Mums the Word from the White House on State Secrets Act

To my dismay the White House has repeatedly stonewalled regarding its position on the State Secrets Privilege Protection Act targeted at limiting the executive branch’s use of privilege.  In the past two weeks the White House has refused comment to Marc Armbinder of The Atlantic and Greg Sargent of TPM. 

read in full

CBPP Report on Proper Disclosure of State Tax Expenditures

The Center on Budget and Policy Priorities published a fantastic, in-depth report this month examining the state of disclosure of state level tax expenditures. The report reviews the best (OR, MN, and CT) and worst (AR, MD, and RI) state reports and outlines the best practices for the ideal tax expenditure disclosure. CBPP makes a strong case that increased disclosure of tax expenditure data by states would improve policies and accountability:

If properly designed and implemented, a tax expenditure report makes tax expenditures more transparent by telling policymakers and the public how the state is spending its money and what it is accomplishing through those expenditures. A tax expenditure report also encourages accountability by enabling policymakers and voters to evaluate individual tax expenditures and decide whether to continue them. In addition, a tax expenditure report saves money by enabling policymakers to monitor the costs of tax expenditures and rein in their cost if necessary.

read in full

SIGTARP Investigates Possible Book-Cooking!

book cookingThe Special Inspector General for TARP has begun investigations into whether some banks altered their accounting records and balance sheets in order to appear "fundamentally sound," the Financial Times is reporting this morning. Banks must demonstrate they are "fundamentally sound" before they can qualify for TARP funds from the government.

read in full

Takin’ TRI to the Next Level: First Path - Expanding Information Tracked

On April 9 I introduced the need for improving the Toxics Release Inventory (TRI) and suggested three broad paths for achieving this. Here I discuss one path – expanding information. We always want more information. And for a while TRI was a program regularly searching for new data to report with new industries being added, new chemicals, lowering the threshold for some chemicals, and adding federal facilities. But recently we have gone backwards with an effort by the agency to raise the reporting thresholds and have fewer detailed reports filed.

read in full

Social Security Unfairly Blamed Again for Health Care's Problems

In an opinion piece published in Roll Call, Gene Steuerle, vice president of the Peter G. Peterson Foundation, engages in a bit of trickery intended to make long-term Social Security financing appear more dangerous to the long-term fiscal situation than it really is. The premise of the piece -- that Obama's budget is not transformative -- is, I think, spot on. However, Steuerle's enveloping of Social Security into Medicare and Medicaid costs is a classic sleight-of-hand employed by those who would dismantle Social Security as it exists today.

read in full

Takin' TRI to the Next Level

Recently the Environmental Protection Agency (EPA) and the Environmental Council of the States (ECOS) invited me to speak at the National TRI Conference about my ideas for where the new administration might take the Toxic Releases Inventory (TRI) program. I thought some people who missed the conference might be interested in the ideas so I’m posting them here in a series of blog posts.

read in full

Lack of Audits of Financial Services Firms Distressing

IRS paperwork

Despite the news from last week that the IRS is staffing up and hiring thousands of additional revenue agents and officers, there is new data out from the IRS that is a bit depressing. The Transactional Records Access Clearninghouse (TRAC) released a new report today that shows the IRS continues to do too little to audit financial services firms, particularly those with over $250 million in assets.

read in full

Technological Ineptitude in Congress is Just Sad

Earmarks has become the new four letter word in Congress of late, with most members rhetorically castigating earmarks while quietly slipping in earmark requests for funding in their districts to committee staff, in conference reports of bills, and anyplace else they can stick them.

read in full

Sen. Lincoln and the Multi-Millionaire Farmer

The estate tax just can't seem to stay out of the headlines lately. First, the New York Times ran another great editorial this morning browbeating the 10 Democratic and 41 Republican senators who voted to increase tax cuts for multi-millionaires last week. The Times held particular scorn for Sen. Blanche Lincoln (D-AR), who tried to justify offering the amendment to reward the super-rich saying it was really about small businesses and job creation. From the editorial:
The implication is that upon the death of an owner, estate taxes typically devastate small businesses and the jobs they provide. That is swill.

read in full

CBO Monthly Budget Review: March, 2009

The Congressional Budget Office (CBO) has released its monthly budget review this morning that estimates a deficit of $953 billion for the first half of FY 2009. This is a whopping $640 billion more than for the same period in FY 2008.

read in full

Pages

Subscribe to The Fine Print: blog posts from Center for Effective Government