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Market-Based Solutions to Vital Economic Issues
News & Media
Aug 31, 2022

Board of Advisors Member Sees Bad News for Business in New Legislation

Tax proposals in the recently signed Inflation Reduction Act are not “necessarily good news for investment in the short term or potentially in the long run,” said Jennifer Blouin, Richard B. Worley Professor of Financial Management and a professor of accounting at the Wharton School at the University of Pennsylvania. Blouin, a member of the Kenan Institute Board of Advisors, told Knowledge at Wharton that proposals to levy a 1% excise tax on corporate share buybacks and a 15% minimum tax on corporations that report more than $1 billion in book profits or in their financial statements were ill-conceived and based on misconceptions of corporate behavior.


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