The Obama Administration is back with the final version of its so-called "Waters of the United States” (WOTUS) rule, which defines the bodies of water that will be regulated under the Clean Water Act of 1972. The rule was necessitated by a series of Supreme Court decisions that ruled the Environmental Protection Agency (and the Army Corps of Engineers) had overstepped their authority under the Clean Water Act.
The High Cost Plan Excise Tax, or “Cadillac Tax,” is one of the key provisions of Obamacare, both from the perspective of raising revenue and health policy. Beginning in 2018, there will be a tax of 40 percent on the amount of employer-provided insurance that exceeds a threshold. The threshold is set at $10,200 for individuals and $27,500 for family coverage in 2018, but is adjusted upward each year based on the Consumer Product Index (CPI).
Markets tanked yesterday, ostensibly over fears that the remarks of Chairwoman Janet Yellen put a rate increase back on the table. It is always a dangerous game to read the minds of millions of investors to conclude “the” cause of equity market fluctuations. But the chatter reinforced endless rehashing of the Fed’s 2015 policy over the past several months. Enough! When all is said and done:
The housing bubble and crash were at the heart of the financial crisis and Great Recession. Logic would have dictated that large reforms to the flawed system of housing finance — notably the large government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac-- would have followed. Politics and logic, however, live on separate planets so that is not what has transpired.
You should be able to keep your financial adviser. Unfortunately, the Department of Labor's (DOL’s) recently proposed “fiduciary rule” threatens this option.
In his 2,312 days in office, President Obama’s administration has finalized 2,210 new regulations that impose a new compliance burden of $659.6 billion. That “One-a-Day” pace means that the regulatory burden has risen by an average of $285 million per day; $11 million per hour; $198,000 per minute; or $3,300 per second of his time in office. Put differently, the regulatory burden has risen by roughly $100 billion per year or $1 trillion over the 10-year budget window.
Yesterday AAF participated in the Peterson Foundation Fiscal Summit 2015 and unveiled “Balanced: 2028,” its plan to address major social, budgetary and economic needs. One way to think about such a plan is to look at its constituent parts: comprehensive tax reform, reforms to Medicare and Medicaid, immigration reform, funding for defense and other priorities.
With another round of weak economic data and the specter of prolonged growth at the anemic pace of 2.1 percent per year, one would think that proposals to raise economic growth would be of central importance. The beginning of the 2016 White House race has delivered some proposals — candidates Rubio, Paul, Perry, Huckabee, Cruz and Christie have all discussed tax reform ideas as a central part of growing more rapidly — and candidates Bush and Christie have laid out specific growth targets.
Senators David Vitter and Elizabeth Warren have introduced bipartisan legislation restricting the Federal Reserve’s ability to act as a lender of last resort without Congressional approval. Specifically, the bill requires that a Fed emergency-lending program encompass at least five or more institutions.
March was the worst month for economic growth since the Great Recession. While official Gross Domestic Product (GDP) figures are computed and released quarterly, the private firm Macroeconomic Advisers produces a monthly estimate of GDP.