Oil Tax Subsidies in Budget Reconciliation Bill

Feb 27, 2006 by Guest Blogger

Buried deep within the budget reconciliation bill are billions of dollars worth of tax subsidies. As this article points out, the subsidies do not come from oil, but from "the marketing of a dubious concoction of synthetic fuel produced from coal and dependent on government tax credits tied to the price of oil." Specificallyy, the bill reverts the price of a barrel of crude oil back to the amount it sold for two years ago. This "pretend price" benefits a small group of politically well connected investors and companies. CNN.com: A Magic Way to Make Billions

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More on the IRS PACI Report

Feb 27, 2006 by Guest Blogger

A New York Times article on the IRS Political Activities Complaince Initiative (formerly Political Intervention Program). While the release of the report may be an indication of more transparency from the IRS, Marcus Owens, attorney for All Saints Church notes, "I wonder whether or not all the 50 or 60 organizations they identified as having engaged in illegal political intervention really did have significant issues," he said. "That having been said, give me an hour and my computer and I can sit down and give the I.R.S. 200 good audit leads on questionable political activity."

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Santorum Charity Had 60% Overhead

Feb 27, 2006 by Guest Blogger

From the AP: Sen. Rick Santorum's charity donated about 40 percent of the $1.25 million it spent during a four-year period - well below Better Business Bureau standards - paying out the rest for overhead, including several hundred thousand dollars to campaign aides on the charity payroll, records show.

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IRS Releases Report on PIP Program

Feb 24, 2006 by Guest Blogger

The IRS has finally issued a report on nonprofit's political activity in elections. Look for a summary in the next Watcher, or better yet, read it now!

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FEC Set To Vote on Internet March 20

Feb 24, 2006 by Guest Blogger

Roll Call offers this article (paid subscription required). A snippet: FEC Chairman Michael Toner said he favors less restrictions when it comes to the Internet than more. "What the FEC does in this area will affect the online political activities of millions of Americans," he said. "I also think the FEC should make very clear that the press exemption applies with full force to online activities including the activities of bloggers, who in this society are functioning in my view as press entities."

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Tax Cuts Contribute to Growing Gap in Income Inequality

Feb 24, 2006 by Adam Hughes*

As this telling article from the Bangor Daily News points out, we are a society with striking differences between the rich and the poor. Minimum wage policy, tax policy, and changes in the demand and supply for skilled employees have exacerbated this income inquality to the point where in 2000, the top 1 percent of wage earners owned 10 percent of the nation's total income. The average income of American families has fallen from 2001 - 2004. The current administration's tax policies are adding to this problem. The article says:

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Muslim Charities and the War on Terror

Muslim Charities

Top Ten Concerns and Status Update

Since the 9/11 terrorist attacks, U.S.-based charities have become targets in the government's war on terror financing. Despite the sweeping implications for all domestic nonprofit organizations, the lion's share of the burden of increased scrutiny, suspicion, and pre-emptive action has fallen on Muslim groups. This imbalanced campaign raises significant legal and ethical questions.


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Dismantling the Public's Right to Know

TRI Under the Bush administration, the Environmental Protection Agency (EPA) is slowly dismantling its flagship environmental information tool--the Toxic Release Inventory (TRI). The program has been protected and improved for over the last 15 years, serving as a constant example of the vital role information plays in a democracy. Unfortunately, the program's success has made it a target for those that seek to reduce corporate oversight and accountability.

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Snow Sends Pro-Tax Cut Letter to Grassley and Thomas

Feb 23, 2006 by Guest Blogger

Today, Secretary Treasury John Snow sent a letter to Finance Committee Chairman (and tax bill conferee) Charles Grassley (R-IA) and Ways and Means Chairman Bill Thomas (R-CA) stating "the Administration's strong support for the extension... of dividends and capital gains tax relief included in the House-passed bill." Both Grassley and Thomas are known to be in favor of this extension as well.

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Rudman Rept Dropped; Critical of Fannie Mae, Not Enough for Action

Feb 23, 2006 by Guest Blogger

A report by former Sen. Warren Rudman, released today, is highly critical of accounting practices at Fannie Mae -- especially actions by its former chief financial officer. But that might not be enough push Sen. Richard Shelby to press for action on a bill to revamp oversight at government-sponsored enterprises. However, many expect Shelby to cave to White House demands on language dealing with portfolios. Why are we concerned about this?

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