Alan Viard was a senior economist at the Federal Reserve Bank of Dallas and an assistant professor of economics at Ohio State University prior to joining AEI. He has also worked for the U.S. Treasury Department's Office of Tax Analysis, the White House's Council of Economic Advisers and the Joint Committee on Taxation of the U.S. Congress. Viard is a frequent contributor to AEI's On the Margin column in Tax Notes. In January 2010, he was named by Tax Notes as a nominee for 2009 Tax Person of the Year. Viard is also the co-author of Progressive Consumption Taxation: The X Tax Revisited published in May 2012.
Senior Economist, Federal Reserve Bank of Dallas, 1998-2006
Visiting Scholar, Office of Tax Analysis, Treasury Department, 2005
Senior Economist, President's Council of Economic Advisers, 2003-2004
Assistant Professor of Economics, Ohio State University, 1990-98
Economist, Joint Committee on Taxation, U.S. Congress, 1992-93
The Internal Revenue Service dropped a bombshell last Friday, admitting that some of its employees had singled out Tea Party groups' 501(c)(4) applications for extra scrutiny. In responding to the scandal, the first step, of course, will be to identify and discipline those who engaged in wrongdoing.
Viard explains that PPL Corp. v. Commissioner highlights the lack of a sound policy reason for the foreign tax credit’s favorable treatment of foreign income taxes relative to other foreign taxes and nontax costs of earning foreign income.
Although the details of corporate tax reform may sound technical, the stakes are high. We can't afford to give windfalls for investments made in the past. Instead, we should reward the new investments that will help move us towards a prosperous future.
The president and Senate Democrats have consistently refused to confront the entitlement growth. House Budget Committee Chairman Paul Ryan displayed political courage by taking on runaway entitlement spending in the budget plan that he introduced on Tuesday. Mr. Ryan proved again that he is one of the few genuine leaders in the entitlement reform arena. But his plan is far from perfect.
To address the budgetary imbalances that many states face following the Great Recession, state legislators are considering reductions in individual income tax credits and deductions. Because many child and dependent care cost tax credits offer tax relief for costs of earning taxable income and thereby promote economic efficiency, we recommend that state lawmakers leave them unimpaired.
In this policy proposal - part of The Hamilton Project's 15 Ways to Rethink the Federal Budget - Alan Viard proposes to replace the mortgage interest deduction with a refundable credit as a way to reduce the artificial incentive for the construction of high-end homes by better targeting the tax breaks for housing.
Under the 2010 healthcare reform law, a 3.8 percent tax on interest, dividends, capital gains, and passive business income received by high-income households took effect on January 1. Congress named this tax the unearned income medicare contribution (UIMC), although it is widely referred to as the net investment income tax, a considerably more accurate name.