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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DAILY FISCAL POLICY REPORT -- April 27, 2008

Stimulus 1.0 -- First Checks Going Out Today: The first of 130 million tax "rebate" checks provided under the first stimulus package signed in February will be going out today, earlier than previously announced. The rebates - up to $600 for an individual, $1,200 for a couple and an additional $300 for each dependent child are the biggest part of $168 billion stimulus. Story.

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Fiscal Policy Final Exam

OK, folks, it's finals time. Two-part question. The following statement was propounded by former CBO Director Douglas Holtz-Eakin on a recent conference call in his capacity as economic adviser to one of the three presidential candidates.

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DAILY FISCAL POLICY REPORT -- April 25, 2008

Economy -- Home Sales, Values Plunge: A key cause of the economic slowdown worsened last month as the Departments of Commerce and Housing and Urban Development reported yesterday that home sales fell to their lowest levels in over 16 years. Home sales have dropped 36.6 percent in the last twelve months. Home prices are down 11.3 percent during the same period. Among the fiscal impacts of the housing sector contraction: state coffers suffer as property tax revenues shrink along with values and foreclosures reduce the net number of homeowners. Sad Stats.

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DAILY FISCAL POLICY REPORT -- April 24, 2008

Contracting -- House OKs Three Accountability Bills: The House voice voted three bills yesterday requiring those seeking federal contracts to disclose information about their companies:
  • Close the Contractor Fraud Loophole Act (H.R. 5712) -- requiring prosective federal contractors disclose their involvement in administrative and legal proceedings initiated by the federal government

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OMB Watch Statement on FY 2009 Budget

OMB Watch released a statement on April 22 on the FY 2009 budget resolution negotiations. The statement urges both House and Senate negotiators to uphold the fiscally responsible principles promised by Democrats when they took over the majority in 2006. A key aspect of the ongoing budget negotiations is whether to offset the $70 billion cost of a one-year fix to the creep of the Alternative Minimum Tax (AMT). The House version of the resolution offsets the costs while the Senate does not.

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DAILY FISCAL POLICY REPORT -- April 23, 2008

Supplemental -- Hoyer Expects Bill Late Next Week: Amid reports that congressional Democrats haven't settled on a strategy yet regarding the president's $108 billion war spending supplemental request, House Majority Leader Steny Hoyer (D-MD) told reporters yesterday that the House and Senate could take it up on the floor by the end of next week. "Democratic leaders have repeatedly said that, in the end, US troops in the field will be funded. But expectations are high that finally Congress will be able to extract a significant policy concession for that money." Story.

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DAILY FISCAL POLICY REPORT -- April 22, 2008

Earmarks -- Pelosi OKs DOJ Probe of Rep. Young Conduct: In a reverse case of separation of powers, House Speaker Nancy Pelosi (D-CA) said yesterday that she concurs with last week's Senate vote referring the Rep. Don Young (R-AK) Coconut Grove improper earmark allegations to the Department of Justice. "The Speaker believes this a matter for the House ethics committee to look into, but she has no intention of standing in the way of the [Senate] bill as it moves forward to the president's desk," said Pelosi spokesman Nadeam Elshami.

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DAILY FISCAL POLICY REPORT -- April 21, 2008

In Congress This Week -- Farm Bill, Contracting Reform:
  • Farm Bill -- Following a one-week extension of the farm bill signed at the end of last week, Senate and House conferees plan to resume negotiations Tuesday, April 22 to reach a compromise on the five-year package which would renew U.S. agricultural programs. The sticking point remains finding $10 billion in new revenues to offset new spending in the bill.

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Earmarks for Me, But Not for Thee

Hurling invective at earmarks and deriding them all as wasteful "bridges to nowhere," is a popular theme these days. However, as Sen. John McCain (R-AZ) has recently demonstrated, adopting a pox-on-all-earmarks position can quickly dissolve into a cafeteria-style earmark policy: "I like this earmark and this earmark, but not that one over there."

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DAILY FISCAL POLICY REPORT -- April 18, 2008

Economy -- 9 in 10 Americans Negative on Economy: A Washington Post-ABC News poll shows that nine in 10 Americans -- including a wide majority of Republicans -- now give the economy a negative rating, with a majority saying it is in "poor" shape, the most to say so in more than 15 years. Republicans are even sour about the efficacy of the stimulus tax rebate, with 68 percent saying it will fail to abate the slowdown, an increase of 21 points since February. Story.

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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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