Impact Statements

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Incorporation by Reference

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Independent Regulatory Agency

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Sec. Snow Conceeds Economy Not Benefiting All

Earlier this week, Secretary of the Treasury John Snow conceded the slowly-progressing economic recovery has not benefited all Americans equally. Snow said, "The idea...is to explore the things that produce broad-based prosperity and one of the things we know is that less educated people have seen their incomes and wages grow more slowly." Snow's comments come amid slightly more positive economic indicators and increasing business optimism about the economy, but also in conjunction with the release of two reports showing the recovery has been anything but good for most Americans. This week the Center on Budget and Policy Priorities released a report comparing this economic recovery with previous recovery periods and finds that not only is this one less robust but that it is much more unevenly distributed, with corporate profits reaping nearly all the benefits at the exclusion of the labor market. In addition, the Congressional Budget Office released a background paper examining employment during and after the economic recession of 2001. Among its interesting findings, the CBO writes, "both the magnitude and persistence of the decline in the labor force [participation rate] during the past several years are unprecedented."

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Permanency Needed, But Bush Prefers Trashing ET

President Bush has once again weighed in on the estate tax issue, claiming the tax needs to be repealed to establish "certainty in the tax code." All sides in this debate agree with President Bush's concern for the need for certainty, but that can easily be achieved by adjusting the tax structure and moving beyond the phase-out system put in place by Congress in 2001 without repealing the tax. As with Social Security, there are only a few minor adjustments needed to achieve a prudent compromise policy on the estate tax, but for some reason President Bush is more interested in scrapping the tax entirely. It seems clear who's best interests President Bush has at heart.

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Informal Rulemaking

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Information Collection Request

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Interim-Final Rule

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Interpretive Rule

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Judicial Review

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