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December 10, 2024
Abstract We review evidence on the effectiveness of the minimum wage versus in-work benefit policies in reducing poverty in OECD countries. The most credible evidence suggests that raising the minimum wage is an ineffective policy tool for reducing poverty. On net, minimum wage increases tend to redistribute rather than reduce poverty. In contrast, government subsidies…
July 23, 2024
Key Points Read the PDF. The Tax Cuts and Jobs Act (TCJA) of 2017 included some of the most far-reaching changes to the US income tax code in a generation. In addition to reducing statutory tax rates for individuals and corporations, the law adjusted the tax base. Among its most significant changes to the individual…