Nine days before the January 20, 2017 presidential inauguration, WKYT reporter Garrett Wymer asked Aaron Yelowitz how prospective changes in regulation, trade, federal taxes, Medicaid, and private health insurance could affect Kentuckians. This was a broad economic-policy interview; the segment did not identify a particular research paper.
Participants
- Garrett Wymer: WKYT reporter
- Aaron Yelowitz: Associate Professor of Economics, University of Kentucky
- Unidentified WKYT anchor: Studio introduction and closing
Source note
This interview aired January 11, 2017, nine days before the January 20 presidential inauguration.
Transcript
00:00:00 — WKYT anchor: Kelly, thank you. With nine days until the inauguration of President-elect Donald Trump, we wanted to know what kind of impact the Trump administration could have on the wallets of Kentuckians. Today, we talked to University of Kentucky economics professor Aaron Yelowitz. He explains how the president-elect's decisions could affect everything from what we buy at Walmart to our health-care coverage. WKYT's Garrett Wymer explains.
00:00:24 — Garrett Wymer: University of Kentucky associate professor of economics Aaron Yelowitz has researched and taught classes on public policy and money matters for two decades. Yelowitz offers his nonpartisan expert opinion, first on jobs.
00:00:37 — Aaron Yelowitz: One would imagine that, with a stroke of a pen, President-elect Trump could change the regulatory environment, which is hard to quantify. What that would do, perhaps, is improve the business climate. When the business climate improves, both small and large businesses tend to hire more because there's more opportunity out there.
00:00:56 — Garrett Wymer: When it comes to shopping, Yelowitz says that if the president-elect decides to restrict trade with China, it could affect what you buy.
00:01:05 — Aaron Yelowitz: To the extent that we get into a trade war with China, those sorts of goods will be more expensive to purchase. If prices go up even just a little bit, that's like cutting your income.
00:01:15 — Garrett Wymer: When it comes to your taxes, the professor says the typical Kentuckian is in the 15 percent tax bracket.
00:01:21 — Aaron Yelowitz: That would mean a modest lowering of taxes. Someone who makes, say, $40,000 of income would probably save about $1,000 per year in federal taxes.
00:01:32 — Garrett Wymer: Finally, health care.
00:01:34 — Aaron Yelowitz: What I would suspect is that some of those who are on Medicaid are probably going to lose their coverage. In addition, those purchasing private insurance probably will see somewhat higher premiums, but also perhaps more choice with some of the reforms that are coming along.
00:01:48 — Garrett Wymer: Even with all the proposed changes in Washington, Professor Yelowitz says that, overall, things might modestly improve. On the University of Kentucky campus, Garrett Wymer, WKYT.
00:01:59 — WKYT anchor: Professor Yelowitz says local government can make a major impact on your income because what it decides can bring in jobs or drive them away.