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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House Tax Vote: Fiscal Insanity Cloaked As Fiscal Responsibility

Today the House pushed through a $56 billion tax reconciliation bill, culminating what has been a month of illogical and hypocritical voting. This $56 billion tax reconciliation bill comes on the heels of a nearly $50 billion budget reconciliation bill, which ruthlessly slashed spending on everything from the food stamp program to Medicaid. It is no wonder Rep. David Obey (D-WI) said that House actions "makes Mr. Scrooge look like Mother Teresa." The bill passed 234-197; three Republicans voted against the bill and nine Democrats voted for it. Those Democrats were Reps.

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House Passes Major Tax Measures Yesterday

The House passed a number of tax bills yesterday. In total, they voted to trim $94.5 billion from federal revenue over five years. As Concord Coalition executive director Robert Bixby aptly put it in this Washington Post article, "I don't think it makes any sense to go through all the difficulty they just went through with the budget-cutting bill, then give it all back in tax cuts. If they want to cut taxes, fine, but they are going to have to cut spending by at least that much to help the deficit, and clearly they are not willing to do that. They have to start looking reality in the face."

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Temporary Victory for Wolf in Tax Bill

Rep. Frank Wolf (R-VA) has pursuaded the House GOP leadership to put forward a Hurricane Katrina tax bill that exempts some businesses in the Gulf Coast from receiving tax breaks. According to a Ways and Means Committee summary of the bill, the "Gulf Opportunity Zone" restoration tax incentives will not be extended to country clubs, liquor stores, massage parlors, private or commercial golf courses, racetracks, tanning salons, or "facilities used for gambling."

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Conservatives' Misgivings Could Complicate Negotiations

The House will get to work on the tax reconciliation bill when they return to D.C. the week of December 5. Vast differences between the House and Senate versions of the tax bill already threaten to impede conference negotiators, and in what promises to further complicate the situation, House GOP members appear to be split over providing excessive tax breaks to businesses in the Gulf Coast.

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CRS Estimates Ten Year Cost of Tax Cut Extension

A recent Congressional Research Services report has estimated that extending the '01, '03, and '04 tax cuts will cost the Treasury $2.286 trillion over 10 years. The CRS cost estimate was based on Congressional Budget Office estimates and calculations by the CRS, according to the report.

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Tax Cut Measure Guarantees Increasing Deficits

The House of Representatives will return to session next week after a two-week Thanksgiving break, with the first item on its agenda being a bill to cut taxes--primarily for high-income Americans--by an additional $56 billion. When combined with its companion reconciliation spending bill, which barely passed the House in the early hours of Nov. 18, the bill will actually increase deficits over the next five years - directly contradicting the original intent of the reconciliation process.

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Cunningham Is Out: One Fewer Vote For Budget & Tax Bills

As you are likely aware, yesterday Rep. Randy ''Duke'' Cunningham (R-CA) pleaded guilty to conspiracy and tax charges and resigned from office. Cunningham admitted to taking $2.4 million in bribes to steer defense contracts to conspirators. He entered pleas in U.S. District Court to charges of conspiracy to commit bribery, mail fraud and wire fraud, and tax evasion for underreporting his income in 2004.

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The Disappearing Act

Following up on a previous blog posting regarding Sen. Tom Harkin's (D-IA) amendment to the reconciliation tax bill yesterday, it appears that some of his original supporters deserted him during the actual vote. His amendment, which was defeated 50-46 would have increased the amount appropriated to carry out programs under the Community Services Block Grant Act. It failed despite the fact that fifty-eight Senators signed a letter November 9 stating their support for upholding CSBG funding at $637 million in negotiations with the House on the Labor/HHS bill.

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Hypocracy Reigns Supreme In The House

After Republicans repeatedly painted their efforts to cut programs for low- and middle-income Americans on the floor of the House early this morning as necessary in order to bring down huge deficits (in fact, the bill was actually named "The Deficit Reduction Act of 2005"), those very same Republicans are turning around in less than 24 hours to consider more tax cuts for rich Americans that would actually increase the very same deficits they so reviled just a few hours earlier. This action is the ultimate hypocracy.

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15 Democrats and 51 Republicans Cast Irresponsible Tax Vote

Late tonight, the Senate approved a $60 billion tax cut bill, by a vote of 64 - 33. Fifteen Democrats supported the final bill after mostly Republicans majorities defeated 17 different amendments.

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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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