DAILY FISCAL POLICY REPORT -- Mar. 10, 2008

Budget -- Front and Center: Floor debates, amendments, vote-a-rama, and final votes on the FY09 budget resolution will occupy most of the House and Senate agenda this week. A central issue: taxes, especially the AMT and whether a patch for next year should be paid for. An amendment to watch for, mostly in the Senate: Sen. Jim DeMint's (R-SC) proposal to ban earmark projects for one year. (For House and Senate budget resolutions, see here.) Taxes/Estate Tax -- Expect Estatus Quo: This week, the Senate Finance Committee will hear academics discuss ideas about estate tax reform. But Committee Chair Sen. Max Baucus (D-MT) is not suggesting any committee action to alter the tax this year. According to Senate Minority Whip and leading advocate of estate tax repeal Sen. Jon Kyl (R-AZ), Baucus "did not appear to be very interested" (CQ, Changes to the 'Death Tax' Are on Life Support — at Least for This Year, $). Taxes/President's FY09 Budget -- JCT Report: Out today is the Joint Committee on Taxation's report providing a description and analysis of all the tax provisions in President Bush's proposed FY09 budget. It's a pretty pricey menu. See Report.
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