Floyd Norris writes an excellent Op-Ed in today’s New York Times. His piece is one of the better introduction’s to the most recent incarnation of estate tax repeal. He walks us through some of the more technical aspects of the bill and how they will impact charitable giving. Norris also explains how some provisions might actually increase estate tax liabilities for some individuals living in states with estate tax, prompting those states to lower their taxes to avoid an exodus of wealth.

As President Bush calls on the Senate to pass its version of line-item veto legislation as a means of controlling government spending, it’s important to keep in mind just how much pork barrel spending is in relation to other important budget data points. According to Citizens Against Government Waste, the government spent $23.7 billion on "pork-barrel" spending. No small sum, for sure. But, $23.7 billion is but a fraction (7.5%) of the $317 billion FY2005 federal budget deficit. At less than one percent (0.96%) of the $2.5 trillion the government spent in 2005, it’s barely recognizable.

BNA confirms an earlier rumor that Senate Majority Leader Bill Frist (R-TN) won’t bring estate tax repeal reduction to a floor vote. The Republican leadership in the Senate couldn’t garner enough votes to end debate on decimating the estate tax - Frist needs 60 votes to bring a vote to the floor. Referring to his intention to raise the issue again Frist said in a statement, "the Senate will vote on a permanent reduction to this tax--a tax that destroys small businesses and family farms."

Senate Minority Leader Harry Reid (D-NV) said yesterday that he would block any pay raise for the Senate until the federal minimum wage is raised. CNN: In arguing for the minimum-wage increase, Democrats are emphasizing that salaries for members of Congress have risen $31,600 during the time the minimum wage has been frozen. They complain that rising costs for gasoline, utilities, education and food have taken a chunk out of minimum-wage paychecks, which sometimes have to support entire families.