February 21, 2012
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Read the articles from the February 21st edition, including pieces on sequestration, the President’s FY2013 Budget and the extension of unemployment insurance and the payroll tax cut.
- 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
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