Department of the Treasury

Completing Appropriations to Dominate Lame Duck Session

Only twice in the last 15 years has Congress been able to complete all 13 of the annual appropriations bills by the end of the fiscal year, and this year is no exception. To address this uncompleted business, the 108th Congress will reconvene Nov. 16 to begin a post-election lame-duck session.

Read More >>

Federal Spending Hits Ceiling Forcing Treasury to Act

Last week, federal spending again reached the debt limit put in place by Congress -- the legal amount, above which the federal government cannot borrow. If borrowing exceeds this ceiling, currently set at roughly $7.4 trillion, immediate action is necessary. Treasury Secretary John Snow was recently forced to take action to ensure that normal monetary transactions can continue.

Read More >>

Action Alert! The Unfortunate Return of the Balanced Budget Amendment

The full House Judiciary Committee met on September 22 to consider, once again, the ill-conceived constitutional Balanced Budget Amendment (H. J. RES. 22). The issue will most likely be revisited by the House Committee sometime next week, although it is currently unknown exactly when. Regardless of one’s opinions about the wisdom of balancing the budget or running massive deficits, the Balanced Budget Amendment is exceptionally bad economic policy. Download Press Statement - (.pdf, 1pp) Download Factsheet - (.pdf, 1pp) Take Action!

Read More >>

National Debt Limit Countdown

On August 2, Treasury Secretary John Snow urged Congress to raise the federal debt limit without delay, and warned that the limit will be reached by late September or early October.

Read More >>

JEC Press Release Misinterprets Evidence on Charitable Bequests

WASHINGTON, D.C., July 29, 2004 - The majority leadership of the Joint Economic Committee, in a recent press release dated July 28, 2004, pointed to an increase in charitable bequest giving as evidence that changes to the estate tax law have not impacted giving. Download Full Release (.pdf)

Read More >>