In advance of Dodd-Frank’s 5th anniversary, the American Action Forum (@AAF) today released an analysis of the law’s impact on employment, the housing market, and the regulatory burden. The AAF research found that 5 years later Dodd-Frank has imposed $24 billion in regulatory costs and 61 million in paperwork burden hours. Only 60.3 percent of Dodd-Frank’s 398 regulations have been finalized, with another 21.5 yet to be proposed, and 18.2 percent in proposed form.
American Action Forum President Douglas Holtz-Eakin made the following statement today regarding the Supreme Court’s decision in King v. Burwell. "The Supreme Court’s decision ends the detour into the legality of drafting and returns the focus to the core problem with Obamacare: it is poor health insurance policy, poor health care policy, poor budget policy, and poor economic policy. Today’s ruling ensures that growth will continue to be impaired, taxes will continue to rise, dangerous entitlement spending will feed the unsustainable federal budget, and families will be burdened with expensive health insurance that provides inadequate access to actual care."
Douglas Holtz-Eakin, president of the American Action Forum, issued the following statement regarding the CBO’s report on the repeal of the Affordable Care Act:
“CBO's dynamic score confirms the obvious: Obamacare is bad economic policy. It harms labor supply and incomes, impedes accumulation of private capital and slows overall growth. It is hard to identify another single act that would raise economic growth over the next decade as much as repealing the ACA.”
The American Action Forum (@AAF) and the American Action Network today released the results of a national survey examining public attitudes on the Department of Labor’s proposed regulation for financial advisers. Among the key findings, the survey found that Americans oppose the fiduciary regulation (50% to 28%), and are significantly less likely to support the proposed regulation when they hear about the personal impact this would have on middle class savers (73% less likely).
The American Action Forum today released new research examining the economic impact of the Dodd-Frank Act. The research, conducted by AAF’s President Douglas Holtz-Eakin, found that Dodd-Frank will reduce economic growth by $895 billion, or $3,346 per working-age person, over 2016-2025. The results of the research are also the focus of a new #Eakinomics video released today.
“[AAF] supports the Ex-Im Bank because that’s where the numbers – and the facts – led it.”
The American Action Forum celebrated five years last night with a gala at the Newseum, emceed by Fox Business’ Maria Bartiromo, and featuring Speaker John Boehner and Charles Krauthammer.
Ahead of the American Action Forum’s 5th anniversary celebration this evening, AAF is releasing “The Forum at Five.” The five minute video looks back at the founding of the Forum, examines their growth and success, and takes an eye to the future in considering what’s next for the five-year old think tank.
The American Action Forum (@AAF) today released an analysis of the Department of Labor’s (DOL) regulation regarding financial advisers. The AAF analysis finds that the fiduciary regulation may actually hurt low-and middle-income retirement savers by making investment advice more expensive and less available.
On tax day, the American Action Forum (@AAF) analyzed the burden of the nation’s broken tax code for individuals. The AAF research finds the individual income tax generates 200 forms, requires Americans to spend 2.6 billion hours filling out these forms, and costs $33.6 billion in compliance spending. These figures are staggering for the 150 million Americans who file taxes.
The American Action Forum (@AAF) today released new research examining the support provided to small businesses by the Export Import Bank (Ex-Im). As the official export credit agency of the United States, Ex-Im helps level the playing field for U.S. exporters in a global market distorted by the export credit activities of competitor nations. The Bank’s charter is currently set to expire at the end of June. While critics claim that the Bank mainly helps larger businesses, AAF research found that small business authorizations dominate Ex-Im’s financing.
Government programs that provide income support compete with low wage employers for workers, a new report from the American Action Forum (@AAF) found. The direct competition ultimately increases the cost of hiring workers and reduces the amount of low-skill jobs available.
To commemorate the 5th anniversary of the Affordable Care Act, the American Action Forum (@AAF) launched a questionnaire showing how the law has impacted individuals.
The American Action Forum today released new research into a bipartisan, bicameral proposal to repeal the Sustainable Growth Rate (SGR). The AAF research finds that by 2035 the SGR repeal would reduce spending by $295 billion. In the first 10 years, the SGR repeal would reduce spending by $65 billion. An additional $230 billion reduction in spending would be realized by 2035.
Governor Bobby Jindal will deliver remarks today at the American Action Forum’s Fred Malek Lecture Series. The event will begin at 3:30 p.m. Can’t make it to the event? A live webcast can be watched by clicking here.
Ahead of the president delivering the State of the Union tonight, the American Action Forum (@AAF) released an overview examining the state of affairs in the domestic policy spectrum.
AAF Solutions, a product of the American Action Forum (@AAF), today released additional recommendations that the Financial Stability Oversight Council (FSOC) should implement to foster greater confidence in its operations and designations.
As the 114th Congress takes on the challenge of addressing America’s most pressing policy challenges, the American Action Forum today released an eBook of policy ideas and solutions. The policy topics addressed in AAF’s eBook range from financial services to health care, from budget reconciliation to addressing the national debt, labor policy and beyond.
American Action Forum President Douglas Holtz-Eakin will testify this morning before the House Ways and Means Committee on policies that can foster economic growth and job creation.
The labor market costs of a minimum wage hike to $10.10 far outweigh any budgetary benefits, new research from the American Action Forum (@AAF) found.
The Administration’s effort to expand overtime pay requirements for salaried workers would impact very few people and minimally affect those in poverty, according to new research from the American Action Forum (@AAF).
The facts regarding inversions are the subject of a new #Eakinomics video released today by the American Action Forum (@AAF). AAF President Douglas Holtz-Eakin provides a straightforward rebuttal to recent comments made by critics, including President Obama, claiming that inverted companies unfairly take advantage of the education system and infrastructure without paying taxes. In the video, Holtz-Eakin explains that inversions level the playing field while companies continue to pay taxes after the practice.
The American Action Forum (@AAF) today released a set of principles for better labor market policy. The research, authored by AAF’s President Douglas Holtz-Eakin, centers on three overarching principles: Do No Harm; Build a Work-Friendly Social Safety Net; and Improve Skills in the Labor Force. Policy recommendations are highlighted for each principle, including: stopping the ACA’s damage to the labor market, expanding the Earned Income Tax Credit, reforming Social Security Disability Insurance, and not raising the minimum wage.
AAF Solutions, an initiative by the American Action Forum (@AAF), today released a list of suggestions that a council of financial regulators should implement to improve its designation process of nonbanks.
In a new #Eakinomics video, AAF President Douglas Holtz-Eakin discusses the state of the labor market with 5 key facts demonstrating the incomplete recovery. The labor market facts include that there are 2.8 million fewer full time, year round workers in 2013 than in 2007; the historically low labor force participation rate; and how the unemployed face a tough road to employment.
The American Action Forum (@AAF) today released a new video on the impact to consumers if insurance companies are subject to new, bank-centric regulations. The Financial Stability Oversight Council has been considering designating insurance companies as systemically important. Satya Thallam, AAF’s Director of Financial Services Policy, explains that consumers could face a 3 percentage point increase on insurance products due to the new regulations.
AAF Solutions, an initiative of the American Action Forum (@AAF), today proposed three steps to streamline financial regulations. Over the years, financial regulations have simply been layered on top of old regulations. This regulatory accumulation was exacerbated with the passage of the Dodd-Frank Act that added $29 billion in regulatory costs.
American Action Forum President Douglas Holtz-Eakin made the following statement:
A new study from the American Action Forum (@AAF) examines the impact of the Affordable Care Act’s (ACA) regulations on small businesses’ employee compensation and employment. The AAF study finds that the ACA is reducing employee compensation at small businesses by at least $22.6 billion annually, or an average of $935 for employees working a full year at a small business with 50-99 employees, and $827.50 for employees of small businesses with 20-49 employees.
American Action Forum President Douglas Holtz-Eakin made the following statement:
Proposals that fail to address the underlying incentives driving inversions put 42,000 U.S. jobs at risk of going overseas, according to new research from the American Action Forum (@AAF). The AAF research also found that the outdated U.S. tax code risks sending $988 billion in U.S.-based capital overseas.
The American Action Forum (@AAF) today released an analysis of factors surrounding funding differences among financial institutions on the heels of a report by the Government Accountability Office (GAO) that looked at whether large banks receive an implied subsidy
American Action Forum President Douglas Holtz-Eakin will testify this afternoon before the Senate Banking Committee regarding the Government Accountability Office (GAO) report on expectations of government support for bank holding companies. Following are key highlights from his testimony. You can read the full testimony here.
To mark the fourth anniversary of the Dodd-Frank Act, the American Action Forum (@AAF) released new research examining the law and its impact on the regulatory burden, the housing market, and credit availability. The AAF research found that Dodd-Frank has imposed $21.8 billion in costs and 60.7 million in paperwork burden hours so far, a 41 percent increase in costs and a four percent increase in paperwork hours from a year ago. The uncertainty created by Dodd-Frank is hurting consumers, preventing lending from rebounding as quickly as the average economic recovery. The AAF research also found that the employment in the financial industry has grown 2.9 percent since 2010, compared to 16.2 percent growth for financial regulators.
As part of the #Eakinomics video series, the American Action Forum (@AAF) today released a new video that explains why U.S. companies decide to move their headquarters overseas after a merger. In the #Eakinomics video, AAF President Douglas Holtz-Eakin explains what a tax inversion is, the reasons driving companies to move their headquarters, and what can be done to stop inversions.
AAF Solutions, a new initiative by the American Action Forum (@AAF), today unveiled a new “long page” microsite delivering a digestible, visually engaging presentation making the economic case for immigration reform. Through significant graphics, statistics and rolling screens, the microsite walks viewers through the many components and issues of immigration reform.
Today, the American Action Forum launched AAF Solutions, a new initiative that will offer positive, constructive, digestible, and actionable policy solutions to solve ongoing problems the country faces. With so much of the national debate always focused on the negative, AAF Solutions products will approach policy a different way, defining the problem and then proposing reasonable and actionable solutions that address the problem.
The Export-Import Bank (Ex-Im), the official export credit agency of the United States, acts in a distorted world of export finance to empower American companies facing increased competition. One part of a larger trade policy, Ex-Im is a way to level the playing field for U.S. exporters as they face market realities like competition from foreign export credit agencies, new research from the American Action Forum (AAF) finds.
The American Action Forum (@AAF) today released new research that examines the cost to savers and investors if regulators designate certain investment funds as systemically important financial institutions (SIFI).
Policymakers should continue to shift risk and cost to insurers if the Terrorism Risk Insurance Act (TRIA) is extended, a new report from the American Action Forum (@AAF) recommends. TRIA, a federal reinsurance program which allows insurers to share losses with the government in the event of a catastrophic event, is set to expire at the end of 2014.
The American Action Forum (@AAF) released new research on the impact of the Medicare Advantage (MA) cuts seniors will face in 2015 due to the Affordable Care Act (ACA) and other government regulations.
On tax day, the American Action Forum (@AAF) analyzed the burden of the nation’s broken tax code for individuals. The AAF research finds the individual income tax generates 199 forms, requires Americans spending 2.6 billion hours filling out these forms, and spending $33.6 billion to comply. These figures are staggering for the 150 million Americans that file taxes.
As the fourth anniversary of the Affordable Care Act (ACA) approaches, the American Action Forum (@AAF) launched its newest resource: the ACA Timeline.
The American Action Forum (@AAF) released new research examining “too big to fail” (TBTF) and finding that TBTF expectations are a problem at the nexus of public policy and creditors. Creditors provide funds to companies without properly pricing for risk by incorporating the possibility of a rescue.
The American Action Forum (@AAF) released an overview of the president’s Fiscal Year 2015 budget, as well as analysis of key spending priorities.
The American Action Forum (@AAF) released new research examining the need to modernize and simplify the U.S. tax code, the economic impact of such improvements, and the recent proposal by Ways and Means Chairman Dave Camp. AAF found that enacting pro-growth tax simplification could result in significant economic benefits, including: as many as 500,000 new jobs, up to a 5 percent increase in GDP, and $1.5 trillion in deficit reduction.
In a new #Eakinomics video, American Action Forum (@AAF) President Douglas Holtz-Eakin (@DJHEAKIN) clears up the confusion on the Affordable Care Act & the CBO report with a step-by-step explanation of exactly how the law’s incentives affect employment. The CBO report found the ACA will eliminate 2.5 million jobs by 2024.
The American Action Forum (@AAF) today released a study which found that the White House is still reviewing several new Affordable Care Act (ACA) regulations, including the Individual Mandate Tax.
Washington – The American Action Forum (@AAF) today released new research examining the recent proposed regulations for Medicare Part D issued by the Center for Medicare and Medicaid Services (CMS).
The American Action Forum (@AAF) today released a new primer examining the earned income tax credit (EITC) finding it benefits 58.1 % of the working poor; while only 5.3 % of the working poor earn the minimum wage. The AAF primer evaluates the minimum wage and the EITC in helping workers in poverty. The EITC outperforms the minimum wage in assisting the working poor in every measure evaluated.
The American Action Forum (@AAF) examined the progress in the federal effort to reduce regulations finding the regulatory burden has actually increased despite the initiative. AAF found more than 1.5 billion hours of paper work and $10.2 billion in new net costs have been added.
The impact of large regulations, those costing $1 billion or more, is detrimental to industry employment and worker’s salaries, new research from the American Action Forum (@AAF) found. The AAF research examined various industries that are affected by costly regulations and the resulting changes in employment and compensation
Last year, federal regulators added $112 billion in new regulatory costs and 157 million paperwork hours, according to new research released today by the American Action Forum (@AAF).
The American Action Forum (@AAF) examined and identified steps the Federal government can take to strengthen the United States’ position as the leading producer of oil and gas
The ACA Dictionary is a comprehensive resource of definitions and background on health care terms, acronyms, and all things Affordable Care Act.
The American Action Forum (@AAF) examined and identified steps the Federal government can take to strengthen the United States’ position as the leading producer of oil and gas.
The American Action Forum (@AAF) today released an analysis of the Bipartisan Budget Act. The AAF’s analysis, written by Fiscal Policy Director Gordon Gray, finds the agreement has much to like for those concerned with the fiscal trajectory of the nation.
The American Action Forum (@AAF) released an analysis of the final Volcker rule issued today by financial regulators. The exemptions included in the Volcker rule are examined as well as the supervision burden on financial regulators.
The American Action Forum (@AAF) released a primer detailing the foundation of trade promotion authority (TPA) and current developments. Currently, there is a bipartisan effort to renew TPA so that U.S. trade officials can complete current trade negotiations.
The American Action Forum (@AAF) released new research that examines the minimum wage, its impact on the labor market, and its effectiveness as an anti-poverty tool. The AAF research finds the minimum wage fails to address poverty since it fails to address joblessness. Increasing the minimum wage to $9 and $10, as has been proposed recently, would fail to assist almost 99 percent of all people in poverty.
The American Action Forum (@AAF) released research examining the cumulative impact of regulations on employment. AAF found that when agencies impose three economically significant regulations that impact small business, the affected industry employment declines by up to 20 percent.
The American Action Forum (@AAF) released new research focusing on two new proposed Federal regulations that represent the largest expansion of red tape to date. These two new proposed regulations would together add 45.9 billion hours of new paperwork to the 10.3 billion paperwork hours currently required by the Federal government.
The American Action Forum (@AAF) today released a new report finding that one-third of all Affordable Care Act (ACA) regulations have required later corrections.
In a new #Eakinomics three part video series from the American Action Forum (@AAF), Douglas Holtz-Eakin walks viewers through the nation’s spending and debt problem
The American Action Forum (@AAF) released new research examining an increase in the minimum wage finding it will have a detrimental effect on new jobs and overall employment. In California, where the state raised the minimum wage to $10, the increase will result in a loss of 191,000 new jobs. The study finds that if every state also adopts a $10 minimum wage over 2.3 million new jobs will be lost nationwide. AAF also released an interactive map showing the jobs lost by state.
New Survey Shows Majority of Americans Believe Chief Executive Not Listening to the American People, Lacks Negotiation Skills to Govern the Country
The American Action Forum (@AAF) released a new report today finding that a government shutdown would impact military troops while virtually all the spending under Obamacare would continue. Military troops would remain on duty during a shutdown and would work without pay, the report finds.
The American Action Forum (@AAF) released an analysis of the Keystone pipeline delay finding that Americans will send $7.7 billion more to oil suppliers in the Persian Gulf over 2013-2015.
Greenhouse gas regulations for power plants will impact 53 small businesses across 26 states, a new analysis by the American Action Forum (@AAF) has found. The AAF analysis also found that the regulations will impact coal-fired plants and natural gas plants.
Ahead of the five year anniversary of the financial crisis the American Action Forum (@AAF) released a report detailing the Federal Reserve’s response to the financial crisis. In attempts to stabilize the economy, the Federal Reserve created 12 programs and facilities to inject liquidity and support financial markets.
Washington – The American Action Forum (@AAF) today released a paper finding that the Medicare Part D program has been successful in its first ten years, with significantly lower government expenditures than projected, low beneficiary costs, and high customer satisfaction.
Policies that improve the foreclosure process, as well as promote growth in jobs and income, are needed to improve the housing and economic recovery in Ohio, according to a new research by the American Action Forum (@AAF).
Americans spend more than 10.3 billion hours on paperwork required to comply with approximately 9,100 forms from the government. The American Action Forum (@AAF) examined a regulatory budget for the Federal government that would aim to reduce the amount of paperwork Americans must complete in order to comply with government regulations. The AAF analysis found that a regulatory budget would save $3.1 billion in regulatory compliance costs, promote economic growth, and reduce regulatory red tape while protecting public health and safety.
The U.S. corporate tax code locks trillions of dollars out of the United States. Bringing these funds back as part of a major tax overhaul would benefit U.S. economic growth and jobs. Estimates from a repatriation analysis by the American Action Forum (@AAF) suggest an additional $440 billion in GDP.
WASHINGTON -- American Action Forum (@AAF) Director for Regulatory Policy Sam Batkins testified before the Senate Judiciary Subcommittee on Oversight, Federal Rights, and Agency Action, on the topic of The Human Cost of Regulatory Paralysis. In testimony before the Subcommittee, Batkins said: “It is undeniable that federal red tape is growing, and will likely continue to trend upwards with the implementation of the Affordable Care Act and Dodd-Frank.”
The American Action Forum (@AAF) continues to grow, hiring Marisol Garibay (@Garibaym3) as Deputy Communications Director.
Today the American Action Forum (@AAF) released a new primer on the Unemployment Insurance system (UI). The primer offers an explanation and definition of the UI, an overview of the program’s creation and use through the decades, a literature review, and the budgetary costs of the UI.
American Action Forum (@AAF) President Douglas Holtz-Eakin will today testify in front of the House Committee on Education and Workforce - Subcommittee on Health, Education, Labor and Workforce, on the topic of the Employer Mandate delay within the Affordable Care Act (ACA).
Proposal Would Save Students Up to $1,413 Over the Life of Their Loan; Save Taxpayers $4 Billion Over Next Decade
WASHINGTON, DC - More than 110 influential conservative economists released an open letter to Congressional leadership today supporting immigration reform and touting its economic and budgetary benefits for America. The letter, led by American Action Forum President Douglas Holtz-Eakin, includes a who's who of conservative luminaries: Nobel Laureate in Economics Edward Prescott, Art Laffer, Glenn Hubbard, Ed Lazear, Larry Lindsey, June O’Neill, George Schultz and more.
WASHINGTON – The American Action Forum (AAF) today released a study outlining the channels for immigration reform to translate in to better economic growth and budgetary performance. The paper concludes that “a benchmark immigration reform would raise the pace of economic growth by nearly a percentage point over the near term, raise GDP per capita by over $1,500 and reduce the cumulative federal deficit by over $2.5 trillion.”
WASHINGTON – The American Action Forum (@AAF) and Progressive Policy Institute (@PPI) today released a joint paper outlining common-sense guidelines to Federal Housing Administration (FHA) reform. Jason Gold, PPI Senior Fellow and Director of the “Rebuilding Middle Class Wealth” project, and Andrew Winkler, AAF’s Director of Housing Policy, demonstrate that as the debate in Congress evolves over the future of FHAs, there is common ground for liberals and conservatives to build on.
You've surely heard a lot about the potential impacts of going over the fiscal cliff. But what will it do to the financial markets?
If investors start to doubt that a deal will be reached, the consequences could prove severe and difficult to reverse. Such doubts could spark broad selloffs, causing consumers and businesses to retrench, damping investment and job creation.
Republican economist Douglas Holtz-Eakin says in a report to be released Wednesday by the American Action Forum, the right-leaning think tank he leads, that the CBO's estimates understate the depth of a "fiscal cliff" recession next year because economic models can't fully account for financial-market effects.
WASHINGTON - A new analysis from the American Action Forum finds that going over the fiscal cliff would not only have an effect on unemployment, but also on the financial markets as well. American Action Forum President Doug Holtz-Eakin and COO Cameron Smith found that "cliff diving would have significant impact on financial markets, impair asset values, exacerbate credit stringency, and amplify the direct effects on the main street economy. Moreover, contrary to what some have asserted, such impacts cannot be 'unwound' by retroactively legislating away the fiscal cliff."
Report:Health Care Law Imposes $27 Billion in Costs on Private Sector, States
Report:Health Care Law Imposes $27 Billion in Costs on Private Sector, States
Obamacare: $27.6 Billion in New Regulations
Washington Free Beacon
Free Beacon Staff
Conservative think tank says health law compliance has cost $27 billion
October 10, 2012
New regulations under President Obama have cost states and private companies more than $27 billion, the conservative American Action Forum said in a new analysis.
Overnight Money: Donovan talks housing recovery.
By: Vikki Needham & Bernie Becker
Let's get together and talk about the housing market: Housing Secretary Shaun Donovan will headline a housing policy summit on Tuesday at the National Press Club that will get into the nitty gritty of the sector's slow but steady recovery.
Cost of Regulations Under Obama: $488 Billion
September 19, 2012
PHOENIX – The American Action Forum released today a study examining the current state of the housing market in Arizona and an analysis of the policies that have influenced recovery there. The paper, “Boom, Bust, and Beyond: A Look at Housing Market Data in Arizona” was released in conjunction with today’s event, the U.S. Housing Recovery: Lessons from Arizona, featuring Senator John McCain and top housing and economic experts across the political spectrum.
What policies would President Obama implement in a second term? On regulatory policy, it’s clear, major rules are already at the White House waiting final approval. The White House Office of Information and Regulatory Affairs (OIRA) is currently reviewing 24 "economically significant" regulations (rules that have an impact of $100 million or more on the economy).
WASHINGTON – A new paper by Forum President Douglas Holtz-Eakin and Forum expert Andrew Winkler shows that the recovery of the housing market will likely remain tepid until robust economic growth is achieved nationally. The paper, “The U.S. Housing Market: Metrics of Recovery & Links to Economic Growth,” was released in conjunction with today’s Forum event, Are We There Yet? The Bumpy Road to a Housing Recovery, featuring top housing and economic experts from around the country and across the political spectrum.
WASHINGTON - Supreme Court insiders now believe there is a better than 50-50 chance that the Supreme Court will strike the individual mandate from the Patient Protection and Affordable Care Act (PPACA), a significant jump from before the Court's oral arguments. The insiders survey, comprised of a representative sample of former Supreme Court clerks and attorneys who have argued before the Court, was commissioned by the American Action Forum and Center Forward, and was conducted by Purple Insights, the research division of Purple Strategies.
Finds Tax Disproportionately Affects Small Business; Could Lead to Significant Job Loss
Brief Highlights Flawed Justification For Individual Mandate