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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.

November 8, 2019

Another stopgap spending bill looks likely as government funding deadline approaches
Signals coming from both ends of Pennsylvania Ave. suggested that Congress will move another short-term spending bill to keep the government’s doors open after the continuing resolution that is currently funding government operations expires later this month – and that development likely means a delay in finalizing a tax package that could possibly include some combination of extensions of expired and expiring deductions, credits, and incentives; “green energy” incentives; retirement security legislation; technical corrections and other fixes to address issues in the 2017 tax code overhaul; and new reporting requirements for Qualified Opportunity Funds.

Senate panel approves bipartisan budget process reforms
The Senate Budget Committee approved legislation that is intended to reform the federal budget process by promoting long-term fiscal planning, eliminating “brinksmanship” around the nation’s debt limit, requiring lawmakers to include deficit-reduction targets in their budget resolutions, and creating a mandatory fast-track procedure for moving measures to lower the deficit if Congress appears to be falling short of its deficit-reduction goals.

November 8, 2019

Archive

November 1, 2019
Supporters of clean energy incentives, Opportunity Zone reporting requirements vie for spots in year-end bill

October 25, 2019
Democratic effort to overturn Treasury rules on workarounds for SALT deduction cap fizzles in Senate

October 18, 2019
Finance task force delivers inconclusive report on disaster-relief tax provisions

October 11, 2019
IRS releases new guidance on virtual currency transactions

September 27, 2019
Tax proposals remain on hold as short-term spending bill clears Senate, heads to White House

September 20, 2019
House clears stop-gap spending bill without tax changes

September 13, 2019
Extenders, retirement security await post-recess action while technical corrections remains a wild card

August 30, 2019
Finance task force offers narrow recommendations for Indian employment, American Samoa development credits

August 16, 2019
Few policy recommendations in first tranche of Finance Committee ‘extenders’ task force reports

August 2, 2019
Spending caps and debt limit bill clears Senate, heads to White House

July 26, 2019
Debt limit, spending ‘caps’ deal clears House – without tax provisions

July 19, 2019
Four tax treaty protocols clear Senate

July 12, 2019
Sticker price of permanent TCJA individual, passthrough provisions jumps to $920 billion, JCT says

June 28, 2019
Ways and Means Democrats, Republicans still dug in on SALT arguments

June 21, 2019
Extenders package – plus disaster relief, expanded worker and family credits, and estate tax offset – clears Ways and Means

June 14, 2019
House taxwriters prepping opening bid on extenders

June 7, 2019
IRS reform, retirement savings bills hit obstacles, despite bipartisan support

May 24, 2019
House OKs bipartisan retirement savings reform package – with ‘kiddie tax’ fix

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

House taxwriters to explore economic impact of 2017 tax cuts
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