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 Republicans Focus on Small Businesses, Democrats Target Tax “Loopholes” Following a busy week for tax-writers – which included several hearings on “Tax Day” to address tax reform and the potential impact on small businesses – there is growing discussion about the possibility of pursuing business-only tax reform. To that end, Senate Finance Committee … Continue Reading
Legislative Activity Lawmakers to Focus on Federal Reserve, Housing This week, Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, will testify before the Senate Banking and House Financial Services Committees on monetary policy and the state of the economy. Chair Yellen’s remarks come as lawmakers continue to call for reform … Continue Reading
Legislative Activity Ways and Means Votes to Permanently Extend Seven Tax Extenders, Finance Zeroes in on Getting to Tax Reform On Wednesday, February 3, the House Ways and Means Committee held a markup of seven bills to permanently extend certain tax provisions, including section 179 business expensing and various charitable provisions. During the 113th Congress, … Continue Reading
Legislative Activity President Obama, Secretary Lew Outline Tax Reform Proposals As mentioned in previous coverage of the State of the Union Address, President Obama has proposed approximately $320 billion in new taxes, aimed largely at investment income and large financial institutions, with revenues raised from these proposals to be dedicated principally to a new or … Continue Reading
Legislative Activity Reid, Paul Working on Repatriation Bill to Fund Transportation Infrastructure On June 10, Senate Majority Leader Harry Reid (D-NV) and Senator Rand Paul (R-KY) indicated that they are working on legislation that would allow corporations to repatriate foreign earnings at lower rates, suggesting that this revenue could be used to fund improvements to … Continue Reading
