As the 2024 election looms, one of the most debated policy proposals is the "No Tax on Tips" plan championed by former President Donald Trump and Vice President Kamala Harris. This initiative, which aims to eliminate federal income tax on tip income, is designed to bolster the take-home pay of millions of American workers in the service industry. While the plan promises immediate benefits for tipped workers, its broader economic implications raise questions about long-term impacts on the U.S. economy.
The Tax-Exempt Tip Plan: A Mixed Bag for the U.S. Economy
User Research Spotlight: How Medicaid & SNAP Cuts Could Impact Jobs and State Economies
A recent study by the Commonwealth Fund examines the potential economic repercussions of proposed federal cuts to Medicaid and the Supplemental Nutrition Assistance Program (SNAP). The analysis projects that such cuts could lead to over 1 million job losses nationwide and a $113 billion reduction in state GDPs by 2026.
Understanding the Economic Implications of NIH’s Indirect Costs Cap: A Closer Look at the 2025 Proposal
In February 2025, the National Institutes of Health (NIH) proposed a cap on indirect costs for federal grants. This move could significantly affect the funding landscape for research institutions across the country, and it’s important to understand the economic consequences of this change. In particular, the cap could reduce the indirect costs that are vital to covering overhead expenses associated with research activities.
How Associations Can Use Economic Impact Analysis to Strengthen Advocacy and Demonstrate Value
In an increasingly competitive landscape, industry associations must continuously prove their value—to policymakers, the public, and even their own members. Whether advocating for funding, shaping regulations, or increasing public awareness, associations need compelling data to tell their story effectively.
That’s where economic impact analysis comes in.
The Economic Ramifications of California’s Wildfires: Troubling News for Food Supply
The recent California wildfires have wreaked havoc across greater Los Angeles, threatening lives, homes, and businesses. But the ramifications of these wildfires extend far beyond visible destruction. In this follow-up to our earlier exploration of wildfires’ economic impacts, we dive into the findings of an Impact Analysis conducted on crop production in the affected areas. The results shed light on the profound consequences for California’s economy and the nation’s food supply.
Data season is here! At IMPLAN, we mark the holiday season with our annual data release. That means 2023 data has arrived in IMPLAN Cloud.
Each year, IMPLAN’s economists work diligently to compile the latest data from a wide range of sources, fill in gaps in the raw data, balance the data across all geographic levels, and more, empowering users to make their analyses more accurate and timely.
Closing Campus Doors: A Growing Threat to Local Economies
The educational landscape in the United States is changing rapidly, and for many small colleges and universities, the outlook is bleak. While large institutions may thrive, smaller liberal arts colleges have been facing mounting challenges that are pushing many toward closure. Over the last few decades, these colleges have played a pivotal role in fostering economic growth and stability in the small towns and cities where they are located. However, shifting demographics, rising operational costs, and other factors have combined to create a climate in which many schools are struggling to survive. What happens to the local economy when these institutions shut their doors?
Announcing New Quick Start Guides: University Impacts & Simplified Tourism Impacts
We’re thrilled to announce the latest additions to IMPLAN’s Quick Start Guides: the University Impacts Guide and the Simplified Tourism Impacts Guide. Like our other Quick Start Guides, these new guides are designed to make economic analysis accessible to everyone, regardless of their background in economics. By following a series of on-screen prompts, users can easily analyze the impacts of various economic events and projects.
Tripling Nuclear Energy Capacity in the United States: The Impact of Converting Coal Power Plants to Nuclear
The United States made a significant commitment during COP28 (The 2023 United Nations Climate Change Conference or Conference of the Parties of the UNFCCC) late last year by endorsing the declaration to triple its nuclear energy capacity by 2050. This ambitious goal aligns with the U.S. Department of Energy's (DOE) projections for reaching net-zero emissions in the next 26 years.
A key strategy to achieve this goal involves converting existing coal power plants to advanced nuclear plants. The DOE has identified 315 coal power plant sites as suitable for such conversions, including 125 recently retired plants. This approach could significantly cut construction costs, address job security for the current energy workforce, and advance environmental justice.
Topics: Economics, Environmental, Energy, Impact
The Multi-faceted Economic Impacts Associated with the Increased Use of GLP-1 Medications
A new class of obesity medications known as GLP-1s has taken the U.S. by storm, with 10 million Americans having already taken the medications and 5 million still currently using them.
GLP-1s work by decreasing appetite and can reduce calorie intake by 20% to 30% daily, according to findings from a Morgan Stanley research survey. Consumers in the survey reported reduced food consumption in many food categories, with the differences being most notable for snacks, confections, carbonated and sugary drinks, and alcohol.
Topics: Economics, Impact, healthcare