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Veronique De Rugy

Veronique De Rugy

Veronique de Rugy is a senior research fellow at the Mercatus Center at George Mason University and a nationally syndicated columnist. Her primary research interests include the U.S. economy, the federal budget, homeland security, taxation, tax competition, and financial privacy. Her popular weekly charts, published by the Mercatus Center, address economic issues ranging from lessons on creating sustainable economic growth to the implications of government tax and fiscal policies. She has testified numerous times in front of Congress on the effects of fiscal stimulus, debt and deficits, and regulation on the economy.

Articles by Veronique De Rugy

Ex-Im "Reform" Documents Look Like More of the Same Crony Capitalism

6 days ago

It has been disheartening, though not completely surprising, to watch the Republican party move from being the driving force behind terminating the crony capitalist agency known as the Export-Import Bank to a party that will do anything to not step on the toes of the president. Mr. Trump used to think Ex-Im was corporate welfare too, but he now would like to use the Bank as a national security tool to compete with China.
What has been surprising is just how acquiescent Republican senators have been to the president’s pivot to embrace Ex-Im. Take a look, for instance, at the list of those who voted in favor of the nomination of Kimberley Reed as the new Ex-Im head. That vote effectively brought the agency back to life after a four-year hiatus. You will find the names of senators who

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Ex-Im “Reform” Documents Look Like More of the Same Crony Capitalism

6 days ago

It has been disheartening, though not completely surprising, to watch the Republican party move from being the driving force behind terminating the crony capitalist agency known as the Export-Import Bank to a party that will do anything to not step on the toes of the president. Mr. Trump used to think Ex-Im was corporate welfare too, but he now would like to use the Bank as a national security tool to compete with China.
What has been surprising is just how acquiescent Republican senators have been to the president’s pivot to embrace Ex-Im. Take a look, for instance, at the list of those who voted in favor of the nomination of Kimberley Reed as the new Ex-Im head. That vote effectively brought the agency back to life after a four-year hiatus. You will find the names of senators who

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On Trade, Both Trump and Warren Get a Fail

11 days ago

When you care about freedom, there are a lot of areas where politicians of both sides are two sides of the same coin. I have already highlighted the similar enthusiasm of Senators Josh Hawley and Kamala Harris for using government to achieve their goals. 
Here is another one. When it comes to trade, Senator Elizabeth Warren and President Trump are two peas in a pod.
President Trump’s views on trade are well known. Unfortunately, given the modern presidency’s enormous executive power, Trump has already inflicted on us many of his destructive policies. While some of his more free-market advisors have convinced him to occasionally assert that his ultimate goal is the elimination of all tariffs and subsidies worldwide, these assertions ring hollow given that they are always premised on the

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How To Get Better at Budgets

July 26, 2019

Veronique de Rugy writes on laws passed in certain countries which aim to reduce deficit spending and provide better oversight over government finances– steps that should be taken in the U.S.
Read it at Reason.

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Want To Be an Eyelash Technician? You Will Need a License for that.

June 11, 2019

My colleague Adam Thierer sent me this tweet from Rep. Jillian Gilchrest (D-CT). Apparently, the legislator is thrilled that Connecticut will keep more low-skilled workers out of the labor force by passing an occupational-licensing requirement for, wait for it, eyelash technicians, estheticians, and nail technicians.
Here is the tweet:
I am beyond pleased that Connecticut will join the rest of the country in licensing eyelash technicians, estheticians (July 2020), and nail technicians (Jan 2021). #GettingThingsDone#2019Session
Her ignorance and economic illiteracy would be funny if it were not for the fact that many people will suffer as a result of this restriction. Many will not be able to start their own businesses, while many others will have to pay higher prices for simple cosmetic

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Kill The Boeing Bank Once and For All

April 8, 2019

Representative Justin Amash (R-MI) just reintroduced a bill called the Export-Import Bank Termination Act of 2019. The congressman honorably aspires to permanently close the federal credit agency because of its extreme cronyism.
Until 2015, the agency used its discretion to extend loans so that foreign corporations would buy American exports from large and well-connected firms. The leader of the winner’s pack was Boeing which would score 70 percent of all Export-Import Bank loan guarantees and 40 percent of all activities.
This is why Ex-Im was commonly called “the Bank of Boeing.”
No more, though. Since 2015, the Bank has been functioning at about 16 percent capacity. The reason: thanks to some Republican members in the Senate, it has failed to get the 3 members on its board of directors

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Kill The Boeing Bank Once and For All

April 5, 2019

Veronique de Rugy writes on the effects of reforms to the Export-Import Bank, which have prevented large sums of its annual loan capacity from being handed to Boeing over other businesses.
Read it at AIER.

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The US Should Welcome and Celebrate Immigrant Investors

March 29, 2019

Emigrating is the ultimate vote of disapproval.
When a government becomes too oppressive or incompetent, and elections prove inadequate at improving policy, leaving for a better jurisdiction is a citizen’s ultimate trump card. Governments, in turn, compete to attract those individuals who are dissatisfied with their current homes. The benefits of this competition accrue to us all, even to those who never move.
We see this effect most clearly with taxes. Tax competition between national jurisdictions doesn’t just benefit the individuals and businesses who move to different countries to escape onerous tax burdens. By providing a check on political avarice that would otherwise lead to highly destructive tax rates, this competition also helps to keep the global economy strong.
We see this

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The Amazon Deal Was an Outrage from the Beginning

February 18, 2019

Amazon just announced that it is abandoning its plans to build a new headquarters in New York City after the company faced stiff resistance from some local politicians led by the vocal new star of the Democratic Party, Alexandra Ocasio-Cortez (AOC). Their objection: giving one of the world’s most valuable companies billions of dollars in tax incentives.
You won’t hear me say this often, but in this case AOC got it right. It was indeed an outrage for the city to extend to Amazon over $3 billion in subsidies. In fact, there is never any good reason for government to subsidize a private company. Such handouts are appalling in their cronyism, in addition to being a sign of economic ignorance.
In this case, the justification for the subsidies to Amazon is that NYC officials believed them to be

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