ACCF Center for Policy Research
Research and Education
The ACCF Center for Policy Research brings together academics, policymakers, business leaders and the media to focus on important new research on economic, tax, energy and climate policies.
Reform of the U.S. Tax System
With the release of report by the President's National Commission on Fiscal Responsibility and Reform, tax reform and deficit reduction have become increasingly urgent goals for policymakers. Numerous studies over the years by the ACCF Center for Policy Research have demonstrated that the U.S. tax code hits saving and investment harder than do the tax systems of many of our key international competitors in major countries around the world. In 2010, ACCF Center for Policy Research helped make the case that maintaining low tax rates on saving and investment are vital for promoting economic growth and job creation.
Studies of the Taxation of Capital Gains, Dividends and Estates
Over the years, the ACCF Center for Policy Research has played a key role in the policy debate on the importance of low taxes on saving and investment. The Center undertakes research, funds studies by noted scholars, publishes research on the taxation of capital gains, dividends and estates and sponsors forums to promote a greater understanding of the need for tax policies that encourage saving and investment. The taxation of capital gains, dividends and estates is not only important to savers and investors but also influences overall levels of saving, work effort and investment in the U.S. economy. In 2010, the Center released two such reports emphasizing the importance of low capital gains tax rates for the future of U.S. economy. The macroeconomic analysis "Capital Gains Taxes and the Economy" authored by Dr. Allen Sinai, Chief Global Economist and President, Decision Economics, Inc. (DE) highlights how very high, or very low, individual capital gains tax rates relative to the current level can do significant damage, or provide significant help, to the economy. (See capital gains section at www.accf.org for the report) The second study conducted by Professor William M. Gentry of Williams College, "Capital Gains Taxation and Entrepreneurship," discusses several mechanisms through which capital gains taxes can affect entrepreneurs' decisions. (See capital gains section at www.accf.org for the report)
Energy/Climate Policy Research
The ACCF Center for Policy Research undertakes research and analysis of energy and climate policy issues and presents the results of the studies in a variety of forums, including testifying before Congress, briefing U.S. and international policymakers, discussing energy and climate issues on TV and radio and speaking at meetings around the country. Center research demonstrates that climate change is a global problem and meaningful reductions in greenhouse gas emissions will require the participation of developing and industrializing countries. Policies that enhance technology development and transfer are likely to be more widely accepted than those that require sharp, near-term reductions in per-capita energy use. The Center's energy and climate policy studies are quoted in respected publications in the U.S. and around the world and can be found on the desks of policymakers as well as in university libraries.
Center Outreach in the States
The American Council for Capital Formation is well known for its work on tax, economic and energy policy in the nation's capital, but the ACCF is also engaged in research and advocacy among policymakers, media and business community in states and localities beyond the beltway.
The ACCF has engaged in an aggressive state outreach program on the economic impact of near- term greenhouse gas reduction policies, like the Kerry-Lieberman bill. In conjunction with state-based think tanks, they have released multiple analyses on the economic impact of climate change policy legislation, including Michigan, Louisiana, Texas, Montana, North Dakota, Pennsylvania and Arkansas. Dr. Margo Thorning traveled to multiple states to present the economic findings in person before state policy leaders, elected officials and the business community.
Dr. Thorning participated in TV and radio news and public affairs programs around the country., to discuss the economic impact of energy and climate policy proposals Op-eds on energy and climate policy appeared in major U.S. newspapers and blogs throughout the year.
The ACCF has played a particularly active role in providing counter-messaging to state-based cap and trade efforts in California's AB 32 and Pennsylvania's Climate Impact Assessment.
Congressional leaders have also taken interest in ACCF's reports as an effective tool for communicating with their constituents back home. ACCF is also doing more in-depth research projects on the impact of climate change legislation on specific industries that are important to individual states such as oil and gas exploration and development, coal mining or other industries.
Similar to climate change policy, the issue of high capital gains tax rates was prominent in many states during the 2010 midterm elections. The ACCF reached out to the media in multiple states on the chilling effect that higher capital gains tax rates can have on state economies and job growth.
An ACCF op-ed was placed in the Los Angeles Daily News and spread across the state as the "Meg Whitman for Governor" campaign used it to bolster its campaign messages on pro-growth tax policy.