A Proposal for an Enhanced Partially Refundable Child Tax Credit
This proposal was produced in collaboration with The Hamilton Project. The proposal will be presented by Wendy Edelberg at a Hamilton Project event on March 1st and can be viewed here. INTRODUCTION The economic case for expanded income assistance to low-income families with children in this country is exceptionally strong. We have ample evidence showing ...
Why Drug Pricing Reform Is Complicated: A Primer and Policy Guide to Pharmaceutical Prices in the US
Pharmaceutical pricing in the United States is a complicated and opaque process. Confusion over price setting and the method by which new drugs are brought to market can lead to ineffective and even harmful policies that decrease society’s access to innovative new treatments without providing sufficient decreases in spending to justify the cost. At its ...
Why and How to Expand US Immigration
Immigration has long been celebrated as an engine of America’s economic growth and cultural vibrancy, even as the changes it brings often cause concern among the populace. An estimated 13.7 percent of those living in the United States today were born outside its borders, nearly as high as the peak of 14.8 percent in 1890 ...
Will Population Aging Push Us over a Fiscal Cliff?
The share of the US population age 65 and older is rising dramatically. In the year 2000, 12 percent of the population was over age 65; by 2050 that share will be 22 percent. Much of that aging has already occurred: in 2022, just over 17 percent of Americans are retirement age. Population aging is ...
April 2024 Jobs Report: A Best-Case Scenario for the Fed?
The BLS estimated that the US economy added 303,000 jobs in February, with the unemployment rate ticking down from 3.9% to 3.8%. Below are three key takeaways from this report – and what it means for interest rates. 1. Job Growth Continues to Defy Expectations Overall nonfarm employment grew by 303,000 in March, blowing past ...
April 2024 Jobs Report: Steady-As-She-Goes Labor Market
The BLS estimated that the US economy added 175,000 jobs in February, with the unemployment rate ticking up from 3.7% to 3.9%. Three things stood out from this report. 1. Job Growth Ticks Down After Recent Strength After a string of stronger-than-expected employment gains, job growth cooled down this month. The 175,000 jobs added fell ...
April 2024 CPI Report: A Step in the Right Direction
The Consumer Price Index rose at a 3.4% annual pace in April 2024, and 3.6% for all items excluding food and energy. Three things stood out from this report. 1. Inflation softens, after stickiness to start off the year Annual inflation, as measured in the CPI, started the year near a post-COVID low of 3.1% ...
May 2024 Jobs Report: Mixed Messages in the Job Market
The BLS estimated that the US economy added 272,000 jobs in February, with the unemployment rate ticking up from 3.9% to 4.0%. Three things stood out beneath the headlines of this report. 1. Job Growth Accelerates Today’s estimate of 272,000 jobs added substantially beat the consensus market forecasts of 180,000, and by all measures is ...