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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After the Hearing: Notes on Stimulus Oversight

As I mentioned in my post yesterday, the House Oversight and Government Reform Committee held its first stimulus oversight hearing in months today, this one focused on reviewing the first round of recipient reporting under the Recovery Act. The hearing featured testimony from Earl Devaney, Chairman of the Recovery Board, Gene Dodaro, Acting Comptroller General of the Government Accountability Office, and undersecretaries from the Departments of Education and Transportation. Here's a quick breakdown of the few news nuggets from Dodaro and Devaney in today's hearing:

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House to Hold Recovery Act Oversight Hearing Tomorrow

In case it wasn't clear in my last post, tomorrow, Nov. 19, the House Oversight and Government Reform Committee will be holding a stimulus oversight hearing. It will be the Committee's fifth Recovery Act hearing, the first serious stimulus oversight hearing in Congress since this past July. The hearing, called "Tracking the Money: How Recovery Act Recipients Account for Their Use of Stimulus Dollars," has the usual cast of characters, in that both Earl Devaney, Chairman of the Recovery Board, and Gene Dodaro, Acting Comptroller General of the Government Accountability Office, will both be testifying, along with representatives from the Departments of Transportation and Education. Hopefully the hearing will be better than the last Congressional hearing on the Recovery Act, which wasn't all that useful.

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Devaney Letter Causes Ridiculous Stimulus Data Quality Brouhaha; Media Bark Up Wrong Tree

Earlier today, Earl Devaney, Chairman of the Recovery Board, stated in a letter to House Oversight Committee Ranking Member Darrel Issa that he was not able to "certify that the number of jobs reported as created/saved on Recovery.gov is accurate and auditable." The statement came in response to a letter Issa sent Devaney in advance of the Committee's stimulus oversight hearing on Nov. 19, a letter which asked Devaney if he was "able to certify personally" that the Recovery.gov number was accurate, and if not, if the Board would prominently display a warning on the site to that effect. Devaney's apparent disavowal of the jobs numbers became instant news, with Politico and ABC News jumping on it immediately, and Issa used the statement as evidence that the Administration could not validate the job numbers it has been citing over the past month. The truth is, Devaney's comments are not news in any way.

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Over 14,000 Tax Cheats Came Forward Under IRS Amnesty Program

Internal Revenue Service

Yesterday, the Internal Revenue Service (IRS) announced the results of its tax amnesty program that ended on Oct. 15. It turns out some 14,700 taxpayers came forward to report previously undisclosed foreign bank accounts under the voluntary disclosure program the IRS implemented following the U.S. government's settlement with Swiss Bank UBS earlier this year.

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Malta Treaty May Provide Model for Combating Tax Havens

Malta

Congressional Quarterly (subscription required) relayed an interesting story yesterday about how a little-known tax treaty negotiated under the George W. Bush administration may become the model for lawmakers in Washington looking to crack down on tax havens.

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ProPublica Answers Recovery.gov Questions

If you haven't navigated around through Recovery.gov since the Recovery Board added the recipient reports on Oct. 30, the truth is it isn't the easiest site to use. Having access to the recipient reports is great (and rather historic), but the data are stored in various disparate sections of the website, and searching the site to find exactly what you're looking for is tedious. The real problem, though, is that the site's help section isn't very helpful, since it only provides general background info on the Recovery Act, and nothing about how to actually use the website.

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Congress Looks to Insert Itself into the Debt *Problem*

He'll save the children, but not the British children

Ugh oh, a recent article in National Journal (subscription required) quotes several members of Congress, including Senate Budget Chair Sen. Kent Conrad (D-ND) and Rep. Frank Wolf (R-VA), expressing strong interest in the creation of a bi-partisan debt-reduction commission with binding recommendation powers to Congress. It seems Conrad, Wolf, and other budget hawks see the administration's need to raise the debt ceiling as the perfect opportunity to press for the creation of such a body. While there's nothing wrong with a debt commission per se, I find the timing and details of this scheme troubling for a number of reasons.

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Forgotten Tax Policy: The AMT

tax forms As we near the end of the calendar year, a familiar drone has been absent this year in discussions about tax policy - the dreaded Alternative Minimum Tax (AMT). Despite early action this year that has put the issue off until 2010, the problems with the AMT that make it such a pain still exist.

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MSNBC’s Dubious Insinuation of Job Data Manipulation

A paragraph in an article written by Mike Stuckey on MSNBC.com insinuates that the White House manipulated the Recovery.gov job count total to match its previous claims of job growth numbers. I can't tell if Stuckey simply has his facts wrong, is intending to mislead to create controversy, or has been misled by an unscrupulous source.

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Omnibus Appropriations Bill More and More Likely

Omnibus, get it?

A story in The Hill this morning relays an increasingly likely scenario in Congress: legislators will use an omnibus appropriations bill to finish spending work this year. The article cites the molasses-like speed at which the Senate has worked to pass its remaining appropriations bills. With the second stopgap funding measure set to expire on Dec. 18, and the Thanksgiving holiday intervening, the window of opportunity just to pass and conference an omnibus bill – let alone the four Senate appropriations bills that remain – is quickly closing.

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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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more resources