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...

read in full
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...

read in full
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...

read in full
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...

read in full
more news

What's Up? Not Very Much

Only the Size of the Stimulus As noted below, gross domestic product -- the most basic measure of the nation's economic health -- grew by an anemic 0.6 percent in the fourth quarter of 2007. The expansion for all of 2007 was 2.2 percent, the lowest figure in five years.

read in full

State of the Stimulus Package(s)

Yesterday, the U.S. House of Representatives overwhelmingly approved H.R. 5140, the grandly-named Recovery Rebates and Economic Stimulus for the American People Act of 2008 It's the $146 billion economic stimulus package worked out by House and administration negotiators last week.

read in full

Economy Slows to 0.6% Growth Rate at End of 2007

With the voluminous debate in Washington about the appropriate contours of a economic stimulus package, it should be mentioned (as it occasionally is) that a recession is not necessarily a lock. It's possible that such a package may not be needed. That possibility, however, appears to have narrowed significantly, as the Bureau of Economic Analysis has announced that fourth quarter GDP growth for 2007 was a molasses-in-December slow 0.6%. In the third quarter of last year, GDP grew at a brisk 4.9%. For all of 2007, the economy grew at a 2.2% pace. In 2006, GDP growth was 2.9%.

read in full

Open-Gov Questions Candidates are Afraid We'll Ask

Elections are the time when politicians pay the most attention to people and issues, and therefore the best time to ask them questions about how they plan to govern. OMB Watch wants your help in figuring out the best questions on government transparency that can be put to the candidates. Take just a few minutes to answer our survey and vote on your five favorite questions on the issue of government transparency and openness. We will then share the top questions with the news media and other organizations that have direct contact with candidates. Government openness affects every issue from budget and taxes, to the regulatory process, to non-profit advocacy. The range of questions tries to reflect this breadth so check them and see which are most important to you. Take the Open Government: What We Need To Know Survey today.

read in full

UPDATE: Senate Finance Stimulus Proposal Released

The Senate Finance Chair Max Baucus (D-MT) has now released the economic stimulus proposal that will be considered at Wednesday's Committee mark-up. For details and scores, see here later today. The proposal is along the lines described below, with these three main differences:

read in full

Tell the Senate Finance Committee Its New Rules Don't Go Far Enough

The Senate Finance Committee is considering new rules on Wednesday (Jan. 30) to increase transparency of the committee's meetings. While the proposed changes are a welcome step toward openness and transparency, the draft rules contain several serious problems. We need to give the committee quick feedback on these problems and get them fixed before Wednesday's markup. Most notable are the following three problems:

read in full

Add-endum: Senate to Supplement Stimulus

Bigger Bang for Bigger Bucks, but Un-Paid For The Senate is expected to add approximately $20 billion in new provisions to the $146 billion stimulus package agreed to last week by House leaders and Treasury. Two of these provisions will probably be added in a Finance Committee mark-up on Wednesday afternoon; another may be added by the Agriculture Committee in the next couple of days. Additional amendments may come when the package comes to the floor before a final vote as soon as Thursday or by the middle of next week. As of now, the major items likely to be added in the Senate are:

    read in full

    Heritage Foundation Blog Responds to My Posts

    Writing on the Heritage Foundation's blog, The Foundry, rbluey calls me out for my bashing (here and here) of Brian Riedl's paper Tax Rebates Will Not Stimulate The Economy and recent statements he made in a BNA article($). The following is my response. Coming back to tenth-grade economics, in which we learn that "economic growth" refers to the change in the value of all goods and services (gross domestic product, or GDP) produced over a given time period in a given set of product and service markets, we can make any number of assertions that activity X will result in an increased value of such production. Riedl's paper relies on this definition economic growth ("By definition, an economy grows when it produces more goods and services than it did the year before."), but then claims that increased consumer expenditure, prompted by an increase in consumer income enabled by government transfers (i.e. tax rebates), do not, in fact cause the economy to produce more stuff in 2008 than it would have without such rebates. This is wrong (see e.g., CBO Director Peter Orszag, Federal Reserve Board Chairman Ben Bernanke, Harvard Economics professor and former Chairman of the Council of Economic Advisers and President Reagan's chief economic adviser Martin Feldstein, and former Clinton Treasury Secretary Lawrence Summers).

    read in full

    OMB Watch Statement on the Stimulus

    OMB Watch released a statement on today's announced House-Administration proposed stimulus package, calling it "a good start" but noting that it "falls short of its stated goal of adequately stimulating the economy." However:

    read in full

    Tax Terms of Fiscal Stimulus Package Agreed

    Package Omits UI, Food Stamp Provisions Within the last hour, word has emerged that Congress and the White House have agreed on key terms of a fiscal stimulus package. A story appearing in the electronic version of the Washington Post reports that House Speaker Nancy Pelosi (D-CA) and Republican Leader John Boehner (R-OH) reached agreement in principle in a telephone call Thursday morning. The tax rebate terms:
    • the compromise package is not to include increases in food stamp and unemployment benefits

    read in full

    Pages

    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...

    read in full

    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...

    read in full
    more resources