was almost three times richer than Jeff Bezos -Pat Regnier explains why Chinese tycoons are shunning superyachts

For millions of Americans, tax season might be a pain, but it's one that typically comes with a refund that many families depended on. But this year that pain is coming with a big surprise. Rather than a refund, many are actually getting a tax bill instead. David Meyers speaks to Bloomberg tax reporter Ben Steverman on why this is happening despite the tax code overhaul that lowered rates for most Americans. FOLLOW UP Ben's latest report: Fear of Filing? Some Taxpayers Finding Tax Bills, Not Refunds You can follow Ben at: @BSteverman  ---- TicToc is a daily news podcast hosted by David Meyers (@davidfmeyers), produced at Bloomberg Worldwide HQ in New York City. You can follow up with us and watch our reporting @tictoc. If you like it, be sure to rate us on iTunes, and tell your friends!

Jim Bianco, President and Founder of Bianco Research and a Bloomberg Opinion columnist, on markets and the outlook for a recession. Peter Elliot, Editor for Bloomberg Reserve and food and wine expert, discusses how fine dining may be becoming out of reach --except for the extremely wealthy.  Ken Leon, Global Director of Industry and Equity Research at CFRA Research, on Morgan Stanley and banks outlook. Ben Steverman, personal finance editor for Bloomberg, on the legacy of Jack Bogle, the founder of Vanguard who advocated low fees. Hosted by Abramowicz and Paul Sweeney. 

It has been almost one year since President Trump signed his Republican tax bill into law. It was sweeping legislation that re-wrote the tax code and it came with a lot of promises. David Meyers speaks with Bloomberg wealth and taxes reporter Ben Steverman on the promises kept and the promises broken. FOLLOW UP Ben's latest report: You can follow Ben at: @BSteverman --- TicToc is a daily news podcast hosted by David Meyers (@davidfmeyers), produced at Bloomberg Worldwide HQ in New York City. You can follow up with us and watch our reporting @tictoc. If you like it, be sure to rate us on iTunes, and tell your friends

With many of the world's stock markets in turmoil, and interest rates on the rise in the U.S., it can be hard to spot investment opportunities. A popular Bloomberg article asks six experts where they would invest $10,000 right now. Some of those areas include Asian countries, tobacco stocks, companies profiting from the mobile payment trend as well as just a plain ol' broad market allocation.  On this week's Trillions we speak to the author of the story, Suzanne Woolley, and personal finance writer Ben Steverman about these picks as well as the ETFs that can be used to play them. We also discuss what they are hearing from retail investors outside the financial bubble about the recent selloff and investing in general.  When you're done listening, you can read the article at https://www.bloomberg.com/features/2016-how-to-invest-10k/See omnystudio.com/listener for privacy information.

With many of the world's stock markets in turmoil, and interest rates on the rise in the U.S., it can be hard to spot investment opportunities. A popular Bloomberg article asks six experts where they would invest $10,000 right now. Some of those areas include Asian countries, tobacco stocks, companies profiting from the mobile payment trend as well as just a plain ol' broad market allocation.    On this week's Trillions we speak to the author of the story, Suzanne Woolley, and personal finance writer Ben Steverman about these picks as well as the ETFs that can be used to play them. We also discuss what they are hearing from retail investors outside the financial bubble about the recent selloff and investing in general.    When you’re done listening, you can read the article at https://www.bloomberg.com/features/2016-how-to-invest-10k/

Carol is joined by Bloomberg's New York Bureau Chief Jason Kelly and they speak to Joe Deaux, Bloomberg News Metals & Mining Reporter, on the U.S. imposing tariffs on the EU, Canada and Mexico. Eric Marshall, Portfolio Manager at Hodges Capital Management, discusses investing in small caps stocks. Ben Steverman, Bloomberg News Personal Finance Editor, explains how David Tepper's purchase of the Carolina Panthers provides him with a unique tax perk. Bloomberg Stocks Editor Dave Wilson shares his “Chart of the Day.” Caleb Melby, Bloomberg News Financial Reporter, talks about why President Trump's net worthhastaken a hit. And we Drive to the Close with Ryan Detrick, Senior Market Strategist at LPL Financial. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Carol is joined by Bloomberg’s New York Bureau Chief Jason Kelly and they speak to Joe Deaux, Bloomberg News Metals & Mining Reporter, on the U.S. imposing tariffs on the EU, Canada and Mexico. Eric Marshall, Portfolio Manager at Hodges Capital Management, discusses investing in small caps stocks. Ben Steverman, Bloomberg News Personal Finance Editor, explains how David Tepper’s purchase of the Carolina Panthers provides him with a unique tax perk. Bloomberg Stocks Editor Dave Wilson shares his “Chart of the Day.” Caleb Melby, Bloomberg News Financial Reporter, talks about why President Trump's net worthhastaken a hit. And we Drive to the Close with Ryan Detrick, Senior Market Strategist at LPL Financial.

Ben Steverman, Bloomberg News Personal Finance Editor, explains six ways to make the tax bill work you, if you act fast. Tom Plumb, President of Wisconsin Capital Management, discusses finding opportunities in the digitalization of transactions. Bloomberg Stocks Editor Dave Wilson has his “Chart of the Day.” Rob Urban, Bloomberg News Senior Financial Editor, talks about Bitcoin's CME debut. We Drive to the Close with Doug Ciocca, CEO at Kavar Capital. Brian Manning, President at Centric Digital, describes how digital is transforming the retail industry. And Carol and Cory hit today's Movers and Shakers on Wall Street, and Bloomberg Stocks Editor Dave Wilson has his “Stock of the Day.”  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Ben Steverman, Bloomberg News Personal Finance Editor, explains six ways to make the tax bill work you, if you act fast. Tom Plumb, President of Wisconsin Capital Management, discusses finding opportunities in the digitalization of transactions. Bloomberg Stocks Editor Dave Wilson has his “Chart of the Day.” Rob Urban, Bloomberg News Senior Financial Editor, talks about Bitcoin's CME debut. We Drive to the Close with Doug Ciocca, CEO at Kavar Capital. Brian Manning, President at Centric Digital, describes how digital is transforming the retail industry. And Carol and Cory hit today’s Movers and Shakers on Wall Street, and Bloomberg Stocks Editor Dave Wilson has his “Stock of the Day.” 

“Repeal & Replace” is on the move! The American Health Care Act is the Republican plan to partially repeal the Affordable Care Act and it is quickly moving through Congress. In this episode, discover exactly what the bill would do if it were to become law. Also, Jen gives status updates on bills listeners are concerned about. Please support Congressional Dish: Click here to contribute with PayPal or Bitcoin Click here to support Congressional Dish for each episode via Patreon Mail Contributions to: 5753 Hwy 85 North #4576 Crestview, FL 32536 Thank you for supporting truly independent media! Recommended Congressional Dish Episodes CD048: The Affordable Care Act (Obamacare) Bill Outline Read The Bill: The "Repeal & Replace" of The Affordable Care Act Part 1 Summary: House Energy & Commerce Summary Part 2 Summary: House Ways & Means Committee Summary The "Repeal & Replace" of The Affordable Care Act: First Draft Title I - Energy & Commerce Subtitle A - Patient Access to Public Health Programs Sec. 101: Defunds the Prevention and Public Heath Fund at the end of 2018 Sec. 103: Prohibits any Federal funding for any non-profit that performs abortions for a year Subtitle B - Medicaid Program Enhancement Sec. 111: Reduces Medicaid funding Sec. 112: Repeals the Medicaid expansion Sec. 112 (c): Repeals the requirement that Medicaid cover "essential health benefits" as of January 1, 2020. Sec. 114: Prevents Medicaid for lottery winners Sec. 115: Gives $10 billion extra to the "non-expansion States" Sec. 116: Forces States to verify Medicaid eligibility every six months, gives them more enforcement money, and allows $20,000 fines for ineligible people who get Medicaid benefits. Subtitle C - Per Capita Allotment for Medical Assistance Sec. 121: Caps Medicaid funding on a per capita basis. States that spend too much one year will have their Medicaid cut more the following year. Subtitle D - Patient Relief and Health Insurance Market Stability Sec. 131: Repeals the lower out-of-pocket limits for low-income people effective in 2020 Sec 132: Creates a $15 billion a year fund (which is reduced to $10 billion a year starting in 2020) for propping up the health insurance market by paying for "high risk" sick people Sec. 133: Starting in 2019, people who purchase insurance after a coverage gap of 63 days will be charged a 30% penalty for a year. The insurance companies get to keep all the extra money. Sec. 134: The requirements that bronze, silver, gold, platinum level plans exist and must cover certain percentages of expenses and "essential health benefits" are repealed effective January 1, 2020. Sec. 135: Allows insurance companies to charge older people five times more than younger people (they're currently allowed to charge three times more) Part 2: Tax Provisions Prepared by the Ways and Means Committee (page 67) Page 67: Remuneration from Certain Insurers Starting in 2018, insurance companies can get tax deductions on employee pay between $500,000 and $1 million. Page 68: Repeal of Tanning Tax Starting in 2018, the 10% tax on indoor tanning is repealed. Page 69: Repeal of Tax on Prescription Medications Starting in 2018, a fee paid by pharmaceutical manufacturers & distributors will be repealed This will save the industry $2.8 billion per year Page 69: Repeal of Health Insurance Tax Starting in 2018, a fee on large health insurance companies, which is tied to and increases with premium growth rates, would be repealed. This will save the industry approximately $14 billion per year Page 70: Repeal of Net Investment Income Tax Starting in 2018, a 3.8% tax on net income from stock market investments over $200,000 will be repealed Page 71 (Section 1): Recapture Excess Advance Payments of Premium Tax Credits Starting in 2018, the limits on the amount of advanced-paid tax credits that can be taken back from low income people will be repealed. Page 71 (Section 2): Additional Modifications to Premium Tax Credit Allows tax credits to be used on "catastrophic-only" health insurance plans that are not listed on the exchanges and prohibits tax credits for any plan that covers abortions. Page 80 (Section 3): Premium Tax Credit Repeals tax credits for premiums starting in 2020. Page 81 (Section 4): Small Business Tax Credit Repeals the tax credit for employers with fewer than 25 employees who want to provide health benefits to their employees starting in 2020 and prohibits tax credits for any health plan that covers abortion. Page 84 (Section 5): Individual Mandate Reduces the tax penalties for failing to purchase insurance to $0 and back dates it to be effective in 2016. Page 84 (Section 6): Employer Mandate Reduces the tax penalties for employers who fail to provide health benefits to their employees to $0 and back dates it to be effective in 2016. Page 85 (Section 7): Repeal of the Tax on Employee Health Insurance Premiums and Health Plan Benefits Delays the start of a tax on insurance companies which charges a 40% excise tax on "Cadillac plans", which charge premiums more than $10,200/year ($850/month) for individuals until 2025. The 40% is only on the extra premiums charges above the cap. Currently aren't scheduled to take effect until 2020. Page 85 (Section 8): Repeal of Tax on Over-The-Counter Medications Starting in 2018, over-the-counter drugs can be purchased with Health Savings Accounts (HSA). Page 86 (Section 10): Repeal of Limitations on Contributions to Flexible Savings Accounts Starting in 2018, the $2,500 limit on the amount that can be taken out of an employee's paycheck for employer health plans that use "flexible savings accounts" is repealed starting in 2018. Page 87 (Section 11): Repeal the Medical Device Tax Starting in 2018, repeals a 2.3% tax, paid by manufacturers or importer, on sales of medical devices that are not generally purchased by the general public at retail stores. Part 89 (Section 14): Repeal of Medicare Tax Increase Summary says that this section should change the tax for Medicare Hospital Insurance, but the text to be inserted is identical to current law Repeal Bill Current Law Page 90 (Section 15): Refundable Tax Credit for Health Insurance Creates a new tax credit structure tied to age instead of income for people making under $75,000 per year (the credits gradually reduce the more you make over $75,000) Under age 30: $2,000/yr Ages 30-40: $2,500/yr Ages 40-49: $3,000/yr Ages 50-59: $3,500/yr Over age 60: $4,000/yr The credits are capped at $14,000 per family for the five oldest individuals Page 120 (Section 16): Maximum Contribution Limit to Health Savings Account Increased to Amount of Deductible and Out-of-Pocket Limitation Starting in 2018, increases the amount than can be put in Health Savings Accounts Individual contribution limit raised from $2,250 to $5,000 per year. Family contribution limit raised from $4,500 to $10,000. Bills Discussed in this Episode H.J. Res 58: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Education relating to teacher preparation issues Kills a rule that assesses the quality of teacher preparation programs H.J. Res 69: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the final rule of the Department of the Interior relating to “Non-Subsistence Take of Wildlife, and Public Participation and Closure Procedures, on National Wildlife Refuges in Alaska” Kills an Interior Dept. rule that limits hunting of animals not intended to be food in Alaska. H.R. 720: Lawsuit Abuse Reduction Act of 2017 Forces courts to sanction lawyers for filing lawsuits deemed improper. H.R. 725: Innocent Party Protection Act Changes the procedures for state lawsuits being heard in Federal court. H.R. 985: Fairness in Class Action Litigation Act of 2017 Class action lawsuits could only go forward if each person suffered the same type and scope of injury. H.R. 38: Concealed Carry Reciprocity Act of 2017 Allows people to carry concealed handguns in other states that issue concealed carry permits, in school zones, and on federally owned public land. H.R. 83: Mobilizing Against Sanctuary Cities Act Cuts off federal funds to cities that refuse to give the feds information about undocumented immigrants. H.R. 147: Prenatal Nondiscrimination Act (PRENDA) of 2017 Applies fines and up to five years in prison to any doctor that tries to perform an abortion or helps a woman get an abortion if they know it’s because of the sex or race of the child. H.R. 354: Defund Planned Parenthood Act of 2017 Prohibits funding for Planned Parenthood for a year unless they promise to not perform abortions. Gives money to community health centers instead. H.R. 610: To distribute Federal funds for elementary and secondary education in the form of vouchers for eligible students and to repeal a certain rule relating to nutrition standards in schools Repeals the Elementary & Secondary Education Act of 1965, which was enacted as a part of Pres. Lyndon Johnson’s ‘War on Poverty’, which is a commitment to equal access to quality education by giving money to low-income districts. Creates a voucher program that will give parents tax money to send their kids to private schools or home school Repeals nutrition standards for foods served in the school lunch and breakfast programs. H.R. 756: Postal Service Reform Act of 2017 Changes the postal service health benefits program and pension funding Changes post office operations: Stops door delivery to new addresses and changes how rates are determined in a way that doesn’t create an unfair competitive advantage for the post office H.R. 785: National Right-to-Work Act Prevents labor unions from forcing workers to pay dues (bankrupts unions by forcing them to provide services to non-paying workers) H.R. 861: To terminate the Environmental Protection Agency. Ends the EPA in 2019 H.R. 881: AMP Act Amends copyright law to provide royalties to music producers, mixers, or sound engineers H.R. 899: To terminate the Department of Education S. 376/H.R. 1273: 21st Century Endangered Species Transparency Act To amend the Endangered Species Act of 1973 to require publication of the basis for determinations that species are endangered species or threatened species. Additional Reading Article: Republicans Give Rich Investors a Tax Break in Obamacare Revamp by Ben Steverman, Bloomberg, March 8, 2017. Article: ACA Repeal Would Mean Massive Cuts To Public Health, Leaving Cities And States At Risk by Chrissie Juliano, Health Affairs Blog, March 7, 2017. Article: Health insurance companies would get $1 billion or more windfall under GOP Obamacare replacement plan by Dan Mangan, CNBC, March 7, 2017. Article:The Republican Health-Care Bill Is the Worst of So Many Worlds by David Dayen, The Nation, March 7, 2017. Article: Health insurance industry rakes in billions while blaming Obamacare for losses by Amy Martyn, Consumer Affairs, November 1, 2016. References GovTrack: Bills and Resolutions Health Savings Accounts: HSA Benefits News Release: UnitedHealth Group 2016 Financial Results OpenSecrets: Rep. Greg Walden: Campaign Finance - Summary OpenSecrets: Rep. Greg Walden: Campaign Finance - Industries OpenSecrets: Rep. Jason Chaffetz: Campaign Finance Summary OpenSecrets: Rep. Kevin Brady: Campaign Finance - Summary OpenSecrets: Rep. Kevin Brady: Campaign Finance - Industries OpenSecrets: Rep. Paul Ryan: Campaign Finance - Summary OpenSecrets: Rep. Paul Ryan: Campaign Finance - Industries OpenSecrets: Interest Groups Overview OpenSecrets: Insurance Lobbying Contributions OpenSecrets: Tobacco: Money to Congress U.S. Department of Health & Human Services: 2015 Poverty Guidelines Sound Clip Sources Press Conference: Speaker Paul Ryan's Presentation on the American Health Care Act, YouTube, March 9, 2017. Hearing: Ways and Means Committee Markup of Affordable Care Act Replacement Bill, March 8, 2017. Watch on CSPAN: Part 1 - Part 2 - Part 3 - Part 4 Hearing: Energy and Commerce Committee Markup of Affordable Care Act Replacement Bill, March 8, 2017. Watch on CSPAN CSPAN Timestamps & Transcripts 13:24 Rep. Kathy Castor: This bill was released less than 48 hours ago without a bipartisan Congressional Budget Office score, so we don’t know how much it’s going to cost. Experts say it’s going to add to the deficit. We don’t know how many people are going to lose their insurance and how high the uninsured rate will go up in America because of this bill, because they didn’t take the time to wait, to see what that CBO score said. 3:05:25 Rep. Steve Scalise: We’ve asked CBO, by the way, for a score. Anybody who thinks we’re going to just wait and let some unelected bureaucrats in Washington stop us from following through on our promise to the American people that we’re going to repeal this failed law and finally rescue them from the double-digit increases in premiums and from the $10,000 and more in deductibles and all the other things that have destroyed good healthcare for them, we’re going to keep moving forward and fulfill that promise because the American people expect us to do it, they want us to do it, and CBO’s eventually going to come up with a score before it goes to budget committee, before it goes to the House floor. But in the meantime, if they can’t get the score out there, we’re still going to move forward and follow through on that promise. 3:15:10 Rep. Joe Barton: We’re all God’s children; we all want a CBO score. It’s not our fault that the CBO’s sitting on their bottom and not helping us. 8:35:34 Rep. Gus Bilirakis:We should be making it easier for small businesses to grow and succeed, not harder. 9:10:35 Rep. Frank Pallone: The problem that I see, though, is that—so, you and the others continue to talk about how bad the ACA is, and my point earlier when I mentioned you by name was because I’d like to see how you feel that your bill is going to improve any of these things. Now you mentioned deductibles. The way I read this bill—I’m not going to ask counsel because I read it, and I think it’s clear—the restrictions that we put on—or that have made it more difficult to increase deductibles with a private-insurance market, a lot of those are relaxed now. So I would venture to argue that if you have someone who’s complaining about deductibles, those deductibles are going to go up even more. Rep. John Shimkus: Yeah, but if I reclaim my time because, as you know, we’ve got two bills moving through the write at the same process that the benefit of what’s going on now is you talk to our friends in Ways and Means is the strong development of health savings accounts, which fills that gap, right? You buy insurance for a higher cost. If you live healthy lifestyles, you’ll be able to roll that over, the catastrophic number gets better, your payments get less if you believe in markets and competition. 10:16:45 Rep. Mike Doyle: I’m not sure what the gentleman is talking about when he talks about mandates. What mandate in the Obamacare bill does he take issue with? Certainly not with preexisting conditions or caps on benefits or letting your child stay on the policy to 26. So I’m curious, what is it we’re mandating— Rep. John Shimkus: Will the gentlemen yield? Doyle: Yeah, sure. Shimkus: What about men having to purchase prenatal care? Doyle: That—what— Shimkus: I’m just— Doyle: Every—that’s very— Shimkus: Is that not correct? Doyle: I—reclaiming my time. Shimkus: And should they? Doyle: Reclaiming my time. Chairman Greg Walden: Whoa, whoa, whoa— Doyle: There’s no such thing— Walden: —whoa, whoa, whoa. Doyle: —as à la carte— Walden: Regular order. Doyle: There’s no such thing as à la carte insurance, John. You know, you don’t get the— Shimkus: That's the point! Doyle: —list and say, give me that. Shimkus: That’s the point! We want the consumer to be able to go to the insurance market and be able to negotiate— Doyle: You tell— Shimkus:—on a plan— Doyle: Reclaiming my time. Walden: Whoa, whoa. Doyle: You tell me what insurance company will do that. There isn’t a single insurance— Walden: Gentleman’s time— Doyle: —in the world that does that. Walden: The gentleman’s time—the gentle— Doyle: You're talking about something that doesn't exist. Cover Art Design by Only Child Imaginations