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 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
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 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
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
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
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
Legislative Activity Tax-Writers May Punt Highway Bill…Again On July 29, just prior to adjourning, the House overwhelmingly approved a three-month compromise highway spending bill. This three-month extension, which also costs $8 billion and expires on October 29, was passed with hopes that both chambers will now have sufficient time to negotiate a compromise on tax … Continue Reading
Legislative Activity Congress Concerned with BEPS, International Tax Reform Moves Forward Last week, G-7 leaders (i.e., finance ministers and central bank governors from Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) met in Germany to renew their commitment to coming together on a “feasible” proposal to address base erosion and profit … Continue Reading
Legislative Activity House to Vote on Repealing Medical Device Tax House Majority Leader Kevin McCarthy (R-CA) announced last week that the House plans to take up legislation to eliminate the excise tax on medical devices during the week of June 15. The Protect Medical Innovation Act (H.R. 160), which was introduced by Representative Erik Paulsen … Continue Reading
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