Our initial analysis of the president's budget release is now available. This is just preliminary and there are many more aspects of the budget to comment on. Check back here often for additional updates and information about what's in the FY 2007 budget proposal.

At OMB Watch, we're pretty accustomed to working on issues that go under the radar. Such has long been the case with PART, the White House's tool for assessing program performance (supposedly). We have been telling anyone who will listen that PART is a political tool, not a measurement of "results" or "effectiveness," which the White House uses to justify lousy budget choices and to send management signals to agencies that would take government programs in the wrong directions.

President Bush's budget proposal can be found online at the Office of Management and Budget. For a Washington Post article summarizing the budget, see the article "Bush's $2.8T Budget Proposal Cuts Domestic Programs."

Yesterday the Senate passed the tax reconciliation bill in a 66-31 vote. The bill passes $70 billion in tax cuts, and makes way for conference negotiations with the House. Lawmakers will be facing a difficult conference because of differences that exist between the House and Senate versions of the bill, particularly regarding the extension of the cut in tax rates on capital gains and dividends through 2010. The passage of this bill comes one day after Congress finished work on a $40 billion budget reconciliation bill which cuts entitlement spending in an effort to scale down the deficit.