Winners and Losers – April 2

Rowena Itchon – Senior Vice President

Winner: Me!

I finally got a vaccine appointment.

Loser: U.S. jobs

President Biden’s plan to hike the corporate tax rate from 21% to 28% stunts economic growth.  To prevent U.S. companies from exporting jobs, the administration thinks that it can get other countries to raise their corporate tax rates in a kind of international tax regime. More magical thinking — good luck with that!

Evan Harris – Media Relations and Outreach Manager

Winner: Opening Day!

In what seemed unthinkable last April, MLB’s opening day kicked off this week. With baseball back and fans in stadiums, we’re getting a little bit of normalcy back.

Loser: SPACs

The craze may be over, or at least slowed, for investors and startups using special purpose acquisition companies to go public and avoid much of the scrutiny around a traditional initial public offering filing. The U.S. Securities and Exchange Commission is allegedly probing SPAC practices with letters and questions to banks and underwriters.

McKenzie Richards – Development Associate

Winner: Martin Luther King Jr. Hospital

Located in South Los Angeles, the hospital recently founded a new special outpatient clinic that provides follow-up care for former ICU patients of Covid-19. The clinic is intended to address some of the disparities that individuals from underserved communities experience regarding aftercare.

Loser: United Teachers Los Angeles (UTLA) union and Los Angeles Unified School District (LAUSD)

Parents in Los Angeles filed a personal injury lawsuit on behalf of their children against UTLA and LAUSD this week. The lawsuit alleges that the students suffered both academically and emotionally from the extensive closures.

Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.

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