The House recently passed the Tax Relief for American Families and Workers Act (TRAFWA) of 2024, which aims to provide tax relief to businesses and families with children in a fiscally responsible manner. But, as fellow John W. Diamond’s new commentary explains, if the bill succeeds, it would instead deliver more reckless tax giveaways while further delaying a real effort to deal with the consequences of poor fiscal policy.
Legislative action on the ballooning federal deficit is long overdue. Fellow John W. Diamond proposes a new nonpartisan fiscal commission to bypass congressional inaction on reform.
Convening war rooms, planning speedy bailouts and raising "house-on-fire" alarm bells: Those are a few of the ways the biggest banks and financial regulators are preparing for a potential default on U.S. debt.
Texas lawmakers must address the misuse of anticipation notes — short-term debt securities used to raise money for public projects, writes John Diamond, the Edward A. and Hermena Hancock Kelly Fellow in Public Finance. Since they don’t require voter approval, politicians could use them to fund unwanted projects, he explains.
The most recent price tag for Biden’s student loan forgiveness plan is an estimated half-trillion dollars or more. Will higher inflation be another cost?
To better reflect the iterative collaboration necessary for scientific progress, the Nobel Prize must expand its recognition to the many contributors of winning discoveries as well as diversify the selection committee, thereby also expanding recognition of the work of underrepresented minorities, argues this Baker Institute Blog post.
Kirstin R.W. Matthews, Kenneth M. Evans, Flora Naylor, Daniel MoralíOctober 13, 2021
This year's Nobel Prize in Chemistry recognizes the development of carbon-based catalysts. S&T Policy research assistant Flora Naylor writes that their discovery emphasizes the value of federal funding in supporting fundamental scientific research.
Methane emissions are both "extraordinarily bad" and "easy to fix," so why not address them now? A federal tax of $1,500 per metric ton emitted could curb and counter the impact of U.S. methane emissions, argues this commentary piece.
As the Budget Control Act nears expiry, it is important to reflect on its effectiveness — does the BCA provide a framework for curtailing unsustainable deficits and moving to a sustainable fiscal policy? Read the authors' analysis at the Baker Institute Blog.
John W. Diamond, Autumn EngebretsonFebruary 4, 2021