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.

From the Federal Times: IG resigns, decries executive pay system Environmental Protection Agency Inspector General Nikki Tinsley announced she will resign March 3 and cited the negative impact on inspectors general of the new performance-based pay system for senior executives.

Feb. 17 status hearing has been set for Wisconsin Right to Life v. Federal Election Commission. A three-judge federal court will consider a challenge to political advertising restrictions under the Bipartisan Campaign Reform Act . WRTL requested expedited review, and the status hearing is being seen as a possible sign that the federal court will move quickly to reconsider the case. The case was remanded by the Supreme Court. (if you haven't been following, check out our last href="/article/articleview/3254/1/3?TopicID=">Watcher article.)

The White House has announce it will include an outline of approximately $140 billion in FY 2006 supplemental spending it is expected to request this year when it unveils its FY 2007 budget on Monday. The spending, which would go primarily to funding the ongoing wars in Iraq and Afghanistan (86%), will also include additional funds for relief efforts along the Gulf Coast.