Tag Archives: House Ways and Means Committee

Tax-Writers, Treasury Talk Tax Reform

Legislative Activity Pressing Forward with Tax Reform Prior to last week’s Memorial Day recess, both the House Ways & Means and Senate Finance Committees held hearings, which focused on the state of tax reform. First, in their hearings reviewing the President’s FY 2018 Budget Proposal, tax-writers focused on various issues, including: (1) the timing and … Continue Reading

Tax-Writers Huddle Up as Trump Releases Tax Principles

Legislative Activity House Tax-Writers Hold Two-Day Meeting on Tax Reform Today, Monday, May 1, House Ways and Means Committee Republicans will continue their two-day meeting to reach a consensus on tax reform – a task that comes amidst the release of the Trump Administration’s tax reform principles (discussed further below). As senior House tax-writer Devin … Continue Reading

Trump and Treasury Turn to Tax Reform

Legislative Activity How About That Hearing?: The Tax Reform Saga Continues After speculation by some that the House Ways and  Means Committee would hold the first hearing on its tax reform proposal this week, no such hearing was ultimately scheduled. That said, tax-writers are continuing to work to push forward their tax reform efforts. Our … Continue Reading

Brady’s BAT Battle; Trump Takes on Tax Reform

Legislative Activity Brady May Be Open to “Significant Modifications” on BAT as the Trump Administration Takes More Active Role in the Tax Reform Debate As the health care reform debate continues to unfold, congressional tax-writers are preparing to move forward swiftly with their tax reform efforts. Though House Ways and Means Committee Chairman Kevin Brady (R-TX) has … Continue Reading

GOP Leaders Discuss Timing of Tax Reform; Clarity May Be Needed on New Treasury Regs

Legislative Activity GOP Sets Out Timeline for Tax Reform Last week, Republican lawmakers traveled to Philadelphia for a retreat to discuss their priorities for the 115th Congress.  Among the top priorities for the GOP: tax reform. According to House Speaker Paul Ryan (R-WI), the House will turn its full time and attention to tax reform … Continue Reading

Questions Over GOP Tax Reform Proposal Emerge; Acting Treasury Secretary Named

Legislative Activity Border Adjustability in the Spotlight Though healthcare and repealing and replacing the Affordable Care Act have thus far been the primary focus of the tax-writing committees this Congress, policymakers are still continuing to move forward with tax reform. Among the proposals in the House Republicans’ tax reform “Blueprint” receiving the most attention in recent weeks … Continue Reading

Many Tax Policy Priorities Remain as Retirement and Pension in Focus for Finance; Treasury Full Steam Ahead on Section 385

Legislative Activity Many Tax Policy Priorities Outstanding as Congress Looks to Home Stretch With Congress back in Washington for several weeks of work before adjourning in advance of the November Election, tax-writers have much work in store – though the lack of legislative days, coupled with the complex and divisive nature of some of the … 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

Tax-Writers Gear Up to Release Proposals; Treasury Response to Concerns Over Section 385 Regs Unclear

Legislative Activity Coming Soon: The GOP’s Tax Reform “Blueprint” With House Republicans expected to roll out their comprehensive tax “blueprint” this month – and lawmakers set to leave Washington on Friday, June 24 – it is likely that we will see the proposal released this week. It is quite possible, however, that the final product may … Continue Reading

Congressional Tax Reform Efforts Carry On, as Section 385 and BEPS Issues in Focus for the Administration

Legislative Activity Tax Reform Discussions Persist, Proposals Due Out This Month House Ways and Means Committee Chairman Kevin Brady (R-TX) remains focused on efforts to overhaul the U.S. tax Code and is expected to release his tax reform “blueprint” this month. He recently stated that he anticipates continuing to concentrate efforts on the blueprint “through … Continue Reading

Tax-Writers Press on with Tax Reform Proposals; Treasury to Have “Intense” Comment Period on Section 385 Regulations

Legislative Activity As June Nears, Tax-Writers Press Forward with Tax Reform Proposals Following last week’s Senate Finance Committee hearing to discuss Chairman Orrin Hatch’s (R-UT) “corporate integration” proposal as relates to the pros and cons of a dividends paid deduction regime, this week, on Tuesday, May 24, the Committee will hold its second in a … Continue Reading

Tax-Writers Continue Examining Tax Reform Proposals as the Administration and Regulators Focus on International Issues

Legislative Activity Congressional Tax-Writers Press on With Tax Reform Proposals This week, the House Ways and Means Subcommittee on Tax Policy, chaired by Representative Charles Boustany (R-LA), will hold a hearing to examine Member proposals to improve the current U.S. tax system. This hearing is part of a series of hearings on tax reform and … Continue Reading

Fiduciary Rule and Puerto Rico in Focus for Financial Services Lawmakers; SEC, CFTC, FDIC to Hold Meetings

Legislative Activity Congressional Republicans Place DOL’s Fiduciary Rule in Crosshairs Last week, on April 19, just one day after Senate Republicans introduced a resolution to disapprove and nullify the Department of Labor’s (DOL) Fiduciary Rule, House Republicans introduced a companion resolution also targeting the rulemaking. Two days later, on April 21, the House Education and … Continue Reading

Senate Takes on Business Tax Reform; Treasury to Have “Intense Comment Period” for Inversion Regulations

Legislative Activity Senate to Consider Business Tax Reform Proposals Following multiple hearings on tax reform thus far this year in the House Ways and Means Committee, this week the Senate Finance Committee will hold a hearing on business tax reform. During the hearing, the difference between Republican and Democrat approaches to taxing corporate income, including … Continue Reading

Comprehensive Tax Proposal Expected by June; Inversions, CbyCR on Horizon for Regulators

Legislative Activity Tax –Writers Plan to Put Out Comprehensive Blueprint by June Last Friday, April 15 (i.e., Tax Day), House Ways and Means Committee Chairman Kevin Brady (R-TX) confirmed that the Tax Reform Task Force (set up earlier in the year by Speaker Paul Ryan (R-WI)) plans to release a comprehensive tax reform “blueprint” by … Continue Reading

Tax-Writers to Examine Tax Reform Proposals, May Move on Tax Extenders

Legislative Activity House Tax-Writers Continue Moving Forward with Work on Tax Reform This week, on Wednesday, April 13, the House Ways and Means Subcommittee on Tax Policy will hold a hearing to continue the Committee’s efforts to examine “fundamental tax reform proposals.” In March, Ways and Means Committee members examined legislative proposals related to cash-flow … 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

House Divided on Fiduciary Rule, Puerto Rico; CFTC Likely to Proceed on Positions Limits Despite Industry Objections

Legislative Activity Lawmakers Still Divided on Labor’s Fiduciary Rule With the Department of Labor’s (DOL) Fiduciary Rule now with the Office of Management and Budget and being prepared for release in final form later this spring, last week Speaker of the House Paul Ryan (R-WI) emphasized his opposition to the proposal, noting that he is … Continue Reading

Tax-Writers Debate International Tax Reform, Inversions; OECD Releases “Inclusive” BEPS Framework

Legislative Activity Democratic Tax-Writers Remain Focused on Inversions, Despite Push for International Tax Reform Last week, the House Ways and Means Committee held its first hearing on international tax reform this session. During the hearing, Members and witnesses discussed the need for tax reform, the benefits and challenges that come from doing international tax reform … Continue Reading

International Tax Reform Takes Center Stage; IRS Holds Meeting on Special Enrollment Examination User Fees

Legislative Activity House to Continue Push for International Tax Reform As part of House Ways and Means Committee Chairman Kevin Brady’s (R-TX) continued commitment to moving forward with international tax reform – at least to some extent – this Congress, on Wednesday, February 24, the Committee will hold a hearing to discuss international tax reform. The … Continue Reading

Fiduciary Rule Still in Focus, As Financial Services Lawmakers Consider Importance of Short-Term Credit Availability

Legislative Activity House Committees Mark-Up Fiduciary Rule Legislation as Senators Introduce Companion Bills With the Department of Labor (DOL) having recently submitted its Fiduciary Rule to the Office of Management and Budget (OMB) – officially beginning the countdown before DOL’s proposal is released in final form – last week, the House Ways and Means and … Continue Reading

Tax-Writers to Scrutinize Obama’s Budget; IRS to Hold Meeting on Transfers of Property to Foreign Corporations

Legislative Activity Tax-Writers to Scrutinize Obama’s Budget With President Obama set to release his FY 2017 Budget Proposal on the morning of Tuesday, February 9, House and Senate tax-writers this week have scheduled numerous hearings to review the tax and revenue portions of the Budget. The proposals – at least some of which are sure … Continue Reading
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