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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.

May 24, 2019

House OKs bipartisan retirement savings reform package – with ‘kiddie tax’ fix
The House overwhelmingly approved a bipartisan package of retirement savings reforms that also includes a provision to address unintended consequences of a change that Congress made to the so-called “kiddie tax” in the 2017 tax cut law.

Congressional leaders, Trump officials, kick-off talks on debt limit, spending ‘caps’
A bipartisan contingent of congressional leaders left an extended day of meetings with Trump administration officials without a deal to lift the debt limit and avoid automatic spending cuts this fall, but vowed to continue talking.

A bridge too far? Bipartisan infrastructure funding talks collapse
Prospects for a multitrillion-dollar bipartisan infrastructure investment bill – which already seemed to many like a long-shot ahead of the 2020 elections – grew even more dim after a White House meeting on funding ideas ended before it began and the president said he would refuse to work with Democrats in Congress while they continue to investigate him and his administration.

Ways and Means Democrats hint at next steps for extenders
House Ways and Means Committee Democrats offered comments on a possible path forward for addressing expired and expiring tax “extenders” provisions, but specific details on the timing and substance of an eventual legislative proposal remain elusive.

Wyden proposes novel approach to taxing carried interest income
Senate Finance Committee ranking Democrat Ron Wyden introduced legislation that would take a novel approach to closing the perceived loophole in the tax treatment of carried interest income.

May 24, 2019

Archive

May 17, 2019
House plans pre-Memorial Day vote on retirement savings legislation, sources say

May 10, 2019
House taxwriters explore causes of and cures for the ‘tax gap’

May 3, 2019
Trump, Dems target $2 trillion in infrastructure spending – but leave offsets for another day

April 12, 2019
IRS modernization bill clears House

April 5, 2019
Ways and Means clears retirement plan enhancements

March 29, 2019
No shift in partisan positions as Ways and Means members debate impact of 2017 tax law

March 22, 2019
House taxwriters to explore economic impact of 2017 tax cuts

March 15, 2019
Trump administration unveils fiscal 2020 budget package

March 8, 2019
Deloitte Tax looks at section 250 FDII proposed regulations

March 1, 2019
Grassley, Wyden unveil tax extenders, disaster relief package

February 15, 2019
Lawmakers clear spending deal – without extenders – ending near-term shutdown threat

February 8, 2019
Treasury nominees clear Finance Committee, but speedy confirmation not guaranteed

February 1, 2019
Taxwriting leaders mull path forward on extenders

January 25, 2019
Trump announces short-term funding agreement to end partial government shutdown

January 18, 2019
IRS releases shutdown contingency plan

January 11, 2019
Negotiating positions harden as partial government shutdown continues

January 4, 2019
Divided government returns to Washington as 116th Congress convenes

December 21, 2018
Brady’s year-end tax bill clears House, but no Senate action expected

December 14, 2018
Jury still out on Brady’s revised year-end tax proposal

December 7, 2018
Another delay – and continuing uncertainty – for Brady’s year-end tax bill

House taxwriters to explore economic impact of 2017 tax cuts
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