Category Archives: Fiscal Freedom

KATHMANDU, MARCH 30

Minister of Communications and Information Technology Gyanendra Bahadur Karki has said the incumbent government is committed to press freedom and freedom of expression.

At a programme on 'Impact of COVID-19 on journalists and media' organised on the occasion of 67th anniversary of Federation of Nepali Journalists here today, Minister Karki said that democracy and press freedom were integral. Urging the media sector to play an active role to institutionalise democracy and strengthen it, he lauded the role played by the overall sector of journalism to establish democratic federal republic and during the COVID-19 pandemic.

Also the spokesperson of the government, Minister Karki opined that the incumbent government was committed to ensuring press freedom and safety of journalists at a time when the constitution of Nepal had ensured press freedom and right to information as fundamental rights. He mentioned that the government had established Journalist Welfare Fund of Rs 53.2 million with the objective of helping senior journalists in their livelihood, adding that the arrangement of national journalism award of Rs 100,000 had also been made for six journalists and media.

"An arrangement has been made where two journalists will be honoured with Rs 200,000 and letter of felicitation every year as well as one per cent customs duty on papers imported by media houses to print news," he shared. Minister Karki further said the government was making preparation to carry out all the activities related to journalism and mass media through the medium of information technology from the upcoming fiscal year and discussion was under way to give final shape to a media related bill.

He also sought suggestions on different issues, including finalisation of the draft of national mass communication act, issues raised by stakeholders over recent amendment to national broadcasting regulations, free treatment to journalists, implementation of journalists welfare fund and establishment of mass communication academy.

On the occasion, FNJ President Bipul Pokharel said the issues of press freedom and working journalists were raised simultaneously, demanding to make media-friendly laws by holding enough discussion with stakeholders.

The FNJ organised morning rally, futsal competition, interactions on different issues related to media, blood donation and health camp on the occasion.

A version of this article appears in the print on March 31, 2022, of The Himalayan Times.

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'Government committed to press freedom' - The Himalayan Times

President Joe Biden finally released his budget request for fiscal year 2023 on Monday, almost two months late.

Unsurprisingly, the Biden budget is bloated with excessive spending, harmful taxes, more regulations, and control over Americans lives, along with damaging policy proposals.

The budget matters because the power to tax and spend is the key to everything the federal government does.

If we are going to save America from the politicians, bureaucrats, and cultural elites empowered by expansive government spending, its necessary to reverse the growth of the size, scope, and reach of the government.

Congress should reject Bidens budget proposal and instead focus on solving the most important challenges facing the country, such as reversing government spending and inflation, promoting energy independence, empowering parents, and strengthening the rule of law and free enterprise so that the United States can outcompete any competitor, including Communist China.

There are five major problems with Bidens budget:

1) Reckless and Inflationary Spending

The administration laughably claims this budget values fiscal responsibility.

Government spending is alreadyunsustainable. Unfortunately, Biden would hit the gas pedal on government spending, pretending like there are no consequences.

American families are suffering under inflation levels not seen in four decades,hitting 7.9%last month. Thisinflationhas been fueled by irresponsible government spending and monetary policies, coupled with harmful labor, energy, food, housing, and trade laws that have pushed prices higher.

On top of the spending spree Biden and his allies in Congress went on last year, Bidens budget calls for $72.7 trillion in spending over the next decadeaveraging more than $1.4 trillion in higher annual spending than even this years extravagant budget.

Debt would skyrocket from $30.2 trillion today to more than $44.8 trillion over the next decade. Annual budget deficits would start at $1.2 trillion in fiscal year 2023 and rise to $1.8 trillion by 2032.

Thats like an average family that is already $234,000 in debt spending between $9,300 and $14,000 more than it makes each year, with its total debt reaching $347,000 in just 10 years.

Ordinary households cant spend without restraint, and the federal government shouldnt be able to, either. Yet, Bidens budget represents a total rejection of the idea that the federal government is bound by any sort of constitutional limitations.

The Biden administrations policies are already eating away at households budgets through massive inflation, and this budget would further squeeze them through reckless spending and tax hikes.

2) Radical Policy Priorities

The Biden budget is a liberal wish list, comprising one outrageous policy proposal after another.

Despite a bipartisan rejection of the radical idea that taxpayers should ever fund abortion, it fails to include theHyde Amendment. The Hyde Amendment has saved an estimated2.4 millionlives since 1976. Biden also proposed a 40% increase in Title X funding, dramatically expanding federal subsidies to entities that perform abortions.

Even with gas prices reaching more than$4 per gallon, the Biden budget doubles down on this administrations dubious Green New Deal agenda that would jeopardize Americas energy diversity andchoke our energy supply.

Sending billions of tax dollars to unproven energy sources politically preferred by liberal elites iscronyism. At a time when we are challenged with authoritarianism around the world, weshould insteadbe promoting energy freedom here at home.

Biden proposes an unprecedented level of federal fundingand control be bestowed on theeducation establishment,along with a huge increase in subsidies for college education, even though current subsidies are already inflating tuition pricesthrough the roof.

Even though the core subject of a budget document is the nations finances, the Biden budget still pays fealty to left-wing social causes throughout.

The main budget document uses the word equity 73 times, equitable 39 times, diverse or diversity 18 times, inclusion or inclusive 18 times, and the specific phrase transgender, queer, and intersex five times.

On defense, the Biden administration is touting once again investments in research and development, while reducing our military capacity via retirements of ships and aircraft at a faster rate than replacements.

As the Russian invasion of Ukraine shows, the military needs to be able to deterand if that fails, fighttonight, not five to 10 years from now.

Further, instead of investing in military capabilities and capacity, the Biden administration chooses to request billions of dollars for initiatives that would be better suited in a Green New Deal than in the Department of Defense. When it comes to defense, its a budget that does not take the threat of China seriously and allows inflation to erode defense dollars.

The budget would even allowMedicareto fall into insolvency in 2026 and theSocial Securitytrust fund to be depleted in 2033. Both programs are in need of reform to achieve better results for those who depend on them.

3) Harmful Tax Increases

The Biden budget proposes $2.5 trillion in harmful tax increases that will hit American families.

That doesnt even include across-the-board tax increases from ending the Trump tax cuts for individuals beginning in 2026. All Americans tax rates would increase under Bidens plan, and the standard deduction would be cut in half.

The tax increases would also be devastating for American businesses. A proposed 7 percentage point corporate tax rate hike would give the United States thehighestcorporate tax rate among the 38 Organization for Economic Cooperation and Development nations.

Research shows that labor bears between75% and 100%of the burden of corporate tax increases in the form of lower real wages and reduced employment.

Under Bidens plan, business expensing for capital investments would start phasing out at the end of this year, making it more expensive to add manufacturing capacity or new equipment.

Thats exactly the wrong policy prescription, going into effect just as America needs more investment here at home in order to outcompete China.

Biden is even proposing a first-of-its-kindtax on unrealized capital gainsin an attempt to tax the assets of wealthy Americans. Falsely billed as a billionaire minimum income tax, this convoluted wealth tax proposalwould resultin less investment in America, reduced income for workers, and more power for bureaucrats, lawyers, and accountants.

All the new tax provisions mean more money for the IRS. The budget calls for an 18% boost in the agencys funding.

4) Loaded With Gimmicks

On top of the many problems with the spending, taxes, and policies in this budget, its also loaded up with gimmicks and rosy economic assumptionsincluding a reserve fund that could be used to sneak trillions of dollars of new big-government programs on top of whats directly proposed in this budget.

We know that the excessive government spending, burdensome taxes, and costly regulations called for under this budget are a recipe for economic stagnation. Despite that, the Biden administration imagines its budget will produce low inflation, steady growth, and low unemployment, when in reality, the opposite would be likely.

5) Irresponsibly Late

The president is required by law to submit his budget by the first Monday in February. Biden blew through that deadline and is filing his budget documents nearly two months after they were due.

At 49 days late, Bidens fiscal year 2023 budget is thesecond-latest presidential budgetin history (excluding presidential transition years), trailing only President Barack Obamas 65-day miss for fiscal year 2014.

This blatant disregard for the law and process is justanother exampleof the lack of discipline from Biden and his administration.

In summary, then, the Biden budget is irresponsible and would be harmful for American families in many ways.

Congress needs to turn the tide of federal overspending and inflation. The first step would be to reject Bidens budget request and efforts to revive the failed Build Back Betterbig-government socialist spending bill.

Instead, lawmakers should adopt aBudget Blueprintto roll back excessive government spending, prioritize taxpayer dollars, reform major entitlement programs, restore federalism, promote opportunity for all, and protect rights and our American values.

This piece originally appeared in The Daily Signal

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5 Big Problems With Biden's Big-Government Budget - Heritage.org

After several weeks of budget hearings on Capitol Hill, witnesses will finally have a budget to talk about.

The White House is expected to release its fiscal 2023 proposals on Monday, roughly a month later than is typical. Although the details have been kept under wraps for weeks, lawmakers have gone ahead with their annual oversight work anyway, inviting a number of combatant commanders to testify on their needs and wants for next year.

Lawmakers draw battle lines for FY23 defense spending ahead of White House budget release

With the official spending plan released, however, lawmakers will be able to dive into more specifics. That starts Tuesday, with the head of U.S. European Command and Transportation Command testifying before the Senate Armed Services Committee.

Congress is expected to begin drafting its own defense and Veterans Affairs spending plans in coming weeks, with the goal of passing a full-year budget before the November midterm elections. The new fiscal year starts on Oct. 1, but lawmakers have rarely met that deadline to finish their budget work.

Tuesday, March 29

Senate Armed Services 9:30 a.m. G-50 Dirksen European and Transportation commandsGen. Tod Wolters, head of European Command, and Gen. Jacqueline Van Ovost, head of Transportation Command, will testify on current missions and the fiscal 2023 budget request.

Senate Appropriations 10 a.m. 192 Dirksen Defense Health programLt. Gen. Ronald Place, director of the Defense Health Agency, and the surgeons general of the military services will testify on current operations and the fiscal 2023 budget request.

House Budget 10 a.m. 210 Cannon FY2023 budgetShalanda Young, director of the Office of Management and Budget, will testify on the fiscal 2023 budget request.

House Veterans' Affairs 2 p.m. Visitors Center H210 Pending legislationThe subcommittee on disability assistance will consider several pending bills.

Senate Veterans' Affairs 3:30 p.m. 418 Russell Military toxic exposureVA officials and outside advocates will testify on toxic exposure treatment and benefits issues.

Wednesday, March 30

House Armed Services 10 a.m. 2118 Rayburn European securityGen. Tod Wolters, head of European Command, and Celeste Wallander, assistant Secretary of Defense for International Security Affairs, will testify on the strategic implications for the conflict in Ukraine.

House Homeland Security 10 a.m. 310 Cannon Russian cyber threatsAdministration officials will testify on the threat of Russian cyber attacks on American infrastructure.

Senate Budget 11 a.m. 608 Dirksen FY2023 budgetShalanda Young, director of the Office of Management and Budget, will testify on the fiscal 2023 budget request.

House Foreign Affairs 2 p.m. 2172 Rayburn Indo-Pacific policyState Department officials will testify on the implications of the Ukraine crisis for U.S. policy in the Indo-Pacific region.

House Armed Services 2 p.m. 2118 Rayburn Military health system Lt. Gen. Ronald Place, director of the Defense Health Agency, and the surgeons general of the military services will testify on current operations and the fiscal 2023 budget request.

House Veterans' Affairs 2 p.m. Visitors Center H210 Pending legislationThe subcommittee on oversight will consider several pending bills.

Senate Foreign Relations 2 p.m. 106 Dirksen Freedom of speech Outside experts will testify on government infringement on freedom of speech in Asian nations.

Thursday, March 31

House Armed Services 10 a.m. 2118 Rayburn Ammunition productionMilitary officials and outside defense business leaders will testify on efforts to modernize conventional ammunition production.

Senate Foreign Relations 2 p.m. 106 Dirksen Latin AmericaState Department officials will testify on Chinas influence in Latin America.

House Veterans' Affairs 10 a.m. Visitors Center H210 Veteran extremismVA officials and outside experts will testify on problems with extremist ideology in the veterans community.

House Homeland Security 10 a.m. 310 Cannon Unmanned aircraftAdministration officials will testify on the threat of unmanned aircraft on American infrastructure.

House Appropriations 10:30 a.m. online hearing Military privatized housing Service officials will testify on ongoing efforts to improve privatized housing for military families.

House Armed Services 2 p.m. 2118 Rayburn Transportation commandGen. Jacqueline Van Ovost, head of Transportation Command, will testify on current missions and the fiscal 2023 budget request.

House Foreign Affairs 2 p.m. online hearing COVID-19 in AfricaState Department officials will testify on policy and strategic concerns related to the spread of coronavirus in Africa.

Friday, April 1

House Armed Services 10 a.m. 2118 Rayburn Weapons of mass destruction Deborah Rosenblum, Assistant Secretary of Defense for Nuclear Programs, will testify on department efforts to counter weapons of mass destruction.

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This week in Congress: White Houses FY23 budget plan finally arrives on Capitol Hill - Yahoo News

If all you read were the op-Ed pages of Americas newspapers, you could be forgiven for thinking that the bloody and tragic invasion of Ukraine by Russia was actually a good thing.

From David Brooks in the New York Times explaining that the war demonstrates the superiority of the Western, liberal form of government to Jill Lawrence in USA Today celebrating a golden moment of bipartisanship, there have been numerous reminders since the war began, that, for all our faults, America remains a bulwark of freedom and democracy in the world.

After a long period of gloom about American decline and pessimism about the state of the world, Americans have reason to be proud of our united world leadership in response to Putins aggression. A bit of national self-congratulation is certainly justified.

And there is even reason to believe there will be other benefits from the invasion. Maybe Donald Trumps description of Vladimir Putin as a genius has finally ended his 2024 presidential campaign. Maybe cynical opportunists such as J.D. Vance, the Republican candidate for U.S. Senate in Ohio, who said just before the invasion the he didnt really care what happens to Ukraine, will pay a political price.

Nevertheless, there are also reasons to temper these good feelings.

First, neither the sanctions imposed on Russia, nor the inspiring courage of the Ukrainian people in resisting the invasion have stopped Putin. The common assertion that Putin has already lost because the invasion has not been as easy as he expected, clashes with the reality that Russian military superiority and ruthlessness are gradually grinding down Ukraines defenses. If Putin is willing to pay the price, Russia will defeat Ukraine.

That is related to the second reason for caution. Its a dangerous world and regimes that wish us harm are not going to be deterred by the Western response to Putin. Iran, for example, may draw the conclusion that if a country possesses nuclear weapons, it need not fear a military response to anything it does.

Third, without in any way justifying Putins attack on Ukraine, an interview of George Keenan by Thomas Friedman in 1998, quoted in a recent New York Times column, reminds us that the eastward expansion of NATO following the breakup of the Soviet Union was probably a strategic blunder.

Ukrainians are fighting and dying to defend their homes. Could I do the same? | Bruce Ledewitz

Keenan told Friedman that Russia would inevitably react adversely to the presence of a hostile military alliance on its border. The goal in the 1990s should no longer have been containment of Russia, but integration of Russia into the European family of nations.

Nor, for all the references to freedom and democracy, has our response to the Ukrainian invasion really been about universal values. We have probably all heard by now the criticism that conflicts in Africa involving much more human suffering than is the case in Ukraine go almost without mention in the American media.

We can thank Putin for reintroducing a degree of realism to American public life. But the truth is, we have a long way to go before we return to rational politics.

Some of this difference is undoubtedly attributable to the kind of subliminal racism that often treats news about people of color with less attention than events involving white people. Partly the explanation for attention to Ukraine is historicalAmerica has a long history of involvement in European affairs.

Republicans denounce Putins war on facts, but are silent on the one at home | John L. Micek

But the fundamental reason for all the attention is that support for Ukraine is not really about freedom and democracy or even about human suffering. The American people are justifiably cautious about any such rhetoric, probably still feeling burned by the Freedom Agenda propounded by President George W. Bush in his second inaugural address in 2005.

American almost universally support stopping Putin, as opposed to involvement in other kinds of conflicts, because the invasion of Ukraine by Russia violates the very traditional international norm against military aggression by large countries against smaller ones. Everybody can see that without enforcement of that norm, the whole world will descend into chaos and war.

In contrast, many other conflicts in the world are more like civil wars.

Finally, the main reason to hesitate in our self-congratulation over our response to Ukraine is that American public life remains as unhealthy as it was before the invasion.

Its not just that we will go back to our extreme partisanship as soon as the shooting stops, though that is true. Worse, we are just as irresponsible in our support of Ukraine as we are about everything else.

The best example of this irresponsibility was the debate in the House in early March over an omnibus spending bill that would keep the government running through September. Congress had to pass a bill by March 11 to keep the government from shutting down. To maintain government operations while the Senate voted on the spending bill, the House voted to continue interim funding for the government until Tuesday, March 15.

This wrangling highlighted the absurdity that the federal government has been running for years based on stopgap funding billsin February, President Joe Biden signed a bill to keep the government open for three weeks. America is constantly on the verge of shutdown and default.

This is no way to conduct our national affairs.

The spending bill the House passed also contained an emergency authorization of nearly $14 billion for humanitarian and other aid for Ukraine. This spending had widespread support.

But at a time of large deficits and high inflation, there was no mention in the debate of the need to pay for this additional spending.

Granted, $14 billion is not a large amount in the overall scheme of things. The federal deficit in fiscal year 2021 was around $2.8 trillion.

But the point is, spending is not free. It is not much of a commitment to Ukraine if we are unwilling to pay for it. If it was too much to ask for a temporary tax increase to pay for this spending, why not a special no-interest bond issue for Ukrainea war bond? The American people would have been happy to pay for aid to Ukraine.

In many ways, we continue to live in a fantasy world. Climate change is not a problem. Vaccines are dangerous impositions on freedom. We need to keep masks on forever to reduce the coronavirus threat to zero. Spending is free. Cutting taxes pays for itself.

All nonsense.

We can thank Putin for reintroducing a degree of realism to American public life. But the truth is, we have a long way to go before we return to rational politics.

Opinion contributor Bruce Ledewitz teaches constitutional law at Duquesne University Law School in Pittsburgh. His work appears biweekly on the Capital-Stars Commentary Page. Listen to his podcast, Bends Toward Justicehere.His latest book, The Universe Is On Our Side: Restoring Faith in American Public Life, is out now. His opinions do not represent the position of Duquesne University Law School.

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There are limits to the American Renaissance over Ukraine | Bruce Ledewitz - Pennsylvania Capital-Star

(The Center Square) A new report on Americas governors and their commitment to economic freedom scored Gov. Tom Wolf near the bottom of the pack.

The Laffer-ALEC Report on Economic Freedom, published by the American Legislative Exchange Council, grades every governor on their current economic performance and their fiscal and executive policies over their term in office. The report focuses on economic performance, executive policies, and fiscal policy, considering measures such as education freedom, interstate migration, unemployment rate, and debt.

Wolf, a second-term Democrat, was ranked in the one-star governors section at 43rd. With neighboring states, Wolf only beat out Phil Murphy of New Jersey and Andrew Cuomo of New York (45th and 46th, respectively), but placed behind John Carney of Delaware (38th), Larry Hogan of Maryland (35th), Jim Justice of West Virginia (33rd), and Mike DeWine of Ohio (32nd).

Cuomo is no longer governor, having resigned last summer; Kathy Hochul succeeded him.

While state governors dont control all state policy and can do more or less depending on whether their political party controls the legislature as well, the report tries to adjust accordingly. The Senate and House in Pennsylvania are led by Republicans.

In most cases, state metrics are indexed to national averages to account for trends in U.S. performance, policies are recorded as those proposed by the governors themselves, and changes in performance and policy are only measured over the governors individual terms, the report notes.

The top five governors in the report were Kristi Noem of South Dakota, Spencer Cox of Utah, Ron DeSantis of Florida, Jared Polis of Colorado, and Brad Little of Idaho. Four are Republicans, while Polis is the highest-ranking Democrat in the report.

Wolfs strongest ranking was for executive policy, where the report placed him at 40th. Economic performance came in at 42nd, and fiscal policy came in at 43rd. Since Wolfs inauguration in 2015, Pennsylvanias spending as a percentage of gross state product has steadily increased, from about 10% to about 12%; previously, it had been declining.

Wolf has been optimistic about the states economy in recent years. In his 2022 budget address, he noted the state government has changed its budget deficit into a surplus; at long last, our fiscal house is in order, he said. These are days of opportunity for our Commonwealth.

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Wolf ranks near bottom in governor scorecard report - The Delaware County Daily Times

The Idaho Spending Index examines appropriation bills on several fronts to add important context to lawmakers discussions as they are considered on the floor of the House and Senate. Among the issues we look at in drawing a conclusion about a budget:

Does the agency requesting these funds serve a proper role of government? Has wasteful or duplicative spending been identified within the agency, and if so, has that spending been eliminated or corrected? Does the budget examine existing spending to look for opportunities to contain spending, e.g., through a base reduction? If there is a maintenance budget, is that maintenance budget appropriate? Are the line items appropriate in type and size, and are they absolutely necessary for serving the public? Does the budget contemplate the addition of new employees or programs? Does the appropriation increase dependency on the federal government?

Our analysis is intended to provide lawmakers and their constituents with a frame of reference for conservative budgeting, by summarizing whether appropriation measures contain items that are sincerely objectionable or sincerely supportable.

Bill Description: Senate Bill 1420 appropriates $339,792,900 and 2103.85 full-time positions to the Department of Corrections for fiscal year 2023.

Rating: -1

Analysis:

Senate Bill 1420 would give the department of corrections a substantial increase in their budget and staff. This budget represents a $30.1 million, a 9.7% increase, from fiscal year 2022 and adds 42.0 (up 2.0% from FY 2022) new full-time positions to the department. This budget increase is largely due to the use of more than $10.5 million in funds from the ARPA State Fiscal Recovery Fund for wastewater management improvements and COVID operation costs. This raises the amount of money contributed by the federal government by 587.0% from the prior fiscal year.

The massive numbers detailed above only consider appropriations for fiscal year 2023. Senate Bill 1420 also includes more than $31.2 million in supplemental appropriations for the current fiscal year. This money will go to programs like a $12 million Hepatitis C Treatment Fund, a $1.8 million upgraded inmate banking system, and a $3.2 million new digital radio system. These funds come with reappropriation authority for the 2023 fiscal year, adding more funds to an already bloated budget. It is highly objectionable for this much funding to be appropriated to fulfill the Departments wish list. As much as 98.4% of the money for these supplemental appropriations would come from the General Fund. This means that revenues on sales, excise, and property taxes would support these line items, rather than remaining in the hands of Idaho residents.

Turning to the large staffing increase, most of the new employees will work as reentry specialists (20 FTP), Southern Idaho Correctional Institution staff (15 FTP), and vocational program staff (10 FTP). Since fiscal year 2018, the department has already added more than 74 new full-time positions. This increase for the 2023 fiscal year would simply continue this trend of large staff increases, increasing the overall size and permanency of ever expanding budgets.

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Senate Bill 1420 - Department of Corrections, FY23 appropriation - Idaho Freedom - Idaho Freedom Foundation

To the surprise of many analysts, there has been a substantial increase in the growth of tax revenues recently. The first surprise came with the Goods and Services Taxes and the second was with the pick-up indirect taxes. Many analysts have been befuddled by the tax buoyancy more so for the personal income direct taxes. So, what explains the recent pick-up in tax revenues?

Tax revenues are always a function of economic growth and improvements in tax compliance. For GST, both are at play as compliance has picked up and so has economic activity. Add to that the price pressures and since the GST is on the value of the product so if the value goes up, so does the taxes.

A combination of these three factors explains the surge in GST revenues. Don't get me wrong, the economy is doing rather well, in fact much better than what was anticipated. But even that does not fully explain the surge in tax revenues.

Many of the benefits of GST in terms of improving compliance seem to be here and perhaps some of it is also because of an effort to improve compliance. Going forward perhaps we need more carrots and fewer sticks to drive further improvements.

But what explains the direct tax collections? Corporate incomes have certainly improved to some extent and that is also reflected in the tax collections. Moreover, the reduction of the corporate tax rate has improved compliance.

The compliance effect of the 2019 corporate tax cut was to be felt in 2021 but unfortunately, because of COVID, that impact got delayed. Now that this effect is visible, we have to concede that tax collections can be improved even by decreasing tax rates. This realisation is important because at some point a reform of the overall direct taxes are due along with the modified direct tax code. And this change should be geared towards driving revenues through improved compliance rather than through higher rates.

Back to the Direct Tax Collections, which are at Rs 13.6 lakh crores as per the CBDT and about 9 per cent higher than the revised estimates of Rs 12.5 lakh crores. That the tax collections have been good is not a surprise largely because the economy has done well and because Government has been extremely conservative with respect to their fiscal calculations.

But it is not a criticism of the government that they were conservative but it is rather something to be admired. More so given that in India fiscal numbers are rarely conservative or even accurate. In such an environment, there has been a genuine attempt by the present Finance Minister to clean up our fiscal books and ensure greater transparency with respect to the numbers. This should also help bond markets be able to better price the bonds and help reduce the cost of borrowings over a period of time.

The immediate implication of the tax buoyancy is that government has room for further reduction in oil excise should it desire in the event of an increase in global oil prices. This can be done without an increase in the fiscal deficit or a reduction in the government's Capex plans and perhaps it may be a wise decision to take over the coming months.

The alternative is to allow for fiscal consolidation to be faster than that stated in the budget. This may not be a bad approach but given that nobody is expecting a faster consolidation and one does not expect any substantial reduction in bond yields that would make this a viable alternative.

Ultimately, the question is on the extent of support to growth. Growth and compliance have picked up which is a positive, but we must continue to support it in the event of a large oil price increase as we witnessed recently when oil prices were expected to touch 130$ per barrel.

The thing about additional tax revenues is that it puts the fiscal in a comfortable situation where there are plenty of options available to policymakers in the event of any external shocks. That freedom is critical to intervene in the form of policy support be it in the form of oil tax cuts or improving capital outlays.

It is this recognition regarding the strength of the Indian economy that explains why despite a US Fed hike, markets and the currency have been broadly stable. This is in contrast with the 2013 episode of the taper tantrum. Of course, this was just a modest rate hike, but it reassures me that a repeat of 2013 is unlikely over the coming months.

There were many who were losing hope in the Indian economy and now we can safely conclude that they were wrong as the Indian economy is on a particularly strong footing and it is expected to only get better going forward.

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India heading towards a tax revolution - News9 LIVE

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Yet another Freedom Convoy accusation turns out to be false

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First Reading is a daily newsletter keeping you posted on the travails of Canadian politicos, all curated by the National Posts own Tristin Hopper. To get an early version sent direct to your inbox every Monday to Thursday at 6 p.m. ET (and 9 a.m. on Saturdays), sign up here.

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There was a brief, shining moment when the Liberals were preaching a new era of fiscal discipline. The COVID-19 pandemic had resulted in the largest single peacetime increase to the debt in Canadian history, and it was now time to think about getting the books back into the black. Just before Christmas, Finance Minister Chrystia Freeland was calculating that the budget was on track to be balanced as early as 2026.

But the new NDP/Liberal agreement effectively blows all of that out of the water. NDP Leader Jagmeet Singh obtained a laundry list of demands in exchange for his partys support, and virtually all of them come with a multi-billion dollar price tag. A means-tested dental care program the agreements signature plank has been estimated by the Parliamentary Budget Officer to cost at least $4.3 billion in its first year.

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Its why, according to analysts, one of the most immediate results of the NDP/Liberal deal will be a federal government that is rather comfortable continuing to max out the fiscal credit card. Business leaders contacted by the Financial Post welcomed the prospect of three years without an election, but in the words of one, the agreement will potentially add billions of dollars to an already unhealthy structural deficit.

The NDP/Liberal agreement expires in 2025, when federal debt servicing costs were already projected to be as high as $40 billion per year. Not only is that likely to go higher, but Canada is rapidly losing what experts call fiscal room should another COVID-like shock hit the economy.

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Brian Topp was Jack Laytons right-hand man in 2008, when the NDP had flirted with plans to replace the minority government of Stephen Harper with a coalition. In an op-ed for the Globe and Mail, Topp acknowledged that the junior partners in these types of accords usually get killed in the next election. But he hinted that it might be worth the gamble to show Canadians that the federal NDP can actually do stuff, rather than just sit in opposition forever.

The Supply and Confidence (the official name of the NDP/Liberal deal) effectively strips power away from all the other opposition parties. With Prime Minister Justin Trudeau now effectively governing with a majority, he suddenly doesnt have to worry about whether the Conservatives or the Bloc Quebecois vote for his bills. So, naturally, theyre both pretty angry about this. But at least the Green Party is happy; they said the deal exemplifies the spirit of cooperation.

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And theres a really cynical theory making the rounds as to why Jagmeet Singh seemed so eager to hitch his party to the Trudeau cart: Parliamentary pensions only kick in after six years of service, so holding up the government until 2025 guarantees that a few NDPers (including Singh) are now set for life even if they lose their seats at the next election. Although, as a high-priced criminal defence lawyer who owns two Rolexes, heres a guess that Singh isnt making major political calculations based on whether it will allow him to retire in his 40s.

The Conservative leadership race is rapidly shaping into an inter-generational battle between Millennial and Baby Boomer, according to Sean Speer, a former advisor to Prime Minister Stephen Harper. On the Millennial side, youve got a cohort of Conservatives marinated in Milton Friedman YouTube videos and increasingly pissed off by the rising cost of living. On the Boomer side, youve got a group much more inclined to just focus on the traditional battles such as the size of government and stopping Quebec from separating (theyre also less likely to swear on social media).

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Patrick Browns opening salvo in his Conservative leadership bid was to declare that frontrunner Pierre Poilievre once championed a ban on niqabs at citizenship ceremonies, and was thus toxic to immigrant voters. So its somewhat awkward that someone found a 2012 newsletter printed by Brown, then a Conservative MP, seeming to tout the anti-niqab measure. Brown said the newsletter was purely informational.

Speaking of Brown, he now has prominent Calgary MP Michelle Rempel Garner on his team. Aged 42, Garner is just barely a Millennial, and has appeared on more than a few lists of likely Conservative leadership candidates.

In the midst of Freedom Convoys occupation of Ottawa, one of the most damning accusations levelled at the truckers was that they had tried to burn down a residential building. At the time, Ottawa mayor Jim Watson said the arson attempt highlighted the malicious intent of these protesters occupying our city. One of the buildings residents told Postmedia at the time that the fire was an act of terror. So its notable that Ottawa Police have just charged the man allegedly responsible for the attempted arson, and he had nothing to do with the convoy whatsoever.

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This isnt the only accusation levelled at Freedom Convoy that would subsequently turn out to be mere blarney. In recent weeks, CBC has retracted two claims about the protest that originally appeared in its reporting. The first was that it was a likely product of Russian disinformation. The second was that Freedom Convoys donations were primarily the product of foreign money. As GoFundMes CEO recently told a parliamentary public safety committee, more than 90 per cent of the more than $10 million raised for Freedom Convoy came from Canada.

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FIRST READING: COVID's winding down, but Trudeau isn't nearly done blowing out the debt - National Post

WASHINGTON, DC Today, a bipartisan group of 62 Members of Congress wrote to President Biden urging him to build on the humanitarian efforts already underway to help Ukrainians by allowing for the expedited resettlement of Ukrainian refugees in the United States. Among other recommendations, the Members urge the Administration to raise the cap on refugees allowed into the United States for Fiscal Year 2022 if it is necessary to accommodate Ukrainian refugees, ensure that Ukrainians are eligible for priority status, and reduce wait times on student visas. The letter is led by Representatives David N. Cicilline (RI-01), Bill Pascrell, Jr. (NJ-09), Adam B. Schiff (CA-28), Ted W. Lieu (CA-33), Julia Brownley (CA-26), Juan Vargas (CA-51), and Bradley S. Schneider (IL-10).In their letter, the Members write to President Biden, We applaud your decision to grant Temporary Protected Status to Ukrainians currently in the United States, but there remain millions of refugees who are stranded after fleeing Ukraine who we must not ignore or abandon. We ask your administration to take several necessary steps to ensure the safety of the Ukrainian people and a robust resettlement program for Ukrainian refugees within the United States.They continue, Refugees who have fled Ukraine are currently housed in temporary shelters throughout European countries including Poland, Hungary, Slovakia, Moldova, and Romania, many with no idea where they will go or what their lives will look like in the coming months and years. For example, reporting has indicated that cities in Poland are struggling to house and feed these refugees, in which two Ukrainians enter Poland every three seconds, and the millions of Ukrainian refugees who have already arrived in Poland would create the countrys second-largest city.[1] Indeed, these countries face immense burdens as a result, with Europe facing its worse refugee crisis since World War II. The burden of sheltering and settling refugees cannot fall solely on European countries. America must also do its part.Members co-signing the letter include Representatives Earl Blumenauer (OR-03), Brendan Boyle (PA-02), Cheri Bustos (Il-17), Matt Cartwright (PA-08), Sean Casten (IL-06), Steve Cohen (TN-09), Gerry Connolly (VA-11), Jim Copper (TN-05), Diana DeGette (CO-01), Antonio Delgado (NY-19), Anna Eshoo (CA-18), Brian Fitzpatrick (PA-01), Ruben Gallego (AZ-07), Jahana Hayes (CT-05), Brian Higgins (NY-26), Jim Himes (CT-04), Hank Johnson (GA-04), William R. (Bill) Keating (MA-09), Derek Kilmer (WA-06), Annie Kuster (NH-02), Rick Larsen (WA-02), Andy Levin (MI-09), Mike Levin (CA-49), Alan Lowenthal (CA-47), Carolyn B. Maloney (NY-12), Doris Matsui (CA-06), Jerry McNerney (CA-09), Gregory Meeks (NY-05), Gwen Moore (WI-04), Joseph Morelle (NY-25), Marie Newman (IL-03), Eleanor Norton (DC), Frank Pallone, Jr. (NJ-06), Jimmy Panetta (CA-20), Chellie Pingree (ME-01), Ayanna Pressley (MA-07), David Price (NC-04), Mike Quigley (IL-05), Jamie Raskin (MD-08), Deborah Ross (NC-02), Mary Scanlon (PA-05), Jan Schakowsky (IL-09), Robert C. Bobby Scott (VA-03), Albio Sires (NJ-08), Elissa Slotkin (MI-08), Jackie Speier (CA-14), Haley Stevens (MI-11), Eric Swalwell (CA-15), Dina Titus (NV-01), Ritchie Torres (NY-15), David Trone (MD-06), Peter Welch (VT-AL), Susan Wild (PA-07), Nikema Williams (GA-05), and John Yarmuth (KY-03).Full text of the letter is below, and a PDF can be found here.Dear President Biden:We applaud your decision to grant Temporary Protected Status to Ukrainians currently in the United States, but there remain millions of refugees who are stranded after fleeing Ukraine who we must not ignore or abandon. We ask your administration to take several necessary steps to ensure the safety of the Ukrainian people and a robust resettlement program for Ukrainian refugees within the United States. We have a series of recommendations for your administration to accomplish this goal, which can be found below.As you have noted, the long tradition of the United States as a leader in refugee resettlement provides a beacon of hope for persecuted people around the world.[2] Beyond this moral duty, the United States has a legal duty under our international agreements to accept refugees.[3] We were pleased when you lifted the historically low refugee capfrom 15,000 to 62,500before the end of FY21, and then up to 125,000, for FY22. These actions have helped restore Americas promise to meaningfully honor our obligations.[4] While this number was set during a global refugee crisis, it was before the war in Ukraine began, which demands that we revisit refugee admissions.More than 3 million refugees have already fled their homes in Ukraine, and more than 4 million Ukrainians are expected to flee as the illegal Russian invasion continues.[5] Humanitarian organizations have catalogued a Russian airstrike on a civilian breadline in Chernihiv,[6] a ballistic missile strike on a civilian hospital outside Vuhledar,[7] and repeated bombardment of civilians fleeing the Russian advance on Kyiv.[8]Russias attacks on Ukrainian civilians, as well as members of the international press, have only worsened as their illegal invasion of Ukraine has continued to falter. Russia reportedly bombed a theater in Mariupol, where innocent civilians were sheltering, and was marked with the word children in huge letters which were clearly visible from the air.[9] Recently, it has also been reported that Russian forces in Ukraine are hunting down international journalists, in an effort to kidnap and coerce them into recanting their reporting.[10] There have even been reports that a Russian airstrike indiscriminately bombed a maternity hospital in the besieged port city of Mariupol, which wounded at least 17 people.[11] Hundreds of thousands of Ukrainians are internally displaced, with families sheltering in bomb shelters, basements, and subway stations to avoid Russian attacks.Refugees who have fled Ukraine are currently housed in temporary shelters throughout European countries including Poland, Hungary, Slovakia, Moldova, and Romania, many with no idea where they will go or what their lives will look like in the coming months and years. For example, reporting has indicated that cities in Poland are struggling to house and feed these refugees, in which two Ukrainians enter Poland every three seconds, and the millions of Ukrainian refugees who have already arrived in Poland would create the countrys second-largest city.[12] Indeed, these countries face immense burdens as a result, with Europe facing its worse refugee crisis since World War II. The burden of sheltering and settling refugees cannot fall solely on European countries. America must also do its part.America has set the refugee ceiling as high as 231,000 since the enactment of the Refugee Act of 1980. On April 16, 2021, you announced that given new emergency refugee situation[s] stemming from increasing political violence, repression, atrocities, or humanitarian crises,, you were revising the allocation of refugee admissions to ensure the United States was responding adequately to those developing emergency situations.[13] You also announced that, if the 15,000 refugee cap was reached before the end of FY21, you would consider a declaration increasing the refugee cap as appropriate.[14] You increased that refugee cap on May 3, 2021, from 15,000 to 62,500.[15] However, our nation only resettled 11,411 individuals in FY21, the lowest since we started tracking in 1975.[16] Further, we are disappointed that only 6,494 individuals have been resettled in FY22 as of February 28, 2022.Given the foregoing facts, we respectfully request that you consider the following recommendations to address the growing international refugee crisis:

The Statute of Liberty displays Emma Lazaruss famous poem, partly reading: Give me your tired, your poor, your huddled masses yearning to breathe free, the wretched refuse of your teeming shore. Send these, the homeless, tempest-tossed to me, I lift my lamp beside the golden door! This sentiment still reflects the values of our nation, a symbol of freedom and opportunity to the world. Today, we have the opportunityand the obligationto put these words into power by welcoming these refugees with open arms.

###

[1] Drew Hinshaw and Ian Lovett, Two Ukrainian Refugees Enter Poland Every Three Seconds Right Now, Wall Street Journal, (Updated Mar. 10, 2022). https://www.wsj.com/articles/waves-of-ukrainian-refugees-overwhelm-poland-11646856187

[2] White House Announcement, Memorandum for the Secretary of State on the Emergency Presidential Determination on Refugee Admissions for Fiscal Year 2021, Apr. 16, 2021 (last visited Mar. 10, 2022). https://www.whitehouse.gov/briefing-room/presidential-actions/2021/04/16/memorandum-for-the-secretary-of-state-on-the-emergency-presidential-determination-on-refugee-admissions-for-fiscal-year-2021/

[3] Id.

[4] Migration Policy Institute, U.S. Annual Refugee Resettlement Ceilings and Number of Refugees Admitted, 1980 to Present, (last accessed Mar. 10, 2022). https://www.migrationpolicy.org/programs/data-hub/charts/us-annual-refugee-resettlement-ceilings-and-number-refugees-admitted-united

[5] The number of Ukrainians who've fled to Poland is equal to the population of Warsaw, NPR, (Mar. 16, 2022).https://www.npr.org/2022/03/16/1086687862/ukraine-refugees-warsaw#:~:text=WARSAW%2C%20Poland%20%E2%80%94%20About%203%20million,the%20world's%20worst%20refugee%20crises.

[6] Amnesty International, Ukraine: Russian dumb bomb air strike killed civilians in Chernihiv new investigation and testimony, (Mar. 9, 2022). https://www.amnesty.org/en/latest/news/2022/03/ukraine-russian-dumb-bomb-air-strike-kills-civilians-in-chernihiv-new-investigation-and-testimony/ (killing 47 people on Mar. 3, 2022)

[7] Human Rights Watch, Ukraine: Russian Assault Kills Fleeing Civilians Continuous Shelling of Evacuation Route Suggests Laws of War Violations, (Mar. 8, 2022). https://www.hrw.org/news/2022/03/08/ukraine-russian-assault-kills-fleeing-civilians (killing eight people including two children).

[8] Id.

[9] Andrew E. Kramer, Michael Schwirtz and Eric Nagourney, Survivors emerge from a bombed theater, but Ukraines civilian suffering grows. NY Times (Updated Mar. 22, 2022), https://www.nytimes.com/live/2022/03/17/world/ukraine-russia-war.

[10] Mstyslav Chernov, 20 days in Mariupol: The team that documented citys agony, AP News (Mar. 22, 2022), https://apnews.com/article/russia-ukraine-europe-edf7240a9d990e7e3e32f82ca351dede.

[11] Evgeniy Maloletka, Airstrike hits Ukraine maternity hospital, 17 reported hurt, AP News, (Mar. 10, 2022). https://apnews.com/article/russia-ukraine-kyiv-europe-2bed71c00916d44ea951c5809b446db3/

[12] Drew Hinshaw and Ian Lovett, Two Ukrainian Refugees Enter Poland Every Three Seconds Right Now, Wall Street Journal, (Updated Mar. 10, 2022). https://www.wsj.com/articles/waves-of-ukrainian-refugees-overwhelm-poland-11646856187

[13] White House Announcement, Memorandum for the Secretary of State on the Emergency Presidential Determination on Refugee Admissions for Fiscal Year 2021, Apr. 16, 2021 (last visited Mar. 10, 2022). https://www.whitehouse.gov/briefing-room/presidential-actions/2021/04/16/memorandum-for-the-secretary-of-state-on-the-emergency-presidential-determination-on-refugee-admissions-for-fiscal-year-2021/

[14] White House Announcement, Statement by President Joe Biden on Refugee Admissions, May 3, 2021 (last visited Mar. 10, 2022). https://www.whitehouse.gov/briefing-room/presidential-actions/2021/04/16/memorandum-for-the-secretary-of-state-on-the-emergency-presidential-determination-on-refugee-admissions-for-fiscal-year-2021/

[15] White House Announcement, Memorandum for the Secretary of State on the Emergency Presidential Determination on Refugee Admissions for Fiscal Year 2021, Apr. 16, 2021 (last visited Mar. 10, 2022). https://www.whitehouse.gov/briefing-room/statements-releases/2021/05/03/statement-by-president-joe-biden-on-refugee-admissions/

[16] Refugee Processing Center, Admissions and Arrivals, (last accessed Mar. 23, 2022). https://www.wrapsnet.org/admissions-and-arrivals/

[17] Hebrew Immigrant Aid Society, U.S. Refugee Priorities, (last accessed Mar. 9, 2022). https://www.hias.org/us-refugee-priorities.

[18] Office of the Spokesperson, U.S. Department of State, U.S. Refugee Admission Program Priority 2 Designation for Afghan Nationals, Aug. 2, 2021 https://www.state.gov/u-s-refugee-admissions-program-priority-2-designation-for-afghan-nationals/.

[19] Department of State, Report to Congress on Proposed Refugee Admissions for Fiscal Year 2022, Sept. 20, 2021. https://www.state.gov/report-to-congress-on-proposed-refugee-admissions-for-fiscal-year-2022/.

[20] The Lautenberg amendment, reauthorized on March 15, 2022 when you signed into law H.R. 2471, the Consolidated Appropriations Act of 2022, provides a pathway for members of historically persecuted religious groups from countries of the former Soviet Union to be reunited with family members in the United States.

Link:

62 Members Urge Biden Administration to Prioritize, Welcome More Ukrainian Refugees to the United States - Clerk of the House

Good Tuesday evening and Happy International WomensDay! Lets jump right in, much as we might want to take a briefdetour to discuss the NFL's big Russell Wilson trade:

Government funding expires at the end of the day on Friday. Withthe deadline rapidly approaching, congressional negotiators andstaff reportedly spent Monday night and Tuesday trying to finalizea sweeping $1.5 trillion spending package covering the rest of thisfiscal year along with an emergency aid package for Ukraine andadditional pandemic funding.

The Ukraine aid package has grown to a reported $13.6 billion,up from an initial White House request for $6.4 billion and a laterrequest for $10 billion. "The money is expected to boost keyprograms at the Pentagon, State Department and other agencies, sothat they can better deliver military assistance, help defendagainst cyberattacks, respond to food insecurity in the region andshore up other NATO allies in the face of any further Russianaggression," The Washington Posts Tony Romm reports.

The Covid-19 funding, meanwhile, has been scaled back to $15billion, about half what the Biden administration initially saidwould be needed and a third less than the $22.5 billion theadministration later requested. The funding has shrunk asRepublicans questioned the need for additional pandemic spendingand demanded better accounting for the trillions of dollars alreadyapproved for public health and other coronavirus relief efforts.The additional funding reportedly may be repurposed from pandemicrelief funds approved for cities and states as Republicans haveinsisted that any new spending be fully offset.

Congressional leaders reportedly still hope to unveil thelegislative text of the spending package on Tuesday, givinglawmakers hours to review the massive package ahead of a plannedWednesday vote in the House. "Were almost done. Were going tovote tomorrow," House Appropriation Chair Rosa DeLauro toldreporters said. "Its not going to get delayed. Were going to votetomorrow."

Lawmakers also look to punish Russia: The race to passthe massive spending package comes as the House is also set to voteon a related bipartisan bill to further crack down on Russia afterits invasion of Ukraine. That legislation would ban the import ofRussian energy, enable the Biden administration to imposeadditional sanctions and tariffs on Russia and seek to expel Moscowfrom the World Trade Organization.

In a letter to colleagues, House Speaker Nancy Pelosi (D-CA)said the legislation would further isolate and weaken Russia whilealso representing a show of support for President Bidens effortsto hold Russian President Vladimir Putin accountable for "hispremeditated, unprovoked war against Ukraine."

Republican lawmakers also expressed support for the bill, whichwould also have to pass the Senate. "I think theres more at stakethan just the cost of gasoline," said Sen. John Cornyn (R-TX),according to The Washington Post. "I think its an importantmessage to send, so despite the presidents actions, I would liketo see Congress pass a law."

Whats next: Time to pass the omnibus is running shortgiven that House Democrats are schedules to leave town Wednesdayafternoon for their annual policy retreat in Philadelphia."Hopefully the House sends it to us tomorrow," Senate MajorityLeader Chuck Schumer (D-NY) said Tuesday. "We can then move it andcertainly pass it before the midnight Friday deadline."

House lawmakers sounded confident Tuesday that theyd be able toget it done, though House Majority Leader Steny Hoyer (D-MD)reportedly warned his members Tuesday that they may need to comeback on Friday if the Senate were to make changes to the package orrun into delays that required a stopgap bill to prevent agovernment shutdown. Senate Republicans have threatened to blockspeedy consideration of the omnibus, demanding votes on a proposalto defund the Biden vaccine mandates and a more detailed fiscalanalysis of the spending package.

The bottom line: Lawmakers broadly expect to meet theirdeadline. Democratic leaders signaled that more funding wouldlikely still be needed for both Ukraine and the pandemic

"This is a step that were taking to inflict further pain onPutin. But there will be costs as well here in the United States. Isaid I would level with the American people from the beginning. Andwhen I first spoke to this, I said defending freedom is going tocost -- its going to cost us as well, in the United States.Republicans and Democrats alike understand that. Republicans andDemocrats alike have been clear that we must do this."

President Biden, announcing an executive order toban the importing of Russian oil, liquefied natural gas andcoal.

Biden had been hesitant to block energy imports from Russia,mindful of the economic reverberations the move could have and,perhaps, the political pain that could accompany record gas prices but made the decision to do so after facing bipartisan pressurefrom lawmakers and consulting with U.S. allies. Biden said thatsome European allies, which are more dependent on Russian energy,may not follow suit. The European Union said it planned to cutimports of Russian natural gas by two-thirds.

Biden blamed Russian President Vladimir Putin for rising U.S.gas prices. "Im going to do everything I can to minimize Putinsprice hike here at home," he said.

A new Wall Street Journal poll found that 79% ofAmericans said they favor a ban on Russian oil imports even if itmeans higher energy prices.

The federal budget deficit totaled $475 billion in the firstfive months of the 2022 fiscal year, the Congressional BudgetOffice said Tuesday in its monthlybudget review.

Total receipts between the beginning of the fiscal year inOctober 2021 and February 2022 came to $1.8 trillion, CBOestimated, while total outlays came to nearly $2.3 trillion.

Receipts are up by $371 billion this year compared to the sameperiod last year, driven in large part by higher individual incomeand payroll taxes, which rose by $313 billion. Corporate taxreceipts were also higher, by $28 billion, as were customs dutiesand excise taxes. Total outlays are down by $201 billion on ayear-over-year basis, driven in part by a $139 billion decrease inunemployment compensation.

Spending on servicing the debt increased by $31 billion, or 22%,as the Treasury paid more in interest on inflation-protectedsecurities.

Overall, the deficit so far this year is considerably smallerthan the one recorded in the pandemic-scarred years of 2020 and2021. Last year, the deficit was a bit over $1 trillion in thefirst five months of the fiscal year, or about twice as large,while in 2020 the deficit came to $624 billion by this point.

House Speaker Nancy Pelosi (D-CA) on Tuesday highlighted a newanalysis that shows that a proposal by Republican Sen. Rick Scottof Florida to have all Americans pay at least some federal incometax would end up raising taxes on more than half of allhouseholds.

"In every state across the country the hardest working familieswould shoulder huge tax increases but more than 40 percent oftaxpayers living and working in Mississippi, West Virginia,Arkansas, Louisiana, Alabama, Kentucky, Oklahoma, Georgia, NewMexico, South Carolina and Florida would see their tax billsskyrocket," Pelosi said in a statement.

The analysis of Scotts proposal was done by the liberal-leaningInstitute on Taxation and Economic Policy, which looked at theeffects of the plan on taxpayers in each state. Crucially, the analysis assumes that, under Scotts plan,low-income taxpayers would lose the refundable tax credits providedby programs such as the Earned Income Tax Credit or the Child TaxCredit, up to the point where they have some tax liability. Thisisnt spelled out in Scotts plan, which provides virtually nodetails, but ITEPs Steve Wamhoff says it follows from theproposal. "The only possible interpretation of Sen. Scottsproposal is that everyone who has negative federal income taxliability under current law would instead have federal income taxliability of at least $1," he writes.

Under that assumption, ITEP found that individual tax billswould rise by more than $1,000 on average for the poorest 40% ofAmericans, once the value of lost tax credits is taken intoaccount.

Scott has said that his proposal would not apply to seniors orthose who are not "able bodied," but those clarifications left itunclear how the plan would have all Americans have some "skin inthe game," as the senators plan put it.

Pelosi said the think tanks analysis shows the sharp contrastbetween the parties on fiscal policy: "While Republicans plan tosqueeze Americas hardest-working families with higher tax hikesand try to rip away their health care, Democrats are still hard atwork to pass legislation to further lower everyday prices, fightinflation and cut taxes for middle-class families, paid for byfinally making giant corporations and the wealthiest pay their fairshare."

For their part, Republicans have distanced themselves fromScotts proposal. Although the Florida Republican defended his planin a Wall Street Journal op-ed last week, Senate Minority Leader MitchMcConnell (R-KY) bashed the proposal, saying that while he does notplan to release a GOP agenda, under no conditions would Republicanssupport a tax hike.

Sen. Ron Johnson (R-FL) said Monday that while he agrees with"most of" Scotts proposed agenda, he recognized that some thingswould have to change presumably including the idea of raisingtaxes on millions of low-income households. At the same time,Johnson said Republicans need to make it clear what they plan to doif they win power in the coming elections. Johnsons idea is a bitof a throwback to the glory years of the Trump presidency: "Forexample, if were going to repeal and replace Obamacare I stillthink we need to fix our health-care system we need to have theplan ahead of time so that once we get in office, we can implementit immediately, not knock around like we did last time and fail,"Johnson said.

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Ukraine Aid Package Boosted to $14 Billion | The Fiscal Times - The Fiscal Times