Federal Deficit Over $450 Billion

OMB today released its mid-session review, which updates budget and deficit projections.

The deficit is now projected to be $455 billion (4.2% of GDP) for FY 2003, and $475 billion next year.

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Estate Tax Factsheet

Here's some information on the estate tax...

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Budget Woes Trickle Down

"Hard-Hit State and Local Governments Say Bush and Congress Left Them to Make Cuts, Raise Taxes"

Interesting article in the Washington Post that links federal tax cuts to the state fiscal crises in Massachusetts.

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Watcher Articles

There are five new budget articles in the current issue of The Watcher.

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OMB Watch Comments on EITC "Pre-Certification"

The IRS is planning a "pilot" project to require "pre-certification" of EITC recipients beginning in August 2003. The project is targeted at filers who claim children who are not their own. Comments on the form that requires documentation or affidavits proving residency of children with the claiming tax filer for six months of the tax year were due July 14. Comments on the overall process are can be made through December 31, 2003. See the IRS announcement for more information.

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From the Tax Policy Center

Here's the latest from the Urban-Brookings Tax Policy Center:

TAX EVASION, IRS PRIORITIES, AND THE EITC Leonard E. Burman Testimony to United States House of Representatives

THE AMT: PROJECTIONS AND PROBLEMS Leonard E. Burman, William G. Gale and Jeff Rohaly TAX NOTES, July 7, 2003

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Brookings/Urban Event on BlockGrants

From Margy Waller: Brand new posting: You can find all of the transcripts and powerpoint presentations from the Brookings Urban Center NYC event on block grants on our site as of today. The Brookings InstitutionEnding the Safety Net as We Know It? Assessing the New Federal Block Grant ProposalsOverview

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State Medicaid Programs Lack Oversight

The New York Times gives an example why block-granting programs to states is usually not a good idea.For the GAO report see Long-Term Care: Federal Oversight of Growing Medicaid Home and Community-Based Waivers Should Be Strengthened. GAO-03-576, June 20, or just the Highlights.

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Save Head Start

Below (in PDF) are links flyers in English and Spanish about today's (7-8-03) National Call-In Day to Protect Head Start sponsored by the National Head Start Association and the Service Employees International Union (SEIU). Please distribute widely.English Spanish

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