Monthly Budget Review

The Congressional Budget Office has released their Monthly Budget Review. During the first eight months of FY 2006 (remember the fiscal year begins October 1) the government incurred a deficit of $223 billion, which is $50 billion lower than the deficit amount recorded for this period last year. Outlays for Social Security and net interest payments on the debt grew by about $3 billion each, and defense spending was up $2 billion. Receipts for the month of May this year were substantially higher than receipts last year. The report says:

read in full

And the Hits Just Keep on Coming

A new batch of hits in the press today urging the Senate to back away from giving a huge tax cut to the very richest families in the country by repealing or gutting the estate tax:
  • Miami Herald - Don't Repeal the Estate Tax
  • Kansas City Star - Is Repealing the Estate Tax Irresponsible? YES
  • Philadelphia Inquirer - Fantastical Tales of the 'Death Tax'
  • NPR Commentary: Robert Reich - Estate Tax Pyramid Scheme
  • Cleveland Plain Dealer - Repeal of Estate Tax Would Be Too Costly for America

read in full

Estate Tax Issue Grabs Headlines Around the Country

The estate tax issue is moving fast and furious in the press this week. In addition to articles and editorials posted here yesterday, a new list of contenders for the public's attention has been added today - all supportive of keeping the tax. Check out the list below:
  • Washington Post - Death and Taxes
  • New York Times - The Estate Tax, Back on the Agenda
  • Seattle Post-Intelligencer - " target="_blank">Estate Tax: The True Cost of Repeal
  • USA Today - Wealthy Can't Avoid Death - But Will They Evade Taxes?

read in full

Organizations Say Ohio Voter Law is a Hindrance to Registration

New rules issued by the Ohio secretary of state's office governing groups that pay people to register voters are confusing and have hindered their efforts to sign up new voters, critics of the rules said Monday. For the whole scoop, check out this story in the Cinncinnati Enquirer.

read in full

Call Your Senators: Estate Tax Vote This Thursday

A vote on the estate tax is expected for this Thursday. Republicans do not have enough votes to invoke cloture on legislation to repeal the estate tax, a point which was reiterated by Sen. Charles Grassley (R-IA) yesterday. Also, it was reported that a Senate GOP leadership aide said Monday if Democrats defeat cloture on a motion, Frist will not bring up a compromise bill. If Democrats allow debate then a compromise may be considered.

read in full

Report on Privately Funded Trips on Capitol Hill

A Washington Post article on a report issued by the Center for Public Integrity, American Public Media and Northwestern University's Medill News Service.

read in full

Estate Tax In The News

Since the vote will likely happen this Thursday, the estate tax has been widely covered by the media. A few select articles and releases are below. The one by Robert Kuttner which appeared in the Boston Globe is especially good.
  • Boston Globe: Estate Tax Debate a Chance for Democrats to Pounce
  • Philadelphia Inquirer: The Estate Tax: Death to the Phony Spin
  • Los Angeles Times: Effort to Repeal Estate Tax Said to Be Faltering
  • Free Market News Network: Estate Tax Repeal = Big Oil Windfall
  • New York Times: Shameless in the Senate

read in full

No Excuse for Abolishing the Estate Tax

The Washington Post is running opposing op-eds today on the estate tax, which will most likely be brought to the floor this Thursday. The op-eds, written by Sebastian Mallaby and Sen. Jeff Sessions (R-AL) are worth a read. Mallaby's article, "Reward for the Hereditary Elite..., is especially on target, pointing out how ludicrous it is for Congress to even be considering cutting this revenue stream when government expenditures are "projected to rise by nearly 3 percent of gross domestic product by 2030, a growth equivalent to the doubling of today's Medicare program."

read in full

Major Challenge to Faith-Based Initiative

From the Washington Post: In a 140-page decision, U.S. District Judge Robert W. Pratt ruled that the InnerChange Freedom Initiative program at Iowa's Newton Correctional Facility violated the constitutional ban on government establishment of religion because it was state-funded, pervasively sectarian and aimed at religious conversion. Brought by Americans for the Seperation of Church and State, the case is a major challenge to the faith-based initiative.

read in full

Pages