NEWS

Republicans Forge Ahead With Tax Reform

Republicans Forge Ahead With Tax Reform

“The House bill and the Senate bill are not identical but are very much on the same page, according to Alex Brill, a resident fellow at AEI, a conservative think tank. Most changes will be technical in nature and carried out by the conference committee. According to Brill, reconciliation might take longer than lawmakers have predicted, but he is confident that the differences will ultimately get resolved.”

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The Case for Fiscal Reform: Lessons from the Anglosphere

The Case for Fiscal Reform: Lessons from the Anglosphere

Federal fiscal reform in the United States is increasingly necessary but over the last two decades has remained elusive. Part of the reason for the inaction reflects different political preferences and priorities. Part of it reflects differing views about the possible economic and social effects of controlling public spending and fiscal deficits. The result is that the US federal debt continues to grow unabated, which poses an increasing threat to future generations of citizens.

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Corporate Rate Cut: A Gradual Phase-in Would Be Best

Corporate Rate Cut: A Gradual Phase-in Would Be Best

Both the House’s tax bill and the Senate Finance Committee’s bill slash the corporate income tax rate from 35 to 20%, a much needed reform that will pull capital into the United States and grow the economy. Thankfully, both bills cut the corporate rate on a permanent basis.

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Opportunities for Tax Reform: Remarks From House Committee on Ways and Means Chairman Kevin Brady (R-TX)

Opportunities for Tax Reform: Remarks From House Committee on Ways and Means Chairman Kevin Brady (R-TX)

Following his remarks, Chairman Brady joined AEI’s Alex Brill for a discussion on the potential opportunities and impacts of tax reform. Mr. Brill asked Chairman Brady about the features of the Tax Cuts and Jobs Act and the ways in which the act would affect different individuals. Mr. Brill discussed the significance of the corporate tax rate cut and the change in standard deduction that tax reform would bring. Chairman Brady concluded by emphasizing the importance of moving to a simpler tax system.

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How Much Economic Growth Can Tax Reform Deliver? Part III

How Much Economic Growth Can Tax Reform Deliver? Part III

I believe that the current US tax code imposes drag on US economic growth and alternatives to the current system could result in an increase in the capital stock, a boost in worker productivity, and thus an increase in wages. This positive economic result would occur slowly over time as new investment is deployed and workers adopt to new opportunities.

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Relax, the Housing Market will be Fine After Tax Reform

Relax, the Housing Market will be Fine After Tax Reform

The prospect of major tax reform that broadens the tax base and lowers tax rates has the residential housing industry in panic mode. The National Association of Realtors recently called the House tax bill “an outright assault on homeownership in America.” Separately, a study commissioned by the Realtors warns that comprehensive tax reform would result in an average drop in home values of 10%. But the reality is that the housing market will be fine if the House Republican tax plan is enacted.

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A Letter to the FDA Regarding iQOS, a Less Harmful Alternative to Cigarettes

A Letter to the FDA Regarding iQOS, a Less Harmful Alternative to Cigarettes

We are scholars at the American Enterprise Institute, a nonpartisan, nonprofit policy research entity. Dr. Satel is a practicing psychiatrist who has studied and researched a broad range of matters related to mental health policy and addiction, including tobacco harm reduction. Mr. Brill is an expert in public finance and health economics, with a concentration in the economic and public health implications of smoking and its alternatives. The views expressed here are ours alone and may or may not reflect the views of our colleagues.

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MGA’s Alex Brill Serves as a Panelist for Cato Institute’s Capitol Hill Briefing on “Home Stretch for Major Tax Reform?”

MGA’s Alex Brill Serves as a Panelist for Cato Institute’s Capitol Hill Briefing on “Home Stretch for Major Tax Reform?”

While speaking as a panelist, Alex Brill says, “we can have a tax reform that is net positive for the overall economy. With a better system, one different from the system we have today, the size of the US economy will be larger than it otherwise would be. It will take time from the day of enactment to the day that that effect is fully realized. And during that period of time, the economy will grow faster and then it will reach this new higher level that it otherwise wouldn’t reach and we will all be better off as a result of that.”

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Most Prevalent Deduction is for Taxes Paid, IRS Data Show

Most Prevalent Deduction is for Taxes Paid, IRS Data Show

Alex Brill of the American Enterprise Institute told Tax Analysts that his estimates show that repealing the state and local tax deduction would raise about $1.4 trillion over a decade and could pay for a large reduction in statutory tax rates. “Being the single largest itemized deduction, its repeal can foster significant simplification, as without it more taxpayers will claim the standard deduction,” Brill said.”

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MGA’s Alex Brill on CNBC’s Squawk Box

MGA’s Alex Brill on CNBC’s Squawk Box

Discussing the SALT deduction, Alex Brill says:

“That actually is part of the definition of tax reform as it is eliminating and changing the winners and losers arrangement and creating a level playing field…. So, my sense is in those congressional districts, the Republican districts in the blue states where this is going to hurt a little bit more, there are other things in this plan that are going to be good for their constituents overall. We are going to see lower tax rates. We are going to see a larger standard deduction. So we are going to see a lot of people in the middle class better off.”

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Congress Wants to Eliminate the State and Local Tax Deduction. What’s That?

Congress Wants to Eliminate the State and Local Tax Deduction. What’s That?

“Writing in The Hill, Alex Brill of the conservative American Enterprise Institute estimated that repealing the deduction could help subsidize major parts of the tax plan, including the proposed tax cut for top filers and the expansion of the standard deduction. As Brill wrote, that could mean a cap on how much of a filer’s income could be eligible for the deduction.”

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