The new administration is making a big push to support green energy and lower carbon emissions. But are they doing it the right way?
Debating the issue are Christy Goldfuss, senior vice president for energy and environment at the Center for American Progress, and Alex Brill, senior fellow at the American Enterprise Institute.
Last week, President Biden signed into law the $1.9 trillion American Rescue Plan (ARP). The plan provides economic relief to households through the tax code, making several credits fully refundable and advanceable and providing stimulus checks that already started arriving in bank accounts this past weekend. We have created a web application to help users explore how the American Rescue Plan will impact their 2021 federal tax liability.
The Senate is poised to consider President Biden’s American Rescue Plan, an elaborate bill recently passed by the House of Representatives through the budget reconciliation process at an estimated cost of $1.9 trillion over the coming decade.
The Child Tax Credit (CTC) is all the rage these days. Democrats and Republicans both are advancing proposals to increase the maximum value of the CTC and make it available to more families. We have developed a web application to accompany our recent report. Design Your Own Child Tax Credit Reform allows any user to compare popular current proposals or choose the parameters of their own preferred custom CTC reform.
Lawmakers in both chambers of Congress have staked out positions on expanding the Employee Retention Tax Credit (ERTC), a refundable tax credit that provides temporary wage support to help employers retain or rehire workers.
“‘That could help accelerate the rebound if we can just kind of mothball the economy and then turn back on the same economy with the same manager-employee relationship,” said Alex Brill, a resident fellow at the right-leaning American Enterprise Institute.”