New Posts

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 on the Crock That Is Supply Side Economics

This post is just to hammer the point further about much of a sham supply side economics really is. The CRS memo, discussed earlier by Matt, was requested as "a discussion of the dynamic model used by the Treasury Department," and includes a comparison of various models used in two Treasury reports. ("Dynamic scoring" is a method by which future tax revenues are calculated based on different economic conditions due to changes in tax policies.)

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Bush Still Working to Slash Safety Net

What Matt says. I can't believe they're going to trying to kill Social Security again. There is, however, a new wrinkle this time around - President Bush wants to put Medicare and Medicaid on the chopping block as well. Didn't the Anti-Safety Net coalition learn its lesson last time - that Americans overwhelming do not support Social Security privatization? From today's WaPo:

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Social Security Privitization Back Again?

Congress is obsessed with really bad ideas. Take this op-ed from the Campaign for America's Future. It puts it together that if the Republican grip on Congress gets tighter this November, they may bring up Social Security privatization once again.

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Ask, Receive

Earlier, Matt asked: [A]ny readers out there want to calculate how much lower the deficit would have been if the 2003 capital gains and dividends tax cuts hadn't been in effect? Well, I'm not sure about the capital gains and dividends cuts, but the Center on Budget and Policy Priotities informs us that:

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CBO Forecasts Big Deficit, Just Less Of It

The Congressional Budget Office (CBO) has just lowered its estimate of the Fiscal Year 2006 budget deficit by about $111 billion. So for now, FY 2006, which ends on September 31st, will probably result in a budget deficit of $260 billion. The CBO estimate puts the deficit about $30 billion lower than the Office of Management and Budget (OMB), which revised its estimate in July. See here, here and here for more information on OMB's gimmicky deficit numbers.

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Contracts and Grants Disclosure Bill Fast-Tracked

The Senate Committee on Homeland Security and Governmental Affairs unanimously passed the Federal Funding Accountability and Transparency Act (S. 2590) on Aug. 8. The bill would create a searchable website that provides information about all federal spending, including government contracts and grants. Following the quick committee action, Sens. Susan Collins (R-ME) and Joseph Lieberman (D-CT), the committee's chair and ranking member respectively, jointly requested that the bill be fast-tracked and brought to the Senate floor for a unanimous consent vote.

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Economists Rethink Minimum Wage

Ezra Klein, writing on Tapped, points us to this Bloomberg article about an emerging consensus among economists regarding the minimum wage: Aug. 7 (Bloomberg) -- Prominent economists of all ideological persuasions long believed that raising the U.S. minimum wage would retard job growth, creating unintended hardship for those at the bottom of the ladder. Today, that consensus is eroding, and a vigorous debate has developed as some argue that boosting the wage would pull millions out of poverty.

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Senate Defeats Estate Tax Giveaway...Yet Again

The Senate voted last week to reject a tax and wage package dubbed the "trifecta" that would have slashed the estate tax permanently, increased the minimum wage modestly, and extended a broad set of tax breaks. The bill, passed by the House last month, also contained a number of "sweeteners" to entice targeted senators to vote for the bill. "What I will do over the next month [is] assess where America is," Frist said. "And what I would very much like to do or to have happen is ... pressure from the American people. If I felt that, I would use that procedural option in bringing these back."

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Safer Chemicals Provision Improves Federal Chemical Security Bill

The House Homeland Security Committee on July 27 passed what is being hailed by public interest groups as a substantially improved chemical security bill, the Chemical Facility Anti-Terrorism Act of 2006 (H.R. 5695). The bill, sponsored by Rep. Daniel Lungren (R-CA), establishes security requirements for our nation's chemical facilities, something that critics charge is long overdue. The original bill, however, had serious flaws, among them failing to require companies to use safer technologies and preempting states and localities from establishing their own security programs.

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Renewed Call for FOIA Improvement Legislation

Experts testified last month at a subcommittee hearing of the House Government Reform Committee that agencies still have a long way to go toward improving their handling of Freedom of Information Act (FOIA) requests. Their testimony, along with troubling findings from a congressional report on FOIA, may help move reform legislation forward.

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Resources & Research

Living in the Shadow of Danger: Poverty, Race, and Unequal Chemical Facility Hazards

People of color and people living in poverty, especially poor children of color, are significantly more likely...

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A Tale of Two Retirements: One for CEOs and One for the Rest of Us

The 100 largest CEO retirement funds are worth a combined $4.9 billion, equal to the entire retirement account savings of 41 percent of American fam...

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