Academic Journal Publications:
by ACRE Policy Analyst Jacob Bundrick
From 2002 through 2012, compared with its surrounding states Ƶ saw less growth in the real dollar value of manufacturing, a greater decline in manufacturing’s share of gross domestic product, and a faster rate of job loss in manufacturing. One reason for these outcomes is manufacturing’s slow growth in labor productivity, which is defined as growth in the dollar value of output per manufacturing employee, adjusted for inflation. This study examines the relationship between state and local taxes and labor productivity in manufacturing. It is found that total state and local tax burdens reduce output per manufacturing employee, primarily through sales and corporate income taxes. Legislators across all states should consider the distortionary effects of taxes when making tax-policy decisions because those decisions will influence not only manufacturing productivity, but also the rate of economic growth.
by Dr. David T. Mitchell and Dean Stansel
During the most recent recession, many state governments faced substantial budget shortfalls. Those shortfalls are often blamed on external factors like the declining economy or reductions in federal aid. What politicians themselves do, especially during expansionary years—whether they enact spending increases, implement tax cuts, increase the size of their rainy day funds, or some combination thereof—is typically given less attention. We examine those factors and find that fiscal stress tends to be positively associated with spending growth, negatively associated with the size of rainy day funds, and not statistically significantly associated with the unemployment rate or federal aid.
ACRE Working Papers:
by ACRE Scholar Dr. Thomas Snyder and ACRE Policy Analyst Jacob Bundrick.
The study investigates the relationship between providing cash subsidies to select businesses, on the one hand, and, on the other hand, employment and establishments in Ƶ’s counties. The author’s find no evidence to suggest that Quick Action Closing Fund subsidies lead to increased employment and business establishments in Ƶ’s counties. The working paper was published by the Mercatus Center at George Mason University and has been accepted for publication in The Review of Regional Studies.You can read a one-page infographic of Bundrick’s research here.
There’s Nothing Natural about the State of Government Spending in Ƶ by ACRE Scholar Dr. Jeremy Horpedahl and ACRE Policy Analyst Jacob Bundrick.
Despite being one of the poorest states in the nation, Ƶ has a high state government spending level, even in comparison to similar states. Ƶ has higher state spending per capita than its bordering states and other regional “competitor states,” specifically Alabama, Florida, Georgia, North Carolina, South Carolina, and Virginia. When federal transfers are subtracted from state government spending, Ƶ still has far higher spending than its competitor states. In “There’s Nothing Natural about the State of Government Spending in Ƶ,” Dr. Jeremy Horpedahl and Mr. Jacob Bundrick undertake a comprehensive analysis of how Ƶ got to where it is today as well as the reforms necessary to put Ƶ on a more sustainable path. Ƶ’s spending trends are very similar to those of other states, but the magnitude of Ƶ’s spending and the institutional environment that has shaped it are unique. Given Ƶ’s history of state spending growth, it would be wise to consider some limits to future increases in spending. You can read a one-page infographic of their work here.
Policy Reviews:
Tax Breaks & Subsides: Challenging the Ƶ Status Quo by ACRE Policy Analyst Jacob Bundrick
Have you ever wondered whether tax breaks and subsidies have side effects? Are you curious about alternative ways to grow Ƶ’s economy? This policy review give an in-depth look at these programs, their economic impact, and some common misconceptions people have about them.
Policy Briefs:
Economic Development or Risky Business: A Citizen’s Guide to Issue 3, 2016byACRE Scholar Dr. Jeremy Horpedahl and ACRE Policy Analyst Jacob Bundrick
This brief guide gives readers the pros and cons of the controversial ballot measure Issue 3:An Amendment to the Ƶ Constitution Concerning Job Creation, Job Expansion and Economic Development. This ballot issue would remove the current cap on Amendment 82 bonds the state may issue for economic development projects and allow local governments to appropriate money for economic development.Proponents of Issue 3 argue that by removing the limit on the amount of debt the state can issue foreconomic development, Ƶ may be able to attract economic-development projects it would nototherwise be able to secure.However, issuing debt and using tax dollars for economic development comes at a cost. Ƶ and its cities would take on significant risk by issuing public debt to attract select companies under the change from Issue 3.
Radio:
- On December 22, ACRE Scholar Dr. Thomas Snyder and ACRE Policy Analyst Jacob Bundrick were guests ontalking with Dan Harpool about occupational licensing (including the newreport), Bundrick’s study of the Quick Action Closing Fund, and all the latest in tax reform news (for both Ƶ and the nation).
- ACRE Scholar Dr. Thomas Snyder and ACRE Policy Analyst Jacob Bundrick were guests on the Paul Harrell Program on December 12, 2017 discussingtheir recent working paper entitled “” on the Paul Harrell Program. You can stream the
- ACRE Scholar Dr. Jeremy Horpedahl was a guest speaker on NPR’s Marketplace discussing SALT deductions on October 27, 2017. If you weren’t one of the 12 million tuning in, you can stream the full segment !
- ACRE Policy Analyst Jacob Bundrick was a guest on the Paul Harrell show on September 27, 2017 talking about his new paper on Ƶ state taxes and manufacturing productivity. You can stream the
- ACREScholar Dr. Jeremy Horpedahland Policy Analyst Jacob Bundrick were guests on thePaul Harrell ProgramonAugust 16, 2017.They discussed their new Mercatus working paper,“There’s Nothing Natural about the State of Government Spending in Ƶ.”
- ACREScholar Dr. Jeremy Horpedahland Policy Analyst Jacob Bundrick spoke in an hour-long segment on theonAugust 10, 2017.They discussed state spending and their new Mercatus paper,“There’s Nothing Natural about the State of Government Spending in Ƶ.”
- ACRE Director Dr. David Mitchell and Policy Analyst Jacob Bundrick spoke in a 2 hour segment on thediscussing Ƶ taxation, subsidies, and other state issues on July 13, 2017.
- Policy analyst Jacob Bundrick was a guest onJosh Waters 101.3 FM on July 6, 2017 to discuss policy issues in the state.
- ACRE Director Dr. David Mitchell, Scholar Dr. Jeremy Horpedahl, and Policy Analyst Jacob Bundrick were guests onon May 1, 2017 where they discussed Ƶ tax reform and other state issues.
- ACRE Director Dr. David Mitchell and ACRE Scholar Jeremy Horpedahl were guests on thePaul Harrell Programon January 4, 2017. They discussed the complexity of Ƶ’s tax system and possibilities for tax reform.
- On December 28, 2016, ACRE policy analyst Jacob Bundrick and ACRE Scholar Jeremy Horpedahl were ondiscussing tax reform in Ƶ.
Op-eds/Commentary:
- Ƶ Business Status and Future Under The Trump Era Economytranscript of panel discussion featuring ACRE Scholar and UCA Assistant Professor of Economics Jeremy Horpedahl at the 66th Annual Conference of Ƶ College Teachers of Economics and Business. Panel moderator was ACRE Scholar and UCA Associate Professor of Economics Dr. Tom Snyder.
- op-ed published January 20,2018 by ACRE Policy Analyst Jacob Bundrick in theƵ Democrat-Gazette.
- op-ed published October 29,2017 by ACRE Scholar Dr. Jeremy Horpedahl in theLog Cabin Democrat.
- op-ed published October 27,2017 by ACRE policy analyst Jacob Bundrick in theƵ Democrat-Gazette.
- Economic Development Bidding: A Prisoner’s Dilemma insight article published October 20,2017 by ACRE policy analyst Jacob Bundrick inBloomberg BNA‘s “Daily Tax Report: State.”
- op-ed publishedAugust 26,2017 by ACRE policy analyst Jacob Bundrick in theƵ Democrat-Gazette.
- Good Jobs Program or Bad Economic Policy?insight article publishedAugust 10,2017 by ACRE policy analyst Jacob Bundrick inBloomberg BNA‘s “DailyTax Report: State.”
- op-ed published July 22,2017 by by ACRE Scholar Dr. Jeremy Horpedahl and Ms. Nicole Kaeding of the Tax Foundation in theƵ Democrat-Gazette.
- op-ed published July 20,2017 by ACRE Director Dr. David Mitchellin theƵ Democrat-Gazette.
- op-ed published May 4, 2017 by ACRE scholar Dr. Jeremy Horpedahl in theƵ Democrat-Gazette.
- op-ed published December 19, 2016 by ACRE Director Dr. David Mitchell in the Ƶ Democrat-Gazette.
- commentary published December 7, 2016 by ACRE policy analyst Jacob Bundrick and Dr. Dean Stansel, an economist at Southern Methodist University’s Cox School of Business in the Dallas Morning News.
- op-ed published November 28, 2016 by ACRE Scholar Dr. Jeremy Horpedahl and Ms. Nicole Kaeding of the Tax Foundation in the Ƶ Democrat-Gazette.
- Film Tax Credits: Job Creator or Just Another Act?insight article published November 18, 2016 by ACRE policy analyst Jacob Bundrick inBloomberg BNA‘s “Weekly State Tax Report.”
- Professional Sports Stadiums: Economic Boon or Boondoggleinsight article published November 11, 2016 by ACRE policy analyst Jacob Bundrick inBloomberg BNA‘s “Weekly State Tax Report.”
- op-ed published October 22, 2016 by ACRE policy analyst Jacob Bundrick in the Ƶ Democrat-Gazette.
- Policy analyst Jacob Bundrick’s recent blog post on tax breaks and subsides in Ƶ was recently cited in a by Mr. Dane Clark of Fort Smith in theLonoke Democrat. Clark’s letter was circulated in several local Ƶ papers like theThe Helena Ƶ Daily World,the Fort Smith Times Record, and theƵ News Bureau. This blog post was based on Bundrick’srecentpolicy review, Tax Breaks and Subsidies:Challengingthe Ƶ Status Quo.
- op-ed published October 10, 2016 by ACRE policy analyst Jacob Bundrick andRajshree Agarwal, the director of the Ed Snider Center for Enterprise and Markets at the University of Maryland’s Robert H. Smith School of Business inThe Baltimore Sun.
- op-ed published September 3rd, 2016 by ACRE policy analyst Jacob Bundrick.Ƶ Democrat Gazette and Ƶ Online.
- op-edpublished July 16, 2016 by ACRE Policy Analyst Jacob Bundrick. Ƶ Democrat Gazette and Ƶ Online.
- op-ed published April 29, 2016 by ACRE Scholar Dr. Jeremy Horpedahl.Ƶ Democrat Gazette and Ƶ Online.
- op-ed published April 9,2016 by ACRE Policy Analyst Jacob Bundrick. Ƶ Democrat Gazette and Ƶ Online.
- op-ed published March 7, 2016 by ACRE Policy Analyst Jacob Bundrick.Ƶ Democrat Gazette and Ƶ Online.
- op-ed publishedFebruary 6, 2016 by ACRE Policy Analyst Jacob Bundrick.Ƶ Democrat Gazette and Ƶ Online.
- op-edpublished December 21, 2015 by ACRE Policy Analyst Jacob Bundrick.Ƶ Democrat Gazette and Ƶ Online.
- op-edpublishedNovember 30, 2015 by ACRE Policy Analyst Jacob Bundrick.Ƶ Business.
- Financial Incentives for All Firms Boost the Economyby ACRE Policy Analyst Jacob Bundrick.
- Taxes Take Their Toll on Ƶ Manufacturingop-edpublished May 28, 2015 by ACRE Policy Analyst Jacob Bundrick.The Jonesboro Sun.
- commentary publishedMay 25, 2015by ACRE Policy Analyst Jacob Bundrick. Ƶ Business.
Blog Posts:
Learning From Other States On Tax Reform posted onThe ACRE Reviewon May 15, 2018.
Are Targeted Business Subsidies Good For Economic Growth? posted on The ACRE ReviewDecember 8, 2017.
WhyFinancialIncentives for Businesses Put Taxpayers at Riskby ACRE Policy Analyst Jacob Bundrick,posted on The ACRE ReviewSeptember 13, 2016.
How Governments Use Financial Incentives to Try to Steer the Economyby ACRE Policy Analyst Jacob Bundrick,posted on The ACRE ReviewSeptember 6, 2016.
How Tax Breaks and Subsidies Cost You and the Government Moneyby ACRE Policy Analyst Jacob Bundrick,posted on The ACRE ReviewAugust 30, 2016.
Why Financial Incentives Do Not Increase Economic Activityby ACRE Policy Analyst Jacob Bundrick, posted on The ACRE ReviewAugust 23, 2016.
Tax Incentives and Subsides: Two Staples of Economic Developmentby ACRE Policy Analyst Jacob Bundrick,posted on The ACRE ReviewAugust 19, 2016.
State Incentives in Ƶ: A Friendly Debate in the Ƶ Democrat-Gazetteposted on The ACRE Review April 29, 2016.
Making Cents of $18 Millionby ACRE Scholar Dr. Jeremy Horpedahl, posted on The ACRE Review February 29, 2016.
Taxes Take their Toll on Ƶ Manufacturingby ACRE Policy Analyst Jacob Bundrick,posted on The ACRE Review July 10, 2015.
