Since the surprise announcement last month that Senator Schumer (D-NY) and Senator Manchin (D-WV) had reached an agreement on the Inflation Reduction Act of 2022, the massive spending bill has received no shortage of media attention. However, much of the coverage has focused on the bill’s climate, healthcare and corporate tax provisions. Mainstream media has paid far less attention […]
Taxation
Companies and people are moving to low-tax states
Last month, hedge fund Citadel announced it was leaving its longtime home state of Illinois for Florida. The announcement comes on the heels of several other large employers exiting the Land of Lincoln, including Boeing, which is moving to Virginia, and Caterpillar, which is moving to Texas. While each departure tends to be advertised as a simple “strategic decision,” […]
Inflation Reduction Act includes misguided 15% corporate tax provision
Last month, Senator Joe Manchin (R-WV) announced, to the surprise of many, that he had reached an agreement with Senate Majority Leader Chuck Schumer on the embattled budget reconciliation package that has stalled in the Senate. Misleadingly named the Inflation Reduction Act of 2022, the proposed package includes a number of problematic provisions, such as a plan […]
Washington’s Spending Spree Continues
In February 2022, the U.S. National Debt surpassed $30 trillion, dwarfing the $19 trillion debt in 2016. While Republicans and Democrats will point the finger at each other for ballooning the national debt, the reality remains that wasteful spending has become entrenched in Washington, and has now left government debt higher than annual economic output […]
ICYMI: Why Higher US Postal Service Rates Are Here to Stay
In case you missed it: President and CEO of the American Consumer Institute (ACI) Steve Pociask recently examined in the Federal Times that the recent price increases by the United States Postal Service could be in place for years to come, forcing consumers to continue to empty their wallets. Pociask notes that because of the […]
ACI Joins Letter in Support of the Middle-Class Savings and Investment Act
Today, a coalition of groups, including ACI, sent a letter to members of Congress applauding their introduction of the Middle-Class Savings and Investment Act, legislation that is pro-growth and provides a necessary tax cut without increasing debt on the American economy.You can find a copy of the coalition letter here.
Menthol Bans Will Spell Financial Hit to State Coffers
Back in March, the Food and Drug Administration (FDA) announced it was planning “to prohibit menthol as a characterizing flavor in cigarettes and prohibit all characterizing flavors (other than tobacco) in cigars.” The proposal is rooted in the agency’s desire to “significantly reduce disease and death from the use of combusted tobacco products, the leading […]
Real Clear Policy: A Potential Boon for Ohio Taxpayers
A new bill introduced last month by Ohio legislators could soon make the Buckeye State the eight in the nation with no income tax. The bill, known as SB 327, would gradually phase out Ohio’s non-business income tax over the next 10 years, with a planned 10% reduction annually. Legislators hope the bill will make Ohio more competitive with other […]
Plastic Bag Restrictions Nickel and Dime Consumers
Amidst a 40-year high inflation rate that now stands at 7.9% nationally, numerous cities, states, and counties throughout the country are moving ahead with plans to introduce bans or taxes on plastic bags that will nickel and dime consumers for everyday shopping. Predicated on the notion that such restrictions are needed to help combat climate […]
ACI Files Comments with the U.S. Postal Commission Regarding Contributions to Institutional Costs
Comments of American Consumer Institute Center for Citizen Research Regarding Docket No. RM2022-2 Submitted to the United States Postal Regulatory Commission March 25, 2022 To the attention of the Commission: The American Consumer Institute (“ACI”) is appreciative of the opportunities to keep an open dialogue and submit comments, past and present, on this critical subject […]