Federal Budget Policy

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 -- June 10, 2008

Jun 10, 2008 by Dana Chasin

Taxes -- House Vote on Unemployment Benefit Extension: The House is expected to vote later this week on H.R. 4934, a bill to extend unemployment insurance for workers who have exhausted their benefits by up to 13 weeks in every state as well as an additional 13 weeks in states with higher levels of unemployment. The bill's language defines "higher levels" as a seasonally adjusted 6 percent total unemployment rate or a 4 percent insured unemployment rate. The bill is expected to cost about $14 billion, and the funding levels are not offset in the bill, raising possible "pay-go" concerns.

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Military Wages

Jun 9, 2008 by Craig Jennings

Congress has sent the president a bill that would, in addition to forcing free-riding federal contractors to pay payroll taxes, "allow soldiers receiving combat pay to have their money counted as income for the purposes of the Earned Income Tax Credit." (BNA email) I realize that we blow a lot of cash on the military, but does it strike anyone as odd that some Americans getting shot at in a combat zone in service of their country are paid so little that they qualify for EITC?

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DAILY FISCAL POLICY REPORT -- June 9, 2008

Jun 9, 2008 by Dana Chasin

Economy -- Gas Prices Hit National Average of $4: Gasoline prices reached a national average of $4 a gallon for the first time over the weekend, adding more strain to the economy. "This crisis really impacts those who are at the economic margins of society, mostly in the rural areas and particularly parts of the Southeast," said Fred Rozell, retail pricing director at the Oil Price Information Service. Gas prices have risen a dollar a gallon since January 1. NY Times.

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Workers See Fewer Hours, More Weeks Unemployed

Jun 6, 2008 by Craig Jennings

As Dana noted in this morning's daily report, the unemployment numbers released this morning were bad enough to put unemployment insurance (UI) benefits extension back in play for the domestic spending section of the FY 08-09 war supp. But the past couple of weeks have seen the release of a couple of other data points that should increase concern among lawmakers that the U.S. labor force has come into sour times.

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DAILY FISCAL POLICY REPORT -- June 6, 2008

Jun 6, 2008 by Dana Chasin

Unemployment -- Monthly Rate Jump Highest Since Feb. 1986: The Bureau of Labor Statistics reported this morning that the nation's unemployment rate rose a half of a percent, from 5.0 in April to 5.5 percent in May, the fastest rise in 22 years, as 861,000 joined the ranks of the unemployed. Meanwhile, those with jobs have seen their real wages shrink this past year: hourly earnings have risen 3.5 percent, below the pace of inflation, which is running at about 4 percent. NY Times.

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Nussle on Passage of FY09 Budget Resolution

Jun 5, 2008 by Dana Chasin

Translation -- Corrects for Hypocrisy, Hyperbole Washington, DC — Today, OMB Director Jim Nussle issued the following statement on Senate passage of the FY09 Budget Resolution: It is disappointing that Democrats in Congress are repeating last year's tax and spend game plan. The Democrat's budget resolution would result in the largest tax increase in our nation's history, adds $25 billion in new spending this year and $209 billion more over 5 years, while failing to address the looming entitlement crisis. Translation:

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House Approves FY 2009 Budget Resolution

Jun 5, 2008 by Craig Jennings

By a vote of 214-210, the House has approved a spending plan for FY 2009. The $3 trillion budget, adopted by the Senate yesterday, includes $1.013 trillion in discretionary spending and is the first budget to be passed in an election year since 2000.

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DAILY FISCAL POLICY REPORT -- June 5, 2008

Jun 5, 2008 by Dana Chasin

Budget -- Senate Adopts FY09 Resolution: In a near-party line vote, the Senate passed a $3.03 trillion budget blueprint yesterday, 48-45. The resolution moves over to the House, which is expected hold a vote on it today. The thorniest long-term fiscal policy questions (about the AMT, extending the Bush tax cuts, etc.) will probably be deferred to the next Congress and the new president, but the appropriations process will at least start by regular order, at least in the House. Statement of Senate Budget Committee chair Kent Conrad (D-ND).

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Media Coverage of Obama-Coburn Bill

Jun 5, 2008 by Adam Hughes*

Below are blog and news stories discussing the introduction yesterday of a new transparency bill cosponsored by Sens. Barack Obama (D-IL) and Tom Coburn (R-OK). Given the bill was introduced at the same time as Obama was wrapping up the Democratic nomination for president, the coverage was not bad.

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Senate Adopts FY 2009 Budget Resolution

Jun 4, 2008 by Craig Jennings

By a 48-45 vote, the Senate approved a $3.03 trillion spending blueprint for FY 2009. The resolution's $1.013 trillion domestic spending level tops the president's request by some $24.5 billion. CQ ($- sorry): The conference agreement on the budget blueprint was adopted 48-45 on a largely party-line vote. To accommodate the absences of hospitalized Sens. Edward Kennedy, D- Mass., and Robert C. Byrd, D-W.Va., Republican Sens. John W. Warner of Virginia and Pete V. Domenici withheld their "no" votes, pairing with the ailing Democrats.

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