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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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Press Views on Budget Resolution Off-Base on Offsets?

The Center on Budget's Statement on the Senate Budget Committee Plan today scolds commentators for scolding Committee chair Kent Conrad (D-ND) for failing to specify the offsets for program expansions and tax-cut extensions assumed in his budget resolution mark. This reflects the press'

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Preview of Sen. Conrad's Budget Resolution Mark

Senate Budget Committee chair Kent Conrad (D-ND) provided reporters with some details yesterday about the budget resolution draft that his committee will mark up today and tomorrow. Some features are good news:
  • priorities -- Conrad's draft provides a $16-18 billion increase in domestic appropriations over Bush's proposal for FY 2008, with substantial increases in education, veterans, and community policing programs, and, on the mandatory spending side, $50 billion for SCHIP over the next five years

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Congress Set to Consider Largest Supplemental Funding Request in History

Congress will soon begin work on the largest supplemental funding bill ever requested — $99.6 billion — to continue to fund the wars in Iraq and Afghanistan, along with other items. The request was submitted to Congress by the president in early February, when the FY 2008 budget was released. If approved, this request would add $93.4 billion to the $70 billion Congress already appropriated for the "war on terror" in FY 2007 and bring the total cost of the wars to over $500 billion.

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Legislators Introduce Competing Entitlement Commission Proposals

The 110th Congress is barely two months old, but several lawmakers have introduced proposals to create "entitlement commissions" that would be charged with formulating policies to address projected long-term fiscal challenges in Social Security and Medicare. The plans have surfaced just as there are increasing concerns on Capitol Hill about the fiscal gap — that is, the amount of spending reduction or tax increases needed to keep the national debt as a share of gross domestic product (GDP) at or below the current ratio. There are currently three plans:

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    War Spending Keeps Climbing, Says CBO

    A new round of defense and emergency appropriations will raise the total amount of money spent on the wars in Afghanistan and Iraq to nearly $750 billion by the end of FY 2008, according to a recent report by the Congressional Budget Office (CBO).

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    CBO Estimates Bush Budget Fails to Balance in 2012

    Administration projections that its FY 2008 federal budget proposal would yield a surplus by FY 2012 were contradicted today by the Congressional Budget Office (CBO) scoring of the President's plan. The bottom lines:
    • the Bush budget will fail to balance in 2012 by $9 billion (see Table 1); CBO's estimate projects $119 billion less in revenues in 2012 than does OMB's
    • domestic discretionary spending for FY 2008 is scored at $932 billion (Table 4), up from the President's proposed $928.9 cap

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    Resolution Tea-Leaf Reading: The Conrad Lexicon

    If you found Senate Budget Committee chair Kent Conrad's comments on the Budget Resolution quoted in our blog yesterday inscrutable, you are not alone. Policy wonks, journalists, lobbyists, industry groups, and aides have spent much of the past two days trying to interpret the meaning of Conrad's promise, "no tax rate increases," given his broader promise of balancing the budget by 2012. So we offer an abridged Conrad Lexicon, to assist in parsing the delphic utterance:

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    War Supplemental Mark-Ups "Targeted"

    Coming to a chamber floor near you! CQ($): The House Appropriations Committee has set a "target date" of March 7 to mark up the fiscal 2007 supplemental measure, Rep. David R. Obey, D-Wis., the committee chairman, said Wednesday. The goal is to bring the bill to the floor the following week. The Senate Appropriations Committee intends to mark up its own version of the bill March 20, according to its chairman, Robert C. Byrd, D-W.Va. Senate Majority Leader Harry Reid, D-Nev., has said he would like to have the bill on the floor the last week of March. Last week of March - mark your calendars.

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    Democrats to Reach Balanced Budget by Different Means

    The broad outlines of the Democrats' FY 2008 Budget Resolution strategy are beginning to emerge. This much is now clear, per comments this week by House and Senate Budget Committee chairs Rep. John Spratt (D-SC) and Sen. Kent Conrad (D-ND):
    • the BR will set total discretionary spending above the $929.8 billion cap proposed by President Bush
    • it will provide for a balanced buget by FY 2012, by increasing revenues "without any tax rate increases"; instead, it will "broaden the base and keep rates low"

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    Budget Resolution Process: Views and Estimates

    This week, the House and Senate authorizing committees start drafting their "Views and Estimates" letters, conveying their positions on the President's FY 2008 budget provisions for the programs that fall under their jurisdiction. The committees must submit their letters to their respective budget committees no later than six weeks after the president's budget release, this year, March 19. The budget committees may, however, request a given authorizing committee to submit its letter by an earlier date.

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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