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Temporary Expensing Allowance Introduced
September 14, 2005 - A temporary 30% expensing allowance for new equipment was introduced.

Joint Economic Committee Release (9-13-05): Economic Effects of Hurricane Katrina Continue
September 13, 2005 - The Joint Economic Committee released an updated Recent Economic Developments today. Highlights of the report:

- Significant fractions of daily Gulf of Mexico production of oil and natural gas have been “shut in.” Production is gradually coming back on line.

- Energy infrastructure damage pushed prices of crude oil close to $70 per barrel, retail regular gasoline over $3 per gallon, and natural gas to around $12 per million BTUs. Prices have receded recently, but remain elevated.

- Forecasters lowered their GDP-growth predictions for the second half of 2005 in light of Katrina, but still see a continuation of healthy growth. Growth was 3.3% in the 2^nd quarter.

Joint Economic Committee: Economic Effects of Hurricane Katrina
September 2, 2005 - The Joint Economic Committee provides some background information on the economic effects of Katrina as it relates to oil and gasoline production and some possible macroeconomic implications.

The Bureau of Labor Statistics August Employment Situation Report
September 2, 2005 - August Employment Situation: The Bureau of Labor Statistics (BLS) released data on the August employment situation today. Highlights of the report:

· 169,000 new payroll jobs were created in August. July’s job gains were revised up to 242,000 from an earlier estimate of 207,000.

· Twenty-seven consecutive months of job gains have added over 4.1 million new jobs to payrolls.

Council of Economic Advisers Releases White Paper on Economy
August 9, 2005

White House Releases Second Term Accomplishments & Agenda
In an August 3, 2005 press release, President Bush celebrated key legislative victories that he has won in his second term. He also called on Congress to complete other important work.

The Bureau of Economic Analysis Reports GDP Growth in the 2nd Qtr.
The Bureau of Economic Analysis released a first look at inflation-adjusted (“real”) gross domestic product (GDP) for the 2^nd quarter of 2005.

Joint Economic Committee's Updated "Recent Economic Developments" - 07.14.05
Senator Robert F. Bennett (R-UT), Chairman, the Joint Economic Committee, has released an updated version of the Committee Report "Recent Economic Developments."

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