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 -- Mar. 24, 2008

National Debt -- Might Reach Limit by Election Day: A new CBO estimate of the projected national debt shows that the statutory debt limit might be reached by election day, rather than in 2009, per the previous estimate -- mostly due to expected decreases in corporate tax revenues. Under the "Gephardt" rule in the House, the debt ceiling increase in the budget resolution boosting the limit to $10.2 trillion goes into effect without a stand-alone vote. A Senate vote would still be required for a House bill raising the debt ceiling to become law.

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DAILY FISCAL POLICY REVIEW -- Mar. 21, 2008

Economy -- The Metastasizing Recession: Policymakers in Washington face the growing challenge of tracking the shifting contours of the nation's economic slowdown as they attempt to design legislative and administrative responses to it. "The economic downturn is seeping into new parts of the country that seemed insulated only months ago." Times. Graphs.
  • Unemployment Claims at Four-Year High:The number of Americans filing first-time claims for unemployment insurance rose last week and the total number on benefit rolls reached the highest since August 2004. Bloomberg

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Earmark Requests Shut Down House Web Site

Bill Allison over at the Sunlight Foundation has a great blog up about a report in Roll Call that the House Appropriations committee website was overwhelmed with requests for earmarks shortly before yesterday's deadline. Because the website crashed, the deadline has been extended until next week.

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GAO Report Examines Overuse of Supplemental Spending

In a recently released report, the Government Accountability Office (GAO) examined ten years of supplemental spending (FY 1997-FY 2006) and found not only a five-fold increase in the amount of expenditures funded through the supplemental process, but also that procedures that enable legislative deliberation are bypassed when Congress funds government operations through supplemental spending. Supplemental spending has become an alternative funding process, parallel to the normal annual appropriations process. This allows certain expenditures to elide close congressional and public scrutiny and allows Congress to escape debate over federal funding priorities.

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IRS: Stimulus Calculator & Payment Schedule

The IRS has put up on their website an online calculator to help you figure out what your stimulus rebate will be. They've also issued a calendar of when they will transmit and mail payments. IRS Stimulus Payment Schedule Last two SSN digits Payment will be transmitted Direct Deposit 00 through 20 May 2 21 through 75 May 9 76 through 99 May 16 Paper Check 00 through 09 May 16 10 through 18 May 23 19 through 25 May 30 26 through 38 June 6 39 through 51 June 13 52 through 63 June 20 64 through 75 June 27 76 through 87 July 4 88 through 99 July 11

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Bills Improving Federal Contracting Gain Momentum

In FY 2007, the federal government paid contractors about $420 billion to provide thousands of goods and services, but it had little insight into whether those companies were delinquent in paying their federal taxes, had broken contracting rules or laws, or if those firms paid top-level executives exorbitant levels of compensation. However, if several proposed bills become law, these obstacles to oversight and transparency will be greatly reduced. H.R.s 3033, 3928, and 4881 were approved by the House Oversight and Government Reform Committee the week of March 10, while H.R. 5602 and a companion Senate bill were introduced the same week.

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Budget Resolution: Recap and the Road Ahead

Late on March 13 and early in the morning of March 14, the House and Senate adopted $3 trillion budget resolutions for Fiscal Year 2009 by votes of 212-207 and 51-44, respectively. While the resolutions are similar in terms of broad policy outlines and priorities, they differ on a few major points, including the total amount of discretionary spending and whether to offset the cost of a one-year patch to the Alternative Minimum Tax (AMT).

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Budget Blog Book Review

Two Big Picture Books on Fiscal Policy A two-week congressional recess affords us the opportunity to take a big picture look at some big fiscal policy problems. And two recently published big picture books reviewed yesterday in the Washington Post and the New York Times seek to sharpen the focus on different aspects of that picture, though apparently with differing degrees of success. "Where Does the Money Go?: Your Guided Tour to the Federal Budget Crisis" by Scott Bittle and Jean Johnson (Collins, $16.95 in paperback) draws a rave from the Times (A Proposed Diet for the U.S. Budget):

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DAILY FISCAL POLICY REPORT -- Mar. 17, 2008

Economy -- Fed in Bailout of Bear: While the Bush administration resists and Congress contemplates fiscal policy options, the Fed took drastic steps to keep the housing sector crisis from spreading into financial institutions, with a temporary bailout out of Bear Stearns, an investment bank with massive subprime mortgaged-backed asset exposure. The Fed meets again tomorrow; speculation centers on a federal funds rate cut of 50-100 bp.
  • Statement this morning by President Bush
  • Brookings Paper: Policy Options
  • NYT Editorial

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DAILY FISCAL POLICY REPORT -- Mar. 14, 2008

Budget Resolution -- The Final Lap
  • House: The House adopted its budget resolution by 212-207 after rejecting the GOP substitute amendment by a vote of 157-263, which 38 Republican members opposed -- it sought to reduce mandatory spending by $412.4 billion over five years. The Progressive Caucus budget lost 98-322; the Black Caucus bill was rejected 126-292.
  • Senate: After 15 hours of vote-a-rama, the Senate passed its own resolution,

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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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