On Aug 1, tariff rates are scheduled to rise to historic highs. average tariffs on women’s clothing will rise to 48 percent, wine to 20 percent, and toys to nearly 50 percent.
taxpolicycenter.org/taxvox/too-m...
From US ITC: through end of May collections were $70 billion. May alone was $24 billion, so $30 billion for June is plausible, which would make the total $100 billion through June.
New from my colleague John Wong and myself: in August tariffs on women's clothing will rise to 48%, Men's to 39%. Dolls, toys and games will be tariffed at nearly 50%.
The effect may be delayed, but eventually these rates will very likely hurt the economy
taxpolicycenter.org/taxvox/too-m...
What would the One Big Beautiful Bill Act do to charitable giving? Elena Patel and I try answer that question
www.brookings.edu/articles/one...
The 15th annual TPC-IRS conference on tax administration takes place this Thursday. It's not too late to register.
www.irs.gov/statistics/f...
When I worked at BLS, I vetted applications for this program. There was some very high quality research conducted eg eml.berkeley.edu/~enakamura/p...
Future research will now be lost and we will all be poorer for it.
Congratulations to newly elected Distinguished Fellows Susan M. Collins, Barbara M. Fraumeni, Joseph P. Newhouse, and Timothy Taylor. #econsky aeaweb.org/about-aea/ho...
More on Stantcheva, who btw is an immigrant from Bulgaria.
www.imf.org/en/Publicati....
Well, I'll try
Regardless, I wouldn't count on the uncertainty disappearing on April 2.
Continued uncertainty as to what will happen on April 2. Once these plans are announced, other nation's retaliatory tariffs will likely follow. And, of course, tariffs announced on April 2 could later change.
www.msn.com/en-us/money/...
"Liberation" from what? A strong economy and stable business environment? www.washingtonpost.com/business/202...
In the short run, Americans will face some combination of higher costs, higher unemployment, and lower profits/reduced values of retirement accounts.
In the long run, universal tariffs that try to force all economic activity to "retreat to Fortress America" will likely lead to widespread hardship.
Research with restricted-use data is more precise, powerful, and relevant. Faculty and staff will be working through the weekend to answer important research questions before we no longer can. This is not normal, necessary, or efficient.
"Quite simply and astonishingly, this is dismantling the National Park Service as we know it, ranger by ranger and brick by brick.”
This is myopic, execrable policy, which is why vast majorities of Republicans and Democrats do not want it. Poll data—> www.dataforprogress.org/blog/2025/2/...
Mathematica. Urban. Child trends. Abt. Among many others Are getting smashed. As are government analysts who often have phd or masters. The whole field is likely to get smashed. And u say will take decades to rebuild. :(. And ironically its very bipartisan. For decades. Until now.
I wrote a short blog post about the tragedy currently unfolding in the evaluation industry. Trump is destroying vital research capacity and decades of instructional knowledge for pocket change. 1/x
rooseveltinstitute.org/blog/the-irr...
This is very, very bad
You can't grow the economy by retarding economic activity
"It hurts to understand that at Woodstock or Altamont a woman could be declared uptight or a poor sport if she didn’t want to be raped. "
This is a biting overview, written at the time, of the fantastic amount of misogyny women experienced. medium.com/@julien.ribe...
110 of 363 Taxpayer Assistance Centers and 5 of 10 call centers are going to be shut down, per a meeting that just happened at the IRS.
During tax season.
Nothing has happened yet, but even unsuccessful attempts to alter government statistics would be deeply troubling.
Vance is threatening to isolate Russia from the global economy and Trump is promising to isolate the United States from the global economy.
The Tax Policy Center estimates that the change in revenues (2025-2035) from tariffs on imports from Mexico & Canada starting March 1 and on China starting Feb 4 would raise $1.2 trillion, of which $328 billion comes from tariffs on imports from China taxpolicycenter.org/model-estima...
Tariffs...
Wow, that was fast.
Irving Energy, company that provides propane/fuel oil customers in New England, says it will pass on the full 10% tariff cost to all their customers immediately
(reposting with fixed figure - meant to say 10%, not 30%)
A new analysis from the Tax Policy Center estimates that imposing a 25% tariff on imports from Canada and Mexico would reduce after-tax incomes by nearly 1% in 2026, costing the average household the equivalent of $930 in lost income.
taxpolicycenter.org/taxvox/25-pe...
