Iraq War Costs Approach $567 Billion

July 19, 2007
Iraq War Costs Approach $567 Billion

July 19 (Bloomberg) -- The cost of the war in Iraq will exceed the half-trillion dollar mark once Congress completes its work on a defense measure for the fiscal year beginning Oct. 1, the Congressional Research Service said in a report.

"If Congress approves these requests, total funding would reach about $567 billion for Iraq, $157 billion for Afghanistan" with the remainder for enhanced U.S. homeland security, CRS analyst Amy Belasco said in a July 16 report released yesterday.

Spending for the effort against terrorism since the Sept. 11, 2001, attacks is on a course to reach $758 billion after the House and Senate complete work on their respective bills and negotiators agree on a final version later this year, the report said.

Bush Health Plan Would Raise Taxes by $526 Billion

February 28, 2007
Bush Health Plan Would Raise Taxes by $526 Billion

Feb. 28 (Bloomberg) -- President George W. Bush's plan to revamp the health-care system would increase taxes on Americans by $526.2 billion over the next decade, according to a congressional estimate that calls into question administration claims of cost and tax savings.

A "very preliminary" unreleased report by the staff of the non-partisan congressional JointCommittee on Taxation estimates that Bush's proposal would begin imposing higher taxes by 2011.

Bush's plan, outlined in January, would replace incentives for employers to provide insurance fortheir workers with a tax deduction for individuals.