Revenue & Spending

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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Senate, House Expected to Differ on Tax Rate Extensions

Jan 11, 2006 by Guest Blogger

Although the Senate and House have both passed their separate versions of the tax reconciliation bill, Congress has yet to vote on and pass a final measure. One of the major differences between the two bills is that the House passed a two-year extension of low capital gains and dividends rates, while the Senate did not.

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Two New Tax Cuts Benefit the Wealthy

As a fitting kick-start to a year in which President Bush is expected to push hard to make his expensive and unbalanced tax cuts permanent, two new tax cuts went into effect that almost exclusively benefit high-income households. These tax cuts, referred to as "PEP" and "Pease," were enacted in 2001 but did not go into effect until 2006--an underhanded but politically advantageous move that kept the total cost of the 2001 tax cut package within set budget limitations.

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Congress Has Yet to Pass Budget, Tax Cuts

The budget and tax reconciliation measures laid out in Congress's April 2005 budget resolution took up a good deal of lawmakers' time and energy throughout last fall, and continue to linger unfinished, even as the release of the president's Fiscal Year 2007 budget rapidly approaches. The House of Representatives, in fact, is scheduled to vote on the final budget bill one week before the president is scheduled to release his budget on Feb. 6.

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Poor Hurt By IRS Actions to Freeze Funds

Jan 10, 2006 by Matthew Madia

The Internal Revenue Service's taxpayer advocate, Nina Olson, told Congress in the annual report released today that tax refunds sought by hundreds of thousands of poor Americans were denied by the IRS and blocked for years to come. This was done because a computer program run by the criminal investigation division of the IRS selected the returns as part of the questionable refund program. Olson, whose staff looked at a sample of suspected returns, found only one in five to be questionable.

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Congress to Increase Debt Limit for Fourth Time In Four Years

Jan 10, 2006 by Matthew Madia

Last April Congress called for an increase in the debt limit -- the national debt is expected to hit $8,184 billion in mid-February -- however they have yet to act. Lawmakers are expected to take up the issue in February after voting on final tax and budget reconciliation bills, marking the fourth time during President Bush's presidency the debt limit has needed to be raised.

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$119 Billion Deficit in First Quarter of 2006

Jan 9, 2006 by Matthew Madia

The Congressional Budget Office released the Monthly Budget Review on Friday, in which they reported the federal budget deficit for the first quarter of 2006 as being $119 billion. This figure is fairly close to the shortfall seen in the first quarter last year.

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House Democrats Put Forth Reform Package

Jan 6, 2006 by Adam Hughes*

House Democrats David Obey (D-WI), Barney Frank (D-MA), David Price (D-NC), and Tom Allen (D-ME) have produced a 14-point package to reform House rules. The package is cosponsored by 120 House Democrats, including Minority Leader Pelosi (D-CA) and Minority Whip Hoyer (D-MD).

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IRS To Offer "AMT Assistant"

Jan 5, 2006 by Guest Blogger

The IRS has unveiled a new online tool to help taxpayers determine whether or not they are subject to the alternative minimum tax (AMT). The "AMT Assistant," which is one of a series of steps by the IRS to reduce taxpayer burden, will allow taxpayers to enter their information and get an answer in 5 to 10 minutes. It will be available during the 2006 filing season at www.irs.gov.

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House Clears Defense Spending Bill

Dec 22, 2005 by Guest Blogger

Today the House cleared the FY 2006 Defense bill by voice vote, but forced another short delay in Congressional adjournment by modifying an extension of expiring Patriot Act provisions which was passed by the Senate. The Senate is now planning on returning at 8:00 this evening (after their long day yesterday) to clear the revised legislation (S 2167). The bill, which is set to expire December 31, would extend 16 provisions of the 2001 anti-terrorism law.

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Senate Finishes Approps Work and Passes Budget Bill

Dec 22, 2005 by Guest Blogger

Yesterday the Senate wrapped up work on the last two appropriations bills, eighty-two days after fiscal year 2006 began (which is the deadline to pass appropriations bills). In their desire to wrap up appropriations work, GOP leaders hammered out a resolution enacted by voice vote, which states that once the House approves a modified version of the FY06 Defense appropriations bill, the Labor/HHS conference report would be deemed passed in the Senate. The bill passed funds FY 2006 health, education and labor programs, as well as defense authorization legislation.

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