Tax News & Views


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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September 22, 2023

House GOP budget writers leave room for ‘pro-growth’ tax cuts in FY 2024 budget resolution
As the House and Senate continued their struggle to lock in a spending agreement for fiscal year 2024, which begins in just nine days, House Budget Committee Republicans approved a budget resolution for the coming fiscal year that appears to call for extending the temporary tax relief provisions enacted in the Trump-era Tax Cuts and Jobs Act of 2017 while also dismantling certain key provisions in President Biden’s Inflation Reduction Act.

Deloitte Tax looks at new interim guidance on mandatory capitalization and amortization of research expenditures
A new alert from Deloitte Tax LLP discusses recent interim guidance from the Treasury Department and the IRS on the requirement enacted in the Tax Cuts and Jobs Act to capitalize and amortize specified research and experimental expenditures under section 174.

Deloitte Tax looks at additional interim guidance on corporate AMT
A new alert from Deloitte Tax LLP addresses key provisions in recent interim guidance from the Treasury Department and the IRS that is intended to help corporations determine whether they are subject to the new corporate alternative minimum tax enacted in last year’s Inflation Reduction Act and how to compute the tax.

Bipartisan Ways and Means contingent blasts Canada’s plan to reinstate digital services tax
Echoing a position already taken by the Biden administration, 23 Republicans and 18 Democrats from the House Ways and Means Committee sent a letter to Treasury Secretary Janet Yellen, US Trade Representative Katherine Tai, and Karen Enstrom, the US’s interim representative to the OECD, decrying Canada’s plan to begin collecting its digital services tax in 2024 as other countries extend a moratorium on their own levies.


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September 15, 2023
Senate taxwriters approve US-Taiwan double-taxation relief agreement

September 8, 2023
What a congressional spending clash this fall could mean for a year-end tax bill

July 28, 2023
New OECD guidance provides needed detail regarding Pillar Two implementation

July 21, 2023
House taxwriters square off over global tax pact as OECD releases new guidance

July 14, 2023
OECD floats extended freeze on new digital services taxes as work on Pillar One implementation continues

June 23, 2023
Pillar Two a likely revenue loser for US, JCT says

June 16, 2023
Ways and Means Republicans advance ‘economic growth’ tax package

June 9, 2023
Ways and Means chairman unveils ‘economic growth’ tax package

June 1, 2023
Default averted as debt limit legislation clears Senate, heads to White House

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

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