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Biden’s Carried Interest Tax Would Force All Partnerships to Carry Big Burden “The Biden administration and its allies excel at leveraging crises to expand government,” observes my CEI colleague Wayne Crews on the Biden “infrastructure” plan. The flipside of that is that the plan would also shrink investment and innovation in the private sector through its massive tax hikes. Much has been written about the corporate and capital gains tax rates outlined in the plan being the highest at in the world. Ray Keating, chief economist of the Small Business and Entrepreneurship Council, writ...

A “storm” swept through the US government bond market on Friday, sending a key measure of long-term borrowing costs to the highest level since last February. Treasuries dropped in overnight trading after a large sale of long-dated bond futures in Asia, according to people familiar with the matter. Yields on the benchmark 10-year note, a key marker across global asset markets, jumped to 1.63 per cent, having traded around 1.53 per cent the day before. Analysts said the scale of the move underscored how jittery the $21tn market had become against the backdrop of a more robust economic rebou...

The executive order for the regulatory budget was signed in 2017 and included a “one in, two out” rule for new regulations, meaning one must be repealed for every one passed. “The American Action Forum’s report also estimated that the Trump administration added an average of $10 billion annually in regulatory costs, compared with an annual average of $111 billion during President Obama’s eight years in office,” The Times reported. © press If Biden increases regulatory up to former President Barack Obama's levels, it will be more than a 1,000 percent increase The numbers reflect...

Like last year’s Congress, the new 116 th failed ignominiously to get Donald Trump convicted of their impeachment charge. Some federal court investigations into Trump’s businesses are still ongoing, but it’s likely, though not certain, that Trump will become less and less useful for distracting voters from the Democrats’ sharp turn to the left both on domestic and foreign policy. If the Dems fail to hold on to power as they did in 2016, history will have a lot of suspects to investigate in order to explain their inability to attract voters without the bogey of Donald Trump and...

GOP Senators Ask Biden to Reconsider Canceling a Trump Regulatory Transparency Database Twenty-one Republican senators want President Joe Biden to reconsider revoking his predecessor’s executive order telling federal agencies to publish guidance on how they interpret and apply regulations. On his first day in the Oval Office, Biden revoked then-President Donald Trump’s Executive Order 13891 that required creation of a public database of agency guidance documents, based on a bill in Congress with bipartisan support, the Guidance Out of Darkness (GOOD) Act. “Without explanation, you descr...