Federal Relations

Tax & Finance


November 2, 2017

Tax Cuts and Jobs Act

The House Republican Leadership unveiled their much-awaited Tax Cuts and American Jobs act. At first glance, the measure would: cut the corporate tax rate to 20%; reduce the seven individual tax brackets into four; nearly double the standard deduction to $24K (married), $18,300 (head of household), and 12,200 (single); increase the child care tax credit…


October 30, 2017

This Week: CHIP and Taxes

The House and Senate are back this today for what will be the long slog until Thanksgiving. There’s a ton of to-do items on the agenda, including tax reform, raising the debt ceiling, FY 2018 appropriations, the annual National Defense Authorization Act (NDAA), and the list goes on. The focus for the House this week…


October 26, 2017

House Agrees to Senate Budget and Tax Guidelines

Today, the House adopted the Senate-passed FY2018 budget resolution, H. Con. Res. 71, that would lay down the foundation for tax cuts.  While a budget resolution is traditionally used to set up the broad parameters for spending for a given fiscal year, this year’s resolution is being used as a vehicle to set up procedures to move…


October 20, 2017

Budget and Taxes

The Senate passed its FY 2018 budget by a vote of 51-49 on last night. The passage is a key step to Republican hopes of creating and passing any tax overhaul measure through Congress along party lines in the coming months. Senator Rand Paul (R-KY) was the lone Republican dissenter. Behind the scenes, GOP leaders have already hammered…


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…



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