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Wayne Winegarden – Pacific Research Institute

Wayne Winegarden

Blog

Spending Watch: More Debt Is More Taxes

As a recent Public Policy Institute of California (PPIC) poll confirms, this approach is out of step with “most Californians (56%) [who] would prefer to pay lower taxes and have a state government that provides fewer services”. With respect to solving the current budget crisis, the poll found that “fewer ...
Commentary

Read the latest on energy reliability

Energy Transition Or Not, Permitting Reform Is Essential

A reliable energy infrastructure that embraces innovation is essential. Without it, U.S. consumers may lose the capacity to cool our homes when needed, run our appliances on demand, and even earn a living. Ensuring continued energy reliability requires reforms that lessen the burdens associated with federal energy, environmental, and permitting ...
biosimilars

NEW ISSUE BRIEF: Biosimilar Competition Lowers Patient Drug Costs, New Competition Will Bring Even More Savings

A new brief released today by the Center for Medical Economics and Innovation at the nonpartisan Pacific Research Institute provides the latest evidence that biosimilar competition is saving patients billions – and additional competition would increase savings even more. Click to download the brief From 2019-2023, patients saved $15 billion ...
Blog

Is California leaving a large amount of tax revenue on the table?

Flavored Tobacco Prohibition Bans Tax Revenues Not Products

Examining state tax revenues and the volume of legal cigarette sales, it appears that the ban has caused cigarette use to decline. As Figure 1 illustrates, the decline in tax paid cigarette sales accelerated in 2023 following the implementation of the ban. Lost sales translate into lost tax revenues for ...
Climate Change

Fossil Fuel Lawsuits Are A Tax On Consumers

Announcing the state’s lawsuit against energy producers, California AG Rob Bonta claimed it is time to make energy companies pay for “the harm they have caused.” It is one of more than thirty such lawsuits around the country. As I have argued here, here, and here, these lawsuits are not heroic efforts to safeguard the ...
Blog

Read latest on state budget

The Legislature’s Budget Paints White Roses Red

Consequently, the details released thus far indicate that legislators’ plan for balancing the 2024-25 budget will work on paper only. In practice, budget holes will likely persist for the current fiscal year and taxpayers should expect the budget drama to continue long after the official budget is passed on June ...
Business & Economics

Instead Of The CHIPS Act Congress Should Address Patent Troll Abuse

President Biden and Democratic Party leaders are trying to take credit for seeding the next generation of innovations in the information technology sector. Crowing about their latest industrial policy, the CHIPS and Science Act, Senator Schumer stated that “the federal government [is] taking back the reins, putting money where its mouth is ...
Business & Economics

Read the latest on carbon accounting proposals

Activists Use Shareholder Rights To Undermine Shareholders’ Interests

Led by CalPERS, the pension fund for California public workers, activist investors may oppose re-electing ExxonMobil ExxonMobil 0.0% chief executive Darren Woods to the company board. His sin: seeking greater clarification regarding proposals that shareholders have previously rejected multiple times. The issue arises because Environmental, Social, and Governance (ESG) activist investors Arjuna Capital and Follow ...
California

Read about Gov. Newsom's "May Revise" budget proposal

May Revise sets up California for painful spending choices and tax increases

Giving credit where it is due, Gov. Newsom’s “May Revise” budget proposal recognizes the seriousness of the situation. He proposes real cuts, opposes tax increases, and suggests some efficiency improvements – which are all positive steps. Unfortunately, the proposal still relies on too many budget gimmicks and fund shifts. The Newsom plan also underestimates the severity of the current budget shortfall that must be addressed. Making matters worse, growing economic headwinds, including the tech industry laying off over 81,000 people and California’s subpar personal income growth, raises concerns that the ...
Blog

Should CA pay unemployment to striking workers?

Subsidizing Strikes Is The California Legislature’s Latest Anti-Growth Proposal

Worsens California’s Uncompetitive Business Environment UI benefits are not designed for workers who have voluntarily walked off the job – it is part of the social safety net system designed to help those workers who have become unemployed through no fault of their own. Expanding these benefits to workers who ...
Blog

Spending Watch: More Debt Is More Taxes

As a recent Public Policy Institute of California (PPIC) poll confirms, this approach is out of step with “most Californians (56%) [who] would prefer to pay lower taxes and have a state government that provides fewer services”. With respect to solving the current budget crisis, the poll found that “fewer ...
Commentary

Read the latest on energy reliability

Energy Transition Or Not, Permitting Reform Is Essential

A reliable energy infrastructure that embraces innovation is essential. Without it, U.S. consumers may lose the capacity to cool our homes when needed, run our appliances on demand, and even earn a living. Ensuring continued energy reliability requires reforms that lessen the burdens associated with federal energy, environmental, and permitting ...
biosimilars

NEW ISSUE BRIEF: Biosimilar Competition Lowers Patient Drug Costs, New Competition Will Bring Even More Savings

A new brief released today by the Center for Medical Economics and Innovation at the nonpartisan Pacific Research Institute provides the latest evidence that biosimilar competition is saving patients billions – and additional competition would increase savings even more. Click to download the brief From 2019-2023, patients saved $15 billion ...
Blog

Is California leaving a large amount of tax revenue on the table?

Flavored Tobacco Prohibition Bans Tax Revenues Not Products

Examining state tax revenues and the volume of legal cigarette sales, it appears that the ban has caused cigarette use to decline. As Figure 1 illustrates, the decline in tax paid cigarette sales accelerated in 2023 following the implementation of the ban. Lost sales translate into lost tax revenues for ...
Climate Change

Fossil Fuel Lawsuits Are A Tax On Consumers

Announcing the state’s lawsuit against energy producers, California AG Rob Bonta claimed it is time to make energy companies pay for “the harm they have caused.” It is one of more than thirty such lawsuits around the country. As I have argued here, here, and here, these lawsuits are not heroic efforts to safeguard the ...
Blog

Read latest on state budget

The Legislature’s Budget Paints White Roses Red

Consequently, the details released thus far indicate that legislators’ plan for balancing the 2024-25 budget will work on paper only. In practice, budget holes will likely persist for the current fiscal year and taxpayers should expect the budget drama to continue long after the official budget is passed on June ...
Business & Economics

Instead Of The CHIPS Act Congress Should Address Patent Troll Abuse

President Biden and Democratic Party leaders are trying to take credit for seeding the next generation of innovations in the information technology sector. Crowing about their latest industrial policy, the CHIPS and Science Act, Senator Schumer stated that “the federal government [is] taking back the reins, putting money where its mouth is ...
Business & Economics

Read the latest on carbon accounting proposals

Activists Use Shareholder Rights To Undermine Shareholders’ Interests

Led by CalPERS, the pension fund for California public workers, activist investors may oppose re-electing ExxonMobil ExxonMobil 0.0% chief executive Darren Woods to the company board. His sin: seeking greater clarification regarding proposals that shareholders have previously rejected multiple times. The issue arises because Environmental, Social, and Governance (ESG) activist investors Arjuna Capital and Follow ...
California

Read about Gov. Newsom's "May Revise" budget proposal

May Revise sets up California for painful spending choices and tax increases

Giving credit where it is due, Gov. Newsom’s “May Revise” budget proposal recognizes the seriousness of the situation. He proposes real cuts, opposes tax increases, and suggests some efficiency improvements – which are all positive steps. Unfortunately, the proposal still relies on too many budget gimmicks and fund shifts. The Newsom plan also underestimates the severity of the current budget shortfall that must be addressed. Making matters worse, growing economic headwinds, including the tech industry laying off over 81,000 people and California’s subpar personal income growth, raises concerns that the ...
Blog

Should CA pay unemployment to striking workers?

Subsidizing Strikes Is The California Legislature’s Latest Anti-Growth Proposal

Worsens California’s Uncompetitive Business Environment UI benefits are not designed for workers who have voluntarily walked off the job – it is part of the social safety net system designed to help those workers who have become unemployed through no fault of their own. Expanding these benefits to workers who ...
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