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...

read in full
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...

read in full
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...

read in full
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...

read in full
more news

Tax Title of the Senate Housing Stimulus Bill

Help me out with this one... This is pretty peculiar. The Senate Finance Committee announced today a set of tax relief provisions "for homeowners, homebuyers, and homebuilders," to accompany the Senate housing stimulus package. A vote on the title and the bill could come as early as tomorrow. The provisions are described, with estimated costs, here, and summarized below:

    read in full

    The Executive Casino: Risk-Free Gaming

    This Tom the Dancing Bug cartoon is a great illustration of the incentives that motivate executives. (The image below is one panel of the full, four-panel comic.) (Click to see the full comic)

    read in full

    DAILY FISCAL POLICY REPORT -- April 2, 2008

    Housing Stimulus -- Possible Senate Vote on Dodd-Shelby: A Senate vote on the Dodd-Shelby housing stimulus bill may come as early this afternoon, pending negotiations by Sens. Chris Dodd (D-CT) and Richard Shelby (R-AL), chair and ranking member of the Senate Banking, Housing, and Urban Affairs Committee. New York Times: Regarding the bipartisan support for the bill, Senator Majority Leader Harry Reid : "This is not April Fool's," he said. "This is serious business."

    read in full

    Taking Aim at Foreclosures: Is Senate Bill on Target?

    If Banking, Housing, and Urban Affairs Committee Chair and Ranking Member, Sens. Chris Dodd (D-CT) and Richard Shelby (R-AL), respectively, can hammer out a compromise by tomorrow morning, the Senate may vote as early as tomorrow afternoon on a housing stimulus package that purports to address the alarming increase in the number of foreclosures in the U.S. "[F]oreclosures of this magnitude are on par with the severity of foreclosures during the Great Depression," said Dodd in a Senate floor statement today.

    read in full

    GSA Suspends IBM from Federal Contracting

    Reuters: SAN FRANCISCO (Reuters) - IBM is under investigation by the U.S. Environmental Protection Agency over an $80 million bid it made in 2006 to modernize EPA financial systems and has been suspended from seeking new contracts with all U.S. agencies, the company said on Monday. ... International Business Machines Corp, the world's largest provider of computer services, said it only learned on Friday of the temporary suspension from the Environmental Protection Agency (EPA) tied to possible violations of ethical bidding provisions on an EPA contract IBM had submitted in March 2006. ...

    read in full

    The Paulson Plan: Multiple Choice, Missing the Mark

    The response to the financial institution regulatory reform proposal introduced yesterday by Treasury Secretary Hank Paulson has been striking. The U.S. Chamber of Commerce and the American Bankers Association, small banks and state attorneys general, left-leaning economists and analysists, and members of Congress, even the man with the max Street cred, Jim "I reiterate -- I am embarrassed by these guys. Thank heavens, no matter who wins the White House, they will soon be gone" Cramer, have trashed the plan unceremoniously.

    read in full

    Senate Considers Plan to Offset AMT with eBay Auctions, Bake Sales

    You're reading the special April Fools' Day, 2008, edition of The Watcher.

    A major divide between the House and Senate budget resolutions — whether or not a $70 billion Alternative Minimum Tax "patch" should be offset with other revenue increases or spending cuts — may be bridged by week's end. An April 1 Congressional Budget Office scoring of Senate Finance Committee Chair Kent Conrad's (D-ND) plan to utilize "alternative revenue methods" may break the congressional logjam. Conrad's measure would allow federal agencies to partially fund their operations through either bake sales or the auctioning off of surplus agency assets through the Internet auction site eBay. "Schools all across the nation do it, so it just makes sense that the federal government avail itself of these taxpayer-friendly revenue enhancers," said Conrad before returning his attention to icing cupcakes.

    read in full

    DAILY FISCAL POLICY REPORT -- April 1, 2008

    Economy -- Treasury Unveils Financial Reg. Plan: Treasury Secretary Hank Paulson unveiled the administration's plan for the most sweeping overhaul of the nation's financial institution regulatory structure in over 70 years. But Paulson may have bitten off more than he can chew. The plan does not address the current housing or financial market crises. Wall Street Journal.

    read in full

    Tax Cuts for Top 1% Crisis

    A Center on Budget and Policy Priorities report shows that a repeal of the Bush tax cuts for the top 1% of income earners would provide sufficient revenues to close the Social Security funding gap.

    read in full

    DAILY FISCAL POLICY REPORT -- Mar. 31, 2008

    Housing -- Reid May Attempt to Move Housing Bill This Week: Hoping that the higher profile of the mortgage meltdown will prompt a few Senators to change their votes, Sen. Harry Reid (D-NV) may bring up his housing assistance package for consideration this week.

    read in full

    Pages

    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...

    read in full

    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...

    read in full
    more resources