NEWS
Border Adjustment Tax: $260 Billion More Than You Thought
If the House Republican plan for a border adjustment tax were adopted, many large U.S. multinationals and others net exporters would receive more tax subsidy on their exports than tax owed on their other business activities. Without refundable credits, a 20% border adjustment tax would actually yield $260 billion in revenue beyond the expected $1 trillion.
MGA’s Alex Brill Contributes to Nonpartisan Report Offering Menu of Options to Policymakers on Social Insurance Programs
In an ambitious new report released today, the National Academy of Social Insurance provides detailed, evidence-based analyses on a range of policy options for modernizing the nation’s social insurance system.
MGA’s Alex Brill Serves as a Panelist at Opportunity America’s “This Way Up: Economic Mobility for Poor and Middle-Class Americans”
At an event on conservative policies for helping poor and middle-class Americans, Alex Brill discussed how best to promote upward mobility: “I think that in the long run, if we provide some relief or assistance to those workers and those families without the kind of structural reforms that Speaker Ryan was talking about — closing the skills gap and things like that — then what are we going to do ten years from now when those people aren’t moving up through the system?”
Trump Tax Plan Could Negatively Impact Giving
President Trump’s proposal to cap itemized deductions would cause a drop in charitable giving. For those giving above the cap, the net cost would jump from $0.60 per $1 of giving to an unsubsidized $1 per $1 of giving. Because a 1% increase in the price yields a 1% drop in giving, $17.6 billion in annual giving could evaporate.
MGA’s Alex Brill Serves as a Panelist at the National Coalition on Health Care’s Capitol Hill Forum
From the Coalition to Protect Patient Choice:
“The last panelist was Alex Brill… [who] spoke about FDA reform and specifically about patent issues relating to biologic drugs and their generic counterparts known as biosimilars. He stated that biosimilar entry has not been as robust as was envisioned by the Affordable Care Act, due to archaic regulatory schemes, anticompetitive conduct, and cost-benefit analysis.”
MGA’s Alex Brill Serves as a Panelist at AEI’s “Setting Priorities for Governing”
From AEI:
“Alex Brill expressed optimism regarding the incoming Congress’ ability to enact pro-growth tax reform and endorsed the Ryan-Brady tax plan. However, he acknowledged that achieving bipartisan cooperation on this front will be challenging.”
Trump Transition Team Lineup Hints at Future Treasury Pick
“Whoever Trump settles on for his Cabinet pick will be tasked with enormous responsibilities and likely face fierce opposition during the Senate confirmation process by progressive senators like Elizabeth Warren, D-Mass., and Bernie Sanders, I-Vt., particularly if the nominee comes from a Wall Street background, according to Alex Brill of the American Enterprise Institute.”
Tax Reform: Ryan-Brady Plan Is a Better Way
The Ryan-Brady tax plan lowersstatutory tax rates, maintains a progressive income tax, and dramatically reduces the marginal tax rate on new investment. The plan will simplify compliance with the tax code by increasing the number of filers choosing not to itemize deductions. The plan’s individual income tax reforms approach revenue neutrality at the end of the budget window.
Who Will Pay for Hillary Clinton’s Tax-Code Social Engineering?
Hillary Clinton wants to double the child tax credit for children under 5 and increase the refundability of the credit for more low-income households. Her proposal will further exacerbate the tax disparity between childless households and families with young children. And, by adding substantially to the federal deficit, the policy will shift the cost of raising today’s children onto future generations.
6 Things to Know about Hillary Clinton’s New Child Tax Credit Expansion
Hillary Clinton proposes doubling the child tax credit for children under 5 (from $1,000 to $2,000) and expanding the refundability of the credit to lower-income families. Her proposal 1) is expensive, 2) increases the deficit, 3) is unfair to childless taxpayers, 4) benefits a narrow group, 5) has an arbitrary cutoff, and 6) is just the beginning.
Broaden the Base — A Tax Reform Visualizer
To broaden the tax base, lawmakers will need to do more than close obscure tax loopholes. They will need to limit itemized deductions. These tax breaks costabout $176 billion in 2016 or enough to finance a nearly 13% tax cut for every individual income tax bracket. And they add significant complexity to the tax code.
MGA’s Alex Brill Serves as a Panelist at Bipartisan Policy Center’s “Global Competitiveness in the Age of Political Populism”
At an event on promoting economic growth amid a populist backlash, Alex Brill discussed the impact of the corporate tax on workers: “Politicians have used the tax policy debate in campaigns for forever, and they generally use tax policy ideas in a very direct way: ‘My tax plan will affect your tax bill this much — directly.’
Bernie Sanders’ State Wants to Unlearn the Lesson of Competition
On July 1, the state of Vermont is set to impose a $1,000 per day per product fine on any food manufacturer who fails to disclose on the product label if any ingredients contain genetically modified organisms (GMOs). The effect of the new law will be to reduce choices for consumers, limit supply, and increase food prices. And these consequences will be felt far beyond the tiny state’s borders.
MGA’s Alex Brill Serves as a Panelist at AEI’s “E-Cigarettes and Public Health: What’s Next After the FDA Rule?”
In an event following the release of FDA’s May 2016 “deeming rule,” which applied tobacco regulations to e-cigarettes, Alex Brill examined Congressional aspects of public policy related to the deeming rule and to e-cigarettes more broadly. Specifically, he looked at what Congress intends to do about e-cigarettes, focusing on three questions: First, what are congressional attitudes about the deeming rule and e-cigarette regulation generally? Second, is it a partisan issue? And third, looking beyond the deeming rule, how will Congress affect e-cigarette use more broadly in the future? “I think that the next battle that Congress will look to tackle with respect to e-cig products is the tax question,” said Brill.
Obama’s Wall Is Bad Too
Donald Trump’s proposal to build a wall between the United States and Mexico has been widely criticized. But the Obama administration is building its own wall around the United States. The Obama wall is built of rules that inhibit U.S. firms from pursuing inversions to escape the punishingly high US corporate tax rate. Both walls will harm Americans.
- Health Care Workforce Shortages: An Updated Look
- New MGA Analysis of the Adalimumab Biosimilars Market in the United States
- MGA’s Alex Brill on CNBC’s Squawk Box Discussing the Recent Tax Policy Proposal
- Bipartisan Senate Bill Aims to Curb Drug Patent Abuse
- Humira Rivals Set to Try to Drive Down Cost of Blockbuster Drug
- New Report from MGA Examines the One-Year Cost Savings Lost Due to Patent Thickets
- New MGA Analysis of Biosimilar Coverage in Commercial Medical Benefit
- Narrow House GOP Victory Should Point Toward Policy Development Agenda
- Don’t Let Pandemic Fatigue Inhibit Pandemic Preparedness
- American Renewal: A Simpler, More Responsible, and Pro-Growth Tax System
