Monthly Archives: February 2012
- CHN: Sequestration – Will It Happen?
The Budget Control Act of 2011 (BCA, PL 112-025) that was passed last August calls for significant deficit reduction. The first installment of nearly $1 trillion in cuts went into effect immediately and is achieved through binding 10-year limits on annual appropriations bills. The second round of savings should add up to $1.2 trillion over Read More »
Posted in Budget and Appropriations, Economy Comments Off - CHN: The President’s FY 2013 Budget: Despite Tight Funding Caps, Some Human Needs Priorities Maintained
President Obama’s new budget attempts to balance the need to strengthen economic growth in the short term and reduce the deficit over the next decade. His proposal lives within the annual caps for appropriations set by the deficit reducing Budget Control Act of 2011. But it does not assume that even deeper automatic cuts will Read More »
Posted in Budget and Appropriations, Economy, Labor and Employment, Tax Policy, Unemployment Insurance Comments Off - CHN: Congress Passes an Extension of Unemployment Insurance and the Payroll Tax Cut
The deadlock over extending Unemployment Insurance (UI) benefits and the payroll tax cut was broken when Republican negotiators dropped their insistence that the $100 billion cost of extending the payroll tax cut would be paid for with spending cuts, leaving only $60 billion in offsets to be identified. Before recessing for the President’s Day week-long Read More »
Posted in Labor and Employment, Tax Policy, Unemployment Insurance Comments Off - CHN: Congress Up Against Deadline to Extend Unemployment Insurance and Payroll Tax Cut
If this has a familiar ring it is because the same programs the House and Senate took to the brink in December are again set to expire. In mid-December the Senate amended the House-passed Temporary Payroll Tax Cut Continuation Act of 2011 (H.R. 3630), refusing to accept the egregious restrictions it placed as the price Read More »
Posted in Budget and Appropriations, Labor and Employment, Tax Policy, Unemployment Insurance Comments Off - CHN: The Federal Budget on Autopilot?
The new federal budget cycle begins on February 13, when President Obama will release his budget proposal for the fiscal year beginning next October 1. He will adhere to the spending caps enacted in the Budget Control Act of 2011, which set maximum spending for annual defense and nondefense appropriations through FY 2021. He will Read More »
Posted in Budget and Appropriations, Economy Comments Off
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