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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Budget Process in the Service of Tax Cuts

It is important to remember the magnitude of the federal budget process on the outcome of community results. While budget process issues are often arcane and sometimes difficult to determine the affects on results, in the case of several of the president’s proposals, the purpose is very clear—to make tax cuts easier to pass and expansion of government services more difficult.

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The Misleading 2005 Budget

It’s hard to know how much emphasis should be put on the president’s 2005 Budget. On one hand, it lays out the president’s main policy objectives – mainly tax cuts for upper income individuals, increases in defense spending, and real cuts for many domestic services. On the other hand, the cost estimates, deficit forecasts, and other analyses are fundamentally misleading.

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OMB?s Revised Cost of Medicare Prescription Drug Benefits Raises Questions

During last year’s debate on the Prescription Drug and Medicare Improvement Act of 2003, Congress used an outlay cost estimate of $395 billion for the new program. However, in the president’s 2005 budget, the 10-year outlay cost was estimated to be $534 billion – 35 percent greater than the initial estimate. See Table S-13, Page 387, 2005 budget..

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2005 Federal Budget Continues Fiscal Decline

OMB Watch has released a new report entitled "2005 Federal Budget Continues Fiscal Decline."

The report finds that even if we take the numbers in the budget at face value, there is considerable fiscal decline in the federal budget, including:

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2005 Federal Budget Continues Fiscal Decline

This Tax and Budget Staff Note examines the impact of the President’s budget on federal revenue and on the longer-term fiscal situation. The final section offers some of the implications of the recent fiscal decline. Download full report (.pdf)

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$1.3 trillion revenue reduction

Looks like the administration is pushing for yet another trillion dollar reduction in revenue...

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10 trillion dollar turnaround

The Century foundation has just released a report entitled "How the Federal Budget Forecast Went From $5 Trillion in the Black to $5 Trillion in the Red In Just Two and a Half Years," by Bernard Wasow.

The report shows how we went from record surpluses to massive deficits.
 

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And Onward to the Budget Battles Ahead

President Bush's FY 2005 budget will be released on Monday, Feb. 2 with the promise of a difficult budget process ahead.

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The Budget for 2004 is Finally Done

Just in time for the start of the Year of the Monkey, on Thursday, Jan. 22, the Senate passed the omnibus conference report (HR 2673) which was approved by the House a month ago.

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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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more resources