NEWS
Biden’s Corporate Tax Hike is Bad for Growth — Try a Carbon Tax Instead
President Biden’s tax-and-spend infrastructure plan will reduce the competitiveness of U.S. corporations, burden working-class Americans, and discourage the type of private investment in America that fuels economic growth.
MGA Report Comes in at Number One at The Center for Biosimilars
The Center for Biosimilars has announced that MGA’s recent report, “How Patent Thickets Constrain the US Biosimilars Market and Domestic Manufacturing,” was the top-read article on its website for the week of June 14, 2021.
MGA Report Featured by The Center for Biosimilars
On Thursday, The Center for Biosimilars, a sister site of The American Journal of Managed Care, published an article discussing the differences between the patent systems in the United States and Europe when it comes to biosimilars. The article featured the latest report released by MGA, and authored by Alex Brill and Christy Robinson, titled “How Patent Thickets Constrain the US Biosimilars Market and Domestic Manufacturing”:
New White Paper Identifies Patent Thickets as Barrier to US Biosimilars Market and Domestic Manufacturing
“How Patent Thickets Constrain the US Biosimilars Market and Domestic Manufacturing,” authored by Alex Brill and Christy Robinson, explains how reference biologic manufacturers create thickets of overlapping, weaker follow-on patents to keep competitors from entering the market. The paper highlights how originators have strong incentives to protect their profit streams and have found patent thickets to be an easy way to significantly extend the duration of monopolies in the US, preventing access to more affordable medicines for patients.
Tackle the Tax Gap
The Senate Finance Committee held an important subcommittee hearing this week, “Closing the Tax Gap: Lost Revenue from Noncompliance and the Role of Offshore Tax Evasion.” The “tax gap,” which is the difference between the amount of tax rightfully owed by US taxpayers and the amount of tax actually paid, is not small.
Corporate Tax Hike Vs. Carbon Tax: Economic Trade-Offs
President Biden has announced two ambitious, entwined economic policy agendas: raising the corporate tax rate and other taxes on large businesses to pay for a significant increase in spending on a broadly defined set of infrastructure objectives. While the case for at least some increase in infrastructure spending is sound, the case for unwinding the corporate tax reforms enacted in 2017 is not.
Alex Brill Quoted in Forbes Article on Climate Change Tax Reform
In his Forbes article, Personal Finance Contributor Ted Knutson discussed Tuesday’s Senate Committee on Finance hearing that focused on climate change tax reform. During the hearing, leaders on both sides of the aisle asserted that new clean energy laws should be technology neutral, so that no one industry “wins.”
Alex Brill Testifies Before Senate Committee on Finance on Tax Treatment of Energy
On Tuesday, American Enterprise Institute resident fellow and MGA founder and CEO Alex Brill testified before the U.S. Senate Committee on Finance. The topic of the hearing was the tax treatment of energy. Brill spoke of the criticality of a “broad, efficient, technology-neutral tax policy geared toward encouraging less energy consumption and more renewable energy production” to working toward a reduction in U.S. reliance on fossil fuels—and ensuring a reduction in CO2 emissions.
Unintended Consequences: Democrat’s Child Tax Credit Will Cost Jobs
President Biden’s first signature legislative accomplishment, the American Rescue Plan Act (ARPA), is now law. Nearly $1.2 trillion in fiscal aid will pour into the economy before October, and another $700 billion will be doled out over the next four years. As one of us has written previously, $1.9 trillion is a significant underestimate of the plan’s total cost if temporary expansions of several tax credits are permanently extended. The largest of these temporary policies is the expanded child tax credit (CTC), touted by Democrats as a boon to low- and middle-income households. In addition to being costlier than the sticker price, a permanent CTC expansion, a goal expressed by many Democratic lawmakers, would have the unintended consequence of reducing employment.
Alex Brill Talks Trade Disruption Due to Suez Canal Blockage on i24 News
Alex Brill joined i24 News’ Natasha Kirtchuk on “Global Eye” to discuss the cargo ship blocking the Suez Canal, and the trade impacts felt around the world.
Alex Brill Featured in Foundation for Economic Education Article
On fee.org, the website for the Foundation for Economic Education, author Brad Polumbo reported on Alex Brill’s estimates of the true cost of the American Rescue Plan.
U.S. Spending and Tax Policy After the COVID Recessions: Political Economy Podcast
Alex Brill recently joined James Pethokoukis on AEI’s Political Economy Podcast to discuss the potential economic impacts of spending initiatives in the wake of the COVID-19 pandemic.
Alex Brill Testifies Before U.S. Senate on Lowering Prescription Drug Prices
On Tuesday, American Enterprise Institute resident fellow and MGA founder and CEO Alex Brill testified before the Senate Health, Education, Labor & Pensions (HELP) Subcommittee on Primary Health and Retirement Security. The topic of the hearing was the skyrocketing prices of prescription drugs.
There are Costs for Climate Change Whether Leaders Take Action or Not
Much of the public debate over climate change policy focuses on the cost of reducing emissions, deploying green energy, or building adaptations. A point often lost is that whatever we do, we pay for climate change, even if we do nothing. For officials to arrive at effective solutions, they must know both the cost of the policy options and the cost of inaction.
How Will the American Rescue Plan Impact Your 2021 Tax Liability?
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.
- ‘Facing the Future’: Alex Brill discusses tax code and budget challenges
- 2026 Portman Center Symposium: Building an Achievable Fiscal Policy
- Senator Booker’s Costly Standard Deduction Proposal Would Reduce Charitable Giving
- FDA Continues to Expedite Biosimilar Development
- Diminishing Returns from the Government’s Drug Negotiation Program
- Would Senate Passage of an ACA Tax Credit Extension Matter?
- MGA Brief Examines State and Federal PBM Mandates
- FDA Moves to Facilitate Biosimilar Development
- How Pharmaceutical Tariffs Will Affect US Health Care Costs
- MGA Releases New Report Quantifying the Economic Impact of Healthcare Distributors
