Wayne Winegarden

Blog

Read the latest on California's growing budget problem

Deficits as Far as the Eye Can See

In its Multiyear Budget Outlook, the Legislative Analyst’s Office (LAO) summed up the dire state of California’s fiscal state. According to the LAO, Both our office and the Department of Finance (DOF) project operating deficits ranging from $10 billion to $20 billion over the multiyear period. These shortfalls represent future ...
Blog

Read the latest on the push for drug price controls

To Improve Drug Affordability Congress Should Fix the Payment System

Demanding that drug prices in the U.S. equal overseas prices is akin to demanding that the price of all expensive handbags should equal the prices for the knockoffs that people purchase from street vendors. Of course knockoff bags are cheaper. They violate the intellectual property rights of the bag’s maker, ...
Blog

Spending Watch

The May Revision Should Assume A Weaker Fiscal Position for FY2025-26

The May Revision Should Assume A Weaker Fiscal Position for FY2025-26 Wayne Winegarden April 2025 The recently enacted tariffs are significant tax increases on consumption and production, as I discussed in a February 2025 PRI Issue Brief. These tariffs will increase costs for consumers and reduce profits for businesses both ...
Blog

Imposing Price Controls on U.S. Drugs Won’t Level the Playing Field

The cost of capital for developing a new drug is $2.9 billion, including post approval research and development costs. Meanwhile, the process to develop a drug takes 10 years and only 12 percent of drugs make it to market. These costs do not change simply because governments impose price controls ...
Commentary

Growing LNG Exports Demonstrate The Benefits Of Deregulation

Less than three years ago, Germany was capping energy prices and considering rationing fuel as Europe scrambled to replace cheap Russian oil and natural gas. Today the German market is well supplied and, as of March 10, 2025, no shortages are anticipated. Transformative investments in U.S. based liquefied natural gas ...
Biosimilars

Fixing The Regulatory Flaws Biosimilars Face Will Help Patients

About a month ago, the Centers for Medicare & Medicaid Services announced the next 15 drugs that will be subject to the maximum fair price (MFP) negotiation process. These negotiations are essentially a means to impose price controls on selected medicines. If the Trump Administration truly wants to help patients, ...
Blog

Spending Watch

Backfilling Lost Federal Education Funding Will Cost California Dearly

Backfilling Lost Federal Education Funding Will Cost California Dearly Wayne Winegarden February 2025 The erratic actions of the Trump Administration are undoubtedly making it more difficult for states to budget for the upcoming 2026 fiscal year. The knee-jerk reaction from many California politicians is to call for more taxes on ...
Business & Economics

Tariffs Harm American Consumers, Manufacturers and the Economy, Warns New Study

SACRAMENTO – Recently enacted and proposed tariffs will have devastating consequences for American families, businesses, and the overall economy, according to a new study by the Pacific Research Institute. The report, authored by economist Dr. Wayne Winegarden, finds that tariffs will lead to higher consumer prices, increased manufacturing costs, and ...
Commentary

President Trump Unleashes a New Energy Future Benefiting Americans

On January 20, the U.S. Department of Energy ended the Biden Administration’s misguided pause on processing new Liquefied Natural Gas (LNG) export applications. This is great news. The Biden policy never made sense and unwisely inhibited efforts to export more LNG, particularly to our EU trading partners. Read the entire ...
Blog

Read about a last minute Biden administration plan the Trump administration should undo

CMS’ Drug Price Controls Have Expanded to the Next 15 Medicare Part D Drugs

For every complex problem there is an answer that is clear, simple, and wrong. H.L. Mencken Back in 2022, the Biden Administration reasoned that drug costs are too high and devised a clear and simple answer: incorporate a Maximum Fair Price (MFP) provision into the Inflation Reduction Act of 2022 ...
Blog

Read the latest on California's growing budget problem

Deficits as Far as the Eye Can See

In its Multiyear Budget Outlook, the Legislative Analyst’s Office (LAO) summed up the dire state of California’s fiscal state. According to the LAO, Both our office and the Department of Finance (DOF) project operating deficits ranging from $10 billion to $20 billion over the multiyear period. These shortfalls represent future ...
Blog

Read the latest on the push for drug price controls

To Improve Drug Affordability Congress Should Fix the Payment System

Demanding that drug prices in the U.S. equal overseas prices is akin to demanding that the price of all expensive handbags should equal the prices for the knockoffs that people purchase from street vendors. Of course knockoff bags are cheaper. They violate the intellectual property rights of the bag’s maker, ...
Blog

Spending Watch

The May Revision Should Assume A Weaker Fiscal Position for FY2025-26

The May Revision Should Assume A Weaker Fiscal Position for FY2025-26 Wayne Winegarden April 2025 The recently enacted tariffs are significant tax increases on consumption and production, as I discussed in a February 2025 PRI Issue Brief. These tariffs will increase costs for consumers and reduce profits for businesses both ...
Blog

Imposing Price Controls on U.S. Drugs Won’t Level the Playing Field

The cost of capital for developing a new drug is $2.9 billion, including post approval research and development costs. Meanwhile, the process to develop a drug takes 10 years and only 12 percent of drugs make it to market. These costs do not change simply because governments impose price controls ...
Commentary

Growing LNG Exports Demonstrate The Benefits Of Deregulation

Less than three years ago, Germany was capping energy prices and considering rationing fuel as Europe scrambled to replace cheap Russian oil and natural gas. Today the German market is well supplied and, as of March 10, 2025, no shortages are anticipated. Transformative investments in U.S. based liquefied natural gas ...
Biosimilars

Fixing The Regulatory Flaws Biosimilars Face Will Help Patients

About a month ago, the Centers for Medicare & Medicaid Services announced the next 15 drugs that will be subject to the maximum fair price (MFP) negotiation process. These negotiations are essentially a means to impose price controls on selected medicines. If the Trump Administration truly wants to help patients, ...
Blog

Spending Watch

Backfilling Lost Federal Education Funding Will Cost California Dearly

Backfilling Lost Federal Education Funding Will Cost California Dearly Wayne Winegarden February 2025 The erratic actions of the Trump Administration are undoubtedly making it more difficult for states to budget for the upcoming 2026 fiscal year. The knee-jerk reaction from many California politicians is to call for more taxes on ...
Business & Economics

Tariffs Harm American Consumers, Manufacturers and the Economy, Warns New Study

SACRAMENTO – Recently enacted and proposed tariffs will have devastating consequences for American families, businesses, and the overall economy, according to a new study by the Pacific Research Institute. The report, authored by economist Dr. Wayne Winegarden, finds that tariffs will lead to higher consumer prices, increased manufacturing costs, and ...
Commentary

President Trump Unleashes a New Energy Future Benefiting Americans

On January 20, the U.S. Department of Energy ended the Biden Administration’s misguided pause on processing new Liquefied Natural Gas (LNG) export applications. This is great news. The Biden policy never made sense and unwisely inhibited efforts to export more LNG, particularly to our EU trading partners. Read the entire ...
Blog

Read about a last minute Biden administration plan the Trump administration should undo

CMS’ Drug Price Controls Have Expanded to the Next 15 Medicare Part D Drugs

For every complex problem there is an answer that is clear, simple, and wrong. H.L. Mencken Back in 2022, the Biden Administration reasoned that drug costs are too high and devised a clear and simple answer: incorporate a Maximum Fair Price (MFP) provision into the Inflation Reduction Act of 2022 ...
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