Economic 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.

Research Publications & Testimony

  • Special Report: Trade Promotion Authority – American Economy & Trade

    The President’s 2014 Trade Policy Agenda stresses the critical role of trade and investment in the Administration’s strategy to create jobs, promote growth and strengthen the middle class. However, Congress has failed to grant Trade Promotion Authority (TPA) to the Executive Branch since the last one expired on July 1, 2007. This special report discusses […]

  • Special Report: A Higher Tax Rate on Dividends: Would it Impact U.S. Economic Recovery and Capital Formation?

    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

    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?

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

Recent Articles

  • Mark Bloomfield: Six Lessons on Tax Reform Past

    Mark Bloomfield offers thoughts on tax reform, income inequality and more.

  • Remember FDR’s Trade Legacy

    With reauthorization for the Export-Import Bank still pending and the Trans-Pacific Partnership a distant hope, one economist calls on history as a model.

  • One Way to Fix the Corporate Tax: Repeal It

    If tax inversions are a problem, as arguably they are, the blame lies not with business leaders who are doing their best to do their jobs, but rather with the lawmakers who have failed to do the same. The writers of the tax code have given us a system that is deeply flawed in many ways, especially as it applies to businesses.

  • Special Report: Trade Promotion Authority – American Economy & Trade

    The President’s 2014 Trade Policy Agenda stresses the critical role of trade and investment in the Administration’s strategy to create jobs, promote growth and strengthen the middle class. However, Congress has failed to grant Trade Promotion Authority (TPA) to the Executive Branch since the last one expired on July 1, 2007. This special report discusses […]

Energy 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.

Research Publications & Testimony

Recent Articles

  • Margo Thorning on The Jim Bohannon Radio Show

    On the nationally syndicated Jim Bohannon Radio Show, Dr. Margo Thorning reviews the history behind the 1970s era ban on crude oil exports from the U.S. Thorning notes that today, gasoline and other refined product exports have increased by over 200 percent since 2000, to more than 2.7 million barrels per day. Unfortunately, crude oil […]

  • Lift oil export ban before ‘day of reckoning’

    Four decades have passed since the oil crisis of 1973, when OPEC’s embargo generated long gas lines and high tensions here in the U.S. In response to this predicament, Congress enacted the Energy Policy and Conservation Act of 1975 (EPCA), which made it illegal to export U.S. crude oil except in certain limited circumstances. In […]

  • Divestment is a Distraction to Better Policies

    Environmentalists from all over the country gathered last month in New York to witness the United Nations’ summit on climate change. In the midst of the anticipation, one thing has become clear: in order to find the most effective strategies for change, leaders must sift through the commotion and the often misguided rhetoric that has […]

  • Time to fire up boiler$, put cheaper fuel in pipeline

    Winter is coming. Northeasterners are bracing for what promises to be another brutally cold winter with below-average temperatures. This will be especially problematic with high home heating bills as a result of the region’s excessive energy costs. New England continues to suffer from extraordinarily high energy prices that exceed the rest of the nation, with […]

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.

Research Publications & Testimony

Recent Articles

  • Mark Bloomfield: Six Lessons on Tax Reform Past

    Mark Bloomfield offers thoughts on tax reform, income inequality and more.

  • Thorning Talks Inversion and Tax Policy on WOSU in Columbus

    On September 23rd, Dr. Margo Thorning was a featured guest on the WOSU NPR Radio Show “All Sides” with Ann Fisher in Columbus, Ohio.  Thorning discussed the inversion, corporate tax rates and several other tax issues during the program. Listen Here:

  • One Way to Fix the Corporate Tax: Repeal It

    If tax inversions are a problem, as arguably they are, the blame lies not with business leaders who are doing their best to do their jobs, but rather with the lawmakers who have failed to do the same. The writers of the tax code have given us a system that is deeply flawed in many ways, especially as it applies to businesses.

  • Tax Reform and Your Small Business

    Every couple of years utterances of the implementation of a flat tax emerge. In fact, in a tax seminar during the early 1990s, a well-revered speaker made one of those mark-my-words predictions that the flat tax would be operational within the next few years. Twenty four years later, there’s no flat tax. In fact, our […]

Capital 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.

Research Publications & Testimony

  • Update: State and Federal Individual Capital Gains Tax Rates – How High Could They Go?

    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

    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

    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

    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 […]

Recent Articles

  • Piketty on the 2014 ballot?

    Election 2014 is upon us; all eyes are on targeted races around the country and the balance of power in Washington. One young French economist may shape outcomes on Nov. 4 and beyond more than any other candidate: Thomas Piketty. Since earlier this year, Piketty has made tremendous waves as a critic of free markets […]

  • Tax Reform and Your Small Business

    Every couple of years utterances of the implementation of a flat tax emerge. In fact, in a tax seminar during the early 1990s, a well-revered speaker made one of those mark-my-words predictions that the flat tax would be operational within the next few years. Twenty four years later, there’s no flat tax. In fact, our […]

  • They Said What?

    Barron’s asked four experts on the economy, politics, and the markets what 2014′s biggest surprise will be. With the economy improving and stocks routinely hitting new highs, we asked: What could be the biggest surprise of 2014? Mark Bloomfield President, American Council for Capital Formation An unexpected event shocks financial markets, causing a drop of […]

  • A state tax rate still too high

    Taxing consumption rather than saving and investment can be an important policy lever for achieving stronger economic growth, funding important spending priorities, and achieving higher living standards for all New Yorkers.