Tag Archives: Treasury Department

Banking Committee to Vote on Treasury Nominations as Regulators Focused on FinTech, Fiduciary Rule

Legislative Activity Senate Banking to Vote on Treasury and Commerce Nominations This Week This week, on Tuesday, May 23, the Senate Banking Committee will vote on the nominations of several individuals to fill key posts within the Treasury and Commerce Departments (see below for additional details). Last week, Senate Banking Democrats concentrated on potential Trump … Continue Reading

Busy Week at the Banking Committee; Treasury on the Hill as Trump Fills Out Financial Services Regulators

Legislative Activity Senate Banking to Host Secretary Mnuchin, Focus on Treasury This week, the Senate Banking Committee will consider the nominations of several individuals to fill key posts within the Treasury and Commerce Departments (see below for additional details). The Committee will also host Treasury Secretary Steven Mnuchin to discuss an array of domestic and … Continue Reading

Full Steam Ahead with Financial Services Regulatory Reform

Legislative Activity House Financial Services Committee Chooses CHOICE Act as President Trump Signs Financial Services Executive Orders After a two-week recess, the House Financial Services Committee is wasting no time getting back to work as it plans to hold a hearing on the Financial CHOICE Act this Wednesday. The bill, an acronym standing for Creating … 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

President Trump Settles into the White House; The U.S. Senate Confirmed Gen. Mattis as the Next Secretary of Defense

On Friday, 20 January, Donald J. Trump was sworn in as the 45th President of the United States of America. In his remarks, President Trump stated: “Every decision on trade, on taxes, on immigration, on foreign affairs, will be made to benefit American workers and American families.” He added: “We will follow two simple rules: … 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

Tax-Writers Focused, Looking Toward 2017 for Large-Scale Reforms; Treasury Set to Move on Section 385 Regulations

Legislative Activity Lawmakers Look at Specific Tax Policy Priorities with an Eye Toward Tax Reform in 2017 With the House last week having passed various targeted pieces of tax legislation, it is clear that much of the rest of this Congress will be devoted to more narrow asks, though continued efforts in anticipation of tax … Continue Reading

Terrorism Financing, Consumer Protection in Spotlight; Various Financial Services Regulators to Meet

Legislative Activity Senate Banking Takes on Terrorism Financing Taking the lead from the House Financial Services Committee, which held a hearing earlier this month to exam the terrorism financing implications of the “ransom payments” to Iran, the Senate Banking Committee will hold a hearing this Wednesday on the matter. Outside of the more recent focus … 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

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

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

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

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

Tax-Writers May Move on Tax Extenders, IRS Delays Dividend Equivalent Rules

Legislative Activity Lawmakers Moving Toward Resolution on Tax Extenders With potentially only five legislative days remaining before Congress is scheduled to adjourn for the year, tax-writers and congressional leaders are continuing their work to finalize a tax extenders package, with the House having scheduled time to vote on potential legislation this week. Thus far, Republicans … 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

Returning to the Debate on Long-Term Highway Funding

Legislative Activity Finding a Way to Fund the Nation’s Highways…The Debate Continues Prior to adjourning for the Memorial Day recess, lawmakers passed legislation that extended highway funding authority for a two-month period through July 31. Now, with Congress set to return to Washington this week, lawmakers will yet again be tasked within finding a way to … Continue Reading

Congress to Focus on Budget, Economic Report; Lawmakers to Discuss Fairness in the tax Code

Legislative Activity President’s Budget, Economic Report in Focus This week, Treasury Secretary Jack Lew is scheduled to testify before the House and Senate Appropriations Committees about President Obama’s FY 2016 Budget Request. On Tuesday, March 3, Secretary Lew, along with Internal Revenue Service (IRS) Commissioner John Koskinen and Treasury Inspector General for Tax Administration Russell … Continue Reading
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