Senate Finance Committee Chairman Max Baucus (D-MT) has released a statement calling for a special Inspector General to oversee whatever program is put in place at the Treasury Department to bailout failing Wall Street banks and investment houses. Baucus's letter is signed by 32 other Senators and really makes a lot of sense, which is something we don't often say about Sen. Baucus's proposals. So hats off to Baucus! Let's hope this proposals is integrated into the final plan being developed.

As the clock winds down on the 110th Congress, legislators are working at a furious pace this week, vetting financial bailout proposals, passing tax and spending legislation, holding oversight hearings, etc. All the things that Congress is supposed to do on a regular basis. It's just quite shocking to see them actually doing it. So, here's a quick rundown on where things stand. Senate

With all the news of the massive Wall Street bailout, I've heard really nothing about how this $700 billion gamble is supposed to be paid for (other than more borrowing, which is to say paid for by later). And what I have read, makes me real nervous. In a "dear colleague" letter, former chair of the Republican Study Committe Rep.

Federal News Radio posted a short report from earlier this week about efforts at the Internal Revenue Service (IRS) to collect over $3.5 billion in back taxes from federal employees. The Internal Revenue Service is trying to collect billions of dollars in unpaid taxes from nearly half a million federal employees. According to IRS records, 171,549 current federal workers did not voluntarily pay their federal income taxes in 2007. The same is true for 37,752 active duty military and nearly 200,000 retired civilian and military personnel.