Millions Face Loss of Unemployment Insurance

On Nov. 18, the House failed to pass a three-month extension of unemployment insurance (UI), putting the benefits of nearly 2 million Americans in jeopardy. With funds for federal benefits set to expire Nov. 30, the failure to enact an extension sets up a post-Thanksgiving battle between UI extension advocates and deficit hawks. Complicating matters, the debate over extending the Bush tax cuts will likely encroach upon the UI benefits extension dispute, increasing the likelihood that many citizens will be cut off from help as the holiday season begins.

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In Lame-Duck Session, Emboldened Republicans Face Tough Fiscal Choices

While the 2010 midterm elections swept in a significant Republican majority in the House and a larger Republican minority in the Senate, Congress will face a great deal of important fiscal legislation that it must address before the newly elected members begin their terms in 2011. With annual appropriations bills and the expiration of the Bush tax cuts pending in the upcoming lame-duck session, the focus will be on the Republican minority in the Senate and whether it decides to block key legislation or work with Democrats to address unfinished business.

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Commentary: Contracting Oversight in the 112th Congress

With the GOP winning control of the House on Nov. 2, Republican members of House oversight committees are poised to determine how the lower chamber of Congress uses its investigatory powers for the next two years. Rep. Darrell Issa (R-CA), the likely chairman-to-be of the House Oversight and Government Reform Committee, has released what his website calls "a blueprint" for oversight of the executive branch, and Rep. Eric Cantor (R-VA) released a document shortly after the elections calling for greater congressional oversight overall. With plenty of contracting issues that remain unexamined or in need of further investigation, what will this shift mean for congressional oversight of government contracting in the next Congress?

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Commentary: In Case of Bailout, Break Glass for Transparency

With the unpopular bank bailout, the Troubled Asset Relief Program (TARP), coming to a close, policymakers should begin looking back at the program to glean lessons from its creation and execution. When TARP was created by an act of Congress in 2008, the imperative was speed, not transparency. Unfortunately, that lack of transparency and other problems plague the program nearly two years later.

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Will Code of Conduct Clean Up Security Contracting Field?

In November, more than 20 private security contractors (PSCs), along with representatives from various governmental and non-governmental organizations (NGOs) from around the world, will come together in Geneva, Switzerland, to sign the International Code of Conduct for Private Security Service Providers. The code aims to "set forth a commonly-agreed set of principles for PSCs and … establish a foundation to translate those principles into related standards as well as governance and oversight mechanisms." Because the code’s "oversight mechanisms" remain undetermined, questions linger about the effectiveness of another self-policing policy for the private security industry.

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Commentary: The Case of the Misunderstood Bailout

Currently, it's hard to find a federal program more unpopular than the Troubled Asset Relief Program (TARP), the bank "bailout" passed in the waning days of the Bush administration. Poll after poll shows that the public does not support the bailout, and politicians, especially ones up for reelection, have picked up on this trend and frequently denounce the program. And yet, by many objective measures, the bailout could be considered a success: it helped avert financial calamity, it will cost a fraction of its original estimates, and TARP’s bank provisions will likely end up earning a profit for the government. While TARP could have done better, the public perception that TARP failed is not consistent with most data.

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Modernization at IRS Could Help Reduce Tax Gap and Shrink Deficit

The estimated $345 billion in revenue that goes uncollected every year is a tempting target for deficit crusaders. However, closing the so-called tax gap is not a cure-all, and attempting to address the problem could create other tax compliance issues. Despite such potential complications, a new report by the Government Accountability Office (GAO) has found that recent modernizations to the Internal Revenue Service's (IRS) computer systems show promise in helping to close the tax gap while avoiding some of the problems that may arise from aggressive tax collection.

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