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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The Energizer Bunny of Tax Policy

Aug 11, 2006 by Craig Jennings

Still going. Washington Wire notes that Sen. Chuck Grassley (R-IA) "would like to craft an estate tax compromise in the Finance Committee that can win the support of Democrats."

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Business Groups Mull New Anti-Estate Tax Strategy

Aug 10, 2006 by Matt Lewis

Ugh. National Journal's CongressDaily (subscription required) reports today that anti-estate tax coalitions are regrouping for a massive grassroots push during Congress's August recess. An unnamed source identified about a dozen Democrats who the coalition may target, including:

Sens. Daniel Akaka and Daniel Inoye of Hawaii
Sens. Maria cantwell and Patty Murray of Washington
Sen. Mark Pryor of Arkansas
Sen. Max Baucus of Montana
Sen. Debbie Stabenow of Michigan
Sen. Robert Byrd of West Virginia
Sen. Tim Johnson of South Dakota

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Dems Question IRS Downsizing

Aug 10, 2006 by Adam Hughes*

House Democrats are challenging a recent move by the IRS to downsize its estate tax auditing department (More here and here). Rep. John Olver (D-MA) just threw his hat into the ring, too. From BNA (subscription required): Olver expressed "strong concern" despite IRS's assertions that the change is due to the declining number of returns as a result of a bigger exemption. The Massachusetts Democrat pointed out that estates of more than $2 million are still subject to the tax.

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Ask, Receive

Aug 9, 2006 by Matthew Madia

Earlier, Matt asked: [A]ny readers out there want to calculate how much lower the deficit would have been if the 2003 capital gains and dividends tax cuts hadn't been in effect? Well, I'm not sure about the capital gains and dividends cuts, but the Center on Budget and Policy Priotities informs us that:

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An Introduction

Aug 9, 2006 by Craig Jennings

Ya'll might have noticed an uptick in the quality of the blog since Monday. That would be the work of the newest member of the Budget & Tax program - Matt Lewis. So, say 'Hi' to Matt when you get a chance.

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Senate Defeats Estate Tax Giveaway...Yet Again

The Senate voted last week to reject a tax and wage package dubbed the "trifecta" that would have slashed the estate tax permanently, increased the minimum wage modestly, and extended a broad set of tax breaks. The bill, passed by the House last month, also contained a number of "sweeteners" to entice targeted senators to vote for the bill. "What I will do over the next month [is] assess where America is," Frist said. "And what I would very much like to do or to have happen is ... pressure from the American people. If I felt that, I would use that procedural option in bringing these back."

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Reading the Tea Leaves

Aug 4, 2006 by Craig Jennings

The defeat of the "trifecta" last night bodes well for those opposed to gutting the estate tax. This threat to the long-term fiscal health of the nation, has been staved off - for now. Senate Majority Leader Bill Frist (R-TN) voted "Nay" on cloture to reserve to the right to reconsider this bill in September. While passage of an estate tax cut remains highly in doubt, there is a non-zero chance that this zombie legislation will be resurrected by Frist.

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Estate Tax Dies (Again)

Aug 4, 2006 by Adam Hughes*

A coalition of fiscally responsible Senators stood up last night against the budget-shredding Estate Tax Caucus. By a vote of 56-42, a motion to proceed to consideration of the "trifecta" bill failed. And thanks to everyone who contacted their Senators and urged them to vote against this horrendous bill!

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Estate Tax Vote Could Be Tonight: OMBW Letter Opposes Bill

Aug 3, 2006 by Adam Hughes*

In advance of the vote on the "trifecta" estate tax bill in the Senate, which rumors say could be as early as tonight, OMB Watch sent a letter in strong opposition to the bill to the full Senate. Although the vote was originally slated for tomorrow (Friday) morning, there are rumors from the Hill that Sen. Reid (D-NV) may agree to move the vote up to this evening. This is a good sign as it probably indicates Reid is confident he has the votes to sustain a filibuster of the bill. Stay tuned for more updates as they become available.

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Momentum Swings Against Frist and 'Trifecta' Bill

Aug 3, 2006 by Adam Hughes*

Sen. Maria Cantwell (D-WA) - a key swing vote on the upcoming "trifecta" bill - has publicly announced she will vote against the bill. Cantwell's bold decision to stand up for working-class families in Washington and around the country who would get a bad break with this legislation is a significant blow to Sen. Frist's (T-RN) attempts to pass this crass and manipulative bill. Sen. Cantwell should be praised for her brave leadership in speaking out against this effort. Kudos to her!

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