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
Legislative Activity Lawmakers May Extend TRIA and Consider Insurance Capital Standards in the Lame Duck As Congress returns to Washington, lawmakers may focus on a few agenda items beyond appropriations legislation. Particularly, Congress may look at reauthorizing the Terrorism Risk Insurance Act (TRIA), at least through a short-term extension. Earlier this year, the House Financial … Continue Reading
Legislative Activity Senate to Vote on Highway Funding Bill This week, the Senate is expected to vote on H.R. 5021, the Highway and Transportation Funding Act of 2014, which recently passed the House by a vote of 367-55. The bill would patch and reauthorize the Highway Trust Fund (HTF) through May 2015 by using transfers … 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
Executive and Legislative Branch Activity Defense Authorization The Senate returns to Washington this afternoon and is scheduled to resume its floor debate on the Fiscal 2014 National Defense Authorization Act (NDAA) ( S.1197). Top Members of the House and Senate Armed Services Committees have been working on a scaled-back NDAA bill to ensure its passage … Continue Reading
