Armageddon: The Inevitable Death of Nuclear Power and Whether New York State Has the Legal Authority to Keep It on Life Support

This Note seeks to make the argument for New York’s ZEC program as a legitimate exercise of state power. Part I provides context—the history of nuclear power, the rise and fall in the incidence of nuclear power projects, and why such investments are failing. Part II then provides an overview of the CES and the ZEC program contained therein. In Part III, the legal challenges filed in response to Tier 3 are discussed, as well as the Illinois case which parallels the conventional generator challenge in New York. Part III will also discuss relevant legal precedent the cases concern, namely the recent United States Supreme Court case, Hughes v. Talen Energy Marketing, LLC. Part IV analyzes federal preemption to the extent it affects the New York program. This analysis mirrors—and in some areas, expands upon—the district court’s findings regarding New York’s program. Further, it compares similar crediting mechanisms currently used across the United States and other analogs demonstrating that, although federal preemption appears to control, there is significant room for the states to regulate. This Note ultimately concludes in Part V that the ZEC program is likely a legitimate exercise of state power, despite incidental effects it may have on related federal regulation

The Rise and Fall of Post—World War II Corporate Tax Reform

The United States is unique in subjecting corporate income to two layers of tax. In what is called a classical system, corporate income is taxed once at the entity level when earned and a second time at the individual level when distributed to shareholders in the form of a dividend. By contrast, in most other countries, corporate- and shareholder-level taxes are fully or partially integrated through some form of credit or deduction. America\u27s double taxation of corporate income is a much-criticized but persistent feature of its current tax system despite numerous reform proposals over the last half-century or so. Here, Bank discusses why dividend-tax relief was so long in coming, given the initial momentum for reform and determines what led dividend-tax reform to rise to the top of the agenda in 1954

The Rise and Fall of Post—World War II Corporate Tax Reform

The United States is unique in subjecting corporate income to two layers of tax. In what is called a classical system, corporate income is taxed once at the entity level when earned and a second time at the individual level when distributed to shareholders in the form of a dividend. By contrast, in most other countries, corporate- and shareholder-level taxes are fully or partially integrated through some form of credit or deduction. America\u27s double taxation of corporate income is a much-criticized but persistent feature of its current tax system despite numerous reform proposals over the last half-century or so. Here, Bank discusses why dividend-tax relief was so long in coming, given the initial momentum for reform and determines what led dividend-tax reform to rise to the top of the agenda in 1954

Shifting Gears: State Innovation to Advance Workers and the Economy in the Midwest

Outlines five states' policy actions to expand access to postsecondary credentials and careers and innovations implemented through Joyce's initiative, including combining basic skills content with workforce readiness, support services, and specialization

Tonga: Economic Survey 2009

The Tongan economy was well on its way to recovery from the effects of the riots and the oversized rise in public sector salaries of 2005 when it was hit by three new shocks: an inflation surge in 2007-08 due to price rises for imported food and fuels; the bursting of a bank credit 'bubble'; and the global financial crisis. Nevertheless, GDP growth has remained positive, as the subsistence sector is sheltered, and foreign financial assistance has supported construction activity and permitted an expansionary stance of fiscal policy. The macroeconomic picture is one of stability, with inflation back to low levels and the budget and the balance of payments showing overall surpluses. The economy remains vulnerable, however, and Tonga still does not appear to be within reach of a sustainable development path. The government will need-with the help of donor countries-to mobilise the private sector in key areas and tackle the main obstacles to development. Regional cooperation should also be strengthened, especially through consolidation and harmonisation. Pursuing these goals while maintaining the momentum for constitutional reform will be a major challenge

North-South Trade Liberalization and Returns to Skill in the South: The Case of Mexico

This study examines the effect of NAFTA, an instance of North-South trade liberalization, on returns to skill in Mexico. Mexico is abundant in low-skill workers relative to the US and Canada, and so, by the Hecksher-Ohlin-Samuelson trade model, NAFTA ought to have raised the relative earnings of low-skill workers, that is, lowered returns to skill in Mexico. Analysis of Mexican labor micro-data yields the finding that while returns to skill in industries producing tradeables have risen, ceteris paribus, since Mexico embarked upon trade liberalization by joining the GATT in 1986, this rise was less pronounced by 1999 in industries liberalized relatively rapidly by NAFTA, launched in 1994, than in industries liberalized relatively slowly by this phased trade treaty. This is considered evidence of NAFTA holding back rise in returns to skill, since it is plausible such a dampening would have been more marked in industries more rapidly exposed to trade with Mexico's skill abundant northern neighbors. Hence, this study suggests trade with developed nations may lower returns to skill in developing nations. It is speculated this may slow the pace of private human capital accumulation in developing nations, with negative consequences for their economic growth.human capital, Heckscher-Ohlin model, NAFTA

Trademark Vigilance in the Twenty-First Century: An Update

The trademark laws impose a duty upon brand owners to be vigilant in policing their marks, lest they be subject to the defense of laches, a reduced scope of protection, or even death by genericide. Before the millennium, it was relatively manageable for brand owners to police the retail marketplace for infringements and counterfeits. The Internet changed everything. In ways unforeseen, the Internet has unleashed a tremendously damaging cataclysm upon brands—online counterfeiting. It has created a virtual pipeline directly from factories in China to the American consumer shopping from home or work. The very online platforms that make Internet shopping so convenient, and that have enabled brands to expand their sales, have exposed buyers to unwittingly purchasing fake goods which can jeopardize their health and safety as well as brand reputation. This Article updates a 1999 panel discussion titled Trademark Vigilance in the Twenty-First Century, held at Fordham Law School, and explains all the ways in which vigilance has changed since the Internet has become an inescapable feature of everyday life. It provides trademark owners with a road map for monitoring brand abuse online and solutions for taking action against infringers, counterfeiters and others who threaten to undermine brand value

Economic Recovery: Sustaining U.S. Economic Growth in a Post-Crisis Economy

[Excerpt] There is concern that this time the U.S. economy will either not return to its pre-recession growth path but perhaps remain permanently below it, or return to the pre-crisis path but at a slower than normal pace. Problems on the supply side and the demand side of the economy has so far led to a weaker than normal recovery. If the pace of private spending proves insufficient to assure a sustained recovery, would further stimulus by monetary and fiscal policy be warranted? One of the important lessons from the Great Depression is to guard against a too hasty withdrawal of fiscal and monetary stimulus in an economy recovering from a deep decline. The removal of fiscal and monetary stimulus in 1937 is thought to have stopped a recovery and caused a slump that did not end until WWII. Opponents of further stimulus maintain that the accumulation of additional government debt would lower future economic growth, but supporters argue that additional stimulus is the appropriate near-term policy