Estate Tax Repeal Supporters Losing Ground

In a move viewed by many as truly outrageous, Sen. Jon Kyl (R-AZ) introduced an amendment to the Senate Budget Committee’s budget resolution on March 19 – the day the country committed itself to billions of dollars for the war and its aftermath in Iraq – to accelerate the repeal of the estate tax by one year.

read in full

House Passes Budget Resolution of Huge Tax Cuts, Program Cuts; Senate Votes Weds.

The House passed its FY 2004 budget resolution last week, officially kicking off the Congressional budget debates for the coming fiscal year. The Senate voted to preserve all but $100 billion of the President’s tax cut, but won’t complete work on the budget resolution until Wednesday, March 26. Though the budget resolutions of each chamber reflect much of the President’s own budget proposals, and especially his $726 billion tax cut, neither resolution passed without a great deal of effort among Republican leaders to ensure that Congressional members voted together.

read in full

Action Alert: Help Continue to Weaken the Bush Tax Cut

ACTION ALERT! Click here to tell your Members of Congress to OPPOSE tax cuts and cuts to vital programs during this time of war and growing deficits. For more information or to sign the petition against these tax cuts, visit the Fair Taxes for All coalition website.

read in full

Summary of Texas Discussion Groups

The following is a summary of themes that arose in discussion groups held in Austin and San Antonio, Texas, on November 18 through 20, 2002, around federal budget priorities from a state and local perspective and how to develop and maintain a long-term effort to increase domestic investment. The meetings were part of a two-year project, called the Social Investment Initiative (SII). A description of the project is available at www.ombwatch.org/sii

read in full

CBO Report Analyzes Effects of President?s Budget Proposals

On March 7, the Congressional Budget Office (CBO) released its annual report analyzing the effects on revenue and spending of the President’s budget proposals. The report was yet another blow to the President’s proposals for additional tax cuts.

read in full

JCT Report Calculates Total Costs of President?s Latest Tax Cut Proposals

On March 4, the Congressional Joint Committee on Taxation (JCT) released its estimates of the costs of the tax provisions contained in the President’s FY 2004 budget proposal. Since the President’s Budget proposal is just that – a proposal – these analyses are important for providing a neutral examination of these policy changes that can permanently affect the federal government’s resources.

read in full

CBO Issues Analysis of Options for Repeal and Reform of Estate Tax

As part of its annual look at budget scenarios, which includes a wide array of tax and revenue options, the Congressional Budget Office (CBO) recently released an analysis of four different options for the estate tax and the revenue effects of each option.

read in full

Committee for Economic Development (CED) Opposes the President?s Plan

The Committee for Economic Development (CED), an influential organization of business leaders and educators, released a report on March 5, 2003, titled "Exploding Deficits, Declining Growth: The Federal Budget and the Aging of America."

read in full

Fair Taxes for All Coalition

OMB Watch is a member of Fair Taxes for All (FTFA), a growing coalition united in opposition to massive, irresponsible tax cuts.

President Bush's "economic growth" plan is a tax cut for millionaires that most economists agree will not effectively stimulate our weak economy or create jobs now. The reduction in public revenue resulting from the overall Bush tax package would leave our government $2 trillion dollars poorer, at a time when many public needs must be met. The FTFA website has fact sheets on the ramifications of these proposed tax cuts on local, state, and federal revenue, as well as analyses of the tradeoffs these tax cuts force. Read more about this effort and how you or your organization can get involved.

read in full

Federal, State, Local Budget Cuts Compounded by Shrinking Private Funds

EPI, Campaign for America’s Future and State Groups Release Reports Detailing Damage Caused by Bush Tax Cuts

Check for the report on the problems your state will face if the Bush tax cut goes through – and find out how to work to stop it.

A person can’t open a newspaper these days without catching sight of at least one article reporting on recent slashes in some local or state budget or in one of the many threads of the country’s social safety net. From coast to coast, over the course of just the last two weeks, cuts have been announced: Oregon Governor Ted Kulongoski (D) announced that several million dollars will be cut this year and next from the state’s Medicaid program, which had been heralded for its success in providing mental and dental benefits, in addition to the traditional hospital care, to Oregon’s poor, elderly, and disabled residents; newly-elected Maryland Governor Bob Erhlich (R) has proposed a $25 million cut in state-funding for child care for low-income parents – this is on top of a 70% cut in funds for Maryland’s Child Care Resource Centers Network, which provides families of all income levels with guidance and information on available local child care providers.

read in full