“Many other developed countries with established pharmaceutical industries such as Japan, Canada, and the UK have implemented or are working to roll out their own incentives to spur antibiotic development. The Pasteur Act dwarfs these. This could potentially drive pharmaceutical companies to flock to the US market to make drugs deemed important there and not in other places.
“The size of the Pasteur Act is going to be so large that it ultimately draws developers to only focusing on the United States, only developing the drug so that it can be used appropriately in the United States, and only registering the drug in the United States, because that’s ultimately going to be sufficient revenue and incentive for what otherwise is not a very profitable market,” explained Rohit Malpani, a senior policy advisor at the Global Antibiotic Research and Development Partnership, or GARDP.
Cirz added that with a steady influx of Pasteur Act funds, pharmaceutical companies may be less interested in investing additional funds to figure out ways to manufacture their antibiotics more cheaply. Usually companies would continue investing so they can increase their profit margins by lowering manufacturing costs, but if profit margins are set by the US government, then there’s less incentive to make an approved drug cheaper, when it can divert attention to making even more drugs. Without that innovation for affordable production, the act may unintentionally prohibit developing countries such as India from being able to independently manufacture the drug.
Finally, while Americans with federal health insurance plans are guaranteed access to antimicrobials that receive support from the act, the proposed legislation does not provide any stipulations or guidance for ensuring global access to these drugs. Pharmaceutical companies are left to make decisions regarding pricing, manufacturing, and distribution of whatever antibiotics might be funded by the program, argued Ava Alkon, global health advocacy and policy adviser at Doctors Without Borders.
“What the act doesn’t do is attach any meaningful conditions to facilitate affordable access to people outside of those federal programs, and certainly not outside of the US,” said Alkon.
“From our years of work on access issues around the world, this generally results in products being sold to the highest bidder and being inaccessible in many contexts where they’re needed,” she said.”
“Former President Donald Trump has lately been trying to distance himself from Project 2025, claiming it was cooked up by the “severe right” and that he doesn’t know anything about it.
But it turns out the severe right is coming from inside the house.
Kevin Roberts, the self-proclaimed “head” of Project 2025, has a book coming out in September — and the book’s foreword is written by Trump’s vice presidential candidate, J.D. Vance, who lavishly praises its ideas.
“Never before has a figure with Roberts’s depth and stature within the American Right tried to articulate a genuinely new future for conservatism,” Vance writes, according to the book’s Amazon page. “We are now all realizing that it’s time to circle the wagons and load the muskets. In the fights that lay ahead, these ideas are an essential weapon.”
What ideas? Like Vance, Roberts is obsessed with the idea that the left controls major American institutions — he lists Ivy League colleges, the FBI, the New York Times, the National Institute of Allergy and Infectious Diseases, the Department of Education and even the Boy Scouts of America. The book argues that “conservatives need to burn down” these institutions if “we’re to preserve the American way of life.” (Vox has requested a copy of the book, but has not yet received one at the time of this writing.)
Obviously, this poses a problem for Trump’s attempts to distance himself from the virally unpopular Project 2025 and its lengthy agenda for what he should do if he wins, which includes proposals to restrict abortion access and centralize executive power in the presidency.
And it’s one more indication that Trump’s pick of Vance might be politically problematic for him. Vance has a fascination with provocative and extreme far-right thinkers, and a history of praising their ideas. He is not a running mate tailored to win over swing voters who are concerned Trump might be too extreme — quite the opposite.
The book was written and announced before Vance was chosen as Trump’s running mate. But there’s some indication that people involved had some late second thoughts about it. It was originally announced as “Dawn’s Early Light: Burning Down Washington to Save America,” with a cover image showing a match over the word “Washington.”
More recently, though, the subtitle has been changed to “Taking Back Washington to Save America,” and the match has vanished from the cover.”
…
“Project 2025 contains a multitude of proposals in its 922-page plan, not all of which J.D. Vance necessarily supports.
But he’s on record backing ideas similar to those put forth in two of Project 2025’s most controversial issue areas.
The first is abortion. Project 2025 lays out a sweeping agenda by which the next president could use federal power to prevent abortions, including using an old law called the Comstock Act to prosecute people who mail abortion pills, and working to prevent women from abortion-banning states from traveling out of state to get abortions.
Vance is on record supporting these ideas. Last year, he signed a letter demanding that the Justice Department prosecute physicians and pharmacists “who break the Federal mail-order abortion laws.” In 2022, he said he was “sympathetic” to the idea that the federal government should stop efforts to help women traveling out of their states to get abortions. That year, he also said: “I certainly would like abortion to be illegal nationally.”
At other points, Vance has struck a different tone. ““We have to accept that people do not want blanket abortion bans,” he said last December. And this month he said he supported a Supreme Court decision that allowed the abortion bill mifepristone to remain available. Here, Vance is trying to align with Trump, who — fearing political blowback — argues he merely wants abortion to be a state issue, despite his long alliance with the religious right. But Vance’s record implies his true agenda might be otherwise.
The second controversial area where Vance is sympatico with Project 2025 is centralizing presidential power over the executive branch. The project lays out various proposals to rein in what conservatives view as an out-of-control “deep state” bureaucracy — mainly, by firing far more career civil servants and installing far more political appointees throughout the government.
Vance, as I wrote last week, has backed a maximalist version of this agenda. In 2021, Vance said that in Trump’s second term, Trump should “fire every single midlevel bureaucrat, every civil servant in the administrative state, replace them with our people.” The courts would try to stop this, Vance continued, and Trump should then “stand before the country like Andrew Jackson did, and say, ‘The chief justice has made his ruling. Now let him enforce it.’”
So it’s no big surprise that Vance would write the foreword for a book by Project 2025’s architect. They fundamentally agree on how they see the world, and in much of what they want out of politics: a battle against the left for control of institutions, and expanded government power to stop abortions.”
“Vance is an outspoken protectionist, nationalist, and anti-corporate hawk who’s bound to shift any future Trump administration in an anti-trade, anti-immigration, and anti-market direction. That can only mean bad things for the cost and availability of housing.”
…
“The federal government hasn’t regulated rents at private buildings since World War II. There’s a good reason for that. A mountain of economic evidence suggests rent control is a terribly counterproductive policy.
The research couldn’t be clearer that where rent control policies suppress rents, they also suppress the supply of rental housing (by reducing construction or encouraging conversion of rental units to for-sale units) and reduce the quality of rental housing (by limiting investment).
The people who get a rent-controlled unit pay lower prices and stay in their units longer. The people who don’t get a rent-controlled unit end up paying higher prices. Cities as a whole suffer from declining investment and economic growth.
A rent control policy adopted in St. Paul, Minnesota, saw an exodus of developers from the city. New York City’s long-standing “rent stabilization” policy is producing vacant, dilapidated buildings that no one has the money to fix or redevelop.”
…
“Vance is an arch-protectionist who’s endorsed Trump’s call for 10 percent tariffs across the board. Slapping taxes on imported materials needed for housing construction would make the costs of construction higher, lower housing production, and ultimately raise costs for consumers.
The Republican Party’s 2024 platform calls for deporting immigrants as a means of making housing more affordable.
Vance has been an outspoken proponent of this idea, saying on X last month that “not having 20 million illegal aliens who need to be housed (often at public expense) will absolutely make housing more affordable for American citizens.”
There’s a certain chilling logic to this idea: Lowering housing demand through mass deportations will lower housing prices as well.
New research however suggests the negative supply effects of kicking immigrants out of their homes outweigh any price declines caused by falling demand for housing. While immigrants consume housing, they also build housing. A recent study found that increased immigration enforcement creates a shortage of construction labor that lowers housing production and increases housing costs.”
“The answers are a bit complicated because Project 2025 encompasses a lot of different things (and there are some claims about what’s in it that are simply false). I think of its agenda as falling into three buckets:
1) Concentrating power in the presidency: The idea here is to give Trump and his appointees more power over the executive branch relative to permanent nonpartisan civil service professionals (who he disparages as the so-called “deep state”). Critics fear this will lead to the abuse of power and political hackery. Trump supports these ideas and we have every reason to believe he’d implement them.
2) Achieving longtime conservative priorities: This is stuff like slashing regulations, reducing federal spending on the poor, ditching efforts to fight climate change, ramping up military spending, and so on. Many progressives think these ideas are terrible, but they aren’t exactly new. Trump supports basically all of these. (Project 2025 mostly avoids taking firm positions on issues where Trump breaks from the conservative consensus, such as trade.)
3) Taking a hardline religious-right agenda: The project lays out quite aggressive proposals to use federal power to prevent abortions and restrict certain contraceptive coverage. It even says that pornography should be “outlawed” and its creators and distributors should be “imprisoned.””
“”Many developed countries have repealed their net wealth taxes in recent years,” Cristina Enache wrote for the Tax Foundation in a June report on such levies around the world. “They raise little revenue, create high administrative costs, and induce an outflow of wealthy individuals and their money. Many policymakers have also recognized that high taxes on capital and wealth damage economic growth.”
Depending on how high the tax is set, Enache cautioned, it can erase any gains people might make on their investments. “For safe investments like bonds or bank deposits, a wealth tax of 2 or 3 percent may confiscate all interest earnings, leaving no increase in savings over time.”
Worse, wealth taxes depend on government officials’ ability to accurately assess the value of fluctuating holdings in stocks, property, businesses, and the like. That’s a big ask even if you pretend that tax officials are likely to be honest in such efforts.
“The Amsterdam stock market fell by around 13pc in 2022 as inflation soared – but the tax office assumed investors generated returns of 5.5pc, and taxed them accordingly,” Charlotte Gifford wrote for The Telegraph about the administration of the Dutch wealth tax.
The Supreme Court in the Netherlands ruled that the wealth tax hits people excessively hard relative to actual earnings and that it’s unacceptably discriminatory while also violating rights to property ownership. Just weeks ago, the Dutch court revisited its ruling and found legislative efforts to fix the wealth tax inadequate. Hundreds of thousands of people are now owed refunds.
Enache examines several arguments for wealth taxes, including claims that they encourage more productive use of assets or their transfer to entrepreneurs who are better at producing value. But wealth taxes can also encourage consumption among those who fear they might as well enjoy assets now rather than have them confiscated later. They also incentivize businesses to pay large dividends while discouraging growth.”
“One strange thing about the American unemployment insurance (UI) system — which provides weekly payments to jobless people who meet certain criteria — is that it’s not insurance against being unemployed. More accurately, it’s insurance against losing a job “through no fault of your own,” which makes UI more like “getting laid off insurance.”
Aside from a few exceptions in some states for things like escaping domestic violence or hostile workplaces, voluntarily leaving your job disqualifies you from receiving unemployment benefits. Allowing people who quit to receive those payments would be “contrary to one of the fundamental tenets of the UI program. The idea is that we want to incentivize people to work,” said Doug Holmes, president of Strategic Services on Unemployment & Workers’ Compensation (UWC), an association that has represented the interests of businesses in matters of UI reform since 1933.
So the point of the American UI system is not to make it easier to quit a job. But a few economists are now beginning to ask: Should it be?”
…
“Boosting UI generosity doesn’t affect overall employment rates one way or the other. Instead of loafing around in subsidized unemployment, more generous benefits can support people to quit their jobs in search of better ones, which benefits workers through higher wages and better job satisfaction, and the economy through enhanced productivity as people find better uses for their skills.
Put simply, more quitting can be good for the economy. If UI made it easier for more workers to quit their jobs, people would still look for work and the economy could be better off overall. The real losers would be lousy jobs, which would struggle to retain workers with a greater cushion to quit and go looking elsewhere.”
…
“In theory, working a job and buying that carton of eggs are both voluntary transactions. If you don’t like your job, you’re as free to find another as you are to choose a different, cheaper carton of eggs. In practice, especially for lower-wage workers who face relentless economic pressure and lots of debt, adding a job search on top of full-time work just isn’t feasible.
As a result, people trapped in jobs aren’t able to send signals to the labor market that their work sucks and leaves them too drained to find something better. Let this kind of labor market evolve over the course of decades or centuries and you can wind up with an economy full of jobs that make too many people miserable. Without enough freedom to quit, the core logic aligning labor markets with people’s preferences is flying partially blind.”
“Former President Donald Trump helped negotiate the U.S. withdrawal from Afghanistan, ending America’s longest foreign war. But now he believes that the United States should have kept its largest base in Afghanistan to help in a future conflict against China.
During this week’s Republican National Convention, speaker after speaker has tried to transform “America First” from a slogan against overseas entanglements into a cry for more aggressive military force. And the gambit seems to have succeeded. A day after Trump’s running mate, Sen. J.D. Vance (R–Ohio), condemned the war in Afghanistan as a failure, Trump himself called for using Afghanistan as a springboard to future conflicts.”