Alex Brill Testifies before Congress on Tax Extenders
Alex Brill
June 12, 2012

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American Enterprise Institute (AEI) economist Alex Brill’s testified before the House Subcommittee on Select Revenue Measures; He argued that the case-by-case reauthorization of tax extenders (i.e., the extensions of several temporary tax breaks) has four negative consequences:

  • Tax extenders distort the fiscal budget baseline, complicating revenue and deficit forecasts
  • Tax extenders create financial reporting problems for publicly traded companies by creating discrepancies in quarterly reports
  • Tax extenders excacerbate the uncertainty facing businesses because businesses have to prepare for policies that are scheduled to expire but that will probably be extended
  • Tax extenders fail to provide oversight of tax policy, because they most often are extended without much consideration.

 

Brill concludes by explaining that the solution is to either make tax extenders permanent, or cancel them all together.


AEI research fellow Alex Brill can be reached at alex.brill@aei.org or through his research assistant at veronika.polakova@aei.org or 202.862.4880. For additional help or other media inquiries, please contact Michael Pratt at michael.pratt@aei.org or 202.862.5823.

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About the Author

 

Alex
Brill
  • Alex Brill, a former policy director and chief economist of the House Ways and Means Committee, also served on the staff of the President's Council of Economic Advisers (CEA). In Congress and at the CEA, Mr. Brill worked on a variety of economic and legislative policy issues, including dividend taxation, the alternative minimum tax, international tax policy, social security reform, defined benefit pension reform, and U.S. trade policy.

    At AEI, Mr. Brill studies the impact of tax policy in the U.S. economy; the fiscal, economic, and political consequences of stimulus legislation; health care reform, pharmaceutical spending, unemployment insurance reform; and financial innovation and technology.
  • Phone: 202-862-5931
    Email: alex.brill@aei.org

  • Assistant Info

    Name: Veronika Polakova
    Phone: 202-862-4880
    Email: veronika.polakova@aei.org
Show More | See Full Profile

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