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OpenMarket: September 2014

  • Dueling Ex-Im Commentary

    September 11, 2014

    A vote on the Continuing Resolution, which includes the controversial Export-Import Bank reauthorization was originally scheduled for today, but has been pushed back to next week. So the combat continues over how long the Ex-Im reauthorization will last, and what other conditions might included as part of the deal. In today’s Washington Times, National Association of Manufacturers President Jay Timmons and I have dueling op-eds, with Timmons favoring reauthorizing Ex-Im, and me wanting to end it. The Wall Street Journal also weighed in with an editorial this morning,...

  • Federal Obamacare Officials Once Recognized the Falsity of Their Current Argument about Tax Credits

    September 10, 2014

    ​The Obama administration has claimed that despite recurring language in the Obamacare law limiting tax credits to people who buy insurance on an “exchange established by the state,” such taxpayer subsidies are also available to people who buy insurance on the federal exchange, Healthcare.gov.  (The availability of tax credits triggers employer mandates and penalties in any state where the tax credits are available, and the tax credits contain work disincentives and ...

  • User Fees Are Not Taxes: The Case for PFCs

    September 9, 2014

    I've noted in the past the natural appeal passenger facility charges (PFCs) should have with fiscal conservatives. These are the user fees airports are allowed to charge passengers leaving their airports. Unlike federal Airport Improvement Program grants (funded via an array of taxes through the Airport and Airway Trust Fund) and local debt financing, PFCs offer a fair, transparent, and direct way for users to pay for the infrastructure investments from which they benefit. The monies collected by the airports are kept by the airports, who then use the funds to make Federal Aviation Administration-approved airport improvements. There are no Washington...

  • Don’t Tie Ex-Im Renewal to Government Shutdown

    September 9, 2014

    It appears Congress will decide the Export-Import Bank’s short-term fate this week. There are several bills with different reauthorization terms, and Rep. Justin Amash and Sen. Mike Lee even have a bill that would shutter the bank altogether. None of the bills have made it out of the House Financial Services Committee, which is chaired by Rep. Jeb Hensarling, who opposes the bank. What will likely happen instead is that Ex-Im reauthorization will be included in a Continuing Resolution (CR), which Congress must pass by September 30 to avoid a government shutdown.

    The current battle isn’t whether Ex-Im will be reauthorized, it is how long the reauthorization will last.  There are two...

  • Nationalizing Bitcoin?

    September 9, 2014

    The phrase “if you can’t beat them, join them” seems so applicable in light of the Commonwealth of Dominica announcing plans to distribute bitcoins to all of its citizens. This is a wonderful attempt to integrate people into a burgeoning market. The timing could not have been better, as Ecuador also announced it will introduce its own cryptocurrency. The key difference between Ecuador and Dominica’s plan is that Ecuador plans to implement its currency through its central bank, whereas Dominica plans to disperse bitcoins directly to its citizens. Perhaps fearing competition, Ecuador is also...

  • Western Water and California Drought, Part 2: No Need for Malthusian Despair

    September 9, 2014

    Well, some good news—it’s raining in Los Angeles.

    Western droughts combined with questionable water access policies spawn water crises that unfortunately are not unique to the American west and California in particular.

    Rather, water access issues are globally contentious. A Wall Street Journal book review on the “unhappy descent” of Turkey’s Meander River invoked common laments that: 

    In North America, so much water is taken out of the Colorado that it no longer reaches the sea. Nor does the Rio Grande. Or the River Jordan. Or China’s Yellow River.

    Access to water in times of plenty and in times of drought...

  • Redman v. RadioShack, Inc. / oral argument today

    September 8, 2014
    As we discussed earlier, class counsel agreed to a settlement over RadioShack credit-card receipt legality that would have paid themselves $1 million, but the 16-million-member class 83 thousand coupons with a face value of $10. The district court approved the settlement because (1) it held the $2.25 million spent to distribute those coupons was a class benefit and (2) the coupons weren't "coupons." Oral argument is scheduled this morning in the Seventh Circuit. Some time this afternoon or tomorrow, a recording of the argument will be available online.

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  • CEI’s Battered Business Bureau: The Week in Regulation

    September 8, 2014

    It was a short week due to the Labor Day holiday, but agencies still managed to issue more than 60 new regulations and push the Federal Register over the 53,000-page mark.

  • IRS Plays Favorites

    September 5, 2014
    The Daily Caller News Foundation has found an email from Lois Lerner which contrasts her apathy towards misreported political spending by labor unions with her intense scrutiny of conservative groups. The finding not only shows how the bureaucracy plays favorites, but how labor unions get special treatment from the government.
  • Ted Frank speaking in Trenton September 16

    September 5, 2014

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