CEI Today: Beer Excise Tax, Janet Yellen, and Obamacare

Friday, November 1, 2013
In the News Today


CEI OnPoint: BEER and Small BREW Can Be Good for You

America’s beer industry directly supports over 1 million jobs and nearly $100 billion in economic activity. And over the last two decades, the craft beer market has seen explosive growth. However, the entire beer industry still faces the burden of a specifically targeted excise tax placed on it at the repeal of Prohibition in large part to discourage beer consumption. Today, many politicians, brewers, trade groups, and consumers are seeking relief from the excise tax. Two competing bills currently pending in Congress, creatively titled the BEER Act and the Small BREW Act, would reduce the tax in different ways. While neither bill is perfect, enacting either one would be a victory for the beer industry and consumers. However, for long-term reform the best course of action is for Congress to repeal the excise tax altogether. > Read more

> Interview Michelle Minton



American Spectator:
Questions for Janet Yellen

Chairman of the Federal Reserve is arguably the most important unelected office in America. It wields enormous influence over the financial health of the nation, and indeed the world. So it is incumbent upon members of the Senate Banking Committee, which could hold confirmation hearings before the end of November, to ask the right questions of the President’s Fed nominee, Janet Yellen. Professor Yellen is clearly qualified, having held the number two position at the Fed under current chairman Ben Bernanke, and has previously chaired the San Francisco Federal Reserve. What is in question is the direction she will take monetary policy during the next four years. > Read more

> Interview authors


Chicago Tribune: A Third Challenge To The IRS's Illegal ObamaCare Taxes Proceeds To The Merits

This morning in Richmond, federal district judge James Spencer heard oral arguments on theplaintiffs' motion for a preliminary injunction that would block the IRS rule that attempts to offer unauthorized subsidies through federal Exchanges. Spencer denied the motion, but indicated that the case would proceed to the merits, with all briefs to be filed by December 6. That makes King v. Sebelius the third challenge to the IRS's illegal taxes that will reach the merits. The first two are Pruitt v. Sebelius andHalbig v. Sebelius. As in Halbig,it appears possible we could get a ruling in Kingbefore the first of the year.

For more, see the Competitive Enterprise Institute's press release on today's oral arguments, and their page devoted to Halbig and King, which includes court filings. > Read more


> Interview Sam Kazman




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CEI President Lawson Bader

Alarmism is dangerous


CEI Podcast for Oct. 30, 2013: Bringing Transparency to the Consumer Financial Protection Bureau

George Mason University law professor and Mercatus Center senior scholar Todd Zywicki discusses his paper, “The Consumer Financial Protection Bureau: Savior or Menace?”