Tag Archives: Chuck Schumer

First Quarter Tax Reform Update

Legislative Activity The House With the 115th Congress entering month three, tax reform continues to be a focal point of the political debate in Washington. Intent to move forward with their tax reform “Blueprint” released in June 2016, Speaker Paul Ryan (R-WI), House Ways and Means Committee Chairman Kevin Brady (R-TX), and other tax-writers have … Continue Reading

Tax Reform Efforts Continue; Section 385, BEPS Implementation Dominate Regulatory Agenda

Legislative Activity The Long March to Tax Reform Continues On June 24, House Ways and Means Committee Chairman Kevin Brady (R-TX) released the House GOP’s Task Force on Tax Reform’s long-awaited tax reform “Blueprint,” which lays out the GOP’s tax policy agenda for 2017. Specifically, and as we discuss in greater detail in our alert, … Continue Reading

Flurry of Financial Services Activity as Legislative Days Fly By; SEC, CFTC Move Ahead with Regulatory Priorities

Legislative Activity House to Vote on Financial Services Appropriations Bill as Hensarling Pushes Plan to Replace Dodd-Frank This week, the House is expected to consider the FY 2017 Financial Services and General Government Appropriations Act, which passed out of Committee largely along partisan lines and contains various provisions that would peel back certain aspects of … Continue Reading

Tax-Writers Continue Debate on International Tax Reform, Inversions; Global Efforts on CbyCR Implementation Move Forward

Legislative Activity International Tax Reform v. Inversions Following up on Senate Finance Committee Chairman Orrin Hatch’s (R-UT) recent acknowledgment that his “corporate integration” proposal has been delayed, at least by “a few weeks,” it now appears that the House Ways and Means Committee may miss its self-imposed goal of March 31 by which to release … Continue Reading

International Tax Reform Remains a Priority for Tax-Writers, BEPS Begins to Take Center Stage; Treasury Still Focused on Inversions

Legislative Activity With Tax Extenders (Mostly) Behind Them, Tax-Writers Likely to Focus on International Tax Reform With Congress (somewhat unexpectedly) having enacted permanent tax extender legislation prior to adjourning the first session of the 114th Congress, tax-writers are now expected to move forward with their efforts on international tax reform – though the substance and … Continue Reading

House Ways and Means Tasked With Funding Highway Bill; Treasury Moves Forward With BEPS Implementation

Legislative Activity House Lawmakers Schedule Markup of Transportation Bill Without Revenue Provisions Last week, on Friday, October 16, the House Transportation and Infrastructure Committee released a six-year, $325 billion highway funding bill (the Surface Transportation Reauthorization and Reform Act of 2015); a markup of the legislation is scheduled for Thursday, October 22. Notably, while the … Continue Reading

House Transportation and Infrastructure Committee Releases Highway Bill, Markup Scheduled This Week

Legislative Activity House Transportation and Infrastructure Committee Releases Highway Bill, Markup Scheduled This Week On Friday, the House Transportation and Infrastructure Committee (T&I) released its long-awaited surface transportation reauthorization bill and scheduled the markup of the bill for this Thursday, October 22. The House provides six years of authorizations from the Highway Trust Fund (HTF) … Continue Reading

International Tax Reform-Highway Funding Negotiations Stall; OECD to Release BEPS Proposals

Legislative Activity International Tax Reform-Highway Funding Negotiations Stall Following months of coordination between House Ways and Means Committee Chairman Paul Ryan (R-WI) and senior Senate Finance Committee member Chuck Schumer (D-NY) regarding tying international tax reform to highway funding, aides for the two lawmakers last week announced that negotiations had stalled as a result of … Continue Reading

Tax-Writers Likely to Debate Highway Funding, Vote on Inversions-Related Amendment

Legislative Activity Senate Finance Committee Tax Reform Working Groups Release Reports Last week, on Tuesday, July 8, the Senate Finance Committee released the long-awaited reports from its five bipartisan Tax Reform Working Groups, which were formed to “spur congressional comprehensive tax reform efforts in the 114th Congress.” The groups focused on: (1) Individual Income Tax; … Continue Reading

Tax Reform Working Groups Ready Recommendations; Highway Funding in Focus

Legislative Activity Senate Finance Committee Working Groups to Submit Tax Reform Proposals After having been provided additional time to finalize their proposals for consideration by the full Committee, the Senate Finance Committee Tax Reform Working Groups are due to submit their proposals by this Friday, June 26. The Working Group that appears to have made … Continue Reading

BEPS and International Tax Reform, Highway Funding in Focus for Tax-Writers

Legislative Activity Congress Concerned with BEPS, International Tax Reform Moves Forward Last week, G-7 leaders (i.e., finance ministers and central bank governors from Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) met in Germany to renew their commitment to coming together on a “feasible” proposal to address base erosion and profit … Continue Reading

Senate Joins House in Appropriations Effort; Appropriations Process to Heat Up

Legislative Activity Senate Joins House in Appropriations Effort Senate Appropriators begin work on their FY 2016 spending bills this week, with subcommittee markups scheduled Tuesday for the Military Construction-Veterans Affairs and Energy-Water appropriations bills. Committee Chairman Thad Cochran (R-MS) has not publicly revealed how he apportions the mandated topline discretionary funding level of $1.07 trillion … Continue Reading

Democrats Continue to Push for a Budget Deal; Senate Looks Toward Appropriations Markups; House to Mark Up Transportation-HUD Appropriations Bill

Legislative Activity Democrats Continue to Push for a Budget Deal The President and Democrats in the House and Senate continue to pressure Republicans for a budget deal to replace the sequester’s strict spending limits. Most House Democrats voted against the two sequester-level appropriations bills that were recently considered on the House floor, President Obama has … Continue Reading

Lawmakers Press Onward with Tax Reform Efforts; IRS Issues Regulations, Guidance

Legislative Activity Lawmakers Press Onward with Tax Reform Efforts; Tax Extenders, Highway Funding Coming Into Focus With tax-writers having moved trade legislation out of their respective committees, the Senate Finance Committee’s Tax Reform Working Groups have begun to hold roundtables to brief their colleagues on the status of their work and to receive initial feedback. … Continue Reading

Net Neutrality Legislation Introduced; Senator Schumer Introduces Quiet Act

Legislative Activity Net Neutrality Legislation Introduced Last Monday, February 3, Senator Ed Markey (D-MA) and Rep. Henry Waxman (D-CA) introduced the Open Internet Preservation Act of 2014 (S. 1981 and H.R. 3982). The legislation would restore the Federal Communications Commission’s (FCC) “net neutrality” rules, which the U.S. Court of Appeals for the District of Columbia … Continue Reading

Satellite Communications; Patent Reform

Legislative Activity Satellite Communications As a follow up to its hearing in mid-February, the House Energy and Commerce Subcommittee on Communications and Technology will hold a second hearing related to the Satellite Television Extension and Localism Act (STELA), which expires in 2014 (see This Week’s Hearings below).  The witness list has not yet been finalized, … Continue Reading

Senator Reid Filed Cloture on Immigration Reform Bill; House Bipartisan Gang of Eight is Now Gang of Seven – Final Drafting of Bill Underway

Legislative Activity Senate Majority Leader Harry Reid (D-NV) filed cloture on the motion to proceed to debate on the Border Security, Economic Opportunity, and Immigration Modernization Act (S. 744) last Thursday, and the Senate will vote on the motion on Tuesday, June 11.  Majority Leader Reid plans to allow an open amendment process and up … Continue Reading
LexBlog