Economy and Jobs Watch: Wages Fail to Keep Pace with Inflation

While many observers believe that the economy is in the process of recovering from weak growth and a dismal labor market, there is still considerable evidence that the recovery is not serving everyone.

read in full

CBO Releases Two New Studies Examining Impact of Estate Tax on Charitible Giving

The Congressional Budget Office has released two new reports on the impact of the estate tax on charitable giving. The reports confirm that there is a significant negative impact on charitable giving that would result from the elimination of the estate tax.

read in full

Appropriations: A Broken Process

Not only was Congress unable to pass a budget resolution this year --passage of appropriations is also in jeopardy.

read in full

OMB Fails to Meet Another Deadline

The Office of Management and Budget is required to produce a "Mid-Session Review" by July 15 of each year. However, the mid-session budget review has still not been issued.

read in full

Should 'Middle-Class' Tax Cuts be Extended, Offset or Not?

The political reality, especially in an election year, makes extension of the so-called "middle-class" tax cuts very likely. Hardly anyone is arguing against extending these cuts, as long as they are paid for. However, there are very good arguments why, even If the cost of the extension is offset, extension of these tax cuts is not supportable.

read in full

Tax Cuts: See You in September ...

A bipartisan agreement to extend the so-called "middle-class" tax cuts for an additional two years bit the dust last week. Efforts to extend the cuts will now be delayed until Congress returns in September.

read in full

Tax Cut Extensions Possible

We reported earlier that Senate Finance Committee Chairman Charles Grassley (R-IA) wanted to delay until September consideration of extending the "middle-class" tax cuts -- marriage penalty, expansion of the 10% income tax bracket, and the $1000 child tax credit -- that will expire on December 31. However, the Bureau of National Affairs (BNA) reported July 12 that House and Senate leaders plan to consider the cuts late this week.

read in full

Pages