Another Short Term Sequestration Fix?

Senate Democrats plan to announce a short-term sequester replacement bill this week aimed at combining alternative spending cuts and new tax revenue to avert $85 billion in automatic spending reductions scheduled to begin taking effect March 1st. Republicans, who adamantly oppose any use of tax revenue to replace the sequester, are not part of the… Read More


Bill Introduced to Protect NIH from Sequestration

Today, Congressman Jim McDermott (D-WA) joined his colleagues to introduce a bill to stop the across-the-board budget cuts scheduled for March 1st with a balance of increased revenue and sensible investments. The Balancing Act will halt impending automatic federal budget cuts, known as “sequester,” which would threaten important national investments like those in medical research—a… Read More


Obama Calls for Balanced Approach to Deficit Reduction

Today President Obama called on lawmakers to quickly pass a package of limited spending cuts and tax changes that can head off the automatic, across-the-board reductions — or sequester — that are set to take effect on March 1st. Obama will acknowledge that a broader budget agreement is unlikely to be reached by next month’s… Read More


Tax Reform in 2013?

Tax reform has been discussed as a probable agenda item for Congress to tackle this year.  But with the recent deal to increase tax rates for higher earners and making certain tax breaks permanent, there now seems to be waning interest in a comprehensive rewrite of our nation’s tax system.  There are several reasons why:… Read More


White House White Board on Tax Deal

For those of you who love to “white board” ideas, this video is for you!  In this new White House White Board, Brian Deese, the Deputy Director of the National Economic Council, explains what the new agreement to extend tax cuts for the middle class means for the economy and how it meets our Nation’s… Read More


Today in Congress

Yesterday marked the first day of the 113th Congress. For the 84 freshmen members, including Suzan DelBene (D-1st), Derek Kilmer (D-6th), and Denny Heck (D-10th), the real work starts (even though DelBene is a 6-week veteran as she filled the remaining term in Jay Inslee’s old seat). They join Congress at a time when the… Read More


Fiscal Cliff Averted

Early this morning, the Senate rang in the New Year by approving legislation to avert the economic impacts of the fiscal cliff. The bipartisan agreement makes changes to tax policy by allowing for the first income tax rate increase in nearly two decades and also delays the sequester by offering $24 billion in other spending… Read More


Fiscal Cliff Update

The Senate reconvenes today and will make a last attempt to legislate before large automatic tax increases and spending cuts take effect on January 1st. The House is scheduled to meet only in a pro forma session after Republican leaders said the Senate would need to act first to produce a legislative solution after their… Read More


Possible Deal to Avoid the “Fiscal Cliff”

A deal appears to be in the making to avoid the “fiscal cliff.”  Late yesterday, President Obama made a counteroffer back to House Speaker Boehner (R-OH) that would raise the top tax rates on income above $400,000, $400 billion in health care cuts, and $200 billion in discretionary cuts. The White House proposal also includes… Read More


FISCAL CLIFF COUNTDOWN: 15 DAYS

As we move into the last two weeks of the calendar year – and come ever closer to the edge of the “fiscal cliff” – House Speaker Boehner (R-OH) has offered to allow a tax increase on millionaires, which is a significant shift toward President Obama’s position on raising tax rates for the wealthy.  But… Read More