Commerce

Proposed wealth taxes come with a wealth of worrisome potential trade-offs

BY JAMES PETHOKOUKIS President Biden’s campaign tax plan was full of tax increases, some $3 trillion worth. But a wealth tax wasn’t one of them. And, according to The New York Times, a wealth tax is “not among the top revenue-raisers that Democratic

Commerce

Postal Service’s performance declined last year

BY KEVIN R. KOSAR Last week, the House Oversight and Government Reform Committee hauled Postmaster General Louis DeJoy before it and spent the better part of five and a half hours denouncing him. In part, majority Democrats were politicking — they rehashed

Commerce

FCC’s emergency broadband benefit attracts praise, criticism

BY DANIEL LYONS Last week, the Federal Communications Commission (FCC) adopted a report and order establishing the Emergency Broadband Benefit Program (EBB), a $3.2 billion program to help low-income families stay connected to the internet during the COVID-19 pandemic. The

Commerce

Romney floats ‘child allowance’ in reform of child tax credit

BY KYLE POMERLEAU Last month, Senator Mitt Romney introduced a proposal to enact a “child allowance,” a monthly payment to households with children. His proposal would be financed in part by repealing other child benefits, including the “Child and Dependent Care Tax

Commerce

Higgins presses for restaurant relief in next COVID package

Congressman Brian Higgins (NY-26) is pushing for federal grants for restaurants to be included in the first COVID emergency relief package approved by Congress under the new Biden Administration. In a letter to President-elect Biden, Higgins writes, “Restaurants are more than

Commerce

December’s jobs report and where we go from here

BY BRENT ORELL Last week, the Department of Labor released the final employment report of the Trump administration, and the news there, much like all the news these days, was not good. For months, I’ve written that the key to getting the economy

Commerce

How federal housing policies hurt borrowers of color

BY TOBIAS PETER The COVID-19 pandemic has revealed a distressing fact in the housing world: Federal home loan policies that promote risky lending in the name of providing “responsible, affordable mortgage credit access” for minority households are setting up minority

Commerce

Huawei ban disrupts supply chain for telecom components

BY BRONWYN HOWELL Since the US and other governments have effectively banned the use of Chinese (read Huawei, but also ZTE) equipment from future mobile communications networks, support for open radio access network (O-RAN) architecture has risen dramatically. The Federal Communications Commission

Commerce

The safety net in the aftermath of the pandemic

BY ANGELA RACHIDI The American Enterprise Institute commissioned NORC at the University of Chicago to field a survey of 3,518 working-age adults in late July 2020 to learn more about the employment situation of US households and the reach of the social

Commerce

The $540,000 camera in your pocket

BY BRETT SWANSON Every couple years, we update our original 2014 blog post that asked the question, “What would an iPhone have cost in 1991?” The purpose is to measure — at least in a rough way — the progress

Commerce

Bloomberg, Warren jockey to be named Treasury Secretary

The presumptive President-elect Joe Biden has already fielded phone calls from both former Mayor Mike Bloomberg and Senator Elizabeth Warren. Each politician made themselves available to serve as Treasury Secretary in the administration, though Warren is seen as the more

Commerce

Unemployment rate keeps falling faster than projected

BY MATT WEIDINGER According to today’s jobs report from the US Department of Labor, the US unemployment rate in October fell to 6.9 percent, down from 7.9 percent in September. As the chart below shows, that progress continues to be