Problems with delaying a corporate rate increase

By Kyle Pomerleau According to Law360, the Biden administration is planning to delay some of its proposed corporate tax increases, including a rate hike from 21 to 28 percent, in an effort to minimize harm ....

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New research on the Paycheck Protection Program

By Michael R. Strain The Paycheck Protection Program was the most ambitious and creative fiscal policy response to the Pandemic Recession. Enacted by the Cares Act in March, PPP offered forgivable loans to businesses with ....

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Congress still needs to respond further to the COVID recession

By Stan Veuger and Jeffrey Clemens Friday’s data on the October employment situation provides a sobering reminder of the ongoing need for sound economic policy in response to the COVID-19 pandemic. Labor market indicators remain ....

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A word of caution regarding our current approach to economic recovery

Emergency lockdowns have been successful in keeping ICUs from being overwhelmed, but as the economy reopens, virus spread continues, generating recessionary pressure on the economy. There are at least two competing views on how the ....

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Toward a better Employee Retention Tax Credit

Lawmakers in both chambers of Congress have staked out positions on expanding the Employee Retention Tax Credit (ERTC), a refundable tax credit that provides temporary wage support to help employers retain or rehire workers. In ....

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If Congress must have revenue tests, make them backward looking

Congress began negotiating in earnest this week on the details of “Phase 4,” the next round of economic recovery legislation to address the fallout from the coronavirus. Legislators are feeling pressure to make modifications to ....

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Leave the tax treatment of business meals and entertainment alone

Back in April, President Donald Trump expressed his support for expanding the deductibility of business meals and entertainment. The president argued, in a tweet, that restoring the old deduction would help the restaurant and entertainment ....

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