Plus, tariffs versus regulation, and recent developments with large language models.
| Cut taxes or save Social Security? The $5 trillion question As Republicans head toward their goal of making the provisions of the 2017 Tax Cuts and Jobs Act (TCJA) permanent, it is worth asking what else could be done with those trillions. For the amount of money it would take to extend the temporary provisions of the TCJA, policymakers could instead use the funds to keep Social Security solvent for generations, William G. Gale and Samuel I. Thorpe point out. |
| More research and commentary Tariffs versus regulation. Thanks to intensive lobbying by Big Tech, the U.S. Congress has done little to provide meaningful oversight of the digital platform companies. The void created by American inaction has been filled by the European Union. Tom Wheeler discusses how things may change under the new Trump administration. LLMs learn to collaborate and reason. Large language models (LLMs) have seen remarkable advances in speed, cost efficiency, accuracy, and the capacity to process larger amounts of text over the past year, enabling more advanced use cases. Anton Korinek outlines three developments that stand out in recent months. |
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