The Tax War Over SALT
INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.
Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Alex Brill.
Alex Brill recently wrote: “Much ink has been spilled either criticizing or praising the bipartisan, bicameral Wyden-Smith tax deal. Like most large tax bills, Wyden-Smith has faults. The bill makes many retroactive and mostly temporary changes, when sound tax policy should generally be prospective and permanent. Moreover, the additional expansion of the child tax credit (CTC) will further our fiscal reliance on nonparent taxpayers. (When first enacted in 1997, the CTC reduced federal revenues by $16 billion annually. By 2018, it had ballooned to $114 billion annually.) But Wyden-Smith has good policies as well. The bill reinstates a more pro-growth tax treatment of research and development costs and lowers the cost of capital generally. Critics of Wyden-Smith would do well to shift their focus to a new proposal that has emerged: the state and local tax (SALT) bill recently approved by the House Rules Committee and promised to blue-state Republicans in exchange for their support of Wyden-Smith.”
According to the American Enterprise Institute, “Alex Brill is a resident fellow at the American Enterprise Institute (AEI), where he studies the impact of tax policy on the US economy as well as the fiscal, economic, and political consequences of tax, budget, health care, retirement security, and trade policies. He is the editor of Carbon Tax Policy: A Conservative Dialogue on Pro-Growth Opportunities. Before joining AEI, Brill served as the policy director and chief economist of the House Ways and Means Committee. Previously, he served on the staff of the White House Council of Economic Advisers. He has served on the staff of the President’s Fiscal Commission (Simpson-Bowles) and the Republican Platform Committee (2008). He is also the founder and CEO of the economic consulting firm Matrix Global Advisors (MGA). Brill has an MA in mathematical finance from Boston University and a BA in economics from Tufts University.”
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LISTEN TO THE INTERVIEW IN ITS ENTIRETY HERE
