Executive Summary The Organization for Economic Co-operation and Development’s (OECD’s) pillar two proposal includes three crucial tax rules intended to work with current tax laws worldwide. The Joint Committee on Taxation (JCT) and the Tax Foundation made predictions of the effect on US revenue given the adoption of pillar two both internationally and nationally. The … Continue reading
Category Archives: Economy
The OECD and UN International Tax Proposals
Executive Summary The Organisation for Economic Co-operation and Development (OECD) has proposed an international tax agreement consisting of two pillars, aimed at taxing digital companies and preventing double taxation. The United Nations (UN) has proposed a potentially legally binding international tax code that rivals the OECD tax code. The implementation of one or both tax … Continue reading
SEC Announces Finalized Rules for SPAC Transactions
Executive summary SEC regulations aim to address concerns surrounding transparency and investor protection in SPAC transactions. These regulations encompass enhanced disclosure standards, regulatory compliance measures, and stricter guidelines for financial projections within SPAC transactions. Dissenting opinions from commissioners underscore the importance of a balanced approach between investor concerns and fostering market efficiency in SPAC markets. … Continue reading
Culture / Economy / Fiscal policy / Politics / Regulation
Unlocking Transparency: The FTC’s Battle Against Hidden Fees
Executive Summary Deceptive pricing in various industries most evidently in the hotel and ticketing industry, prompted the FTC’ to propose rules to combat hidden fees and protect consumer interests. The proposed Trade Regulation Rule aims to penalize violators, compensate consumers, and enforce transparent pricing. The broad scope of the proposed rule presents intricate challenges across … Continue reading
Supply Shortages, High Prices, and Carbon Emissions: The Result of Tariffs on Chinese EVs
Executive Summary Increases to import tariffs on foreign vehicles have been hinted at by President Biden and suggested by the House Select Committee on the Chinese Communist Party (CCP). While automobile tariffs are often implemented to stimulate sales of domestic vehicles, it is unclear if American manufacturers can meet the increasing demand for electric vehicles (EVs); high tariffs also dramatically … Continue reading
Economy / Technology / Trade
Big Businesses Ache and Small Businesses Suffer from Digital Protectionism
Executive Summary The United States Trade Representative (USTR) withdrew its support for World Trade Organization (WTO) proposals that promoted cross-border data flows and restricted requirements for data localization and source code transfers. While the decision has been cited as an effort to maintain sufficient “policy space” and control Big Tech, small and medium-sized enterprises (SMEs) … Continue reading
Trade Barriers and Tariff Schedules: How the United States Risks Chinese Dominance in the Indo-Pacific
Executive Summary While China is reaping the benefits of entering the Regional Comprehensive Economic Partnership (RCEP) – the world’s largest free trade agreement (FTA) – the United States has not established a competitive FTA of its own in the Indo-Pacific. RCEP’s tariff schedule aims to reduce tariffs for RCEP nations by approximately 92 percent over … Continue reading
BRICS and Currency Diversification Challenge the Dollar
Executive Summary The U.S. dollar’s position as the preeminent global reserve currency for international trade and transactions is under threat from countries across the world – particularly Brazil, Russia, India, China, and South Africa (BRICS) – that seek greater economic autonomy. BRICS nations plan to become less reliant on the U.S. dollar by circumventing it … Continue reading
The Moral Case for Price Gouging
Executive Summary Last year Senators Elizabeth Warren (D-Mass.) and Tammy Baldwin (D-Wisc.) along with Rep. Jan Schakowsky (D-Ill.) introduced the Price Gouging Prevention Act of 2022 which would allow the Federal Trade Commission (FTC) and state Attorney Generals to enforce a federal ban against “unconscionably excessive” price gouging. While having good intentions, such legislation has … Continue reading
“De-Dollarization”: BRICS Countries Propose New Currency
Executive Summary In late March, Russian officials announced that the BRICS (Brazil, Russia, India, China, and South Africa) countries are working on creating a new currency for use in international trade. BRICS has developed deep ties since its inception in 2009 through expanded access in trade, annual diplomatic summits, and the creation of the New Development Bank. … Continue reading
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