CEI Today: CBO immigration analysis, a tax on stock trades, and EPA assault on state sovereignty
IMMIGRATION - DAVID BIER
The Congressional Budget Office released an updated estimate of how the Senate immigration bill (S. 744) will affect flows of illegal immigration. The report concluded “the net inflow would be reduced by between one third and one-half compared with the projected net inflow under current law.”
David Bier, Immigration Policy Analyst at the Competitive Enterprise Institute, called the news progress, but offered two suggestions to further improve illegal immigration. “First, this report shows why Congress should create a system that automatically increases the number of guest work visas in any year in which border crossings increase,” Bier said. “More legal immigration will take pressure off the border and make other amnesties unnecessary."
TAX ON STOCK TRADES - JOHN BERLAU
Supporters of the Marketplace Fairness Act, which the Senate passed on May 6 by a 69-27 vote, claim that online retailers enjoy an unfair advantage over their brick-and-mortar competitors. The bill, they maintain, addresses this imbalance by allowing states and localities to require “remote sellers” to collect taxes for “sales” to their residents.
However, the bill is silent on the particular products and services of “sellers” and “sales” it covers. Thus, it could open the door for state and local governments to tax financial transactions they deem as “sales” on businesses throughout the country.
EPA vs THE STATES - WILLIAM YEATMAN
William Yeatman discusses his new study, “The U.S. Environmental Protection Agency’s Assault on State Sovereignty.”