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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How Big of a Joke is Our Tax System?

Monkeys on Bikes

Anyone with a cursory knowledge of our current tax code can tell you that it is broken. According to the Committee for a Responsible Federal Budget (CRFB), which posted an interesting piece this morning on the need for comprehensive tax reform, our tax system "is inefficient, distorts behavior, stifles economic growth, and raises insufficient revenue to fund current or projected levels of government spending." CRFB included several suggestions for the President's Economic Recovery Advisory Board (PERAB), which was due to release a set of publicly generated recommendations on reforming the tax code today, but postponed the release until after the holidays.

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Pomeroy Estate Tax Bill Passes House

The Estate Tax Love Boat

As expected, the House brought up the Pomeroy estate tax bill this afternoon, and the legislation passed by a narrow score of 225 to 200. The bill passed mainly along partisan lines, but 26 Democrats joined the Republican caucus in opposition to the measure. Nine House members did not vote. With passage by the House, the bill now has to make it through the gauntlet that is the Senate.

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OMB Watch Releases New Recovery Act Database

OMB Watch just released a beta version of a new database on FedSpending.org that gives the public improved access to and searchability of Recovery Act recipient report data. The database allows users to search the 160,000 reports from recipients, showing almost $159 billion in spending, which we downloaded from Recovery.gov.

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OMB Watch Launches Recovery Act Data Tab on FedSpending.org

WASHINGTON, Dec. 3, 2009—Today, OMB Watch released a beta version of a new database on FedSpending.org that gives the public improved access to and searchability of Recovery Act recipient report data. The database allows users to search more than 160,000 reports from recipients of almost $159 billion in Recovery Act contracts, grants, and loans awarded between Feb. 17 and Sept. 30.

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Non-Newsworthy CBO Recovery Act Report is Big News

In a non-exciting turn of events, a routine report from the Congressional Budget Office, Congress's non-partisan budget analysis arm, has set off another round of fighting over Recovery Act job creation.

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House Set to Vote on Pomeroy Estate Tax Bill

The Biltmore Estate

The House plans to take up estate tax reform as early as tomorrow with a vote on Rep. Earl Pomeroy's (D-ND) Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009 (H.R. 4154). The Pomeroy bill would permanently extend current estate tax law at a $7 million exemption for couples at a 45 percent rate. Without congressional action this year, the estate tax will expire in 2010 and then come back in 2011 under its pre-Bush tax cut levels of a $2 million exemption for couples at a 55 percent rate. OMB Watch has submitted a statement of support to Rep. Pomeroy's office, and several other non-profits have come out with reports to back up the legislation.

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The IRS Gets Serious about Tax Enforcement

On Nov. 17, the Internal Revenue Service (IRS) announced that some 14,700 taxpayers had taken part in its recently concluded tax amnesty program by coming forward to report previously undisclosed income hiding in foreign bank accounts. The figure represents a near doubling of the original estimate of 7,500 taxpayers the IRS provided at the end of the voluntary disclosure program. Credited in part for the success of the tax amnesty program is the Obama administration's larger emphasis on tax enforcement. With a beefed up IRS enforcement budget, new tax treaties with countries that once acted as tax havens, and stricter tax haven legislation in the works on Capitol Hill, the U.S. is starting to get serious about international tax enforcement.

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CBPP Report Brings Clarity to Recovery Act Debate

A new report by the Center on Budget and Policy Priorities makes five key points about the Recovery Act that should be repeated over and over, as opponents of federal aid to victims of the Great Recession dig trenches in preparation for combating future relief.

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After the Hearing: Notes on Stimulus Oversight

As I mentioned in my post yesterday, the House Oversight and Government Reform Committee held its first stimulus oversight hearing in months today, this one focused on reviewing the first round of recipient reporting under the Recovery Act. The hearing featured testimony from Earl Devaney, Chairman of the Recovery Board, Gene Dodaro, Acting Comptroller General of the Government Accountability Office, and undersecretaries from the Departments of Education and Transportation. Here's a quick breakdown of the few news nuggets from Dodaro and Devaney in today's hearing:

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House to Hold Recovery Act Oversight Hearing Tomorrow

In case it wasn't clear in my last post, tomorrow, Nov. 19, the House Oversight and Government Reform Committee will be holding a stimulus oversight hearing. It will be the Committee's fifth Recovery Act hearing, the first serious stimulus oversight hearing in Congress since this past July. The hearing, called "Tracking the Money: How Recovery Act Recipients Account for Their Use of Stimulus Dollars," has the usual cast of characters, in that both Earl Devaney, Chairman of the Recovery Board, and Gene Dodaro, Acting Comptroller General of the Government Accountability Office, will both be testifying, along with representatives from the Departments of Transportation and Education. Hopefully the hearing will be better than the last Congressional hearing on the Recovery Act, which wasn't all that useful.

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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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