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 House to Vote on Legislation to Permanently Extend R&D Tax Credit During the week of May 5, the House of Representatives is set to vote on H.R. 4438, the “American Research and Competitiveness Act of 2014,” which is one of six bills considered during the House Ways and Means Committee’s markup of certain … Continue Reading
Legislative Activity Ways and Means to Hold Markup of Six Extender Bills On Tuesday, April 29, the House Ways and Means Committee will hold a markup of six bills to permanently extend the business tax provisions discussed in the Committee’s hearing on April 8. The bills are: HR 4429, “To amend the Internal Revenue Code … Continue Reading
Legislative Activity Senators Submit Tax Reform Letters to Finance Committee; Promised 50 Year Secrecy on Tax Expenditure Submissions Senate Finance Committee Chairman Max Baucus (D-MT) and Ranking Member Orrin Hatch (R-UT) asked their Senate colleagues on June 27 to provide proposals in response to a “blank-slate” approach (i.e., assuming elimination of all tax expenditures from … Continue Reading
Legislative Activity Senate Tax Writing Committee Continues Meetings on Reform The Senate Finance Committee has continued its series of closed-door Committee meetings on tax reform, recently issuing its tenth and final option paper on non-income tax issues and related reforms. A list of all the option papers published is available here. Senate Finance Committee Chairman … Continue Reading
Legislative Activity Senate Tax Writing Committee Continues Meetings on Reform The Senate Finance Committee has continued its series of closed-door committee meetings on tax reform, recently issuing an options paper addressing charitable and tax-exempt organizations. The most recent paper is available here. The Committee’s paper on charitable and tax-exempt organizations was the ninth topic covered … Continue Reading
Legislative Activity Tax Writing Committee Meetings Continue The Senate Finance Committee has continued their series of closed-door Committee meetings on tax reform, recently issuing their latest Option Paper last Thursday, June 6 – this one on Types of Income and Business Entities. The closed-door meetings have facilitated discussion among Senators in an attempt to find … Continue Reading
Legislative Branch Activity National Defense Authorization Act (NDAA) Last week the House Armed Services Committee marked-up and passed, by a vote of 59-2, its FY 2014 NDAA bill. H.R. 1960 complies with the House Budget Act, funding national defense at pre-sequester levels but within the sequester budget cap of $966 billion for discretionary funding. Next week, … Continue Reading
Legislative Activity Student Loan Interest Rates As the Senate continues consideration of the Farm Bill, there may be discussion on an amendment (S.A. 976) that would extend the 3.4 percent fixed student loan interest rate for two years, although consideration of this issue will likely take place separate from the Farm Bill. This week, the … Continue Reading
Executive and Legislative Branch Activity Pentagon Budget This Wednesday, June 5, the House Armed Services Committee will mark up its version of the National Defense Authorization Act (H.R. 1960). That same day, the House Defense Appropriations Subcommittee will also mark up, in a closed session, a spending bill for the Department of Defense (DOD). It … Continue Reading
