The Bureau of Labor Statistics November Job Report shows a continuing disappointing trend in employment as the nation’s employers added 112,000 jobs in November, far below analyst projections of least 200,000 jobs. This report is a bit of a surprise after the October report showed a strong month with 303,000 jobs added. The 112,000 jobs, about what was added in September this year, is below the approximately 140,000 jobs per month necessary to keep pace with new workers entering the workforce.

In both versions of the FY 2005 Labor-HHS spending bill, the House and Senate approved amendments intended to block the White House from implementing new and harmful overtime rules. Those amendments, sponsored by Rep. David Obey (D-WI) and Sen. Tom Harkin (D-IA), would have reinstated old overtime eligibility rules for some workers, and were seen as a major victory for labor.

Citizens across the country have been gearing up for this election week for an untold number of months. And while much of the attention has been focused on the too-close-to-call presidential election and the key House and Senate races, when voters hit the polls on Nov. 2 they will also be deciding on a number of different ballot initiatives that potentially could have significant impacts on state and local tax policy.

The Senate commemorated the Columbus holiday Oct. 11 by holding a special session to pass the corporate tax bill, also known as the FSC/ETI bill. The previous week the House had passed the bill, which was designed to remove certain corporate tax subsidies on exports which had been ruled illegal by the World Trade Organization two years ago. The new tax breaks hit the nation at a time when corporate tax revenue has dropped to a historic low -- and the federal deficit has climbed to an all-time high. Last week, the Congressional Budget Office reported the FY 2004 federal deficit hit a record $413 billion.