Podcast Summary: Marketplace Morning Report

Episode: “The EPA’s Major Climate Policy Rollback”
Date: February 10, 2026
Host: David Brancaccio
Correspondents/Guests: Nancy Marshall Genzer, Jared Walczak (Tax Foundation), BBC’s Gabrielle Sungolate

Overview

This episode centers on a major rollback in US climate policy by the Environmental Protection Agency (EPA) under President Trump, notably the planned revocation of the key scientific finding that underpins greenhouse gas regulation. The show also explores how state taxes are diverging from recent federal changes and touches briefly on geopolitical trade tensions and financial secrecy in relationships.

Key Discussion Points & Insights

1. EPA’s Climate Policy Rollback

(Starts at 00:46)

• News: The EPA is set to revoke the “endangerment finding,” a cornerstone of climate regulation, which since the Obama era established greenhouse gases as a public health threat.
  • “This scientific determination the Trump administration is expected to revoke is called the endangerment finding. It dates back to the Obama administration and it says that greenhouse gases are a threat to public health.” – Nancy Marshall Genzer (01:13)
• Impact: The rollback will eliminate reporting, measuring, and compliance requirements for vehicle emissions but, for now, leaves power plant regulations untouched.
  • “The final rule would wipe away reporting, measuring and compliance requirements for greenhouse gas emissions of vehicles. The paper says it wouldn't affect the regulations and emissions from power plants for now.” – Nancy Marshall Genzer (01:38)
• Legal and Policy Fallout: Environmental groups are expected to challenge the decision in court. Some states might respond by crafting their own climate rules.
• Quote from Environmental Defense Fund:
  • “The repeal of the finding will allow more climate pollution leading to deadly and costly extreme weather.” (01:59)

2. Geopolitical & Trade Tensions

(Starts at 02:15)

• US-Canada Bridge Dispute: President Trump threatens to block opening a new, Canadian-funded bridge between Ontario and Michigan, insisting the US be “fully compensated.”
  • “Mr. Trump said he wouldn't allow it to open until, in his words, the US had been fully compensated for everything Washington had given to Canada. It isn't clear what that means.” – Gabrielle Sungolate, BBC (02:32)
• Broader Criticisms: President Trump continues to criticize Canadian trade practices and cautions Canadian Prime Minister Mark Carney against deepening ties with China, especially after Carney’s recent trip to Beijing.

3. State Tax Code Divergence Post-Federal Tax Reform

(Starts at 04:29)

• Main Issue: Following sweeping federal tax changes in the previous summer, states are grappling with whether to automatically align (“conform”) with federal changes or not.
• Expert Guest: Jared Walczak, Tax Foundation
• Key Insights:
  • Most states base their tax code on the federal system but with different levels of conformity and often rely on an outdated version of the federal code.
    • “Most states conform in some way to the federal tax code, but they differ in a lot of details. Like on things like the standard deduction, there are a lot of points of divergence.” – Jared Walczak (05:08)
  • Many new federal deductions for tips, overtime, auto loan interest, or the “senior bonus” are not automatically adopted by states, resulting in uneven tax savings for residents.
    • “Most states are not automatically in line to bring in the new deductions...They're just not in a section that most states bring in.” – Jared Walczak (05:41)
  • States hesitate to adopt federal changes due to potential revenue losses, especially considering targeted relief measures like the tips deduction may not broadly help low-income residents.
    • “If we were going to provide that relief, couldn't we do it better on our own? And many [states] aren't going to decide to affirmatively adopt what the federal government adopted.” – Jared Walczak (06:43)
• Which States Conform Closely?:
  • States like Colorado, Idaho, Iowa, and Montana start their calculations from federal taxable income, closely aligning with federal changes.
  • “Those states and a few others begin their own income tax calculations with federal taxable income. Most states begin with adjusted gross income. ... These deductions we're talking about, they sit in between AGI and federal taxable income. So if a state begins its own income tax return with federal taxable income, these are in unless they change their law.” – Jared Walczak (07:03)
• States with No Income Tax:
  • Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, and Wyoming.
    • “Eight states have no income tax. If you live there, you know—Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas and Wyoming.” – David Brancaccio (07:37)
  • Washington taxes capital gains for higher earners.
  • When considering all taxes, the lowest-burden states are Alaska, New Hampshire, Wyoming, and Tennessee; Florida sometimes ranks among the lowest depending on analysis.

4. Other Notable Segments

Financial Secrecy in Relationships

(08:25)

• Teaser for “This Is Uncomfortable” podcast: Maria previews an episode exploring financial secrets in relationships, featuring:
  • A divorce lawyer describing a client who spent $250,000/year at strip clubs.
    • “They had a forensic account, went through the numbers, and they calculated that he spent $250,000 in a year on strip clubs.” – Nancy Marshall Genzer (08:37)
  • Discussion on trust and power dynamics related to finances:
    • “I find that, like, a lot of dudes typically are like, I know how to spend the money the right way. I should be the one that has all the control over it. And you, with your girl brain, don't understand.” – David Brancaccio (08:52)

Notable Quotes & Timestamps

• On the Endangerment Finding:

  • “It’s the foundation of the Environmental Protection Agency’s climate rules, which limit emissions of greenhouse gases from vehicles and power plants.” – Nancy Marshall Genzer (01:19)

• On Why State Tax Codes Don’t Always Match Federal Changes:

  • “If we were going to provide that relief, couldn’t we do it better on our own?” – Jared Walczak (06:43)

• On the Financial Policy Rollback:

  • “The repeal of the finding will allow more climate pollution leading to deadly and costly extreme weather.” – Environmental Defense Fund, paraphrased by Nancy Marshall Genzer (01:59)

Timestamps for Major Segments

• EPA Rollback Announcement & Analysis: 00:46 – 02:15
• US-Canada Bridge Dispute: 02:15 – 03:14
• State/Federal Tax Changes Explained: 04:29 – 07:37
• States with No/Limited Income Taxes: 07:37 – 08:25
• Financial Secrecy Segment Preview: 08:25 – 09:04

Tone and Language

The episode maintains an informative and analytical tone, with occasional wry humor (especially in the tax discussion). Interviewees and the BBC’s contributor provide clarity on both technical details and broader policy impacts.

For those who missed this episode:
You’ll come away with a clear understanding of the EPA’s major climate policy rollback, how evolving tax laws may—or may not—affect your wallet depending on your state, and get a global context on US-Canada relations, plus a teaser for further exploration of personal finance and trust.