In January each year, the new session of Congress opens. The 20th Amendment provides that The Congress shall assemble at least once in every year, and such meeting shall begin at noon on the 3d day of January, unless they shall by law appoint a different day. photo credit: gregor_y In 2011, the 112th Congress … Read more
See President’s Budget (CongressionalGlossary.com) The president’s budget, officially known as the Budget of the United States Government, is required by law to be submitted “On or after the first Monday in January but not later than the first Monday in February of each year.” (31 USC 1105). The budget contains estimates for spending as well … Read more
The Council of Economic Advisers and Policymaking Keith Hennessey has an excellent discussion from 2010 of the organization of the economic policy team inside the White House. I think I can instead add a little value by describing the different positions that make up the President’s economic team, and in particular by explaining … Read more
Dissatisfaction with the federal tax system has led to a debate about U.S. tax reform, including proposals for a national consumption tax. One type of proposed consumption tax is a value-added tax (VAT), widely used around the world. A VAT is levied on the difference between a business’s sales and its purchases of goods and … Read more