BPC Blog

CBO and OMB have widely different perspectives on the appropriate budgetary treatment of the GSEs

BPC’s forum on the “Implications of GSE Reform for the Federal Budget and National Debt” provided a primer on how the federal government currently accounts for the conservatorship of Fannie Mae and Freddie Mac and the budgetary impact of proposals to wind down the two institutions.

The tax treatment of energy capital assets is likely to be less generous in any future tax reform bill

Even if comprehensive tax reform is unlikely to be enacted during the 113th Congress, the tax reform policy discussion has begun in earnest. Earlier this month, House Ways and Means Committee Chairman Rep. Dave Camp (R-Mich.) released his proposal for comprehensive tax reform. Chairman Camp’s plan follows a set of proposals issued in December 2013 by former Senate Finance Committee Chairman Sen. Max Baucus (D-Mont.). Both proposals reform the tax code in a manner that would significantly impact the American energy system—with some surprising early agreements— though neither plan is likely to advance past discussion drafts.

CBO estimates that the bill would reduce deficits by about $110 billion over the first decade

Last week, the Congressional Budget Office released its cost estimate for H.R. 2131, the Supplying Knowledge-based Immigrants and Lifting Levels of STEM Visa Act (SKILLS Visa Act), in conjunction with the Joint Committee on Taxation. The SKILLS Visa Act was voted out of the House Judiciary Committee on June 27, 2013, by a 20-14 margin.

Statement of Aaron Klein on “Finding the Right Capital Regulations for Insurers” Before the Subcommittee on Financial Institutions and Consumer Protection of the Committee on Banking, Housing, and Urban Affairs, U.S. Senate
By Aaron Klein, Director, Financial Regulatory Reform Initiative

“It is clear that banks and insurance companies are fundamentally different businesses, which require substantially different capital regimes. In my opinion, Dodd-Frank gave the Federal Reserve Board the necessary authority to the tailor its capital rules for insurance companies."

In the wake of the current situation in Ukraine, including the pseudo-ceasefire, the retreat of Yanukovych and attempts of Russia to secede Crimea from Ukraine, we’ve captured highlights from BPC’s recent event on Ukraine’s democracy, geopolitics, economics and energy.

Increasingly, investor demands on expiring tax credit partnerships threaten the long-term quality and affordability of housing credit properties

Developers of affordable housing properties rely on the Low Income Housing Tax Credit to provide the equity needed to build quality housing that would otherwise be unaffordable to low-income households. 

Congress could show the American people that despite partisan differences in an election year, Washington has not ground to a complete halt

Much has been said about the feasibility of passing major pieces of legislation through a partisan Congress, especially with 2014 being an election year. With both parties trying to maintain their majority on one end of the Capitol and gain one on the other, 2014 may seem like a lost year for bipartisan compromise. However, history shows that immigration reform frequently occurs during election years. Reform is still possible if the legislative process is allowed to run its course.

The confirmation makes CBP the only one of DHS’s three immigration-related agencies to have a permanent head

In the midst of the continued debate over immigration reform and the close scrutiny of border security that it brings, U.S. Customs and Border Protection, the agency in charge of securing our borders, finally has a new Senate-confirmed leader after more than two years.

President Obama’s Fiscal Year 2015 budget requests $9.7 billion for the Department of Energy’s (DOE) investments in energy innovation. This represents a 10 percent increase over the FY2014 enacted budget for DOE’s energy innovation programs.

It’s crazy that Congress has not acted on these critical issues, which have all received bipartisan support. We at BPC think they are ripe for congressional action.

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