Legislative Activity
Hatch, Ryan Announce Priorities for Tax Writing Committees
Last week, Senate Finance Committee Chairman Orrin Hatch (R-UT) and House Ways and Means Committee Chairman Paul Ryan (R-WI) announced their committees’ priorities for the 114th Congress.
With respect to tax reform, Chairman Hatch indicated that any overhaul of the tax Code must make it “simpler, fairer, and more efficient,” while at the same time promoting savings and investment and putting American job creators at a competitive advantage. Outside of reform, Chairman Hatch indicated that the committee will focus on trade, healthcare, and Medicare, Medicaid, and Social Security issues, among others. On the House side, Chairman Ryan likewise recognized the importance of tax reform and suggested that his committee will also focus on healthcare issues and job creation.
House Democrats to Pursue Inversion Legislation
Following a flurry of discussion surrounding corporate tax inversions during the 113th Congress, House Minority Leader Nancy Pelosi (D-CA) last week sent a letter to her caucus indicating that House Democrats will continue to focus on corporate inversions in 2015. Specifically, Minority Leader Pelosi noted that she plans to reintroduce the Stop Corporate Expatriation and Invest in America’s Infrastructure Act. Separately, Erik H. Corwin, IRS Deputy Chief Counsel (Technical) indicated that the IRS is actively working on inversion regulations.
This Week’s Hearings:
- Tuesday, January 13: The House Ways and Means Committee will hold a hearing titled “Moving America Forward,” which will focus on the state of the U.S. economy and policies that can promote job creation and economic growth. Immediately following the hearing, the Committee will hold an organizational meeting.
