Jim Zarroli

Jim Zarroli is a business reporter for NPR News, based at NPR's New York bureau.

He covers economics and business news including fiscal policy, the Federal Reserve, the job market and taxes

Over the years, he's reported on recessions and booms, crashes and rallies, and a long string of tax dodgers, insider traders and Ponzi schemers. He's been heavily involved in the coverage of the European debt crisis and the bank bailouts in the United States.

Prior to moving into his current role, Zarroli served as a New York-based general assignment reporter for NPR News. While in this position he covered the United Nations during the first Gulf War. Zarroli added to NPR's coverage of the aftermath of Hurricane Katrina, the London transit bombings and the September 11, 2001 attacks on the World Trade Center.

Before joining the NPR in 1996, Zarroli worked for the Pittsburgh Press and wrote for various print publications.

Zarroli graduated from Pennsylvania State University.

Republicans say the tax-cutting overhaul being debated in Congress will jump-start the U.S. economy, leading to a lot more investment and hiring by companies.

But some economists say the tax plans — which would sharply cut corporate and business taxes and eliminate numerous deductions for individuals — come at precisely the wrong time. Lower taxes could also be undercut by Federal Reserve policymakers, who are gradually raising interest rates, they say.

Republicans lawmakers are considering a federal budget "trigger" that would raise taxes if proposed tax cuts don't deliver the economic growth they have promised.

But the proposal is generating a lot of pushback from critics, especially conservatives.

The so-called trigger mechanism would be a legislative provision to rescind corporate tax cuts by as much as $350 billion if revenue targets are not met, Bloomberg News reports.

Marilyn Mollenedo spent years working at a series of administrative jobs. So when her husband landed a well-paying position in San Francisco, she figured it would finally enable them to put aside more money for retirement.

Instead, her husband's salary, coupled with a generous pension from an earlier government position, thrust them into a costly new tax category, where they had to pay the alternative minimum tax.

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If only because of its venue, the office of New York district attorney has long been among the highest-profile prosecutorial jobs in the country. The men who have served in it, legal legends such as Thomas Dewey, Frank Hogan and Robert Morgenthau, have often held the job for years, gaining enormous stature and political capital along the way.

Until recently, it seemed the current DA, 63-year-old Cyrus Vance Jr., might enjoy the same long tenure.

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President Trump has surprised a lot of people with some comments on Puerto Rico's debt crisis. The U.S. territory owes some $73 billion to bondholders, money that it's been unable to pay. In an interview on Fox News last night, the president seemed to suggest that the bondholders aren't going to get their money back.

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When President Trump announced a ban on travel for citizens from several predominantly Muslim countries in January, a coalition of officials from various blue states quickly rallied to fight it.

"We just started talking to each other Friday afternoon," recalls New York Attorney General Eric Schneiderman. "By Sunday morning, we had 17 states signed on to say, 'This is unconstitutional. We're going into court to stop it.' And we went into courts all over the country and eventually got it struck down."

Now that Hurricane Irma has left Florida, gasoline supplies are slowly coming back into the state. But thousands of gas stations remain closed anyway.

That's because with electricity out throughout the peninsula, even stations that have access to gas have no way to get it into people's vehicles.

"Power is the issue. Most of these gas stations don't have backup generation that can allow the pumps to work," says John Kilduff, founding partner of Again Capital, an energy investment firm.

As Florida drivers hit the road to escape Hurricane Irma, the demand for gasoline has outpaced supply, leaving filling stations throughout the state short of fuel.

"It's horrible, man," said Aaron Izquierdo, who waited in a long line of cars at a Shell station in Doral on Friday. "Just yesterday I was in line for two hours to wait for gas, and by the time we got to the pump there was no gas."

A friend sent a photo to Jaime Botello's phone Wednesday that confirmed his fears: The house where his family has lived for 30 years is completely flooded.

"All the way to the top," he says.

And like most people in the Houston area, Botello, a welder who was at a shelter with his wife on Wednesday, doesn't have flood insurance. He says he can't afford it.

Bill Gilmer remembers spending the night listening to the winds of Hurricane Ike tear through his suburban Houston neighborhood in September 2008. He also recalls waking up the next morning to hear something completely different.

"The first sound I heard was chainsaws, and I looked out and all my neighbors were out there clearing the streets, clearing their yards, cleaning up their yards," says Gilmer, who directs the Institute for Regional Forecasting at the University of Houston's C.T. Bauer College of Business.

Under Armour founder and CEO Kevin Plank set off a social media firestorm last February when he voiced some overly positive words about the new administration of President Trump.

"To have such a pro-business president is something that's a real asset for this country. I think people should really grab that opportunity," said Plank, whose company makes sports apparel.

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President Trump on Monday authorized his top trade official to look into whether China is guilty of intellectual property theft, a move that could eventually lead to trade sanctions.

Trump called his action "a very big move" against practices that cost our nation "millions of jobs and billions and billions of dollars each and every year."

Defending President Trump on television is giving longtime conservative lawyer Jay Sekulow new prominence these days, but it's also reviving questions about a pair of charities he is involved with.

Sekulow, 61, who appeared on all five Sunday morning news shows over the weekend to address questions about Trump's ties to Russia, is a fixture in the Christian conservative movement, serving as chief counsel of the American Center for Law and Justice.

Last June's meeting between Donald Trump Jr. and a Russian lawyer with Kremlin connections was arranged by a colorful British-born music promoter with ties to the son of a Azerbaijan-born billionaire.

In the early 1950s, sportswriter Steve Rushin's hometown of Bloomington, Minn., had a population of just 9,902. Within a decade, it had exploded to more than 50,000, becoming the kind of booming American suburb where families were large and life centered on school, church and sports.

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We're getting another small clue about President Trump's overall financial picture after the president released some disclosure forms late last week. What did they say? Here's NPR's Jim Zarroli.

For a young Donald Trump in the 1970s, the Grand Hyatt hotel on East 42nd Street was his first major development project, a chance to make a splash in the big-time world of New York City real estate.

Yet the glitzy glass-fronted hotel never would have been possible without an almost unprecedented 40-year tax abatement from the city, which was then recovering from a painful fiscal crisis.

The Trump Organization is shutting down its New York-based modeling agency.

A statement released by the company said it was "choosing to exit the modeling industry."

"While we enjoyed many years of success, we are focussed on our core business in the real estate and golf industries and the rapid expansion of our hospitality division," the statement said.

Started in 1999, Trump Model Management was part of Trump's eclectic array of businesses, though it was never as visible as some of the others and didn't play a major role in the fashion business.

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Angela Chen makes money hawking her ties to important people, running a consulting firm that helps companies connect with Asia's power players.

So it inevitably attracted notice when Chen spent nearly $16 million recently to buy a four-bedroom Park Avenue penthouse owned by President Trump himself.

The February deal, which was first reported by Mother Jones, underscores one of the problems posed by Trump's ongoing business interests.

After purportedly stopping in at Mar-a-Lago, President Trump's Palm Beach resort, not long ago, a visitor went straight to Google's online review site to complain about the restaurant ambience.

"Very loud and distracting dinner atmosphere," the visitor noted. "I just wanted a quiet peaceful meal, but White House staff and diplomats at the next table kept shouting out classified information."

These days, plenty of consulting firms make money peddling advice on cybersecurity. Only one is run by a man designated special adviser to the president of the United States.

Earlier this month, President-elect Donald Trump named former New York City Mayor Rudolph Giuliani, who heads a cybersecurity practice at the Miami-based law firm Greenberg-Traurig, as his chief adviser on cybersecurity issues.

Trump Tower, the building that President-elect Donald Trump calls home, bills itself as "one of the world's elite luxury residences, catering to public figures, athletes, celebrities and other affluent sophisticates."

These days, some other people have taken up residence there as well: Secret Service agents.

Trump has said that his family won't move into the White House right away and will remain, for a few months at least, in the world-famous steel-and-glass office and residential building where they occupy three floors.

He was a flamboyant, alpha-male billionaire who said things no career politician ever would — someone who promised to use his business savvy to reform the system and bring back jobs. Voters believed that his great wealth insulated him from corruption, because he couldn't be bought.

But his administration was marked by criminal investigations and crony capitalism.

When comedian Bill Maher offered $5 million to Donald Trump if he could prove he wasn't the son of an orangutan, Trump did something he's done many times before: He sued.

Federal law says anyone who works for the executive branch of the government has to avoid conflicts of interest. The Treasury secretary cannot own stock in a big bank, for instance. And Richard Painter, who served as ethics adviser under President George W. Bush, says different administrations have typically been scrupulous about following the law.

"Whenever anyone was even considering a position that would be appointed by the president, I would discuss with that person the need to sell off assets that create conflicts of interest," Painter says.

For 130 years, the hulking Bethlehem Steel Mill dominated the economy of eastern Pennsylvania's Northampton County, providing jobs for generations of residents. Today, it's been replaced by a Sands Casino.

"It was thousands of jobs. The entire south side of Bethlehem was built for the residents, the employees of Bethlehem Steel. Now it's nothing," says county resident Keith Hornik, who works at his family's construction company.

This month federal regulators fined Wells Fargo $185 million for opening checking and credit card accounts on behalf of customers who had no idea that was happening. The bank has promised to try to make restitution.

But that's a lot harder than it sounds. A big question is how to compensate people whose credit scores were hurt by what the bank did.

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