Tag Archives: Ron Wyden

Many Tax Policy Priorities Remain as Retirement and Pension in Focus for Finance; Treasury Full Steam Ahead on Section 385

Legislative Activity Many Tax Policy Priorities Outstanding as Congress Looks to Home Stretch With Congress back in Washington for several weeks of work before adjourning in advance of the November Election, tax-writers have much work in store – though the lack of legislative days, coupled with the complex and divisive nature of some of the … Continue Reading

Tax Reform Efforts Continue; Section 385, BEPS Implementation Dominate Regulatory Agenda

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

Tax-Writers Press on with Tax Reform Proposals; Treasury to Have “Intense” Comment Period on Section 385 Regulations

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

Tax-Writers Continue Examining Tax Reform Proposals as the Administration and Regulators Focus on International Issues

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

Senate Takes on Business Tax Reform; Treasury to Have “Intense Comment Period” for Inversion Regulations

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

Tax-Writers Debate International Tax Reform, Inversions; OECD Releases “Inclusive” BEPS Framework

Legislative Activity Democratic Tax-Writers Remain Focused on Inversions, Despite Push for International Tax Reform Last week, the House Ways and Means Committee held its first hearing on international tax reform this session. During the hearing, Members and witnesses discussed the need for tax reform, the benefits and challenges that come from doing international tax reform … Continue Reading

Lawmakers Press Onward with Tax Reform Efforts; IRS Issues Regulations, Guidance

Legislative Activity Lawmakers Press Onward with Tax Reform Efforts; Tax Extenders, Highway Funding Coming Into Focus With tax-writers having moved trade legislation out of their respective committees, the Senate Finance Committee’s Tax Reform Working Groups have begun to hold roundtables to brief their colleagues on the status of their work and to receive initial feedback. … Continue Reading

House Passes Highway Funding Bill, Senate Prepares to Vote on Legislation

Legislative Activity House Passes Highway Funding Bill, Senate Prepares to Vote on Legislation Last week, the House voted 367-55 to pass H.R. 5021, the Highway and Transportation Funding Act of 2014. The bill would patch and reauthorize the Highway Trust Fund (HTF) through May 2015 by using transfers from the General Fund and the Leaking Underground Storage … Continue Reading

Senate Finance Committee Aims to Markup Highway Funding Bill

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

Senate Finance Committee Outlines Path Forward on Tax Reform

Legislative Activity Senate Finance Committee Outlines Path Forward on Tax Reform On June 5, Senate Finance Committee Chairman Ron Wyden (D-OR) and Ranking Member Orrin Hatch (R-UT) announced the Committee’s next steps with regard to comprehensive tax reform. As part of its efforts, the Committee will hold three hearings during June and July focused on: … Continue Reading

Senate to Take up Temporary Rax Extenders Package; House Takes Different Approach

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

Lew Before Taxwriting Committees on Presidents’ Budget Proposal

Legislative Activity Lew Before Taxwriting Committees on Presidents’ Budget Proposal Following last week’s release of the President’s FY 2015 Budget Proposal, Treasury Secretary Lew appeared before the Senate Finance and House Ways and Means Committees to discuss the Administration’s proposal. In addition to addressing the Administration’s budget, Members discussed comprehensive tax reform, specifically focusing on … Continue Reading

House Ways And Means Committee Chairman Dave Camp Will Release A Comprehensive Draft Of A Tax Code Rewrite

LEGISLATIVE ACTIVITY House Tax Overhaul House Ways and Means Committee Chairman Dave Camp (R-MI) has told GOP panel members he will release a “comprehensive discussion draft” this week of a tax code rewrite. While getting a major change in tax law this year is widely considered to be a long shot, this marks a turning … Continue Reading

Baucus Confirmed as Ambassador to China

Legislative Activity Baucus Confirmed as Ambassador to China Last week, Senate Finance Committee Chairman Max Baucus (D-MT) was confirmed by the Senate to serve as the next U.S. ambassador to China.  Senator Ron Wyden (D-OR) will assume the committee chairmanship, with speculation that the empty committee seat will be filled by Mark Warner (D-VA), although … Continue Reading

DOE to Provide $50M to Make Electric Vehicles More Affordable & Hearing to Explore Lifting Ban on U.S. Crude Oil Exports

Regulatory Activity Funding for Autos The Department of Energy (DOE) has announced it will provide $50 million in funding for its FY 14 Vehicle Technologies Program to help “make plug-in electric vehicles (PEVs) more affordable and convenient…within the next 10 years.” The funding will be dedicated to target areas including: advanced light-weighting, advanced battery development, … Continue Reading

Executive Order — Preparing the United States for the Impacts of Climate Change

Executive Branch Activity Executive Order — Preparing the United States for the Impacts of Climate Change On Friday, President Obama issued an Executive Order intended to help states and local communities address the impacts of severe weather resulting from climate change. The Order addresses the potential for incentives to local communities to make investments to … Continue Reading

Priorities to “Maximize the Advantages of America’s Natural Gas Boom”

Legislative Activity Energy Efficiency The “Shaheen-Portman” bill (S. 761) is expected to be considered on the Senate floor this week. Senate leaders are working to reach an agreement on amendments, some of which would be controversial (e.g., expedited approval of the Keystone XL pipeline). Natural Gas Senate Energy and Natural Resources Committee Chairman Ron Wyden … Continue Reading
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