November 23, 2014

Blogs

An update on budget news

Below are a few budget items we have been following, since the last edition of the Washington Budget Report (

Budget Story Update

While we publish a weekly Washington Budget Report (sign up here), we wanted to direct your attention to some other budget items we are watching this week.

House Considers Extenders Bill Adding $167 Billion to the Deficit Over Five Years

The extenders bill that the House will consider this week is a timely reminder of why it is important for Congress to complete action on a budget resolution.  A budget resolution continues to elude Congress, but there has been considerably less trouble reaching

Who should pay the costs of the oil spill? All of us, really.

 

recent story on CNN-Money by Steve Hargreaves asks “What will BP really pay?” I think a more fundamental question to ask at this point is “What should BP pay? And should no one else?” As the story explains (emphasis added):

Fiscal Commission’s short-term goal is a distraction

President Obama’s bipartisan fiscal commission will hold its first meeting on April 27. It has two very ambitious assignments -- find a way to balance the budget excluding interest on the debt by 2015 and “meaningfully improve” the long-term fiscal outlook. All of this is supposed to be done by December 1, 2010.

That’s quite a task. It may even be too much to ask. So here is a simple suggestion for the commission: Leave the short-term goal to the regular budget process and focus on the more important long-term goal.

Why the President Should Break His Promise on Taxes

I have never been a fan of the Bush tax cuts. I’ve always felt they were too costly, too skewed to the rich, and did too little to make the tax system more efficient. Concord also warned about the 2001 and 2003 tax cuts before they were enacted and has since continuously said they should not be extended without a plan to address the nation's unsustainable fiscal outlook.

We can't turn health care reform into "something for nothing"

According to a March 29 Roll Call article (subscription required), Senate Republicans have gone home for the two-week congressional recess with a strategy memorandum advising them to call for repeal of “Medicare cuts, tax hikes, mandates and sweetheart deals” in the new health care reform legislation.

Newly Redesigned Washington Budget Report

This week, Concord debuts a redesigned version of our Washington Budget Report

Are We There Yet? (Reaction to CBO and the Upcoming Vote on Health Care Reform)

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It looks like we might be entering the final week(s) of (at least) this year's legislative push on health care reform.

Thursday brought us legislative text of the amendments to the Senate bill that the House will take up through the reconciliation process as well as an updated CBO score of the whole package. It is likely the House will vote on the bill package Sunday. If they do so, the Senate bill will become the law of the land, and the reconciliation amendments will then have to make it though the Senate before those become law.