Congressional Budget Office (CBO)

CBO Updates Budget Estimates: Massive Deficits to Grow

The Congressional Budget Office today released its semi-annual update on the nation's budget situation. The report confirms massive deficits for the current year and beyond. In addition, the report shows that deficits will not be "cut in half" in the next five years, as projected by the Bush administration.

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CBO Confirms Record Deficits

Sep 7, 2004 by Guest Blogger

The CBO today released its semi-annual budget update. The report confirms record deficits of $422 billion for 2004.

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Economy and Jobs Watch: Tax Cuts Go Mostly to the Rich

The Congressional Budget Office has released a new study detailing the impact of recent tax changes on various income levels. The bottom line: The very, very wealthy made out very, very well.

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Tax cut distribution

Aug 13, 2004 by Guest Blogger

The Congressional Budget Office released a new study today detailing the impact of recent tax cuts on various income levels. Bottom line - the very, very wealthy made out very, very well.

From the New York Times:

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Estate Tax Repeal Would Hurt Charitable Giving, New CBO Reports Say

Two new studies by the Congressional Budget Office (CBO) find that a permanent repeal of the federal estate tax would greatly reduce charitable giving. The CBO estimated that overall charitable giving would decline between 6 and 12 percent, and the decline in charitable bequests would range from 20 to 30 percent, if the estate tax were fully repealed. Download full press release (.pdf)

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JEC Press Release Misinterprets Evidence on Charitable Bequests

WASHINGTON, D.C., July 29, 2004 - The majority leadership of the Joint Economic Committee, in a recent press release dated July 28, 2004, pointed to an increase in charitable bequest giving as evidence that changes to the estate tax law have not impacted giving. Download Full Release (.pdf)

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Watcher Newletter - July 26, 2004

Jul 27, 2004 by Guest Blogger

OMB Watch - The Watcher - July 26, 2004 Vol.5, No.15 -

Federal Budget
CBO Reports Charities Would Lose 6-12% on Estate Tax Repeal
Economy and Jobs Watch: Wages Fail to Keep Pace with Inflation
Tax Cuts: See You in September ...

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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.

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