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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Senate Shirks Fiscal Responsibility; Passes Tax Reconciliation Bill

May 14, 2006 by Guest Blogger

Thursday evening the Senate passed the almost $70 billion tax reconciliation bill, by a vote of 54-44. Sens. Rockefeller (D-WV) and Specter (R-PA) did not vote. Democrats who crossed the aisle to vote with Republicans were Nelson (D-FL), Nelson (D-NE), and Pryor (D-AR). Republicans who crossed the aisle were Snowe (R-ME), Chafee (R-RI), and Voinovich (R-OH). Voinovich spoke extensively on May 3 on the Senate floor about the fiscal state of the U.S. and about how this is not the time to be continuing to irresponsibly cut taxes. He said:

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Senate Passes Tax Reconciliation Bill

May 11, 2006 by Adam Hughes*

Well, it only took the Republicans in Congress 15 months, but they finally passed the 2005 tax cut reconciliation bill this evening. The House passed the bill last night by a vote of 224 - 185 and the Senate voted 54 - 44 tonight to approve it. Three Democrats (Ben Nelson (NE), Bill Nelson (FL), and Mark Pryor (AR)) joined 51 Republicans to pass the misguided tax bill that overwhelmingly benefits the super-rich and uses outrageous gimmicks to circumvent common-sense budget rules. Sen. Chafee (R-RI), Snowe (R-ME), and Voinovich (R-OH) joined with 41 Democrats to oppose the bill.

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House Passes Tax Reconciliation Bill

May 11, 2006 by Guest Blogger

Last night the House passed the tax reconciliation bill by a vote of 224-185. Fifteen Democrats voted along with Republicans to pass these costly and regressive tax cuts. Two Republicans, Sherwood Boehlert (R-NY) and Jim Leach (R-IA) placed fiscally responsible and compassionate votes by voting against this bill, which will cut almost $70 billion in taxes over the next five years. The Senate is expected to take up the bill today. An editorial in the Washington Post today makes a succinct point about this bill:

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Congressional Negotiators Reach Deal on Tax Bill

May 10, 2006 by Guest Blogger

GOP negotiators for the House and Senate reached a deal yesterday on the nearly $70 billion tax reconciliation measure. The bill extends Bush's deep tax cuts by extending the 15 percent rate on capital gains and dividends, and also includes a one-year patch protecting 15 million Americans from paying the alternative minimum tax. $67 billion of the $69 billion bill will go toward one of those two priorities.

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Tax Reconciliation Vote May Take Place Soon

May 9, 2006 by Guest Blogger

Both the Senate and House are expected to vote on the $70 billion tax reconciliation bill this week, which both extends capital gains and dividends tax rates for two more years, and also provides protection for 15 million families from paying the alternative minimum tax. The tax cuts within the bill, particularly the capital gains and dividends rate extension, would overwhelmingly benefit the wealthiest in society. The Center on Budget and Policy Priorities has estimated that H.R. 4297 would give households with incomes over $1 million an average tax cut of $42,000.

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Reconciliation Tax Cuts Would Benefit Wealthy

May 4, 2006 by Guest Blogger

The Center on Budget and Policy Priorities has come out with a new report called "Reconciliation Tax Cuts Would Average $42,000 for Households With Income Over $1 Million, But Only $20 For Middle-Income Households." I think the title about wraps it up, but here is a telling excerpt from the report anyway:

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Estate Tax Vote Nears; Lobbying Heats Up

In a recent letter to his colleagues, Senate Majority Leader Bill Frist (R-TN) reaffirmed his promise to hold a vote on full repeal of the estate tax, writing that one of his major priorities this summer is to "kill the death tax forever." Groups on both sides of the issue are stepping up their efforts leading up to the vote, holding press conferences and events and producing reports, all in the hopes of getting as much attention as possible from legislators around what promises to be a very close battle. You can still add your voice to growing support for the dynasty tax.

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2006 Tax Reconciliation Bill Languishes

Despite claims by the two senior GOP tax writers of a breakthrough last week following daily meetings with Republican leaders, last year's $70 billion tax cut bill remains unfinished. The bill is expected to be finalized and brought to the floor of both the House and the Senate, as long as House Ways and Means Chairman Bill Thomas (R-CA) and Senate Finance Committee Chairman Charles Grassley (R-IA) reach a compromise over how to pay for a small part of the bill that exceeds budget targets.

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"Death Tax" Summit Today

May 2, 2006 by Guest Blogger

The anti-tax troops are out in full force on Capitol Hill today, participating in the annual Death Tax Summit which includes lobby visits and speeches from prominent GOP Senators. The National Association of Manufacturers' website states:

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Super-Rich Families Lurk In Estate Tax Repeal Shadows

Apr 26, 2006 by Adam Hughes*

United for a Fair Economy and Public Citizen released a new report unveiling the 18 mega-rich families who are the primary finacial influence behind the decades long effort to repeal the estate tax. As detailed in the report, Spending Millions to Save Billions, the families include the candy magnate Mars family, the Waltons - owners of Wal-Mart stores, the Gallo wine dynasty, the Kochs of Koch Industries and Dorrance family of the Campbell’s Soup Company. Together, they are worth a total of $185.5 billion and would save upwards of $71.6 billion if the tax was repealed.

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