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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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No Budget is Better than the Senate Budget

The budget resolution approved last week by the Senate Budget Committee has nothing good to recommend it. It will hand more tax breaks to the extremely wealthy while slashing assistance to low-income working families and children. Funds for education, housing, the environment and a host of other services that benefit ordinary Americans will also be cut. Ironically, in spite of all these cuts, the committee?s resolution will increase -- not reduce -- the deficit.

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Senate's Budget

The Senate Budget Committee has reported out a budget which includes includes $80.6 billion in tax cuts which would have reconciliation protection. Of this, around 3 billion is for repeal of the estate tax in 2009. The low cost figure is likely due to the fact that most of the revenue effects would take place outside of the 5 year budget window in 2010. The remaining $77 billion is used for the 3 "middle class" tax cuts - child credit, 10% bracket, and marriage penalty.

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CBO Account-level Data on Government Spending, 2005-2014

The 2005 Budget submitted by the president last week contained only partial information for spending over the next 5 years. The Congressional Budget Office (CBO) has since developed estimates of costs contained in the president's FY2005 budget covering the period from 2005 to 2014.

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CBO deficit numbers

The CBO has released their analysis of the president's budget. They find that the presiden't proposals would add $737 billion to the deficit over ten years.

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Proposed Changes Would Create Unbalanced, Flawed Budget Process

The president’s FY2005 budget contains several proposed changes to the congressional rules governing the process by which federal budget policy is legislated. These rules could have dramatic consequences for spending and tax policy over the next 5 years.

While, admittedly, changes in the budget process are not the most exciting of issues, the proposed process changes would likely cause large drops in domestic investments and a continuation of current tax policy and massive federal deficits. Download Full report (.pdf)

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Upper-Income Tax cuts and jobs

President Bush is arguing that reducing the top marginal rate would "fuel" job growth.

The problem with using the top marginal tax rate as a tool to cut taxes on "small" businesses is that 1) it misses most small businesses - less than 4% of businesses make enough to be taxed at the top individual rate, and 2) it reduces taxes on upper income individuals regardless of the source income - thus it does not target businesses efficiently.

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2005 Budget update

Update in the Post about the current budget debate:

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OMB Account-level Data on Government Spending , 2005 Budget

OMB Watch - OMB Account-level Data on Government Spending , 2005 Budget

The 2005 Budget submitted by the president last week only contained partial information for spending over the next 5 years. The spending proposals for specific programs are contained in a 1,000 page Office of Management and Budget (OMB) computer run that was provided to some members of Congress, but was not included in the budget documents originally made available to the public.

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OMB Account-level Data on Government Spending, 2005-2009

The 2005 Budget submitted by the president last week only contained partial information for spending over the next 5 years. The spending proposals for specific programs are contained in a 1,000+ page Office of Management and Budget (OMB) computer run that was provided to some members of Congress, but was not included in the budget documents originally made available to the public.

The Center on Budget and Policy Priorities has obtained these data and shared them with OMB Watch to post on our website.

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A Government Rollback

It is no secret that, after contributing to the deficit by huge tax cuts, a primary focus of this Administration now is decreasing the deficit by cutting spending, while continuing to reduce revenue by way of tax cuts. This will require massive cuts and eliminations of programs and services. It augurs a historically significant rollback in federal spending that if unchecked will fulfill conservative promises to reduce government to the barest of minimums.

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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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