The U.S. corporate tax system introduced more than 100 years ago has not kept pace with changes to the economy. The growing role of financial innovation and the increasingly global nature of U.S. corporate operations are chief among these changes, necessitating reform. This paper proposes two reforms to the U.S. corporate tax system.
The dynamic forces of technological change, financial innovation, and globalization present new challenges for progressive taxation. This strategy paper offers several broad principles that reflect the new challenges facing our tax system in the 21st Century.
This policy memo explores some of the questions frequently raised around immigration in the United States and provides facts drawn from publicly available data sets and the academic literature.
Giovanni Peri of UC Davis proposes a practical set of immigration reforms, starting with market-based changes to employment-based visas to better link visas with the labor market and ending with broad simplification in many areas of policy.
Matthew Kahn and David Levinson propose a reorganization of our national highway infrastructure priorities to preserve, maintain, and enhance existing infrastructure and the creation of the Federal Highway Bank to meet these goals.
Eduardo Engel, Ronald Fischer, and Alexander Galetovic propose a series of best practices for state and local governments to follow when using public–private partnerships to provide infrastructure.
Potential students and their families must navigate a labyrinth of incomplete and uncertain information when deciding where to go to college, what to study, or what career to pursue, resulting in an array of poor choices being made every day. This proposal calls for the federal government to expand the types of information that are available and allow users to compare indicators like cost, financial aid, student debt, employment outcomes, and average salaries following graduation, across peer institutions.
This paper analyzes the federal student aid system and finds that the level of complexity makes it ineffective at increasing college enrollment. The paper then outlines a simplified system to address this issue.
The absence of a quality early education for many disadvantaged children represents an extraordinary waste of human potential. This paper outlines a model for helping such children achieve success through an intensive early education program.
Less educated workers often experience prolonged periods of unemployment and stagnating wages because they lack the skills necessary to compete in a global economy. In a new Hamilton Project paper, Harry J. Holzer proposes a set of competitive grants to fund education, training, and career counseling initiatives that feature private sector connections based on the experience of existing successful workforce development programs.
Education technologies hold promise for personalized learning and for building basic skills, but a fundamental obstacle remains: the effectiveness of learning technologies is rarely known. Building on the Common Core State Standards and increasing access to broadband internet, Aaron K. Chatterji of Duke University and Benjamin Jones of Northwestern University propose the establishment of a new third-party ratings organization to overcome this challenge.
The Hamilton Project explores both the condition of education in the United States and the economic evidence on several promising K-12 interventions that could improve the lives of Americans.
Because many successful charter schools represent a radical departure from traditional public schools, they often embody a black box to educational reformers. Roland Fryer of Harvard demonstrates how preliminary results in Houston and Denver public schools provide a path forward for applying effective charter school methods in traditional public schools.
Recent incentive programs demonstrate that well-designed rewards to students can improve student achievement at relatively low costs. Bradley M. Allan and Roland G. Fryer draw on field experiments to propose a set of guidelines to design a successful education incentive program. Those guidelines include paying students to perform tasks that will lead to better academic performance rather than paying them for grades and test scores alone.
While education reform is often focused on dramatic changes, Brian A. Jacob and Jonah E. Rockoff suggest that implementing managerial reforms and making sure the “trains run on time” can substantially increase student learning at modest cost. Jacob and Rockoff propose three organizational reforms to improve student performance at moderate cost: 1) Starting school later in the day for middle and high school students; 2) Shifting from separate to elementary and middle schools to K-8; 3) allow teachers to teach the same grade level for multiple years or having teachers specializing in the subject where they appear most effective.
Ted Gayer proposes three reforms addressing several problems that undermine the role played by cost-benefit analysis in environmental regulation: 1) agencies should use a check list of good empirical practices for using cost-benefit analysis; 2) regulators should presume that consumers can make their own energy-saving decisions and focus on regulations addressing harm people impose on others; and 3) a six-month, early regulatory review process should be established for particularly important regulations.
Joseph E. Aldy proposes a national clean energy standard that would lower carbon dioxide emissions by as much as 60 percent relative to 2005 levels over twenty years, streamline the fragmented regulatory system that is currently in place, generate fiscal benefits, and help fund energy innovation.
John M. Deutch proposes a series of best practices for government support of U.S. technology demonstration and a new institution, the Energy Technology Corporation, that would be responsible for managing and selecting technology demonstration projects.
Two market problems in addressing climate change are lack of private incentive to reduce greenhouse gas emissions and underinvestment by industry in R&D. This proposal addresses these issues through permanent R&D tax credits and support for research institutions.
To ensure funds are available for clean-up when natural gas accidents occur, Lucas Davis of UC Berkeley explores new approaches to bonding requirements for producers, including increasing federal minimum bond amounts and encouraging states to adopt similar minimum bond amounts for drilling on non-federal land.
Domestic natural gas is both cleaner and more affordable than oil, making it an attractive and practical alternative. In a new Hamilton Project paper, Christopher R. Knittel of MIT proposes a series of steps to promote natural gas in transportation.
Michael Levi of the Council on Foreign Relations poses a framework for regulators to determine if exporting natural gas is in the public interest, arguing the upsides of exports outweigh the costs as long as the government acts to mitigate risk.
During the last century, medical, technical, and business innovations have driven economic growth, increased wages, and improved living standards in the United States. In recent years, however, those gains have stagnated. The Hamilton Project examines the role of innovation in driving the U.S. economy, including its historical importance, the current pace of growth, and opportunities for investments to benefit America’s future.
Thomas Kalil proposes expanding the US government’s use of prizes and Advanced Market Commitments to stimulate technological innovation in space exploration, African agriculture, vaccines for diseases of the poor, energy and climate change, and learning technologies.
This paper proposes three solutions to bring jobs to distressed areas: customized job training programs for businesses and employees, advice and consulting services through the Manufacturing Extension Partnership program, and a package of grants for local services and tax breaks through a reformed and revitalized Empowerment Zone program.
This paper proposes the creation of a “mobility bank” at a government cost of less than $1 billion per year to help finance the residential moves of U.S. workers relocating either to take offered jobs or to search for work, and to help them learn more about the employment options available in other parts of the country.
This paper proposes a series of reforms to address the challenges facing Medicare’s Part D prescription drug benefit. These reforms include creating a standardized set of plans, increasing competition, and lowering prices paid for drugs.