Morning Brief: More States Seek NCLB Waivers

Twenty-six more states, and the District of Columbia, are seeking waivers under the No Child Left Behind Act (NCLB), adding to the eleven that have already won this status. States granted a waiver do not have to meet core requirements of the legislation, but are expected to pursue reforms supported by the Obama administration. Additional states are expected to request waivers by September 6 for a third round of review.

This table from the Martin Prosperity Institute, a Toronto-based think tank, highlights the differences in the level of income associated with various levels of education attainment. An average Phd holder can expect to earn nearly $70,000 a year, while someone with less than a high-school diploma can anticipate around $23,000. The chart provides a number of insights and should be helpful for those weighing opportunity costs and whether or not pursuing further education is worth the additional expense.

Education and human capital. Read more from experts discussing ways to improve U.S. education and immigration policies.

Corporate Regulation and Taxation

White House Targets Oil Industry Subsidies

In his second speech on energy in two weeks, President Barack Obama is expected to continue pushing Congress to end billions of dollars in oil industry tax breaks, writes Ben Geman in The Hill. However, lawmakers are unlikely to do so given the opposition from Republicans and oil-state Democrats. Efforts to repeal the subsidies failed in the Democrat-controlled Senate last year.

Corporate regulation and taxation. Read more from top economists and business experts on solutions for addressing corporate tax reform.

Infrastructure

Engineers Give California Infrastructure a "C" Grade

The State of California has not made the infrastructure investments necessary to keep up with its growing population, according the American Society of Civil Engineers. The society gave the Golden State a letter grade of "C" in its 2012 Report Card, and said that an additional annual investment of $65 billion is needed. The C grade is an improvement from the "C-" California received on a similar report card issued by the ASCE in 2006.

Infrastructure. Read more on how upgrading the nation’s aging network of roads, bridges, airports, railways, and water systems is essential to maintaining U.S. competitiveness.