Executive Summary Last month Canada and China reached a deal to reduce Canadian tariffs on Chinese electric vehicles in return for lower Chinese tariffs on Canadian canola products; this agreement reflects the pragmatic pivot North America has taken toward the Chinese agricultural market. The Trump Administration’s threat of 100 percent retaliatory tariffs on Canadian imports if a deal goes through has created unnecessary conflict with Ottawa. U.S.-Mexico-Canada (USMCA) Agreement partners must realize their shared interests in dealing with Beijing and, in one form or another, coordinate … Continue reading
Notable Paperwork Expansion Within the CY 2026 Physician Fee Schedule Final Rule
The Centers for Medicare & Medicaid Services (CMS) published its Current Year (CY) 2026 Physician Fee Schedule (PFS) and related policy updates on November 5. While the final rule spans a wide range of Medicare payment and operational policies, the information collection request associated with the Medicare Prescription Drug Inflation Rebate Program introduces a particularly … Continue reading
Price Controls and Critical Minerals: Understanding the U.S.’s Rare Earth Economic Policies
Executive Summary: In response to the Chinese government’s threated export controls on rare earth minerals, the Trump administration has signed frameworks for cooperation on rare earth mining and processing with several countries. Almost all of these frameworks specifically mention price floors and other pricing controls as a potential policy tool. Though China is certainly engaging … Continue reading
California’s “Radical” Climate Program: Examining Challenges to the Cap-and-Trade System
On September 19, California Governor Gavin Newsom approved a bill renewing California’s cap-and-trade program until 2045. This renewal comes despite hostility toward state-level clean energy programs from the Trump administration, notably President Trump’s executive order that specifically criticized California’s cap-and-trade program. Continue reading
IRS Layoffs Stall Implementation of Republican-Backed Tax Simplification
EXECUTIVE SUMMARY• The Trump administration furloughed almost half of Internal Revenue Services (IRS) employees and issued 1,300 layoffs during the October 2025 shutdown.• The cuts have delayed implementation of the One Big Beautiful Bill (OBBB), making Republicans’ tax-simplification effort appear inefficient and disorganized.• Businesses and individuals now face higher costs as they rely more on … Continue reading
Money Supply and the Current Account: Testing the Predictions of the AA-DD Model
Executive Summary: Policymakers have increased attention to current account deficits. Though experts debate whether current account deficits negatively impact the economy, many have also put forward theories regarding the influence of money supply on the current account. The classic AA-DD model predicts that in the short term, an increase in money supply should result in … Continue reading
The Impact of AI Efficiency Gains on National Debt and Gross Domestic Product
Aryan Mirchandani Executive Summary The recent AI boom has prompted policymakers to forecast exponential GDP growth in the near term, easing pressure on officials to act against rising national debt levels. The Trump Administration has utilized the AI efficiency boom to continue large levels of fiscal spending, as it implores that this boom will decrease … Continue reading
Climate Insurance Crisis: Extreme Weather Events Pose Threats to Housing Market
Insurance companies are reacting to the increase in climate change-related natural disasters by raising premiums and withdrawing coverage from high-risk areas. Continue reading
Treasury Outlines OBBB Tax Implementation as Compliance Costs Remain Elevated
EXECUTIVE SUMMARY• Department of the Treasury briefed House of Representatives lawmakers on the schedule for rolling out tax provisions of the One, Big, Beautiful Bill (OBBB).• Internal Revenue Service (IRS) paperwork data show that core returns and schedules tied to these provisions require 3.5 billion hours and over $139 billion annually in compliance costs.• Compliance … Continue reading
Betting on Trade: Prediction Markets & Tariff Uncertainty
Executive Summary: President Trump’s frequently changing tariffs increased uncertainty for many businesses owners. This uncertainty could potentially damage the economy by reducing investment and new research and development processes. Polymarkets allow anyone to bet on an outcome by buying a yes share or a no share, with the price of a yes share corresponding to … Continue reading
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