Alan Rappeport, an economic policy reporter for The New York Times, delves into why the Biden administration may block Nippon Steel's $15 billion acquisition of U.S. Steel. He highlights the intertwining of politics and labor as pivotal in this decision, particularly in a crucial election year. Rappeport discusses the history of U.S. Steel, its decline, and the political backlash against foreign acquisitions, shedding light on the complexities of American manufacturing and labor dynamics. The episode reveals how such deals reflect broader economic trends and political strategies.

Alan Rappeport, an economic policy correspondent for The New York Times, dives into the IRS's ambitious $80 billion overhaul aimed at modernizing tax collection. He discusses the agency's historical mismanagement issues and the fears of repeating past mistakes. Rappeport highlights how the IRS has been wielded as a political tool, especially during past administrations, and addresses ongoing scrutiny regarding its audits of low-income taxpayers. The podcast also examines challenges in tackling sophisticated tax strategies of the wealthy amid a politically charged environment.