Panel on Nonprofit Sector Makes Final Recommendations to Senate Committee

On June 22, the Panel on the Nonprofit Sector released its Final Report on reform for charities, saying the measures are "intended to strengthen the ability of the nation's 1.3 million charities and foundations to serve as responsible stewards of the public's generosity." The 116-page report, which makes over 120 recommendations in 15 areas of nonprofit governance and financial reporting, was well received by Senate Finance Committee Chair Charles Grassley (R-IA) and Internal Revenue Service (IRS) Commissioner Mark Everson.

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OMB Report on Regulation Misguided, Misleading

An annual draft report from the White House Office of Management and Budget (OMB) misleads the public on regulatory safeguards and makes OMB appear poised to impose misguided anti-regulatory policies, OMB Watch and other public interest groups told the White House last week. About the Report

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Rhetoric Heats Up On Estate Tax as Political Reality Pushes Compromise

The Senate appears headed for another showdown on repeal of the estate tax, possibly before the August recess. With permanent repeal costing around $1 trillion over the first 10 years, there is discussion between Senate Republicans and Democrats on possible reform options. It is unclear whether these discussions on reform may turn into a back-door approach by pro-repeal groups to push through legislation that would amount to a virtual repeal of the estate tax.

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Senate Investigates the Program Assessment Rating Tool

On Tuesday, June 14 the Senate subcommittee on Federal Financial Management, Government Information, and International Security held a hearing on accountability and results in federal budgeting. Specifically, the hearing was held to investigate the specific metrics and tools used by the Office of Management and Budget (OMB) to measure the effectiveness of federal programs, the advantages and disadvantages of using these systems of measurement, and how information obtained is used to increase accountability in federal budgeting.

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Watcher: June 14, 2005

Federal Budget
  • House Conservatives Coopt Delay into Pushing Dangerous Budget Process Reforms
  • Erosion of Retirement Security Continues in America
  • Horrific and Costly Legislation to Repeal the Alternative Minimum Tax Introduced
  • Tax Cuts Often Slide Through Congress Undetected

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Latest Watcher

Be sure to check out the latest issue of our biweekly newsletter, The Watcher. Reg policy article this time: Congress Grapples With Industry Influence at FDA

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Erosion of Retirement Security Continues in America

A recent wave of bankruptcies has caused the benefit pension plans of many large companies to be significantly under-funded or fold, leaving millions of workers dependent upon the government-sponsored insurance system: the Pension Benefit Guaranty Corporation (PBGC). These bankruptcies have put additional pressure on the PBGC to cover the payments to millions of Americans who were planning on their pensions for retirement.

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Tax Cuts Often Slide Through Congress Undetected

It is one thing for Congress to cut taxes for major manufacturers such as those working in the wine, beer, and liquor industry, but it is another issue altogether to do so by burying the language in little-noticed sections of the highway reauthorization bill. Yet this is exactly what is happening right now and it is only one example of an increasingly opaque system Congress uses to make piecemeal changes to the tax code without debate.

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House Conservatives Coopt DeLay into Pushing Dangerous Budget Process Reforms

After House Republican leadership avoided the derailment of the FY 2006 budget resolution by a small group of House conservatives over a standoff about budget process rules, the movement to change those rules in Congress has picked up steam once again. This time, however, the group of conservative House Republicans has enlisted the help of a powerful ally: Majority Leader Tom DeLay (R-TX).

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Horrific and Costly Legislation to Repeal the Alternative Minimum Tax Introduced

In a strange development in late May, a bipartisan group of Senators on the Finance Committee cosponsored legislation introduced by Sen. Max Baucus (D-MT) to permanently repeal the Alternative Minimum Tax. However, the legislation does not include provisions to offset the huge cost of the bill.

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