Kyle Pomerleau criticizes the Inflation Reduction Act's proposed 15 percent tax on corporations that report a net income of more than $1 billion. Pomerleau says the tax may create an incentive for misreporting income and expenses and could even distort corporate income tax collection more broadly. He identifies how these flaws and others could prevent the policy from fulfilling its proponents' intent.

In a letter to a roundtable of Republican members of the House Committee on Ways and Means, Beth Akers warns of the effects of broad student loan forgiveness. Akers contends that it will send the same message to borrowers as a bailout and that "the resulting increased willingness to pay will allow institutions to raise their prices further, thus exacerbating already troubling levels of tuition inflation."

Writing in the Wall Street Journal, Phil Gramm and Mike Solon outline the lessons that policymakers should learn from the Great Inflation of 1973–81. Gramm and Solon argue that President Joe Biden continues to make mistakes similar to those of that era's presidents, who failed to control inflation.

Michael Rubin proposes three ways to revise US strategy toward the Islamic Republic of Iran and strengthen our deterrence of Iranian aggression. "There is no magic formula to resolve disputes with Iran, nor are there shortcuts," writes Rubin. "But first, it is important to drop the strategies that do more harm than good."

On Wednesday, August 3, Phillip Swagel, director of the Congressional Budget Office (CBO), came to AEI for a conversation about the CBO's long-term budget outlook with James C. Capretta. After their conversation, AEI's Joseph Antos and Mark J. Warshawsky, as well as the Brookings Institution's Louise Sheiner, sat down for a panel discussion on the subject.