Inequality and Poverty

Feb 8, 2016

Top 400 Taxpayers See Tax Rates Rise, But There’s More to the Story

As Americans were gathering party supplies to greet the New Year, the Internal Revenue Service released their annual report of cumulative tax data reported on the 400 tax r...

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Feb 4, 2016

Chlorine Bleach Plants Needlessly Endanger 63 Million Americans

Chlorine bleach plants across the U.S. put millions of Americans in danger of a chlorine gas release, a substance so toxic it has been used as a chemical weapon. Greenpeace’s new repo...

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Jan 25, 2016

U.S. Industrial Facilities Reported Fewer Toxic Releases in 2014

The Toxics Release Inventory (TRI) data for 2014 is now available. The good news: total toxic releases by reporting facilities decreased by nearly six percent from 2013 levels. Howe...

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Jan 22, 2016

Methane Causes Climate Change. Here's How the President Plans to Cut Emissions by 40-45 Percent.

UPDATE (Jan. 22, 2016): Today, the Bureau of Land Management (BLM) released its proposed rule to reduce methane emissions...

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more news

Bernake Confirmed as Chairman of the Federal Reserve

Jan 31, 2006 by Guest Blogger

The Senate confirmed Ben Bernake today as Chairman of the Federal Reserve. He replaces Alan Greenspan, who has stepped down after more than 18 years guiding the nation’s monetary policy. Bernake was confirmed by voice vote.

Washington Post: Federal Reserve Raises Interest Rate; Bernake Confirmed as Next Chairman

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Tax & Budget Talking Points; New Budget Blog

Jan 27, 2006 by Guest Blogger

The Fair Taxes for All Coalition has released new talking points on Congress' plan to cut the budget and pass new tax cuts. The talking points cover the new deficit projections, the possibility of extending capital gains and dividends cuts, and this year's new tax cuts.

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State-by-State Analysis of Income Inequality

Jan 26, 2006 by Guest Blogger

The Center on Budget and Policy Priorities and the Economic Policy Institute have released a study called "Pulling Apart: A State-by-State Analysis of Income Trends." The study examines income inequality and finds that the gap between the highest-income families and poor and middle-income families grew significantly between the early 1980s and the early 2000s. The study finds that during this time, the incomes of the bottom fifth of families grew more slowly than the incomes of the top fifth of families in 38 states.

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LIHEAP: Need Is Up, Funding Is Down

Jan 17, 2006 by Guest Blogger

Due to the GOP push for a 1 percent across-the-board cut on FY 2006 discretionary spending, funding for LIHEAP - the Low-Income Home Energy Assistance Program - is down to $2.16 billion, a significant decrease from last year's $2.18 billion funding level. This figure falls far short of the $5.1 billion authorized by the comprehensive energy law enacted last year, and also far short of the need that exists, particularly in northeastern states.

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Congress to Increase Debt Limit for Fourth Time In Four Years

Jan 10, 2006 by Matthew Madia

Last April Congress called for an increase in the debt limit -- the national debt is expected to hit $8,184 billion in mid-February -- however they have yet to act. Lawmakers are expected to take up the issue in February after voting on final tax and budget reconciliation bills, marking the fourth time during President Bush's presidency the debt limit has needed to be raised.

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$119 Billion Deficit in First Quarter of 2006

Jan 9, 2006 by Matthew Madia

The Congressional Budget Office released the Monthly Budget Review on Friday, in which they reported the federal budget deficit for the first quarter of 2006 as being $119 billion. This figure is fairly close to the shortfall seen in the first quarter last year.

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GDP Growth At 4.1 Percent

Dec 21, 2005 by Guest Blogger

The Commerce Department reported today the economy grew by 4.1 percent in the fourth quarter, despite surging energy prices. Business growth was slightly lower than the government had previously estimated it would be. This growth was attributed to high consumer demand, especially for cars, as well as business investment.

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Tax Gap Is The Highest It's Been In 46 Years

Dec 20, 2005 by Guest Blogger

The tax gap is the gap between personal income and adjusted gross income (AGI), and it is currently the highest it has been in 46 years worth of data analyzed by the Bureau of Economic Analysis.

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Congress Clears Katrina Tax Package

Dec 19, 2005 by Guest Blogger

On Friday, the House and Senate approved by unanimous consent a package of tax breaks (H.R. 4440) that are meant to help individuals and businesses in the Gulf Coast region. The Senate accepted the House's decision to exclude casino's and liquor stores from the tax measure, which provides a bonus depreciation deduction for property in the Gulf, as well as a carryback of net operating losses. Thte Joint Committee on Taxation scored the cost of the bill at about $7.8 billion over five years.

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CBO Releases Another Depressing Long-Term Outlook

Dec 16, 2005 by Adam Hughes*

The Congressional Budget Office released their Long-term Budget Outlook today, in which they noted Even if taxation reached levels that were unprecedented in the United States, current spending policies could become financially unsustainable. An evergrowing burden of federal debt held by the public would have a corrosive and potentially contractionary effect on the economy.

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