Three Ways Trump’s Tax Plan Would Affect Families
President Donald Trump’s proposed plan to reform the tax code, as revealed in a one-page outline last week, would benefit middle and lower-income households in three ways, but to varying degrees, says the Smith School's William Longbrake. The proposal would simplify filing requirements and reduce income taxes for many Americans, and lower significantly the tax rate for corporations and companies like his. Overall, says Longbrake, only “a negligible amount" of the estimated $3 trillion to $7 trillion in reduced taxes over the next 10 years would benefit low-income families. Read more...
“Divorces are tough,” says Smith School economist Peter Morici. But Britain nonetheless should break from the “shackles” of its union to a Europe economy locked in ruinous cycles of debt crises and high unemployment. "The EU suffers from chronic slow growth thanks to a smothering bureaucracy and single currency," Morici says. Other Smith School professors foresee challenges if United Kingdom voters opt to separate from the European Union in a referendum on June 23, 2016. 
Economist and former World Bank official Antoine van Agtmael coined the phrase “emerging markets” 35 years ago, but now says the trend behind the concept is shifting. In a new book, "The Smartest Places on Earth," he writes about “brain belts” — cities reinventing themselves with new technology. Smith School Executive-in-Residence William Longbrake shares insights. 
When the stock market plunged in the first minutes of August 25, did well-intended financial regulations contribute to the volatility? The Dodd-Frank act, passed in the wake of the 2008 financial crisis, introduced a host of regulations into the financial system. But Smith School executive-in-residence William Longbrake says some scholars worry that one particular regulation, the so-called Volcker rule, may have introduced new uncertainty into the system. 
The Smith School hosted a forum Tuesday on global market volatility, aimed at making sense of the recent tumult in international markets — notably in China, but also spilling over into other regions, including the United States. Finance faculty participants Russ Wermers, Haluk Unal, Albert "Pete" Kyle, Bill Longbrake, Phillip L. Swagel and Steve Heston. share their insights. 
What is the likelihood that the Fed will raise interest rates in September? William Longbrake, Smith School Executive in Residence and senior policy advisor at the school’s Center for Financial Policy, shares insights and assesses the risks of the various policy options. "The odds (of a rate hike) have fallen further in recent days as turmoil has engulfed global financial markets," he says. 
U.S., European and Asian stock markets all fell in response to Greece rejecting austerity plans demanded by international creditors. But the market reaction was much more muted than analysts had expected. Those experts include Smith School executive-in-residence Bill Longbrake, who spoke to the Associated Press ahead of market openings on Monday. Longbrake said on Sunday night to “watch for how the Europeans handle the Greek bank run, which must be addressed in the next couple of days." 
Bill Longbrake, executive-in-residence at the Smith School's Center for Financial Policy, lays out the big issues for Greece as the country enters the end game of its long-running financial drama. "There are times when, even though there might be a logical solution from an economic and financial point of view, you can't get there because of political constraints," Longbrake says. 
Not reaping the expected benefit of cheap oil, the U.S. economy shrank at an annualized pace of 0.7 percent in the first three months of this year. “When data do not fit expectations, the knee-jerk reaction is to look for excuses,” says Bill Longbrake, executive in residence at the University of Maryland's Robert H. Smith School of Business Center for Financial Policy. “Was it bad weather, the West coast dock strike, faulty seasonal adjustment methodology, the strong dollar, consumer reluctance to spend potentially temporary gas expense savings or something else?” He outlines a rippling effect of three culprits in his May 2015 Longbrake Letter. 