Type: Research

2017 Index of Economic Freedom

February 17, 2017
by Terry Miller and Anthony B. Kim

The Index of Economic Freedom provides compelling evidence of the wide-ranging tangible benefits of living in freer societies. Now in its 23rd edition, the Index analyzes economic policy developments in 186 countries. Countries are graded and ranked on 12 measures of economic freedom that evaluate the rule of law, government …

The Massive Federal Credit Racket

February 14, 2017
by Diane Katz

Americans collectively shoulder more than $18 trillion in debt exposure from loans, loan guarantees, and subsidized insurance provided by some 150 federal programs. There is sparse oversight of the government’s massive credit subsidies and their detrimental effects on the economy and America’s entrepreneurial spirit. Federal credit ballooned amid the 2008 …

Securities Disclosure Reform

February 13, 2017
by David Burton

The adverse impact of the current securities disclosure regime on small entrepreneurial and start-up firms, as well as on innovation, job creation, and economic growth is substantial. Moreover, disclosure requirements have become so voluminous that they obfuscate rather than inform. This Heritage Foundation Backgrounder outlines a program of interim reforms …

A Guide to Tax Reform in the 115th Congress

February 10, 2017
by David Burton

America needs tax reform. Correctly structured tax reform can make a large contribution to restoring prosperity, increasing job creation, and higher wages. It can make the tax system fairer and less burdensome. Both congressional leaders and President Trump have identified tax reform as a priority, and there is clear public …

Three Recommendations for Renegotiation NAFTA

February 6, 2017
by Bryan Riley

One of President Trump’s first actions was to announce plans to fulfill his campaign promise to renegotiate the North American Free Trade Agreement (NAFTA). The U.S. should seek to keep the parts of NAFTA that work, modernize NAFTA to take advantage of new technologies, expand NAFTA to encompass sectors that …

Curse or Blessing? How Institutions Determine Success in Resource-Rich Economies

January 11, 2017
by Peter Kaznacheev

One of the main reasons for the drop in oil prices that began in 2014 was a rapid increase in U.S. oil production—it reached the level of the other two biggest producers, Russia and Saudi Arabia, that same year. That, in turn, decreased U.S. demand for imported petroleum and hence …

Hooked on HCRA: New York’s 20-Year Health Tax Habit

January 10, 2017
by Bill Hammond

The Health Care Reform Act (HCRA) began as an effort to bring market-driven change and efficiency to New York’s hospital industry, but has evolved into little more than a mechanism for generating revenue. HCRA’s combined surcharges on health insurance and cigarettes have nearly tripled in size over the past 20 …

Poverty, Hunger, and US Agricultural Policy: Do Farm Programs Affect the Nutrition of Poor Americans?

January 9, 2017
by Joseph W. Glauber, Daniel A. Sumner, and Parke E. Wilde

Farm subsidy programs have little impact on food consumption, food security, or nutrition in the United States, despite occasional claims to the contrary. The modern era of federal farm commodity subsidies began with the New Deal more than 80 years ago. Farm subsidies and related land retirements, market regulations, and …

Responding to the Chinese Space Challenge

January 6, 2017
by Dean Cheng

It is clear that China will be pressing forward with the development of its space capabilities, including new satellites, launchers, and facilities. Even more important, however, Beijing clearly views space as one of the many tools it can and does employ to further its overall political goals. For the United …

Why the Repeal of ObamaCare Means a Giant Tax Cut for the Middle Class

January 6, 2017
by Grover Norquist

By passing legislation repealing ObamaCare through budget reconciliation, lawmakers have an opportunity to remove nearly 20 taxes which will save taxpayers more than one trillion dollars over the next decade. Repealing these taxes is a huge win for middle class taxpayers, who were hit with an avalanche of tax increases …