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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 when it comes to explaining whose taxes will have to go up to help control costs. There is still a lot unknown about the plan with any specificity. While there is an agreement that the tax cut proposal will have some deficit impact, the plan will partially defray the cost with offsetting tax increases, but how and what will do so remains unclear.

The full blueprint is here and a one-pager is here.

Deal or No Deal?

After dinner last night between President Trump and the two top Congressional Democrats, Senate Minority Leader Chuck Schumer (D-NY) and House Minority Leader Nancy Pelosi (D-CA), a number of reports have emerged about whether the three agreed to a deal around a host of immigration issues, including those around how to protect individuals impacted by the repeal of DACA.  While the Democratic leaders have stated that an agreement had been reached, the White House and Congressional Republican have pushed back against those assertions.  Like other issues that must be dealt by the federal government, the situation on this front also remains fluid.

Read more herehere, and here.

DHS Provides Additional Materials, Documents on DACA Termination

The Department of Homeland Security has released several documents related to this morning’s announcement that DACA is being rescinded.  These include:

DACA Being “Rescinded”

Earlier this morning, Attorney General Jeff Sessions announced that the DACA program is unconstitutional and is being “rescinded” by the Trump Administration. During his remarks, he added that the Department of Homeland Security (DHS) has started the “orderly wind down” of the program.

DHS has posted the following memo on the steps that it is taking to end DACA.

Federal Relations will continue to provide updates.

 

Senate Follows House and Leaves Town

After voting on a number of nominees for Administration positions yesterday, the Senate followed the lead of the House and left town for a shortened August recess.
Although the members of the Senate left Washington yesterday, the chamber will hold pro forma sessions every three days to prevent recess appointments, should dramatic things occur in the context of the Russia investigations during the remainder of the month.