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.
“Nearly one billion travelers pass through U.S. airports each year,” writes Alicia L. Johnson, civic science postdoctoral associate. In a new commentary, she outlines how the CDC’s genomic surveillance program, which monitors airport wastewater for traces of infectious disease, must balance public health and privacy concerns.
The work of Katalin Karikó, 2023 Nobel Prize in Medicine recipient, laid a foundation for the development of COVID-19 mRNA vaccines that saved close to 20 million lives worldwide. But her discoveries almost did not happen, writes Alicia L. Johnson, a civic science postdoctoral associate at the Baker Institute Center for Health and Biosciences. Karikó’s story highlights the vital importance of supporting women in STEM.
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?
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