Budget

Congressman Dingell's Career in BillTally Figures

Posted By: Dan Barrett - June 7, 2013

With Congressman Dingell (D-MI) becoming the longest serving Member in the House of Representatives, I thought it would be interesting to put his career in context. He has served since 1955 and was elected to his 29th term in office this year. Through those 57 years, he supported a lot of legislation that would change how the government spends tax dollars. However, it's hard to put an overall career number of how much he would spend or save if his legislation was all enacted. As a Congressman for 57 years, he predates NTUF's BillTally project (and for that matter the National Taxpayers Union and Foundation) but I pulled together the totals that he has supported in the last 20 years. Note: NTUF has data from the 107th to the 112th Congresses online.

Proposed Spending Agendas of Congressman John Dingell (D-MI) (in millions of dollars)
Congress	Increase	Decrease	Net
102	$84,786	($1,589)	$83,197
103	$539,660	($95)	$539,565
104	$538,451	($66)	$538,385
105	$557,479	$0	$557,479
106	$606,877	($8)	$606,869
107	$626,931	($854)	$626,077
108	$647,529	($3)	$647,526
109	$651,110	($508)	$650,116
110	$607,283	($662)	$606,621
111	$937,076	($7,441)	$929,635
112	$77,810	($13,731)	$64,079
102-112 Average	$534,090	($2,269)	$531,777
Source: NTUF BillTally System

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Scandal-mania Runs Wild! - Speaking of Taxpayers, May 17, 2013

Posted By: - May 20, 2013

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Back from an unwelcome hiatus, and the Washington world has gone haywire! In an extended podcast, Pete & Doug discuss the IRS scandal, and NTUF's pros update on "Obamacare's" cost and the most and least expensive bills out there. And, the Outrage of the Week!

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The Budget: CBO's (Updated) Look Ahead

Posted By: Michael Tasselmyer - May 15, 2013

On Tuesday, the Congressional Budget Office (CBO) released its updated baseline and budget projections for Fiscal Years 2013-2023. The report is an update of CBO's February projections, and provides a detailed forecast of where economists see tax and spending patterns heading over the next ten years.

You can read the full report by clicking the link above. Below are a few highlights that I thought were worth mentioning in the limited room that a blog post affords me.

The deficit in Fiscal Year 2013 will be lower than it has been in recent years.

CBO lowered its estimate for FY13 deficits to $642 billion, nearly $200 billion lower than its February estimate of $845 billion. This is certainly good news, and indicates a slight shift towards more sustainable deficit levels -- at least in the short term.

However, it represents the effects of certain "extraordinary" circumstances, namely:

Large dividend payments ($95 billion worth) from Fannie Mae and Freddie Mac to pay back amounts they borrowed from the government, which CBO counts as "negative outlays." These are one-time effects that don't really say much about long-term trends.
Major increases in tax revenues this past April, probably a result of high-income earners shifting much of their taxable income to 2012 in order to avoid looming higher rates in tax year 2013. Corporate tax receipts were also higher than expected. Again, this effect is much higher on 2013 deficits than in CBO's long-term averages.

By 2015, the deficit will fall to 2.1 percent of GDP. It'll rise again after that.

In 2023, CBO expects the deficit to get back to around 3.5 percent of GDP, higher than historical averages. Debt held by the public should hover in the 71-76 percent of GDP range over that time:

debt_cbo_514

Health care, Social Security, and interest payments will drive future spending.

By CBO's estimates, Medicaid, Medicare, and Social Security spending will be lower over the next 10 years than forecast in February. However, those costs will still be driving government spending in the coming decade even as other discretionary spending decreases as a percentage of GDP:

spending_cbo_514

Of course, with economic forecasts come a degree of uncertainty, so these projections may change as new laws are enacted. However, they offer a useful point of comparison against which various policy proposals can be measured when it comes to their effects on the budget.

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The Late Edition: May 9, 2013

Posted By: - May 9, 2013

Today’s Taxpayer News!

Pete Sepp weighs in on the future of the so-called “Marketplace Fairness Act” in this US News op-ed.

Thanks to Governor Martin O'Malley and Lt. Governor Anthony Brown, Marylanders will endure 40 different tax and fee increases totaling an additional $20 billion from 2007 through 2018. Read the full story from the Potomac Patch.

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The Late Edition: May 8, 2013

Posted By: - May 8, 2013

Today’s Taxpayer News!

NTU’s Pete Sepp applauds Senator Rand Paul’s recent proposal to repeal the burdensome "Foreign Account Tax Compliance Act" (FATCA), which taxes Americans abroad. Read the full story from the Wall Street Journal.

This piece from cincinnati.com explains that not only does the President’s 2014 budget proposal raise taxes by $1.1 trillion over a decade and increase spending by $800 billion; it never balances.

One of the drug manufacturers which originally supported and lobbied for “Obamacare” is now calling the law ‘catastrophic’, says the Daily Caller.

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The Late Edition: May 7, 2013

Posted By: - May 7, 2013

Today’s Taxpayer News!

NTU’s Pete Sepp speaks about the negative effects of the “Marketplace Fairness Act”, which passed the Senate yesterday and is headed to the House to be voted on. Read more from the Christian Science Monitor.

The federal government has managed to run a $489 billion dollar deficit since the fiscal year began, according to the Congressional Budget Office.

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The Taxpayer’s Tab, Plus Americans on ObamaCare and Excise Taxes - Speaking of Taxpayers, May 3

Posted By: - May 6, 2013

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NTUF's Dan Barrett joins Pete and Doug to discuss the latest Taxpayer's Tab issues, plus new polls reveal Americans' lukewarm reaction to ObamaCare and excise taxes for junk foods.

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The Late Edition: May 6, 2013

Posted By: - May 6, 2013

Today’s Taxpayer News!

The Reason Foundation weighs in on the federally funded municipal broadband program, and includes NTU’s analysis of Utah’s costly UTOPIA initiative.

The New York Times takes a look at ever-increasing airline taxes, and possibilities on the table for the future of air travel.

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The Late Edition: May 2, 2013

Posted By: - May 2, 2013

Today’s Taxpayer News!

NTUF’s Dan Barrett weighs in on the spending records of four U.S. House members from New Jersey who may run for the Senate in 2014.

Fiscally conservative groups are warning Congress that any attempt to raise the debt-ceiling will need to include a balanced budget amendment, according to The Hill.

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The Late Edition: April 23, 2013

Posted By: - April 23, 2013

Today’s Taxpayer News!

Obama's 2014 budget contains damaging energy policy goals, says NTU’s Pete Sepp in this US News piece.

Gas prices are high enough without adding additional state taxes onto them, say 66% of the public. Read the full story from CNN.

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