House Budget Committee "Balanced" Budget Resolution for FY 2003

The budget resolution that the House Budget Committee marked up and passed by a party line vote (23-18) on March 13, is expected to head to the Floor for debate this week. The budget resolution is not a law, but is a broad outline for spending and tax cuts for FY 2003, which begins on October 1, 2002 and runs through September 31, 2003.

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Internet Taxation

Fact Behind Fiction

A number of you have probably been rolling your eyes for at least the past decade at the notion of any number of e-mail alerts, warning of proposed surcharges on the use of modems on telephone networks and per-minute long-distance charges on Internet connections ("proposed" by a Congressman who has never existed, using bill nomenclature that does not even come close to following that of any chamber of Congress).

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A Sacrifice Worth Making

The following proposals suggest we freeze those elements of last year's $1.35 trillion tax cut that are disproportionately weighted to the nation's wealthiest individuals, to allow the country to meet its many pressing needs.

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Economic Stimulus Package Passed by Congress is Lacking: Spring 2002

The House and Senate, by votes of 417-3 and 85-9 respectively, have finalized “economic stimulus” legislation, and it is now on its way to the President, who is expected to sign the bill. The bill’s title -- “Economic Recovery and Assistance for American Workers Act of 2001” -- is misleading given that it is overloaded with huge tax breaks that will do little to stimulate the economy and the provision for unemployed workers and their families is limited to a 13-week extension of unemployment benefits to those whose 26-week benefit limit has expired.

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What's the Social Security "Surplus" Got to Do with It Anyway?

In Congress, "saving the Social Security surplus" has become a veritable mantra during the current appropriations process. What does this mean?

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Tax Cuts vs. Everything Else

We can either choose to pay now, or we will have to pay later -- preventing social ills is much cheaper in the long run. From a purely economic standpoint, many economists agree that a return to deficits is not a problem -- running a surplus would actually be more of problem -- and that this economic climate prescribes more government spending, not less.

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The Game of Ping-Pong, or "The Economic Stimulus Package Debate"

Less than two weeks ago, many observers -- including OMB Watch -- were predicting that an end, at least for the foreseeable future, had come for the debate on an economic stimulus package.

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Estate Tax Repeal Sense of Senate Amendment Tacked onto Farm Bill

Estate Tax Repeal's Impact on States

A recent report from the New Jersey Policy Perspective (NJPP) illustrates the havoc the 2001 tax cut's repeal of the estate tax is wreaking on the already strained New Jersey budget. The report offers a state-level solution to the problem created by the federal estate tax repeal process, which actually ends the states' ability to "pickup" a portion of the federal tax for themselves earlier than the federal government's estate tax ends. The NJPP website also provides links to the 3 newspapers that have thus far endorsed its proposal, as well as an op-ed piece that ran in the New York Times New Jersey edition.

An update on the efforts of Sen. Jon Kyl (R-AZ) to repeal the estate tax.

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Repeal of the Estate Tax: Impact on Nonprofits

An overview of the estate tax and the impact repeal would have on the ability of nonprofits to serve their communities.

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Is Estate Tax Repeal Really About Helping Small Businesses and Family Farmers?

A major reason cited for repealing the estate tax is that it “is killing family business,” including family farms. But the facts simply do not support this contention.

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