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July 2, 2025

Congress Could Rein In Graduate Student Loans

Congress is on the verge of eliminating Grad PLUS—the program which extends effectively unlimited taxpayer-funded loans to graduate students—and imposing caps on graduate loans for the first time since 2006. On Tuesday, the Senate passed a budget reconciliation bill ending the program, which has fueled tuition hikes, exploded student debt, and padded the budgets of wealthy universities….

July 1, 2025

Irresistible Force, Meet the Immovable Object

Some important new numbers are out on the future of the US labor supply, highlighting how a confluence of factors—demographic aging, economic growth, and restrictive immigration policy—are conspiring to create historically tight labor markets in the coming years. The impacts of these trends on businesses and consumers will be pervasive, difficult to manage, and annoying. Americans, I…

July 1, 2025

More Information Sharing Means Fewer Taxpayer Losses to Fraud

Last month, Rep. Lloyd Doggett (D-TX) introduced a resolution of inquiry objecting to the Trump administration’s development of a “centralized database” that “compiles American citizens’ personal information across federal agencies and departments.” The resolution states that personal information includes “confidential taxpayer, identity, wage, child support, bank account, student loan, health, medical, financial, or other information.” Left unsaid…

June 30, 2025

America’s Six Million Home Shortage: Why California Is at the Epicenter

A growing body of research estimates that the US faces a severe housing shortage, with missing homes numbering between 3.8 million and 8.2 million. Using the midpoint—approximately six million missing homes—new AEI Housing Center analysis shows where this shortage is most acute and why about two million missing homes can be traced back to California and its neighbors….

June 26, 2025

Does Building Light-Touch Density Housing Lower Single-Family Home Values? Evidence from Seattle, WA and Charlotte, NC

Summary: Opponents of Light-touch Density (LTD) infill argue that it will lead to outright home price declines or, at the very least, slower home price appreciation (HPA). However, evidence from Charlotte and Seattle shows that the construction of LTD housing—such as duplexes and townhomes—does not adversely impact HPA of single-family detached (SFD) homes in the…

June 25, 2025

De-Skilling the Knowledge Economy

Key Points Introduction As David Veldran and I examined in our 2024 report, The Age of Uncertainty—and Opportunity: Work in the Age of AI, forecasts of how artificial intelligence will affect jobs and skills are remarkably uneven and often contradictory.1 This is less a matter of poor methodologies or lack of investigation than it is…

June 25, 2025

Yes, there’s still a shared American story. If we’re to live in freedom, we need to embrace and defend it.

A year and a half ago, I wrote an essay in The Social Breakdown arguing the need for a revived civic national story and the existential consequences for the country not having one. Even more so today, protecting our liberal democratic experiment requires that Americans set aside their partisan or policy differences. But we need…

June 24, 2025

Public Housing and Rental Subsidies

Since the 1930s, the federal government has subsidized local housing projects aimed at uplifting the poor. The specific policies have evolved, but the theory has been that federal aid is needed because the states cannot solve their own housing problems and private markets fail to invest in affordable housing. Federal housing efforts are led by…

June 24, 2025

Putting the CBO’s Estimates of SNAP’s Work Requirement into Context

Recent proposals to expand the work requirement in the Supplemental Nutrition Assistance Program (SNAP) have been almost universally portrayed as a punitive effort to push low-income recipients off the program. Indeed, the Congressional Budget Office (CBO) estimated that over 3 million people will leave SNAP due to the work requirement expansions. However, it is important…

June 24, 2025

Why Do Republicans Support the Low-Income Housing Tax Credit?

President Donald Trump’s “big, beautiful bill” aims to avert the tax increases that would result from the expiration of the 2017 Tax Cuts and Jobs Act, and it’s drawn criticism for not doing enough to reduce the debt or deficit. Earlier in June, The Washington Post reported on publicly funded homes in some cities costing taxpayers more than…