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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.
June 1, 2023
Default averted as debt limit legislation clears Senate, heads to White House
The Senate approved and will send to President Biden a House-passed bill that would suspend the federal debt limit through January 1, 2025, averting the risk of a default on the government’s credit obligations that Treasury Secretary Janet Yellen has said would have occurred on June 5 without congressional intervention.
Senate Foreign Relations Committee reapproves US-Chile tax treaty
In a development that many in Congress and the business community hope will lead to the end of a more than decade-long wait, the Senate Foreign Relations Committee once again approved a US-Chile tax treaty that will help prevent double taxation for companies and has become increasingly important to the US electric vehicle industry because of Chile’s copper and lithium mines.
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May 31, 2023 (Special Edition)
Debt limit legislation clears House
May 27, 2023 (Special Edition)
Biden, McCarthy announce framework for debt limit deal
May 26, 2023
Still no debt limit agreement as ‘X-date’ for default approaches
May 19, 2023
Debt limit negotiating group narrows as Biden, McCarthy seek last-minute accord
May 12, 2023
Debt limit quandary still unsolved after Biden, congressional leaders meet
May 5, 2023
White House, Democrats weigh next steps for raising debt limit as Treasury and CBO warn of possible June 1 default
April 28, 2023
House Republicans pass debt limit proposal, but next steps remain unclear
April 21, 2023
House Republicans unveil debt limit proposal ahead of planned vote next week
April 6, 2023 (Special Edition)
IRS releases spending plan for Inflation Reduction Act funding
March 31, 2023
President Biden, Speaker McCarthy spar over debt limit as default deadline draws closer
March 24, 2023
Yellen continues push for ‘expeditious’ congressional action on debt limit, defends new IRS mandatory funding
March 17, 2023
Debt prioritization is ‘default by another name,’ Yellen tells Senate taxwriters
March 10, 2023
Biden revives familiar corporate, high-wealth revenue proposals in FY 2024 budget package
March 9, 2023 (Special Edition)
White House releases FY 2024 budget proposal, ‘Green Book’
March 3, 2023
Biden confirms tax increases will be in White House budget proposal
February 17, 2023
CBO projects bleak long-term fiscal picture, warns of third-quarter default risk
February 10, 2023
Biden returns to familiar corporate, high-wealth tax proposals in State of the Union message
February 3, 2023
White House FY 2024 budget blueprint expected March 9
January 27, 2023
Biden, congressional Democrats rail against ‘Fair Tax’ proposal
January 13, 2023
With a speaker in place, the House is back in business
January 6, 2023
Deadlocked speaker’s race paralyzes House as 118th Congress convenes
December 23, 2022
Omnibus funding package with retirement security provisions headed to White House
December 20, 2022 (Special Edition)
Limited tax title in FY 2023 omnibus appropriations bill
December 16, 2022
Omnibus funding bill taking shape but prospects for substantial tax title still unclear
December 9, 2022
Tax still on the sidelines as lawmakers struggle to clinch government funding accord
December 2, 2022
Limited tax talk as congressional leaders focus on government funding deal
