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 House Farm Bill. On July 12, the House narrowly passed a revised “agriculture-only” Farm Bill (H.R. 2642) by a vote of 216 to 208, with 12 Republicans voting against the bill. The bill repealed the 1949 Act, which would authorize commodity programs to be permanent law. Less than 218 votes were needed to … Continue Reading
Legislative Activity Student Loan Reform Senators continue to work on a bipartisan deal to address federally subsidized student loan interest rates, which expire July 1. The long-term deal, which is expected to (1) peg the rates to the 10-year Treasury bill, (2) include a consolidated rate cap – something Democrats have called “non-negotiable,” and (3) … Continue Reading
Legislative Activity Student Loan Interest Rates Last week, the Senate held votes on two competing measures to address federally subsidized student loan interest rates, which expire July 1. Both measures failed to garner the 60 votes needed for passage, setting up likely bipartisan negotiations this and next week to work on a compromise bill before … Continue Reading
