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How Temporary is the Estate Tax's Death?

Jan 4, 2010 by Gary Therkildsen*

The Estate Tax Will Rise Again

Just before senators departed for the Christmas holiday, they wrapped up most of their pressing business for the year, including health care reform and an extension of the debt ceiling, but they failed to address the expiring estate tax. Because of the Senate's inaction, the estate tax effectively died on Jan. 1 and will stay dead until Jan. 1, 2011. That is until senators return from their winter break and resurrect the tax, which top tax writers on Capitol Hill are promising to do before March.

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Whoops, Agencies Forget to Send Rules to Congress, Potentially Invalidating Them

Jan 5, 2010 by Matthew Madia

Hundreds of regulations may not officially have the force and effect of law because rulemaking agencies have not performed a simple procedural task, according to a Congressional Research Service (CRS) report issued last week.

Under the Congressional Review Act, a 1996 law that essentially gives Congress a window of opportunity to veto agency regulations, agencies must submit to Congress and the Government Accountability Office (GAO) copies of new final regulations.

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IRS to Weed out 'Used Car Salesman' Tax Prepares

Jan 5, 2010 by Gary Therkildsen*

Trust Me

How much do you trust the fine folks at H&R Block or Jackson Hewitt to properly prepare your taxes? Soon you'll be able to trust them a lot more. According to a Washington Post article published today, the Internal Revenue Service (IRS) "plans to test, register and screen people who get paid to prepare tax returns," as the agency seeks to "crack down on preparers who do shoddy or fraudulent work." The IRS will phase in the changes during the 2011 tax season.

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EPA Takes Aim at Past Air Pollution Screw Ups

Jan 7, 2010 by Matthew Madia

Today, the U.S. Environmental Protection Agency (EPA) proposed a revision to the national air quality standard for ozone, a.k.a. smog. EPA is proposing to tighten the primary standard to a level somewhere between 0.060 and 0.070 ppm (parts per million), down from the current standard of 0.075 ppm set in 2008. Under the Clean Air Act, EPA must set the primary standard at a level protective of public health.

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Social Innovation Fund Issues Proposed Notice of Funds Available; Requests Feedback

Jan 11, 2010 by Lateefah Williams*

The Social Innovation Fund, a program of the Corporation for Community Service and the Obama administration’s major philanthropic effort, has issued a Proposed Notice of Funds Available (NOFA) and a request for feedback. SIF will award up to $50 dollars in federal funding during Fiscal Year 2010.

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CBO Monthly Budget Review, December 2009

Jan 11, 2010 by Gary Therkildsen*

Congressional Budget Office

Oh, boy, it's that time of the month again, the Congressional Budget Office (CBO) has released its Monthly Budget Review (MBR) for December. Let's see, the government spent a little less than it did at this time last year, but it continued to take in less money, which, along with the deficits in October and November, created an approximately $390 billion budget deficit through the first quarter of fiscal year 2010. Overall, the MBR continues to paint a rather ugly picture of government finances.

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OIRA Meetings Stir Controversy over Coal Ash Regulation

Jan 11, 2010 by Matthew Madia

Industry representatives have repeatedly visited the White House to discuss pending regulation of coal ash, raising suspicions that industry may be influencing the rule. In December, amid these meetings, EPA announced it was backing away from its earlier pledge to propose coal ash regulations by the end of 2009.

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Food Safety Agenda Suffers without USDA Appointee

Jan 12, 2010 by Matthew Madia

President Obama still has not nominated an undersecretary for food safety at the U.S. Department of Agriculture, as Congress Daily reports today. Almost a year into his administration, the Food Safety Inspection Service – the federal agency in charge of making sure meat, poultry, and eggs are safe and labeled properly – is still without a leader.

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Knee-Capping Budget Thuggery from OMB?

Jan 13, 2010 by Craig Jennings

WaPo's Federal Eye (AKA Ed O'Keefe) reported this morning that the House Committee on Oversight and Government Reform is investigating whether the Office of Management and Budget (OMB) is threatening inspectors general (IGs) for reporting to Congress insufficient FY 2011 budget levels.

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Enemies of the Estate Tax Assemble

Jan 14, 2010 by Gary Therkildsen*

Pigs at the Trough

With the estate tax down and out for the time being, groups that for decades have sought to repeal the tax are gathering to make a push in Congress to keep the estate tax from coming back. In a recent online piece, John McKinnon of the Wall Street Journal, a newspaper whose editorial board never saw a tax repeal proposal that it didn’t like, wrote a short profile on the "small business group" the American Family Business Institute (AFBI), which McKinnon describes as currently waging an “all-out campaign for a permanent repeal.”

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