The House and Senate negotiators have reached agreement on the FY 2010 budget resolution. The resolution is expected on the floor of both chambers by tomorrow, marking the 100th day of President Obama's administration. Overall, the compromise fulfills many of Obama's top priorities, including reducing the nation’s dependence on foreign oil, improving education, reforming health care all the while reducing the deficit and cutting taxes, mainly for the middle class.

Over the years, Congress has made a number of exceptions in the tax code, ostensibly to encourage certain behavior by certain individuals or corporations. For example, homeowners can deduct from their federal income taxes the interest paid on their mortgage. Health insurance as a benefit by employers are not taxed as individual income. Had the federal government not allowed the mortgage interest deduction or employer-provide health insurance exemption, the Treasury would have seen about $184 billion (67.0 and 116.8, respectively) in more revenues in 2008 than it did.

April 15. Tax Day. Woohoo! (Sometimes it helps to cheer things you might not like.) Although all most many people are not looking forward to today, it has come nonetheless, as it does every year. And while you really can't avoid paying taxes each year, you can do something today to learn more about what those tax dollars are being spent on. Ordinarily this would be a difficult project involving sifting through budget books and deciphering complex spending tables. Luck for you the National Priorities Project (NPP) is on the job.