Compared to earned income, capital is lightly taxed in the United States. This is backwards, write Richard Reeves and Isabel Sawhill in A New Contract with the Middle Class. Christopher Pulliam outlines key proposals from the Contract to help shift economic dynamics back toward the middle class.
Families have begun receiving the first of their monthly checks from the American Rescue Plan’s expanded Child Tax Credit. On an episode of The Current podcast, Robert Greenstein calls the benefit transformational and says it’s critical that the child tax credit and expanded income tax credit be made permanent.
Global fossil fuel subsidies contribute to inefficiency, inequity, and negative externalities. Despite the scale of the problem, reform efforts across the world have been piecemeal. According to Johannes Urpelainen and Elisha George, countries must urgently address these subsidies, and the United States should take the lead on reform efforts.
In Las Vegas, stark race gaps in both mathematics and English proficiency rates emerge long before high school. Richard Reeves and Ember Smith examine how well public K-12 education serves Hispanic students in Clark County, recommending paths to improve outcomes for Hispanic students within and beyond county lines.
More from Economic Studies
What does the Fed mean when it talks about tapering? As the economy rebounded in mid-2021, Fed officials began talking about slowing—or tapering—the pace of its bond purchases. In a new explainer, The Hutchins Center breaks down the Fed’s practice of tapering and its effects on the economy.
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