The Senate Finance Committee released its draft tax provisions on Dec. 11 for the Build Back Better Act (BBBA). This draft is substantively similar to the House version that passed on Nov. 19, although Senate Democrats made...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 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 Monday, Sept. 13, House Ways and Means Committee Chair Richard Neal (D-MA) introduced the final portion of the committee’s budget reconciliation recommendations. This alert provides a comprehensive summary and analysis of...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 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
On April 5, Senate Finance Committee Chair Ron Wyden (D-OR), as well as Sens. Sherrod Brown (D-OH) and Mark Warner (D-VA), offered an international tax framework as a starting point to discussions on revamping the current...more
On Thursday, Jan. 14, President-elect Joe Biden unveiled the American Rescue Plan (ARP)—a $1.9 trillion COVID-19 relief proposal his administration will pursue shortly after taking office on Wednesday, Jan. 20.
The...more
With Election Day barely a month away, Brownstein’s National Tax Policy Team has compiled an analysis on the policy implications of various outcomes. The slides found here outlines tax-related legislative priorities in the...more
As the U.S. economy grinds to a halt, the Senate’s Phase Three negotiations have continued past the Republicans’ self-imposed deadline. In the meantime, House Democrats have unveiled Phase Three legislation of their own,...more
On March 16th, lawmakers introduced a set of technical corrections to the Families First Coronavirus Response Act (H.R.6201), which passed the House early Saturday morning....more
Just past midnight on Dec. 17, lawmakers released an amendment to one of two spending bills released on Dec. 16—H.R. 1865—the Further Consolidated Appropriations Act of 2020. Most notably, the amendment included an extension...more
12/18/2019
/ Adjusted Gross Income ,
Affordable Care Act ,
Economic Growth ,
Excise Tax ,
Federal Budget ,
Federal Funding ,
Green Finance ,
Income Taxes ,
Legislative Agendas ,
Natural Disasters ,
Oil & Gas ,
Popular ,
Renewable Energy ,
Retirement Plan ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Extenders ,
Tax Relief
TAX TIDBIT -
Five Takeaways and a Falsehood: Test Your Knowledge of the Ways and Means Tax Markup -
On Thursday, the House Ways and Means Committee marked up and approved the following four bills, largely along...more
7/3/2019
/ Congressional Intent ,
Cybersecurity ,
Double Taxation ,
Federal Budget ,
Income Taxes ,
International Tax Issues ,
IRS ,
Legislative Agendas ,
Opportunity Zones ,
Popular ,
SALT ,
Senate Finance Committee ,
Tax Cuts and Jobs Act ,
Tax Extenders ,
Tax Reform ,
Trump Administration ,
Veterans
Well, they did it. Despite lingering resentment between Democrats and Republicans after the passage of the Tax Cuts and Jobs Act (P.L.115-97), Congress was able to pass tax legislation that was overwhelmingly supported by...more
7/2/2019
/ Appropriations Bill ,
Final Rules ,
Income Taxes ,
IRS ,
Legislative Agendas ,
Opportunity Zones ,
Pending Legislation ,
SALT ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Tax Relief ,
Taxpayer First Act of 2019 (TFA) ,
Trump Administration ,
Ways and Means Committee
In This Issue:
- Tax Tidbit
- Legislative Lowdown
- RegWatch
- 1111 Constitution Avenue
- At a Glance
- Brownstein Bookshelf
- Regulation Station
...more
Tax Tidbit -
Regulators have until June 22 to finalize guidance on the Tax Cuts and Jobs Act (P.L.115-97). The 18-month mark since the legislation was signed into law is quickly approaching. The Treasury Department and...more
5/29/2019
/ Cybersecurity ,
GAO ,
Gig Economy ,
Income Taxes ,
IRS ,
IRS Commissioner ,
Legislative Agendas ,
Regulatory Agenda ,
Retirement Plan ,
Roth IRA ,
Senate Finance Committee ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Trump Administration ,
U.S. Treasury
In This Issue -
- Tax Tidbit
- Legislative Lowdown
- RegWatch
- 1111 Constitution Avenue
- 2020 Vision
- At a Glance
- Brownstein Bookshelf...more
TAX TIDBIT -
SPOILER ALERT: The following piece contains Game of Thrones and Avengers Endgame spoilers—nothing that you probably would not have guessed on your own. But, we would rather not be responsible for ruining a...more
Committee Unanimously Passes Retirement, Tax Administration and Reemployment Services Legislation -
On April 2, the House Ways and Means Committee convened to markup retirement, tax administration and reemployment services...more