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Policy Areas


Economic PolicyEconomic Policy

For nearly thirty years, the ACCF and its research affiliate, the ACCF Center for Policy Research, have brought the message to U.S. and international policymakers, the media, and the public that a nation's strength and stability depend upon well-thought-out economic, regulatory, and environmental policies to promote capital formation, economic growth, and a higher standard of living for all.


  • Recent Articles
  • How to Let Too-Big-To-Fail Banks Fail
    May 16, 2013 | Wall Street Journal | Op-Ed

    ACCF Scholar John Taylor says Dodd-Frank does not end the threat of taxpayer bailouts. A reform to the bankruptcy code will do the trick.

  • What’s Stopping Europe?
    April 16, 2013 | Project Syndicate | News

    ACCF Scholar Allan Meltzer discusses why European economy stalls and drifts.

  • How the House Budget Would Boost the Economy
    March 19, 2013 | Wall Street Journal | Op-Ed

    ACCF Scholar John Taylor says slowing federal spending will alleviate fears of higher future taxes, spurring more investment and consumption.

  • John Taylor: Fed Policy Is a Drag on the Economy
    January 29, 2013 | The Wall Street Journal | News

    As they meet this week, Federal Reserve Chairman Ben Bernanke and his colleagues will be looking at an economic recovery that has been far weaker than expected. Early in 2010 they predicted that growth in 2012 would be a robust 4%. It turned out to be a disappointing 2%. And as the recovery fell short [...]

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  • Research Publications & Testimony
  • Special Report: A Higher Tax Rate on Dividends: Would it Impact U.S. Economic Recovery and Capital Formation?
    October 1, 2012 | Publications

    The ACCF CPR presents this Special Report to help policymakers, the public and the media understand the short and long run consequences of raising tax rates on dividends.

  • The Impact of Raising Tax Rates on Individual Capital Gains
    September 20, 2012 | Publications

    Background

    Even though the recession has been officially over since 2009, the U.S. economy continues to struggle with high unemployment and sluggish economic growth. Decision makers face major uncertainties, including the scheduled expiration of decade old tax reductions for families and individuals at all income levels, the so-called “Bush Tax Cuts.” One component of the expiring tax cuts is the individual capital gains tax rate. Without any action, the top individual capital gains tax rate will increase to 20% from the current top rate of 15%. As a result of the recently passed 2010 health care legislation, there will be an additional 3.8% tax on unearned income beginning in 2013. Coupled with the 2013 scheduled restoration of the “Pease Limitation” on itemized deductions (which will impose roughly a 1.2% marginal rate on capital gains), individuals will face a top federal rate on capital gains of 25%. This sharp 67% increase on investment income will no doubt have negative consequences on an already struggling U.S. economy. This testimony presents evidence on the impact of capital gains taxes on entrepreneurial activity, discusses how the U.S. tax rate compares to our trading partners and how letting the tax rate rise will impact the overall U.S. economy and job growth.

  • Tax Reform, U.S. Investment and Job Growth: Does Cash Flow Matter?
    July 27, 2012 | Congressional Testimony | Publications

    Dr. Margo Thorning submits testimony for the hearing on “Manufacturing and Tax Reform” by the U.S. House Committee on Ways and Means

  • The Fiscal Cliff: Impact on U.S. Economy and Employment if Bush Tax Cuts Expire
    June 14, 2012 | Publications

    As the debate about how to revive strong U.S. economic and job growth continues, policymakers must confront a host of budget and tax policy decisions. One of the key issues policymakers must decide is the fate of the reductions in tax rates on income, capital gains and dividends which were enacted during the 2001-2005 period and then extended for the 2011-2012 period. The ACCF presents this summary of a new macroeconomic analysis by Dr. Allen Sinai, Chief Global Economist and President of Decision Economics, Inc to help policymakers, the public and the media understand the consequences of raising tax rates in the current economic environment.

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Energy PolicyEnergy and Climate Change Policy

ACCF is an internationally recognized economic authority on energy and environmental policy issues. Because energy use and economic growth go hand in hand, policymakers should develop a flexible, long-term approach to reducing the growth of greenhouse gases (GHGs). This will require a global effort based on technological innovation and technology transfer to developing countries where GHG emissions growth is most rapid. In addition, U.S. tax policies should be reformed to reduce the cost of capital for new energy efficient and pollution control technologies.


  • Related Articles
  • Beware Tax Reform That Raises Taxes on Capital
    April 4, 2013 | Wall Street Journal | Op-Ed

    Proposals that would increase the tax burden on capital-intensive industries—which are contributing to U.S. economic growth and employment—should be viewed with caution. As the saying goes, if you tax something, you’ll get less of it.

  • ACCF Scholar: Liquefied Natural Gas Exports are an Opportunity for America
    March 4, 2013 | Peterson Institute for International Economics | News

    by Gary Clyde Hufbauer, Peterson Institute for International Economics and Allie E. Bagnall, Peterson Institute for International Economics and Julia Muir, Peterson Institute for International Economics February 2013 Prohibitions or restrictions on US exports of liquefied natural gas (LNG) are a bad idea. LNG exports will deliver economic benefits to the US economy. The US Department of Energy [...]

  • Op-Ed: LNG exports a boon for America
    February 14, 2013 | Providence Journal | Op-Ed

    With one decision, policymakers in Washington could grow our economy by nearly $50 billion over the next seven years. The question before them: whether to continue blocking the export of liquefied natural gas (LNG). The United States is in the midst of an energy boom. Because of improved technology, vast reserves of natural gas once [...]

  • Dubious Campaign Against Liquefied Natural Gas Exports Ignores Fundamental Market and Economic Benefits of Free Trade
    January 11, 2013 | Press Release

    Washington – A dubious campaign by America’s Energy Advantage seeking to restrict expansion of liquefied natural gas (LNG) exports ignores fundamental economic and market facts, the American Council for Capital Formation (ACCF) said today. America’s Energy Advantage, a coalition backed by Dow Chemical and other large domestic natural gas users, relies on a gross overestimation [...]

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Tax Policy Tax Policy

For three decades, the American Council for Capital Formation has been a leading and effective advocate of sound economic policies to promote sustained economic growth, job creation, and international competitiveness. With its bipartisan approach, the breadth and diversity of its support in the business community, and long experience working with policymakers and the media, the ACCF has been instrumental in focusing attention on the need for economic policies to enhance capital formation.


  • Related Articles
  • Bloomfield: Tax Overhaul — Triple Bypass or Triage?
    April 26, 2013 | Roll Call | Op-Ed

    For the first time in three decades, Congress is scrubbing up to perform surgery on our unfair, incomprehensible and anti-economic growth tax code. President Barack Obama has made his proposals. The chairmen of the two tax-writing committees in Congress, Rep. Dave Camp, R-Mich., and Sen.Max Baucus, D-Mont., titled a recent high-profile joint op-ed, “Tax Reform Is [...]

  • Tax benefits of retirement savings in jeopardy
    April 19, 2013 | MarketWatch | Op-Ed

    By Pinar Cebi Wilber WASHINGTON (MarketWatch) — In an effort to slow and reverse our spiraling national deficit and debt, lawmakers will likely put all tax expenditures (tax code spending via exemptions, deductions, or credits to select groups or specific activities) under close scrutiny. Among those on the chopping block are tax-qualified retirement plans, and [...]

  • Will We See A Fully Monty On Tax Reform?
    April 4, 2013 | Forbes | Op-Ed

    Full Monty or Chippendale tax reform in 2013? At a minimum, Congress for the first time in three decades will produce fundamental rewrites of our tax code.

  • Beware Tax Reform That Raises Taxes on Capital
    | Wall Street Journal | Op-Ed

    Proposals that would increase the tax burden on capital-intensive industries—which are contributing to U.S. economic growth and employment—should be viewed with caution. As the saying goes, if you tax something, you’ll get less of it.

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Capital GainsCapital Gains Tax Policy

In 1978, ACCF was instrumental in helping turn a looming hike on the capital gains tax into a dramatic tax cut. Today, thirty years later, ACCF continues to provide expert research and a bipartisan effort to maintain low rates on capital gains taxes.


  • Related Articles
  • Bloomfield: Tax Overhaul — Triple Bypass or Triage?
    April 26, 2013 | Roll Call | Op-Ed

    For the first time in three decades, Congress is scrubbing up to perform surgery on our unfair, incomprehensible and anti-economic growth tax code. President Barack Obama has made his proposals. The chairmen of the two tax-writing committees in Congress, Rep. Dave Camp, R-Mich., and Sen.Max Baucus, D-Mont., titled a recent high-profile joint op-ed, “Tax Reform Is [...]

  • Will We See A Fully Monty On Tax Reform?
    April 4, 2013 | Forbes | Op-Ed

    Full Monty or Chippendale tax reform in 2013? At a minimum, Congress for the first time in three decades will produce fundamental rewrites of our tax code.

  • Fiscal cliff could stall Arizona’s entrepreneurial leadership
    December 21, 2012 | Inside Tucson Business | News

    As the fiscal cliff discussion takes Washington, D.C., by storm, a number of state governors paid a visit to the White House to bring their perspectives on the complicated negotiations. The one apparent theme of the visit was a plea for a solution to the fiscal cliff debacle. This is for a good reason. Failure [...]

  • Don’t push Colorado’s new job growth over the fiscal cliff
    December 16, 2012 | Boulder Daily Camera | News

    Colorado residents got good news this week in the form of an encouraging state economic forecast. According to the 2013 Colorado Business Outlook, conducted by the University of Colorado Boulder’s Leeds School of Business, Colorado’s GDP is expected to grow by 2.1 percent in 2013. The report also forecasts broad-based job growth in the state, [...]

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  • Research Publications & Testimony
  • Update: State and Federal Individual Capital Gains Tax Rates – How High Could They Go?
    December 4, 2012 | Publications

    As the debate on federal tax reform continues, the ACCF Center for Policy Research (CPR) presents this Special Report to further the debate and highlight the effect of increased federal tax rates on long-term individual capital gains tax rates when both the federal, state and, in some cases, local tax rates are combined. Long-term individual [...]

  • The Impact of Raising Tax Rates on Individual Capital Gains
    September 20, 2012 | Publications

    Background

    Even though the recession has been officially over since 2009, the U.S. economy continues to struggle with high unemployment and sluggish economic growth. Decision makers face major uncertainties, including the scheduled expiration of decade old tax reductions for families and individuals at all income levels, the so-called “Bush Tax Cuts.” One component of the expiring tax cuts is the individual capital gains tax rate. Without any action, the top individual capital gains tax rate will increase to 20% from the current top rate of 15%. As a result of the recently passed 2010 health care legislation, there will be an additional 3.8% tax on unearned income beginning in 2013. Coupled with the 2013 scheduled restoration of the “Pease Limitation” on itemized deductions (which will impose roughly a 1.2% marginal rate on capital gains), individuals will face a top federal rate on capital gains of 25%. This sharp 67% increase on investment income will no doubt have negative consequences on an already struggling U.S. economy. This testimony presents evidence on the impact of capital gains taxes on entrepreneurial activity, discusses how the U.S. tax rate compares to our trading partners and how letting the tax rate rise will impact the overall U.S. economy and job growth.

  • The Fiscal Cliff: Impact on U.S. Economy and Employment if Bush Tax Cuts Expire
    June 14, 2012 | Publications

    As the debate about how to revive strong U.S. economic and job growth continues, policymakers must confront a host of budget and tax policy decisions. One of the key issues policymakers must decide is the fate of the reductions in tax rates on income, capital gains and dividends which were enacted during the 2001-2005 period and then extended for the 2011-2012 period. The ACCF presents this summary of a new macroeconomic analysis by Dr. Allen Sinai, Chief Global Economist and President of Decision Economics, Inc to help policymakers, the public and the media understand the consequences of raising tax rates in the current economic environment.

  • The Buffett Rule: 5 Things You Need to Know
    April 16, 2012 | Publications

    The Senate recently rejected “The Buffett Rule.”  However, Senate leaders and President Obama pledge to continue to make it a defining political issue this election season.  Economic research has long shown that tax hikes on savings and investment can have adverse impacts on entrepreneurship, job and economic growth and U.S. competitiveness.  Here are 5 important [...]

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