Federal Tax 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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more news

Long-term fiscal imbalance

Jul 21, 2003 by Guest Blogger

Jagadeesh Gokhale and Kent Smetters argue that short-term deficit projections are inadequate to address the growing fiscal imbalance in Medicare and Social Security. At the very least, the OMB should return to 10-year projections rather than their current 5-year horizon.

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Interpreting the Return to Budget Deficits

The White House Office of Management and Budget (OMB) recently projected that the US federal budget will see an unprecedented $691 billion deterioration in its budget situation – moving from record surpluses of $236 billion in 2000 to record deficits of $455 billion in 2003. This paper outlines some of the basic characteristics of the current situation and places them in the context of recent history.

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No Internet Sales Tax

Jul 17, 2003 by Guest Blogger

States can't seem to catch a break...

Internet Taxation Effort Stalled (TechNews.com)

More than three dozen states seeking congressional approval for their plan to tax all Internet sales may have missed their chance this year.

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Federal Deficit Over $450 Billion

Jul 15, 2003 by Guest Blogger

OMB today released its mid-session review, which updates budget and deficit projections.

The deficit is now projected to be $455 billion (4.2% of GDP) for FY 2003, and $475 billion next year.

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Estate Tax Factsheet

Jul 15, 2003 by Guest Blogger

Here's some information on the estate tax...

Download file

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Budget Woes Trickle Down

Jul 15, 2003 by Guest Blogger

"Hard-Hit State and Local Governments Say Bush and Congress Left Them to Make Cuts, Raise Taxes"

Interesting article in the Washington Post that links federal tax cuts to the state fiscal crises in Massachusetts.

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OMB Watch Comments on EITC "Pre-Certification"

Jul 14, 2003 by Guest Blogger

The IRS is planning a "pilot" project to require "pre-certification" of EITC recipients beginning in August 2003. The project is targeted at filers who claim children who are not their own. Comments on the form that requires documentation or affidavits proving residency of children with the claiming tax filer for six months of the tax year were due July 14. Comments on the overall process are can be made through December 31, 2003. See the IRS announcement for more information.

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LOW-INCOME FAMILIES STILL BEING HELD HOSTAGE

Extension of the child tax credit remains stalled with the House determined to add more deficit-deepening tax cuts.

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From the Tax Policy Center

Jul 10, 2003 by Guest Blogger

Here's the latest from the Urban-Brookings Tax Policy Center:

TAX EVASION, IRS PRIORITIES, AND THE EITC Leonard E. Burman Testimony to United States House of Representatives

THE AMT: PROJECTIONS AND PROBLEMS Leonard E. Burman, William G. Gale and Jeff Rohaly TAX NOTES, July 7, 2003

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Economy and Jobs Watch

This past week, the Federal Reserve Board (Fed) lowered a key interest rate, suggesting that the Fed is not confident about the quality of the “economic stimulus” in the recently passed tax cut package.

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