The Center for a Free Economy believes that getting fiscal policy right is the heart of getting government economic policies right. That means a pro-growth tax code which raises enough money for modest and well-designed government spending programs. Essential to fiscal policy is health care policy, which today dominates both tax and spending outlooks.
Recent News about Fiscal Policy:
The U.S. Senate continues to work through policy responses to the Covid-19 pandemic. This will continue as long as the pandemic does, not just in the frantic weeks ahead. To that end, conservatives have weighed in with Senate Majority Leader Mitch McConnell to let him know that emergency funding for workplace health insurance for laid off workers (COBRA) is acceptable policy. View the letter here.
Several conservative leaders and free market groups have joined a coalition letter supporting language in the Republican COVID-19 relief package that would establish a safe harbor for companies to provide certain assistance to independent contractors without jeopardizing their independent worker status. See the letter below or download here.
The Center for a Free Economy commissioned a poll by McLaughlin Associates of 1000 likely voters over the age of 65. We found that 86 percent of senior citizens agree—with 68 percent strongly agreeing—that drug price discounts negotiated by insurance companies should be passed on to consumers to lower out-of-pocket expenses at the pharmacy counter. This is otherwise known as "rebate reform." The data is unambiguous, and elected officials have a clear responsibility to act. Ensuring the affordability of prescription drugs is vitally important to voters across the United States. In these times of uncertainty, policymakers should be enacting free market measures to drive down the costs of medicines for the American people at the pharmacy counter rather than resorting to government price controls that result in less health care and state rationing of health care. Government should never get between you and your doctor. Links to: Press release Slide [...]
Several conservative leaders and free market groups have joined a coalition letter opposing House Democrats plan to sneak all or parts of the Green New Deal into a COVID-19 relief package. See the letter below or download here.
By Ryan Ellis In recent weeks, House Democrats have begun to signal how they would govern if given unified control of the federal government. While they will take what they can get from COVID-19 relief bills and conventional extender-type legislation, they have also begun to introduce “shoot for the moon” measures that reveal their unified government ambitions. One area in which this has been crystal clear has been the "Green New Deal," a series of proposals to bring a radical environmental agenda to all areas of our lives. The most straightforward way to conduct a major reform campaign in modern government is through the tax code, and that’s true for both parties. Want to promote school choice? Create a tax credit voucher. Ditto for helping people pay for health insurance premiums, or save for retirement, or afford child care, or invest in new business equipment. The reason is simple: the [...]
By Ryan Ellis The month of July brings with it this year a tidal wave of tax payments owed by employers and families to the IRS and state tax offices. In total, about $1 trillion is scheduled to come out of the economy in July and be sent to federal, state, and local governments. Thankfully, Treasury Secretary Steven Mnuchin has full authority to delay at least the IRS payments until later this year, or even into the early part of 2021. In March, as part of the first wave of emergency COVID-19 relief, the Treasury Department announced in a series of rulings that tax payments owed between March and June would all be shifted into the month of July. This rather sizeable list includes but is not limited to: balances due on 2019 personal income tax returns, estimated tax payments for corporations and small businesses for the first and second quarters of [...]