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Federal Relations

Tax & Finance


May 25, 2017

Tax Provisions in the FY 2018 Administation’s Budget Proposal

In an effort to set the agenda for tax reform later in the 115th Congress, the New Foundation for American Greatness Budget for FY 2018 does contain a number of tax provisions in various sections. The White House Budget provides few specific details about the Administration’s plans for tax reform, noting that details “will be released at…


April 26, 2017

Trump Tax Plan Released

The Trump Administration released its initial tax proposal. There are still lots of questions and items to be negotiated. The rollout came via a press conference held by Treasury Secretary Mnuchin and National Economic Council Director Gary Cohn. The highlights are below. Personal Tax Reform For individuals, income tax rates would be set at 10%, 25%, and 35%;…


February 14, 2017

More Movement Seen on Senior Administration Officials Front

Late Monday, recently appointed White House National Security Advisor Michael Flynn resigned from his post. The resignation was prompted by what he shared with Vice President Pence about his call with the Russian ambassador to the United States almost immediately following the Presidential election in November. Flynn had reportedly told Pence that he did not…


December 14, 2016

Two Budgets Next Year

Congress will do two budget resolutions next year. The first will be aimed at the ACA early in the Congress and the second effort at reconciliation will be aimed at tax reform, which should be in the Spring. The first budget that House and Senate Republicans will unveil early next year will include reconciliation instructions to…


November 21, 2016

Trump First Day Agenda

President-elect Trump posted a 2 minute 37 second video on You Tube, which is the first time he’s addressed the American people directly since the election. Mr. Trump’s video included six calls for action on trade, immigration, energy, regulatory curbs, national security (specifically cyber infrastructure), and lobbying ethics changes, most of which have already been…


September 12, 2016

House Oversight to Hold Hearing on Endowments

The House Ways & Means Subcommittee on Oversight will hold a hearing on university endowments tomorrow, Tuesday, September 13th at 10 AM/ET. Titled, “Back to School: A Review of Tax-Exempt College and University Endowments,” the hearing is following up on an October 2015 hearing on, “The Rising Costs of Higher Education and Tax Policy.” The committee…


January 27, 2016

Endowments Fall 2.4%

Colleges saw significantly lower returns on their endowments in the 2015 fiscal year. The annual NACUBO-Commonfund Study of Endowments found that 812 colleges returned an average of just 2.4 percent after fees, down from 15.5 percent in 2014 and the lowest return since the -0.3 percent reported for 2012. The long-term return was well below…


December 17, 2015

House Passes Tax Extenders

Today, the House passed a $622 billion tax package that permanently renews a number of tax provisions following years of short-term extensions. Seventy-seven Democrats joined 241 Republicans to pass the measure in a 318 to 109 vote. Several tax breaks created under President Obama’s stimulus package are made permanent, including the American Opportunity Tax Credit,…


December 16, 2015

Tax Extenders Bill Released

House Republicans unveiled a $650 billion permanent tax package early Wednesday morning.  Key elements of the package were the permanent extensions of the research and experimentation tax credit and several charitable donation tax breaks. Sections of note include: Section 102. Enhanced American opportunity tax credit is made permanent. The Hope Scholarship Credit is a credit of…


Omnibus Released

House Republican Leadership released the long-awaited FY 2016 omnibus appropriations and tax extenders package late last night. The $1.15 trillion, 2,009-page package was delayed until just after 1:30 a.m. Wednesday after party leaders spent Tuesday swapping final offers. House Republican Leadership initially said they would adhere to the GOP’s “three-day rule,” releasing the package on Tuesday…



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