Press Releases

Rep. Don Beyer (D-VA) today introduced legislation that would synchronize access to business tax information by the three primary government statistical agencies: the Bureau of Labor Statistics (BLS), the Bureau of Economic Analysis (BEA), and the Census Bureau. This reform would improve the accuracy of economic reports and increase the efficiency of our statistical system. Text of the legislation is available here.  

While Congress authorized the three statistical agencies to share business data with each other in 2002 under the Confidential Information Protection and Statistical Efficiency Act, Section 6103 of the U.S. Tax Code prevents uniform access to business tax data. This has resulted in data discrepancies between Census, BEA and BLS estimates.  

“This is a commonsense fix that is long overdue,” said Rep. Beyer. “Policymakers and business leaders rely on the economic reports and indicators released by Census, BEA, and BLS to make informed decisions. The inability of these three agencies to utilize the same data wastes time and resources and contributes to a muddled picture of our economy. There is no good reason for one agency to have access to business tax data and not the other two when all three have demonstrated the ability to be excellent stewards of confidential information. We all benefit from access to better economic data, and this bill would help ensure that we have a more accurate understanding of our economy.”

Economists from across the ideological spectrum agree that this reform is necessary:

“The amendment can be expected to yield substantial improvements in a wide array of statistics on U.S. economic performance, ranging from trade patterns and output of noncorporate businesses to industry-level measures of employment and productivity. Better economic statistics benefit everyone who uses them, including U.S. businesses, households, communities, financial-market participants, and policy decision-makers.”

Karen Dynan, Chair, American Economic Association (AEA) Committee on Economic Statistics – on behalf of the committee
Professor of the Practice, Harvard University

Kenneth Troske, Chair, AEA Committee on Government Relations – on behalf of the committee
Professor of Economics
Chair, Department of Economics, University of Kentucky

“American businesses are flying blind without high-quality government statistics to help inform their decisions. This proposal would significantly improve the quality of information available to business leaders and decision makers. The return on investment for the taxpayer from this proposal would be substantial.”

Michael R. Strain, Arthur F. Burns Scholar in Political Economy
Director of Economic Policy Studies, American Enterprise Institute

“This amendment would facilitate research to produce better evidence on the effectiveness of government programs, including those aimed at boosting economic mobility for low-income Americans. Ultimately, it would improve outcomes for people who are disadvantaged and marginalized throughout the country.”

Jim Sullivan, Professor of Economics
Co-founder and Director, Wilson Sheehan Lab for Economic Opportunities
Director, Notre Dame Poverty Initiative, University of Notre Dame

“This amendment is a game-changer for improving the accuracy and consistency of U.S. economic statistics. By allowing BEA and BLS access to essential business tax data, it ensures business leaders and policymakers will make decisions based on the most reliable and comprehensive economic statistics available.”

Tom Beers, Executive Director, National Association of Business Economists (NABE)