Alternative Minimum Tax (AMT)
CBO Updates Budget Estimates: Massive Deficits to Grow
Sep 7, 2004 by Guest Blogger
The Congressional Budget Office today released its semi-annual update on the nation's budget situation. The report confirms massive deficits for the current year and beyond. In addition, the report shows that deficits will not be "cut in half" in the next five years, as projected by the Bush administration.
read in fullMid-session Review Presents Misleading View of Nation's Finances
Aug 9, 2004 by Guest Blogger
The White House's Office of Management and Budget recently (and belatedly) released its annual budgetary "Mid-Session Review," which attempts to put a positive spin on massive and worsening deficits, as well as the lowest level of revenue in nearly a half century.
read in fullTax Cut Extensions Possible
Jul 9, 2004 by Guest Blogger
We reported earlier that Senate Finance Committee Chairman Charles Grassley (R-IA) wanted to delay until September consideration of extending the "middle-class" tax cuts -- marriage penalty, expansion of the 10% income tax bracket, and the $1000 child tax credit -- that will expire on December 31. However, the Bureau of National Affairs (BNA) reported July 12 that House and Senate leaders plan to consider the cuts late this week.
read in fullBudget Resolution Update
May 28, 2004 by Guest Blogger
As of June 1, there is still no budget resolution, even as the appropriations process is scheduled to begin.
read in fullA Tax Cut a Week in the House
May 14, 2004 by Guest Blogger
In spite of the "PayGo" logjam over whether or not tax cuts ought to be offset, which continues to prevent passage of a budget resolution, the House persists with its "a tax cut a week" schedule.
read in fullWatcher Newsletter - April 20, 2004
Apr 20, 2004 by Guest Blogger
OMB Watch - The Watcher - April 19, 2004 Vol.5, No.8 -
read in fullUnderstanding the AMT (Alternative Minimum Tax)
Apr 16, 2004 by Guest Blogger
The cost of "fixing" the Alternative Minimum Tax (AMT) is often mentioned as one of the "hidden" tax expenditures that must be addressed.
read in fullComparison of House and Senate Budget Plans
Mar 19, 2004 by Guest Blogger
The budget resolution plan passed by the House Budget Committee is far worse than the Senate plan. Nevertheless, the "fiscal discipline" of both plans is based on huge cuts in domestic spending for programs and services that most Americans value in order to extend tax cuts to wealthier Americans.
read in fullThe Misleading 2005 Budget
Feb 6, 2004 by Guest Blogger
It’s hard to know how much emphasis should be put on the president’s 2005 Budget. On one hand, it lays out the president’s main policy objectives – mainly tax cuts for upper income individuals, increases in defense spending, and real cuts for many domestic services. On the other hand, the cost estimates, deficit forecasts, and other analyses are fundamentally misleading.
read in fullEconomy and Jobs Watch: Taking the Long View
Nov 14, 2003 by Guest Blogger
Current economic policy is becoming unsustainable. Current and projected federal deficits are reaching the point where many economic commentators worry about the long-run viability of current policy.
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