At the end of the month, the European Union (EU) finally reached a deal – after weeks of negotiations – on an oil ban against Russian sourced oil and petroleum products. In mid-May, the United States (US) and EU concluded their second US-EU Trade and Technology Council ministerial meeting. Meanwhile, absent a free trade agreement … Continue Reading
What is the fate of the next COVID relief bill, in a Trump or Biden Administration? What would a change in the Senate majority mean under a Republican or Democratic administration? What is the outlook on the US economy, infrastructure development, tax reform and other critical issues in 2021 from a former Speaker of the … Continue Reading
The United Kingdom (UK) unveiled its new human rights sanctions regime this past week, along with its first designations. The United States (US) welcomed the action, and some US lawmakers continue to urge the European Union (EU) to adopt a similar regime. Meanwhile, the EU moved forward with its trade policy review, with some seeking … Continue Reading
America’s top monetary policy official, Federal Reserve Board Chairman Jerome Powell, is urging the US Congress to extend the enhanced unemployment benefits approved this spring that are set to expire at the end of July, intensifying a policy debate that will be pivotal to the negotiations next month that will determine the next phase in … Continue Reading
As you will recall, earlier this year, President Trump issued an Executive Order requiring the Department of Treasury to identify regulations issued during the last year of the Obama Administration that would increase burdens on taxpayers and impede economic growth. After identifying eight such regulations in an interim report released in June, Treasury last week … Continue Reading
With Congress back in session following its August recess, one agenda item stands above the rest in terms of priority: tax reform. After several failed attempts at repealing the Affordable Care Act earlier this year, and with few other major achievements nearly nine months into the 115th Congress, Republicans are in need of a win … Continue Reading
Legislative Activity The Prospects for Tax Reform in Trump Town With the 115th Congress nearing the end of month two, tax reform continues to be a focal point of the political debate in Washington. Intent to move forward with their tax reform “Blueprint” released in June 2016, Speaker Paul Ryan (R-WI), House Ways and Means … Continue Reading
Legislative Activity Lawmakers Look at Specific Tax Policy Priorities with an Eye Toward Tax Reform in 2017 With the House last week having passed various targeted pieces of tax legislation, it is clear that much of the rest of this Congress will be devoted to more narrow asks, though continued efforts in anticipation of tax … Continue Reading
Legislative Action Comprehensive Energy Bill As we have previously reported, while the House has voted to go to conference on comprehensive energy legislation and has already appointed its conferees, the Senate has yet to do the same. Work continues in the Senate to clear potential obstacles to agreeing to a conference with the House and … Continue Reading
Executive Branch Activity U.S.-China Joint Announcement on Climate Change President Obama and Chinese President Xi Jinping have announced an unprecedented effort to reduce greenhouse gas (GHG) emissions. The target for the United States is to cut its GHG emissions by 26-28 percent below year-2005 levels by 2025. China is expected to increase its share of … Continue Reading
Tax Legislative Activity Baucus Releases International Reform Proposal On Tuesday, November 19, Senate Finance Committee Chairman Max Baucus (D-MT) released a staff discussion draft on international business tax reform. In his statement, Chairman Baucus indicated that today’s international reform draft is intended to be revenue neutral, but reiterated his position that, as a whole, tax … Continue Reading
Legislative Activity Comprehensive Tax Reform to be Delayed House Ways and Means Chairman Dave Camp (R-MI) acknowledged last week that plans to overhaul the nation’s tax code may not make it out of committee this year. Although Chairman Camp remained hopeful, he pointed to the government shutdown as slowing momentum and demurred when asked whether … 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 Funding Options for Reauthorization Sen. Barbara Boxer (D-CA), Chairman of the Senate Environment and Public Works Committee, said last week that she plans to reveal potential funding options for the Highway Trust Fund soon. Sen. Boxer supports maintaining a user-fee system for surface transportation programs saying to the Transportation Construction Coalition last Tuesday, … 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
