Dr. Mark Duggan and Dr. Andrew Johnston Discuss the Hidden Tax Bill Approaching for Businesses

Gridlock Break

Dr. Mark Duggan is a Senior Fellow at the Stanford Institute for Economic Policy Research, focusing much of his research on the healthcare sector. And Dr. Andrew Johnston is an assistant professor of economics at University of California, Merced. Today, they will discuss the Op-Ed they recently co-authored in the Wall Street Journal on a big and hidden tax bill that could be coming for businesses at the worst possible time.

Earlier this year, COVID-19 crushed the US economy and caused our unemployment rate to spike from a sixty year low to the worst rate since the Great Depression. Unemployment Insurance – which was significantly expanded in the CARES Act – was a lifeline for millions of workers, but soon businesses could be hit with a big state tax increase to cover the cost. But as you just heard Doctors Duggan and Johnston explain, there are tax policy reforms states could and should embrace to prevent struggling businesses from getting a big tax hit just as they are trying to get back on their feet.

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