DAILY FISCAL POLICY REPORT -- Mar. 11, 2008

Budget Resolution (BR):
  • Senate -- Counting Votes: With close votes anticipated on tax amendments -- and on the resolution itself -- a key question is whether the absence of Sens. Clinton and Obama (campaigning) and Byrd (hospitalized) for part or all of the week will deprive Democrats of their working majority on BR votes... Senate Budget Chair Conrad: "Let's do the math. 51-49. We're down two, plus Sen. Byrd. 49-48."
  • House -- No Stimulus in BR: Unlike the Senate BR, which provides $35 billion for a second stimulus package, the House version includes no such plan. If unemployment reaches six percent, says House Budget Chair Spratt, "then I think we would at least come back and consider that [UI] component of an additional stimulus." Story.
Earmarks -- DeMint Ban Gains Support: Sens. Obama, Clinton, and McCain have now signed on to Sen Jim DeMint's (R-SC) proposal to ban earmarks for one year. Senate Majority Leader Reid and Minority Leader McConnell are withholding their support. The proposal may come up for a vote in the Senate as early as today. WSJ Comment: Earmarks Showdown Taxes/Stimulus -- Vets, SS Recipients Getting Tax Help: The IRS is sending special information packages to help 20 million recipients of Social Security or Veterans Affairs benefits file for stimulus tax rebates. The package is designed for taxpayers who may qualify for an economic stimulus payment but who generally are not required to file a tax return. IRS news release. IRS info package.
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