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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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FY 2011 Budget Fight Ahead

The major piece of unfinished business from the last session of Congress is the fiscal year (FY) 2011 budget. Even though FY 2011 started on Oct. 1, 2010, the federal government still does not have a budget and has been funded through a series of temporary continuing resolutions (CR) since last fall. It remains to be seen if both the Senate and hard-line fiscal conservatives in the House will sign off on a budget for the remainder of the fiscal year, once again raising the specter of a government shutdown.

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Why Baselines Matter

If you were diligently reading the news yesterday about the new House budget proposal, you might have been a little confused. It seemed like news outlets couldn’t agree on how much the House Budget Committee Chairman Paul Ryan’s (R-WI) plan for the FY 2011 budget actually cut:

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House GOP Learns Cutting Spending is Hard

Remember back in September of last year, when the House Republicans released the “Pledge to America,” stating their agenda should they win the House in coming election? If not, here was one line which stuck out to us: “we will roll back government spending to pre-stimulus, pre-bailout levels, saving us at least $100 billion in the first year alone....” Now that they are in control of the House, Republicans are quickly working to make good on that promise. Today, House Budget Committee Chairman Paul Ryan (R-WI) released their new spending plan for fiscal year 2011, which contains cuts of... $35 billion. Looks like it isn’t quite as easy to cut spending as the new House majority thought.

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This is What Happens When You Extend Unpaid-For Tax Cuts

'Martha's polishing the brass on the titanic.  It's all going down man...'

Yesterday, the Congressional Budget Office (CBO) – Congress' nonpartisan fiscal scorekeeper – released their revised budget and economic outlook for fiscal year (FY) 2011 through FY 2021. The most newsworthy element of the new estimates is this year's revised deficit projection. As most media outlets noted, Uncle Sam's predicted budgetary shortfall for 2011 went from just over $1 trillion to $1.5 trillion. Extension of the unpaid-for Bush tax cuts comprises almost the entire additional shortfall.

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First OMB PAYGO Scorecard Puts Congress $64 Billion in the Black. Wait, What?

Good news everyone! In 2010, according to a recent accounting by the Office of Management and Budget (OMB), the bills Congress passed reduced the deficit by $64 billion over the next ten years. Surprised? Thought this past year featured massive deficit-financed bills? That’s because the scorecard, which OMB keeps as part of statutory Pay-As-You-Go (PAYGO), does not include hundreds of billions in spending. Congress essentially told OMB to ignore a few key pieces of legislation, which, if included in the calculation, would bring the year’s cost to $820 billion over ten years.

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Fox News Health Care Reform 'Calculator' Spits Out Nonsense

Introducing Texas Instrument's new TI-Propaganda

How much will implementation of the Affordable Care Act's (ACA) provisions cost you as a taxpayer? If you want an accurate number, don't look to Fox News. Nick Kasprak over at the Tax Foundation's Tax Policy Blog recently provided a thorough takedown of the news organization's new health care reform "calculator", which is replete with faulty methodology, spelling errors, and meaningless graphics.

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Balanced Budget Amendment Would Impede Economic Recoveries

Over the past 30 fiscal years, the federal government has run a surplus only three times. In the past three years, the government has seen deficits totaling almost $3.5 trillion, and the Congressional Budget Office’s (CBO) baseline prediction shows deficits for at least the next decade. With such a history and with the recent rise of the Tea Party and its fiscally conservative contingent in Congress, it is unsurprising that balanced budget amendments to the Constitution are once again finding their way to the national agenda. While forcing Congress to balance the books through a constitutional mandate may be appealing to many fiscal hawks, a balanced budget amendment could impede economic recoveries following Wall Street meltdowns and other calamities.

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The Wrong Approach to the Deficit Could Imperil More than Just the Recovery

by Craig Jennings, OMB Watch, Jan. 24, 2011
When President Obama delivers the State of the Union address Tuesday, one topic he will likely devote many words to will be the nation’s finances. For months, we’ve heard calls from all sides to “rein in the deficit” – a deficit so massive that, if some politicians are to be believed, it may plunge the nation into another Dark Ages. If Obama echoes these unceasing cries coming from inside the Beltway and sets forth a budget plan designed to meet the needs of Washington politics and not the nation, he could imperil the nascent economic recovery and future growth while stifling public protections, the effectiveness of the federal workforce, and the economic well being of millions of families.

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New House Rules Will Increase Deficit, Underfund National Priorities

Whenever a party takes control of one or both houses of Congress, it exercises its prerogative to implement a flurry of new rules and practices. This is generally unremarkable, though in 2011, with the House of Representatives returning to Republican control, the changes are stirring up controversy. Despite claiming to fight for fiscal responsibility and transparency, by tweaking a handful of rules, the Republican majority will end up delivering the opposite.

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CBO: Repeal of ACA Will Explode Future Deficits

What's the opposite of well thought out and helpful public policy?

Here's an interesting piece of news out of the non-partisan Congressional Budget Office (CBO): the Republican bill to repeal the Affordable Care Act (ACA) will increase federal budget deficits "something in the vicinity of $230 billion" over the next ten years. What was that pledge the GOP made to the American people before the midterms? It included something about bringing down deficits, didn't it?

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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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