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Monday, April 14, 2008
DAILY FISCAL POLICY REPORT -- April 14, 2008
Economy -- March Spending Figures Wane: Consumer spending, which accounts for more than two-thirds of the economy, is waning as consumers pay well over $3 a gallon for gasoline just as their jobs are in jeopardy and their homes lose value. Spending thus far in the first half of 2008 is at the lowest half-year rate since purchases dropped in the six months that ended March 1991. Story.
Taxes -- Extenders Package Out This Week?: As early as this week, Senate Finance Chair Max Baucus might unveil a $50 billion package of popular tax-cut extensions, including the R&D credit, but the mix of breaks and offsets required under PAYGO are still in flux. Leaders had to abandon a similar package last year because the parties could not agree on offsets.
Tax Day-Eve -- Last Tax Day of the Bush Era: Did Americans think in 2000 that tomorrow would be different for them after eight years of President Bush? "April 15 will mark the eighth 'tax day' during the administration of President George W. Bush. How has tax day changed? The answer for most Americans is: very little." An Appreciation.
Posted by Dana Chasin
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