Newsletter: A monthly brief of new insights on important economic, financial and policy issues.
Institutions & Governance
Media reporting on the economic consequences of the Tax Cuts and Jobs Act now in conference is short on facts and long on polemics. This is no superficial “giveaway” to the rich. Rather, the act will benefit almost 34 million businesses, the overwhelming majority of them small, and transform the United States into a globally competitive platform for investment and expansion.
Congressional Republicans find themselves in a health care pickle. While the media storm over the Republican efforts to repeal and replace the Affordable Care Act (ACA) would have you believe that there is widespread support for ACA, attitudes are much more mixed.
Early in his tenure, Treasury Secretary Steven Mnuchin boldly promised that tax reform would not cut taxes for the rich—a promise he has since “walked back.” Recently, Speaker Nancy Pelosi has laced the upcoming debt limit debate with assertions that House Democrats will not support a debt limit increase that permits tax cuts for the rich.
Trump violates his own negotiating principles by pulling out of the Paris Agreement.
Trump's budget challenges political orthodoxy and takes spending back toward long-term averages.
State and local revenue growth has slowed relative to the economy and cannot finance new public responsibilities without tax increases.
Business income is more important to lower-income Americans than to the rich.
Health insurance fosters an illusion that health care is free and encourages the expansion of a system that Americans cannot afford.
President Trump’s early weeks in office have Americans asking who they are.
Despite conventional wisdom, winners and losers in the post-2008 housing price recovery were not a bellwether for 2016 election outcomes.
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