You've read his columns (excerpted maybe too often on this blog)- now you can read his new blog.

The carried interest provisions may have gotten the headlines, but the AMT patch package that the House passed late last week also includes some important changes to the Child Tax Credit. The Center on Budget and Policy Priorities has a good rundown of how the tax credit works, and what's wrong with it. Essentially, the way it's structured now, millions of low-income families get no benefit at all, while many more are seeing their credit reduced by inflation.

The House voted 216-193 today to pass the (OMB Watch-endorsed) Temporary Tax Relief Act of 2007, the one-year, $51 billion AMT patch to keep 20 million additional taxpayers from having to pay the tax this year. It complies with PAYGO by raising enough to pay for the patch, the costly such compliance yet, re-affirming the House's commitment to PAYGO principles. And it includes the carried interest pay-for provision closing a tax loophole which actually allows equity fund managers to pay only 15 percent tax on their bonuses -- a lower rate than anyone except the most destitute Americans.

Yesterday, the House approved Labor/HHS conference report on its own by 274-141 (roll call). If 3 nay votes switch, it'd enough to override a presidential veto. Now the bill will be sent to the President, though its not clear exactly when that will happen. The President then will most likely veto it, and the onus will be on the House to override it. Update: See this Coalition on Human Needs pamphlet for the budget cuts a veto-sustaining vote would be supporting.