Washington Wire
US Best for Workers
If you’re looking for a Canadian-themed joke this Labor Day, look past Ryan Reynolds blaming the 1980s on the Cuban Missile Crisis — was he drunk? — and focus instead on senatorial candidate Abdul El-Sayed’s claim that if “you want to achieve the American Dream, well, you should move to Canada because it’s twice as likely there.”
That argument is so laughably wrong, even the Canadians disagree with it. A 2024 study by …
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The Expense Cycle
Critics of last year’s tax bill are citing the decline in corporate tax receipts as evidence that the bill was too generous to Wall Street. True, corporate tax collections are down…
Receipts from corporate income taxes totaled $452 billion in 2025, which was lower than their 2024 total of $530 billion…CBO expects corporate tax receipts to decline further in 2026, to $404 billion (or 1.3 percent of GDP).
…even as corporate profits are up:
Profits …
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CTA Deceptions
The wild-eyed response to FinCEN’s recent rollback of the Corporate Transparency Act (CTA) is just the latest example of how some in the media promote an activist agenda at the expense of Main Street.
For those not paying attention, the CTA was a big swing and a miss in the campaign to crack down on the use of shell companies that engage in illicit finance. The idea was to collect better information to reveal the real …
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Setting the Record Straight
This week the Treasury Department took the important step of finalizing its Corporate Transparency Act rules. While the move was cheered by the broader Main Street business community, a small contingent on social media has been spinning it as a “win for criminals.”
For example, here’s the start of a multi-part thread from former Congressman Tom Malinowski that’s laden with falsehoods:
The reality is that the …
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Revisiting the Myth of Corporate Decline
In 2019 we dismantled the claim that the corporate sector was withering away and that those pesky pass-throughs were to blame. Seven years on, the numbers have only made our case stronger.
Corporate profits hit $4.42 trillion last quarter on an annualized basis, while their after-tax profits reached 12.4 percent of GDP, the second-highest reading in decades. C corps aren’t going away; they are consolidating and getting larger.
Which is why we continue to …
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Backdoor BOI
Yesterday’s final rule eliminating BOI reporting requirements for US persons or entities is a big win, but the fight over the Corporate Transparency Act is far from settled. Congress is considering legislation that would provide permanent relief for Main Street, while the Supreme Court will decide soon whether to hear a constitutional challenge to the law.
On the other hand, proponents of this unprecedented information grab have not abandoned their cause and appear …
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Big Win on CTA!
Good news for the lazy days of summer! The Trump Treasury Department has finalized its revised beneficial ownership information (BOI) reporting rule and committed to permanently deleting the sensitive personal data prematurely collected from millions of U.S. business owners. This is a significant victory for Main Street and the latest chapter in our years-long fight against the Corporate Transparency Act.
Treasury estimates the rule will generate $9 billion in annual compliance savings. That’s a huge …
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Who You Calling Progressive?
One of the of the more entertaining aspects of today’s election news is the insistence on branding Abdul El-Sayed, the hard-left winner of yesterday’s Michigan Democratic Senate primary, a mere “progressive.” Meanwhile, his more traditionally progressive opponent, Haley Stevens, has been recast as a “moderate.” More moderate than El-Sayed, certainly, but…
With that as a conversation starter, here are some take-aways from yesterday’s remarkable primary election.
The Goal Posts Have Shifted
The most obvious take-away is how the …
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