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
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
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
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
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
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
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
Legislative Activity House Passes Highway Funding Bill, Senate Prepares to Vote on Legislation Last week, the House voted 367-55 to pass H.R. 5021, the Highway and Transportation Funding Act of 2014. The bill would patch and reauthorize the Highway Trust Fund (HTF) through May 2015 by using transfers from the General Fund and the Leaking Underground Storage … Continue Reading
Legislative Activity Senate Finance Committee Aims to Markup Highway Funding Bill While not yet noticed, the Senate Finance Committee is expected to markup a short-term highway funding bill before the week-long July 4 holiday recess; however, it is possible that the markup will slip until Congress returns the week of July 7. While disagreements remain … Continue Reading
Legislative Activity Senate Finance Committee Outlines Path Forward on Tax Reform On June 5, Senate Finance Committee Chairman Ron Wyden (D-OR) and Ranking Member Orrin Hatch (R-UT) announced the Committee’s next steps with regard to comprehensive tax reform. As part of its efforts, the Committee will hold three hearings during June and July focused on: … Continue Reading
Legislative Activity Tax Extenders Bill Stalls in Senate, Timing Now Unclear On May 15, the Senate was unable to garner the 60 votes needed to end debate on tax extenders legislation. The bill, which would provide a two-year extension for certain tax extenders that expired on January 1, stalled as a result of Republican concerns … Continue Reading
Legislative Activity Senate to Take Up Temporary Tax Extenders Package; House Takes Different Approach During the week of May 12, the Senate is expected to take up the EXPIRE Act (S. 2260), which provides a two-year extension for certain tax extenders, which expired on January 1. The Senate’s approach for dealing with tax extenders differs … Continue Reading
Legislative Activity Wyden, Camp to Take Next Steps on Tax Extenders On March 24, House Ways and Means Committee Chairman Dave Camp (R-MI) sent a memo to his Committee members regarding next steps on tax reform. In the memo, Chairman Camp suggests that the Committee will: (1) continue its efforts to educate Members and stakeholders; … Continue Reading
Legislative Activity Wyden Planning Extenders Markup in Early April Senate Finance Committee Chairman Ron Wyden (D-OR) is planning to hold a markup of a tax extenders package sometime in early April. While an official date has yet to be announced, there has been suggestion that Chairman Wyden is planning to hold the markup on April … Continue Reading
Legislative Activity Lew Before Taxwriting Committees on Presidents’ Budget Proposal Following last week’s release of the President’s FY 2015 Budget Proposal, Treasury Secretary Lew appeared before the Senate Finance and House Ways and Means Committees to discuss the Administration’s proposal. In addition to addressing the Administration’s budget, Members discussed comprehensive tax reform, specifically focusing on … Continue Reading
LEGISLATIVE ACTIVITY House Tax Overhaul House Ways and Means Committee Chairman Dave Camp (R-MI) has told GOP panel members he will release a “comprehensive discussion draft” this week of a tax code rewrite. While getting a major change in tax law this year is widely considered to be a long shot, this marks a turning … Continue Reading
Legislative Activity Baucus Confirmed as Ambassador to China Last week, Senate Finance Committee Chairman Max Baucus (D-MT) was confirmed by the Senate to serve as the next U.S. ambassador to China. Senator Ron Wyden (D-OR) will assume the committee chairmanship, with speculation that the empty committee seat will be filled by Mark Warner (D-VA), although … Continue Reading
Regulatory Activity Funding for Autos The Department of Energy (DOE) has announced it will provide $50 million in funding for its FY 14 Vehicle Technologies Program to help “make plug-in electric vehicles (PEVs) more affordable and convenient…within the next 10 years.” The funding will be dedicated to target areas including: advanced light-weighting, advanced battery development, … Continue Reading
Executive Branch Activity Executive Order — Preparing the United States for the Impacts of Climate Change On Friday, President Obama issued an Executive Order intended to help states and local communities address the impacts of severe weather resulting from climate change. The Order addresses the potential for incentives to local communities to make investments to … Continue Reading
Legislative Activity Energy Efficiency The “Shaheen-Portman” bill (S. 761) is expected to be considered on the Senate floor this week. Senate leaders are working to reach an agreement on amendments, some of which would be controversial (e.g., expedited approval of the Keystone XL pipeline). Natural Gas Senate Energy and Natural Resources Committee Chairman Ron Wyden … Continue Reading
