U.S. House of Representatives hearing on tax policy impacts on the commercial application of renewable energy technology

The following is a summary highlighting testimony by AEI Director of Economic Policy Studies Kevin Hassett to the Joint Economic Committee at a hearing entitled "How the Taxation of Capital Affects Growth and Employment."

This nation employs several methods for taxing capital income, both at the individual and the corporate level.  There is a massive economic literature that documents strong theoretical and empirical support for the United States to reduce its capital taxes

The financial crisis of 2007-09 cost taxpayers in the United States and Europe the equivalent of some 25 percent of world GDP in guarantees and subsidies tomaintain financial stability. This has prompted a major rethinking by governments, financial regulators and central banks of how financial institutions and markets should be supervised and regulated.

The world—not just the United States—felt the pain of the 2008 financial crisis, and governments rushed to change the way the financial industry was regulated. While from Washington, DC, the Shadow Financial Regulatory Committee has been tracking the progress of financial regulation in America, shadow financial committees around the world have been following regional developments.

This statement is available here as an Adobe PDF.

The Eurozone Crisis: A Roadmap for Urgent and Decisive ActionWhile European leaders have been meeting in Brussels to address the crisis in the eurozone,...

The United States should choose its policies to best further the national interest. That requires a compound calculation of both the gains available from a change in Chinese policy and the probability of U.S. initiatives effecting such a change.