We are thrilled to share the exciting news that one of our esteemed faculty members has achieved a significant milestone in tax policy reform. Professor Jeremy Bearer-Friend's groundbreaking proposal, advocating for the elimination of tax subsidies for corporate mergers, has transitioned from a scholarly report to bipartisan legislation introduced in the Senate. This achievement underscores the profound impact of academic research on shaping legislative agendas and advancing meaningful change in our tax system.
In 2018, Professor Bearer-Friend challenged conventional tax policies by highlighting the inequities inherent in providing tax breaks for corporate mergers, known as "tax-free reorgs." Despite initial skepticism, their research gained traction, supported by the Great Democracy Initiative, ultimately catching the attention of policymakers. The recent introduction of bipartisan legislation to tax these deals is a testament to the power of rigorous academic inquiry coupled with dedicated advocacy efforts. It exemplifies the vital role that scholars play in informing public discourse and driving policy reform.
This milestone serves as an inspiration not only to aspiring academics but to all those who believe in the transformative potential of research in shaping a more just and equitable society. As we celebrate this remarkable achievement, we are reminded of the importance of academic engagement in addressing pressing societal challenges and fostering positive change.