Tax Tidbit -
Budget Reconciliation: By the Numbers. Since 1980, Congress has passed 26 budget reconciliation bills, 22 of which have become law. During 11 of those 41 years, Congress did not pass any budget reconciliation...more
2/2/2022
/ Biden Administration ,
Budget Reconciliation ,
Business Taxes ,
Coronavirus/COVID-19 ,
Corporate Taxes ,
Federal Budget ,
Income Taxes ,
Infrastructure ,
IRS ,
Legislative Agendas ,
Proposed Legislation ,
Tax Reform ,
U.S. Treasury
Yesterday, the Supreme Court released its opinion in National Federation of Independent Business v. Department of Labor and Ohio v. Department of Labor. Concluding that OSHA’s proposed emergency temporary standard (ETS) was a...more
1/17/2022
/ Biden Administration ,
Centers for Medicare & Medicaid Services (CMS) ,
Constitutional Challenges ,
Coronavirus/COVID-19 ,
Employer Liability Issues ,
Employer Mandates ,
Healthcare Workers ,
Human Resources Professionals ,
Infectious Diseases ,
National Federation of Independent Business v Department of Labor and OSHA ,
OSHA ,
SCOTUS ,
Stays ,
Vaccinations ,
Virus Testing ,
Workplace Safety
After negotiating for months with the White House and congressional Democratic leaders, Sen. Joe Manchin (D-WV) on Sunday announced he would not vote for the Build Back Better Act (BBBA)—the $2.4 trillion reconciliation...more
The House and Senate will reconvene Monday at 6:30 p.m. and 3 p.m., respectively. What to Watch This afternoon, President Joe Biden signed into law the Infrastructure Investment and Jobs Act—the bipartisan infrastructure...more
Tax Tidbit -
Year-End Legislative To-Dos. Washington has been consumed by President Joe Biden’s twin legislative vehicles: the Infrastructure Investment and Jobs Act and the Build Back Better Act—only one of which has been...more
The House and Senate will reconvene Tuesday at 2 p.m. and Monday at 3 p.m., respectively.
What to Watch -
On Friday, Nov. 19, the House passed the Build Back Better Act 220-212. The only House Democrat to vote against...more
Tax Tidbit -
Bipartisan Infrastructure Bill Becomes Law. On Monday, President Joe Biden signed into law the Infrastructure Investment and Jobs Act, which contains $1.2 trillion in funding for traditional infrastructure...more
The Brownstein Tax Policy Team is currently combing through the 1,600-plus pages of budget reconciliation text released last week. Below is a truncated version of Taxation & Representation that provides the latest on the...more
The final legislative weeks of 2021 are packed with a number of must-pass bills, including one to keep the federal government functioning and another—the reconciliation bill—that is a priority of the Biden administration and...more
On Friday, Sept. 10, House Ways and Means Committee Chair Richard Neal (D-MA) released the second tranche of the panel’s recommendations for budget reconciliation—the package through which Democrats aim to enact policies in...more
On Tuesday, Sept. 7, House Ways and Means Committee Chair Richard Neal (D-MA) released part of the committee’s portion of the Build Back Better bill—the expected $3.5 trillion budget reconciliation measure to advance the more...more
On Wednesday morning, the Senate adopted a $3.5 trillion Budget resolution along party lines, 50-49. The resolution contains topline budget instructions for House and Senate committees to develop policies for the $3.5...more
On Monday, Aug. 9, Senate Democrats released the text and supporting materials for the fiscal year (FY) 2022 Budget resolution, which contains topline budgetary instructions for House and Senate committees as they develop...more
On June 24, President Joe Biden announced his support for a bipartisan infrastructure framework that would invest $1.2 trillion over eight years. The framework, a slightly modified version of the one released on June 17,...more
A group of 10 Republican and 10 Democratic senators (the “G20”) released their bipartisan framework on June 16, nearly a week after announcing they had reached an agreement. The framework details $579 billion in new spending...more
On Friday, May 28, the Biden administration released its fiscal year (FY) 2022 budget request (“Budget”) and the following accompanying documents.
- Fact Sheet. Six-page summary of various proposals in the Budget.
-...more
Senate Republicans released a second infrastructure counterproposal this morning. The eight-year $928 billion “Republican Roadmap” includes $360 billion more funding than the party’s April 22 proposal, with increases in every...more
WHAT TO WATCH THIS WEEK -
- Republican Counterproposal. Senate Republicans are crafting a counter-proposal as an alternative to President Joe Biden’s American Jobs Plan (AJP). The package is expected to cost around $600 to...more
5/5/2021
/ American Rescue Plan Act of 2021 ,
Biden Administration ,
Coronavirus/COVID-19 ,
Critical Infrastructure Sectors ,
Department of Transportation (DOT) ,
Federal Budget ,
Infrastructure ,
New Legislation ,
Popular ,
Relief Measures ,
Tax Credits
WHAT TO WATCH THIS WEEK -
- White House Selling AJP. As the administration seeks to gain bipartisan support for its American Jobs Plan (AJP), President Joe Biden will be holding a series of meetings with lawmakers to discuss...more
5/5/2021
/ American Rescue Plan Act of 2021 ,
Biden Administration ,
Coronavirus/COVID-19 ,
Critical Infrastructure Sectors ,
Department of Transportation (DOT) ,
Federal Budget ,
Infrastructure ,
New Legislation ,
Popular ,
Relief Measures ,
Tax Credits
On April 28, President Joe Biden delivered his first address to Congress, touting the passage of the $1.9 trillion American Rescue Act Plan, highlighting progress on vaccinations and outlining a path forward on rebuilding the...more
Following enactment of the American Rescue Plan Act (ARPA, P.L.117-2), the Biden administration indicated its next major priority was passing a comprehensive infrastructure package. The administration released the American...more
4/28/2021
/ Airports ,
American Rescue Plan Act of 2021 ,
Biden Administration ,
Bridges ,
Broadband ,
Coronavirus/COVID-19 ,
Electric Vehicles ,
Federal Funding ,
Highways ,
Infrastructure ,
Ports ,
Relief Measures
Democrats have promised a revamp of the current international tax system to ensure that large multinational corporations pay their “fair share,” stop offshoring jobs, and are incentivized to invest in domestic growth. The...more
WHAT TO WATCH THIS WEEK -
- Administration Proposal. President Joe Biden will travel to Pittsburgh, Pennsylvania, on March 31, where he will unveil the contours of the infrastructure package. Biden Preliminary Budget...more
Note: Congress recently voted on a $1.9 trillion COVID-19 stimulus package—the American Rescue Plan Act (ARPA, P.L.117-2). It includes stimulus checks for individuals, expanded unemployment benefits, and funding for vaccines,...more
4/14/2021
/ American Rescue Plan Act of 2021 ,
Biden Administration ,
Carbon Taxes ,
Clean Energy ,
Coronavirus/COVID-19 ,
Energy Storage ,
Federal Budget ,
Popular ,
Relief Measures ,
Tax Credits ,
Wind Farm
On April 7, 2021, the Treasury Department released a report, the Made in America Tax Plan, which describes the proposed changes to corporate and international law that President Biden outlined in his infrastructure package,...more