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Tax News & Views
Capitol Hill briefing
Tax News & Views, published by the Deloitte Tax LLP Tax Policy Group in Washington, DC, provides a compact, reader-friendly perspective on the latest tax developments coming out of Congress affecting businesses and high-wealth individuals.
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Recent editions appear below; for older issues please email a request to ustaxnews@deloitte.com.
September 27, 2024
Harris, Trump highlight plans for domestic production tax incentives
In rival campaign events, Vice President Kamala Harris and former President Donald Trump touted their respective proposals for tax incentives that are intended to, among other things, spur domestic production and position the US as the global manufacturing leader in the twenty-first century.
Deloitte Tax examines CAMT proposed regulations
A new alert from Deloitte Tax LLP provides a detailed discussion of recently issued proposed regulations on the corporate alternative minimum tax that was enacted in the Inflation Reduction Act of 2022.
Short-term stopgap spending bill becomes law
The House and Senate approved and President Biden signed a “clean” continuing resolution that funds the federal government at current levels through December 20, thus averting a partial shutdown of government operations when fiscal year 2024 draws to a close at midnight on September 30.
Three more Tax Court nominees heads to the bench
The Senate voted to confirm Rose Jenkins, Jeffrey Arbeit, and Benjamin Guider III to 15-year terms as judges on the US Tax Court, leaving just one remaining vacancy on the 19-member bench.
Wyden renews call for partnership tax reform
Senate Finance Committee Chairman Ron Wyden renewed his longstanding call for an overhaul of the tax rules for partnerships as Congress contemplates possible changes to the Internal Revenue Code next year in light of the scheduled expiration of significant portions of the Tax Cuts and Jobs Act of 2017.
Senate Finance subcommittee calls for simplification of remote sales tax collection rules
The Senate Finance Subcommittee on Fiscal Responsibility and Economic Growth highlighted the challenges remote sellers face in complying with varied state sales tax rules since the Supreme Court’s 2018 decision in <i>South Dakota v. Wayfair</i>, which held that states could require remote sellers with no physical nexus to collect and remit sales taxes on in-state transactions—and, as they have done for a number of years, they called for simplification of the system.
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September 20, 2024
Trump calls for eliminating SALT deduction cap
September 13, 2024
Limited—and familiar—tax talk as Harris, Trump meet for presidential debate
August 2, 2024
Senate sinks procedural motion on Smith-Wyden tax bill, leaves for August recess
July 26, 2024
No apparent signs of life for Smith-Wyden tax bill as Senate lurches toward August recess
July 12, 2024
House taxwriters OK measures to rescind EV credit regs, penalize universities, expand section 529 plans
June 28, 2024
No new tax policy insights from first presidential debate
June 21, 2024
CBO ramps up deficit projections in latest budget and economic outlook
June 14, 2024
House appropriators OK pared-down FY 2025 IRS budget proposal without further mandatory funding rescissions
June 7, 2024
House Appropriations panel OKs $2.2 billion IRS budget cut for FY 2025
May 24, 2024
House passes tax package offering relief to disaster victims, but Wyden vows to block quick Senate action
May 17, 2024
Five-year FAA reauthorization—with no amendments—heads to the White House
May 10, 2024
Senate passes five-year FAA reauthorization measure; House expected to follow suit next week
May 3, 2024
TCJA, Pillar Two, Inflation Reduction Act dominate discussion at Ways and Means hearing on White House budget plan
April 19, 2024
Filing season’s over but Wyden’s still committed to bipartisan tax package
April 12, 2024
Bipartisan tax package remains stuck in the Senate