Skip to main content
Federal Relations

Tax & Finance

October 17, 2017

Senate Begins Debate on Budget Resolution

The Senate has begun its floor debate on the FY2018 budget resolution. As mentioned previously, although usually used to determine parameters of federal spending, this year’s package contains a set of procedures that would enable the chamber to adopt a tax package by a simple majority. With all Democrats expected to oppose it, one Republican…

October 16, 2017

Senate Expected to Take Up FY2018 Budget Resolution

The full Senate is expected to take up this week its FY2018 budget resolution.  The House cleared its version earlier this month. While the budget resolution usually lays out the budget parameters for a given year, the primary goal of the FY2018 budget resolution is to set up for procedures that would allow Republicans to pass a…

October 10, 2017

More Disaster Relief; Tax Reform Slowly, Slowly

It’s getting expensive to deal with disaster relief. Going first, the House is scheduled to vote this week on the second installment of hurricane relief aid. While the Trump administration requested $29.3 billion, lawmakers have been busy trying to add to the total. Texas lawmakers want an extra $18.7 billion for victims of Hurricane Harvey, which…

October 5, 2017

House Passes Budget

House Republicans passed budget legislation today that sets the stage for an ambitious tax bill that they plan to pass. The House measure includes language that would allow the Senator to pass a tax measure without invoking cloture. The Senate is proceeding on a separate track toward passing its own budget, which will have to be…

October 2, 2017

Budget? Budget?

The Senate Budget Committee will take its first steps on a framework for federal spending and tax cuts in FY 2018 this week. The Senate Budget Committee released its FY 2018 draft resolution on Friday that would establish the path for consideration of revenue, spending, and other fiscal legislation. Senate Committee will debate overall limits on discretionary…

September 27, 2017

Big Six Reveal Tax Reform Framework

As expected, the long-awaited proposal released Wednesday. Negotiated by the “Big Six” — Treasury Secretary Steven Mnuchin, National Economic Council Director Gary Cohn, Senate Majority Leader Mitch McConnell, House Speaker Paul Ryan, House Ways & Means Chairman Kevin Brady, and Senate Finance Committee Chairman Orin Hatch —  is heavy on promoting the Republican tax cut desires and light…

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…

Next page