Will McBride
@EconoWill
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Chief Economist and Stephen J. Entin Fellow in Economics @TaxFoundation
DC
Joined October 2011
RT @scottlincicome: "Florida farmers now plowing over perfectly good tomatoes as Trump’s tariff policies cause prices to plummet" 🤔 https:/….
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RT @kyledcheney: BREAKING: Appeals court rejects Trump’s authority to impose sweeping tariffs under IEEPA.
courtlistener.com
OPINION filed for the court Per Curiam. Opinion for the court joined by Circuit Judges Lourie, Dyk, Reyna, Hughes, Stoll, Cunningham, and Stark. Additional views filed by Circuit Judge Cunningham,...
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The IRS estimates precede OBBBA, but it's clear the OBBBA did not simplify the tax code. Our forthcoming analysis will go into more detail on that.
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Our latest estimate is based on IRS estimates of time and out of pocket costs for compliance. See more from my colleagues @ahardtospell and Sam Cluggish:
taxfoundation.org
Americans will spend almost 7.1 billion hours complying with IRS tax filing and reporting requirements in 2025. This is equal to 3.4 million full-time workers—almost the population of Los Angeles and...
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Notwithstanding OBBBA, the federal tax code remains a complicated behemoth. Our latest estimate puts compliance cost at about $536 billion a year, nearly 1.8% of GDP. That is about how much corporate tax revenue the federal government will collect this year.
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Many good questions for Fed's reset today, including how best to avoid a repeat of pandemic era mistakes such as buying of trillions of Treasury debt with new money and keeping interest rates too low for too long.
The discussion about Trump and Fed Chair Jerome Powell has been all about lower interest rates, but Congress and the media should ask potential Fed chiefs to consider much deeper questions, writes @JohnHCochrane.
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RT @WSJopinion: The very real risk of a second reconciliation bill is that fiscal conservatives tee up a vehicle that becomes a grab-bag of….
wsj.com
A second act could be stuffed with policies that bloat spending and hinder growth.
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RT @ernietedeschi: The big upside PPI inflation surprise was driven by final demand trade services, a measure of retail & wholesale margins….
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Core PCE inflation has bounced around from 2.6 to 3.0% for more than a year and the latest forecast from Cleveland Fed puts it at the high end of that range for Q3 of this year. Don't see the Fed being able to lower rates on the basis that inflation is back to the target 2%.
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Check out our new estimates of how the OBBBA tax changes are dispersed across the country. While we find substantial tax cuts in every state, the biggest tax cuts on average are in Wyoming, especially Teton County, which includes Jackson Hole (site of next week's Fed conference).
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RT @DavidBeckworth: Based on conversations, some further clarification needed here: CB raising target interest rate can actually raise infl….
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RT @DominicJPino: And this strategy makes sense because there's a non-zero chance the Supreme Court will strike down the tariffs by the fal….
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The minimum gas tax in the EU is about $1.60 per gallon, almost 9 times the US federal gas tax of 18.4 cents. The Netherlands charges $3.53 per gallon, more than 19 times the federal rate!.
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