Economic Policy

Entertainment Policy

Regulating Risks: Policy Recommendations for the Sports Betting Industry

By: Mitchell Basham, Sean Golubitsky, and Quin Student

Published: Spring 2024

Abstract: The recent growth of sports betting as both a phenomenon and an industry. This policy memo works to examine the history, and development of the sports betting industry as well as explain some of the recent concerns it has wrought. At the end we provide policy recommendations that we hope will mitigate some of the growing risks.

Fiscal Policy

The CHIPS and Science Act Policy Recommendations

By: Brandon Emons

Published: Spring 2023

Abstract: Legislation with the support of both parties is rare in this polarized time. Yet, despite thispolarization the two parties have acknowledged the need for increasing semiconductor production within the United States. Asia makes up 4/5th of the world’s semiconductor production, much of which being dominated by Taiwan and China who are increasingly moving towards armed conflict. Due to this possibility of conflict in the largest producers, as well as the necessity of having semiconductors to operate technologies such as smartphones, vehicles, advanced medical care equipment and defensive systems, the two parties have united behind the need to return The United States tobeing a leader in semiconductor production as a matter of national security. A historic level of investment, totaling nearly $280 billion (about $860 per person in the US), was authorized by Congress to end these national security and supply chain concerns. Despite this majority approval for The CHIPS and Science Act, there are voices that have expressed concerns about the policy and as such these concerns must be taken into consideration to improve the policy outcomes.

The Inflation Reduction Act: A Policy Solution Looking For A Problem

By: Curran Gilster and Ethan Haqq

Published: Fall 2022

Abstract: On August 16th, President Biden signed the Inflation Reduction Act (IRA) into law. With a forty-year record high inflation rate hanging over the heads of congressional members, the legislation’s ostensible purpose is to reduce inflation. But after extensive research and analysis, the Inflation Reduction Act will not have the impact legislators intended; instead, the Inflation Reduction Act is simply a watered-down version of the Build Back Better Plan. Like Build Back Better, the Inflation Reduction Act includes provisions guaranteeing tax credits to both businesses and consumers that invest in environmentally-friendly products. The legislation also raises the corporate tax rate to 15% and directs $181 billion to the IRS for the increased taxpayer and enforcement services. Lastly, the legislation regulates prescription drug prices covered under Medicare and extends subsidies for health insurance provided under the Affordable Care Act (Congress, 2022). But these provisions will not have an impact on inflation in the short term. We recommend that the Fed issue low-interest-rate bonds to American corporations. These bonds would ensure that the economic burden that results from a contractionary monetary policy does not place a significant financial strain on middle and working-class Americans.

Labor and Employment

Examining The U.S. Minimum Wage

By: Amaya Gaines and James O’Neill

Published: Spring 2023

Abstract:The following memo aims to examine the ongoing national and state discourse regarding the U.S. minimum wage and proposals to mandate a federal increase. Recognizing current state variation in minimum wage rates, this report will consider policy alternatives that involve raising the minimum federally, while acknowledging potential economic consequences when weighed against raising the standard of living for working Americans.

The Fight Against Right To Work

By: Katherine McCormick and James O’Neill

Published: Fall 2022

Abstract: Right to work laws are laws establishing that no employee can be forced to join a union as a condition of their employment. The name “right-to-work” is an intentionally misleading term by business advocates. Despite what its name suggests, it does not guarantee anyone a right to a job. RTW laws strip unions of their power by creating a free riding problem in which all employees receive the benefits from a union without paying any dues. There are 28 states with RTW laws enacted. These laws cause unionization rates to fall significantly. Decreased union power leads to a number of other issues including a higher concentration of jobs in low-wage occupations, increased number of discrimination charges, lower rates of employee sponsored health insurance, and an average annual wage that is $1,500 lower than in N-RTW states. Even though these laws have been around since the 1940s, there is still a political fight over RTW laws. During the 2022 Midterm Election, Tennessee voters approved an amendment that codified their state’s existing RTW law into the state constitution which will make it significantly harder for voters if they ever want to repeal this RTW. This policy memo recommends supporting the PRO Act which would repeal RTW legislation on the national level and return power to unions.