The Senate will vote tomorrow on an amendment to small business legislation that would seriously weaken an essential element of the new health reform law — the requirement that individuals obtain health insurance or pay a penalty — and eliminate preventive care funding aimed at reducing the onset of chronic diseases and improving overall health.
BEYOND THE NUMBERS
Analysts Mark Zandi, Peter Orszag, and Howard Gleckman have all said sensible things about what would be the best policy for dealing with the expiring Bush tax cuts (which include a panoply of “middle class” tax cuts as well as cuts in marginal tax rates for the richest 2 percent of taxpayers). Unfortunately, their smart policy analysis has been lost in the headlines generated by their actual proposals, which are colored by their political judgment about what might be achievable in today’s fractious (and fractured) Congress.
We issued an analysis this morning of House Minority Leader John Boehner’s proposal to cut funding for discretionary (i.e., annually appropriated) programs other than defense, homeland security, and veterans and to extend all of President Bush’s tax cuts for two years, including those for the wealthiest Americans. Here are the highlights:
Today’s quiz topic is the federal estate tax, which is a tax on property – like cash, real estate, stock, or other assets – that is transferred from deceased persons to their heirs. Lawmakers will have to decide soon whether to make the current temporary repeal of the estate tax permanent or to renew the tax in some form.
Today, we sat down with Chuck Marr, the Center’s Director of Federal Tax Policy, to discuss upcoming Congressional action on the estate tax.
[audio: http://www.cbpp.org/files/09-07-10-estate-tax-final.mp3| titles=Podcast: Next Steps on the Estate Tax]
Chuck, let’s begin with a quick review of what the...
With Congress returning from recess next week, we’ll post a quiz each morning this week on a key issue facing lawmakers this fall. Today’s topic: President Bush’s 2001 and 2003 tax cuts, which are due to expire at the end of this year.
The Atlantic’s Megan McArdle has written another post about our comparison over the next 75 years of the Social Security shortfall and the cost of the Bush-era tax cuts for high-income taxpayers. The gist of Ms. McArdle’s argument seems to be that we’re not computing the present value of these two policies in the same way. That’s simply incorrect.