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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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Lack of Resources and Misplaced Priorities at IRS Perpetuate Tax Gap, New Report Shows

WASHINGTON, Jan. 15, 2008—A lack of enforcement resources and misplaced priorities at the Internal Revenue Service (IRS) are among the factors perpetuating the federal tax gap, according to a new OMB Watch report released today. The report, Bridging the Tax Gap: The Case for Increasing the IRS Budget, illustrates why the IRS has had such a difficult time recovering the more than $300 billion in federal taxes that go unpaid every year. OMB Watch also offers some practical solutions to the problem.

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Bush Backs Off Social Security Reform

Bob Samuelson must be crying ($): President Bush said in late 2007 that Social Security reform awaits the election of the next president, effectively deferring any action on reform before 2009. The biggest issue for the next president will be entitlement programs such as Social Security and Medicare, Bush said Nov. 7 in an interview with German television reporters.

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Stimulus a Slam Dunk? Some Say No

With almost exactly a year left to try to salvage his legacy and with Congressional approval ratings stuck at 25 percent heading into an election year, President Bush and the U.S. Congress respectively see in the reputed recession an irresistable opportunity to demonstrate relevance and responsiveness, regardless of who is credited -- so desperate are they for a tangible accompishment that both parties may back away from the mutually assured destruction/obstruction budget strategy of 2007.

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Fiscal Policy in Response to Economic Downturns, Pt. 2: Getting the Most Out of a Fiscal Stimulus Dollar

In Part 1 of this series on economic stimulus fiscal policy, I defined what fiscal policy is and why policy makers would use it during an economic downturn. Today, I discuss "the multiplier process." The multiplier process is the reason that not all fiscal policies are the same - some are more effective than others at jump-starting a faltering economy. In short, the multiplier effect is the phenomenon by which a dollar injected into the economy (in this case, through fiscal policy) replaces more (and sometimes less) than a dollar of reduced aggregate demand.

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Pelosi and Reid Ask Bush for Cooperation in Putting Together an Economic Stimulus Package

Speaker Nancy Pelosi (D-CA) and Senate Majority Leader Harry Reid (D-NV) have sent President Bush a letter requesting to work with him and Republican Congressional leadership to craft an economic stimulus package that adheres to the three Ts of sound fiscal policy: Timely, Targeted, and Temporary.

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WSJ: Stimulus Policy for the Permanent Recession

A Wall Street Journal editorial today prescribes a stimulus policy that flatly contradicts the advice of economists as ideologically diverse as Larry Summers and Martin Feldstein. Messrs. Summers and Feldstein are both acclaimed tenured professors in the Harvard University Economics department. Their views on economic policy are as different as Maynard Keynes' and Adam Smith's. But when it comes to stimulus package recommendations, they sound like peas in a pod compared to the knee-jerk hacks that sit on the WSJ editorial board. Summers, Jan. 6, 2008:

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Contact Us!

Questions, comments, suggestions, and glad tidings can now be directed to the BudgetBlog inbox at: (In an effort to prevent spam, our contact address appears as an image and without a link to the address.)

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The Republican War on Straw Continues

Republican Congressional leadership has responded to House Speaker Nancy Pelosi's (D-CA) statement that Democrats plan to move a fiscal stimulus package with furious objection to their own imagination. CongressDaily($) quoted House Minority Leader John Boehner (R-OH) yesterday as saying "[Middle-class] anxieties [of the economy] will only be made worse by the higher taxes, irresponsible spending, and bigger government proposed by this Democratic Congress" while Ranking Budget Committee member Paul Ryan (R-WI) shuddered at the notion that "Democrats are banking on enormous tax increases."

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Two Thousand and Eight -- 'Tis the Year to Stimulate?

The Brookings Institution's Hamilton Project hosted a panel discussion this morning here in Washington on "Prospects for Fiscal Stimulus in the U.S. Econony -- If, When, How." Moderated by former Treasury Secretary Robert Rubin, the panel discussed a primer on fiscal stimulus written by Douglas Elmendorf and Jason Furman, both of the Hamilton Project.

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Impact of Insufficient Appropriations

While we reported in December that Congressional Democrats had caved to President Bush's top-line appropriations number (while still attempting to fund their priorities), some things were certainly underfunded. Case in point is the Argonne National Laboratory in Darien, IL. Darien Suburban Life newspaper reports on the cutback: Argonne Director Robert Rosner said in a memo to staff last week the cuts stem from unexpected reductions in Washington brought about by the Congressional budget appropriations bill passed in December. Argonne's news followed the announcement of similar cuts at Batavia-based Fermilab, which learned in late December it will have to lay off as many as 200 employees due to cuts. Director Rosner went on to say he thought the cutbacks would have a negative effect on morale at the lab, but that they would prevail. I'm not sure how they are going to do more scientific research with fewer people and resources, but perhaps Director Rosner has some tricks up his sleeve. I suspect similar cutbacks will happen at other national labs around the country, slowing the pace of scientific discovery and development of new technologies. Remember that the U.S. government has developed numerous things through scientific and technological research that have been extremely valuable to our society. Space blankets, penicillin, the internet, and velco are only a few examples. It's too bad our elected officials can't prioritize funding for these important investment.

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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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