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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Defrauding the Government Is OK If the Offending Firm Is Large Enough

That's the objection coming from House Republicans to Rep. Carolyn Maloney's (D-NY) contracting bill (HR 3033) that would debar federal contractors if they are found to have violated federal contracting rules or laws. "Right now, there is nothing stopping a fraudulent contractor from bouncing from federal agency to federal agency, fleecing U.S. taxpayers the whole way," Maloney said. "Congress can and should do more to fortify the federal procurement system, and show the door to contractors lining their pockets at the expense of hardworking taxpayers."

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DAILY FISCAL POLICY REPORT -- Mar. 24, 2008

National Debt -- Might Reach Limit by Election Day: A new CBO estimate of the projected national debt shows that the statutory debt limit might be reached by election day, rather than in 2009, per the previous estimate -- mostly due to expected decreases in corporate tax revenues. Under the "Gephardt" rule in the House, the debt ceiling increase in the budget resolution boosting the limit to $10.2 trillion goes into effect without a stand-alone vote. A Senate vote would still be required for a House bill raising the debt ceiling to become law.

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Waxman Asks AG About Overseas Contracting Loophole

House Oversight and Government Reform Committee chair Henry Waxman (D-CA) has sent a letter* to Attorney General Michael Mukasey asking why federal contracting rules have been changed such that they would "exempt overseas contracts from a requirement that the contractor detect and prevent fraud and report it to the government." AP: The United States has spent more than $102 billion over the last five years to help rebuild Iraq and Afghanistan. In that time, the Justice Department has uncovered at least $14 million in contract bribes in those two nations alone.

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Bush Does Battle with Recession, Taking Aim at...

... earmarks ?! In Gail Collins, the New York Times has a first-rate writer and thinker who brings a fresh perspective to her op-ed pieces and seems to approach issues without any ideological bent, axe to grind, or hobby horse to flog. Less of a luminary perhaps in that stable of regular columnists than a Kristol, Krugman, or Kristof but Collins has a secret weapon the others don't: humor. Particularly commendable is last weekend's entry, George Speaks, Badly, a critique of President Bush's speech last Friday to the Economic Club of New York.

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Requiem for A Repeal

Following the flurry of the fourty-four budget resolution amendment roll call votes last week, this much is clear: repeal of the estate tax is now a non-starter in Congress. In years past, the budget resolution vote-a-rama has been an annual rite of repeal for the tax. But unless an amendment on it comes up when the resolution comes out of conference and hits the floor next month, 2008 may well be the first year since the current estate tax law was enacted in 2001 that full repeal of the tax has not even so much as come up for a vote in Congress. That's progress.

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DAILY FISCAL POLICY REVIEW -- Mar. 21, 2008

Economy -- The Metastasizing Recession: Policymakers in Washington face the growing challenge of tracking the shifting contours of the nation's economic slowdown as they attempt to design legislative and administrative responses to it. "The economic downturn is seeping into new parts of the country that seemed insulated only months ago." Times. Graphs.
  • Unemployment Claims at Four-Year High:The number of Americans filing first-time claims for unemployment insurance rose last week and the total number on benefit rolls reached the highest since August 2004. Bloomberg

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$1,000 More Reasons to File

About 1.3 million American are owed an average of $1,000 each by the IRS for unclaimed refunds on their 2004 federal income tax returns, the IRS announced yesterday. To get the refund, taxpayers need to file 2007 returns, giving them another eason to do so, even if they earned no taxable income in calendar 2007. Doing so also qualifies them for a stimulus package rebate check (see our blog on rebate resources).

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Earmark Requests Shut Down House Web Site

Bill Allison over at the Sunlight Foundation has a great blog up about a report in Roll Call that the House Appropriations committee website was overwhelmed with requests for earmarks shortly before yesterday's deadline. Because the website crashed, the deadline has been extended until next week.

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NY Times: "Outsourcing at IRS Inept"

Tom Shoop, blogging over at FedBlog, made an excellent point about the NY Times coverage last Friday of an overlooked hearing in the Ways and Means Oversight Subcommittee. The Times headline continues to blacken the already quite black eye the IRS had developed over the private tax collection program: Taxpayer Advocate Says Outsourcing at I.R.S. Is Inept. Let's hope Tom is correct that this type of mainstream attention will signal the beginning of the end of the wasteful and dangerous program. hat tip: More Bad Press for IRS Outsourcing

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Baucus Continues Quest to Drive Up Deficits

Sen. Max Baucus (D-MT), Chairman of the Senate Finance Committee, reiterated yesterday that the one-year adjustment to prevent the Alternative Minimum Tax (AMT) from impacting millions of additional taxpayers this year will not be paid for - ensuring an additional $70 billion will be added to the deficit.

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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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