The recent death of Eric Garner after an incident with New York police has recently made headlines and sparked controversy about excessive force and police practices. Sources report that police and prosecutors are...
- The President's Fiscal Year 1994 Budget
The President's Fiscal Year 1994 Budget
Special Report No. 19
Executive Summary The Clinton administration has released its fiscal 1994 budget, which lays out in detail proposals contained in its February economic statement, A Vision of Change for America. The budget focuses on the dual goals of deficit reduction and increased spending on "investments." On the first goal, the president’s plan proposes to narrow the deficit to $250 billion by FY'98, compared to the record FY'93 deficit of $322 billion.
On the second goal, the president has proposed increased investment spending totaling $140 billion over the FY'94 to FY'98 period. This spending will mean discretionary spending caps set for FY'94 and FY'95 by the 1990 Budget Enforcement Act will be exceeded.
The Clinton budget proposes a 34 percent increase in federal revenues and a 21 percent increase in federal spending over five years. For FY'94, revenues would go up 9.2 percent and spending would rise 3.3 percent over FY'93 levels.
- Education tax credits have grown from a $4.5 billion program claimed by 4.7 million taxpayers in 1998 to a $17.4 billion program claimed by over 7 million taxpayers in 2011....
Congress is currently considering tax extenders, the renewal of expiring or recently expired tax provisions. Among the provisions is 50 percent bonus expensing, otherwise known as bonus depreciation. The...
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