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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.
March 22, 2024
Wyden presses his case for bipartisan tax package as Finance Committee debates White House FY 2025 budget blueprint
Warning that “the clock is ticking down,” Senate Finance Committee Chairman Ron Wyden continued his push for Senate action on a $78 billion bipartisan package of business- and family-focused tax relief provisions during a committee hearing to discuss President Biden’s fiscal year 2025 budget proposal with Treasury Secretary Janet Yellen.
At long last, lawmakers poised to finish business on FY 2024 appropriations
The House passed the second and final set of six-bill “minibus” appropriations measures for fiscal year 2024, but it was unclear at press time whether the Senate would have enough time to approve it before midnight on March 22 (when a stopgap measure providing funding for the federal departments and agencies covered under the package is set to expire) and avoid a brief lapse in funding.
CBO: Long-term budget outlook remains bleak
The nonpartisan Congressional Budget Office released an update of its Long-Term Budget Outlook, which continues to paint a sobering picture of the nation’s projected fiscal condition over the next 30 years.
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March 15, 2024
Wyden, Crapo still at odds over bipartisan tax package as Finance Committee debates manufacturing tax incentives
March 12, 2024 (Special Edition)
Biden doubles down on corporate, high-wealth tax increases in FY 2025 budget blueprint
March 11, 2024 (Special Edition)
White House releases FY 2025 budget proposal, ‘Green Book’
March 8, 2024
Biden renews calls for corporate, high-wealth tax increases in State of the Union address
March 1, 2024
Bipartisan tax deal still sidelined as Congress punts spending deadlines further into March
February 16, 2024
SALT relief fizzles in the House; bipartisan tax relief bill still stuck in the Senate
February 9, 2024
Bipartisan tax package in limbo in the Senate; SALT relief held up in the House
February 2, 2024
Bipartisan tax bill clears House, but Senate prospects remain uncertain
January 26, 202
4Johnson preps for post-recess House vote on Smith-Wyden tax package
January 19, 2024
Bipartisan tax deal clears Ways and Means; March funding bill emerges as possible legislative vehicle
January 16, 2024 (Special Edition)
Smith-Wyden tax package includes business tax relief, child tax credit enhancements, and more
January 12, 2024
Some progress on tax deal, government funding pact, but challenges remain
December 21, 2023 (Special Edition)
JCT releases Blue Book for tax legislation enacted in the 117th Congress
December 15, 2023
Potential tax accord punted to 2024 as House adjourns for the holiday, Senate poised to follow suit
December 8, 2023
No apparent progress on near-term tax bill as end of legislative session approaches
December 1, 2023
Third-party payment processors and recipients get extra year of relief from stricter information reporting requirements
November 17, 2023
Government shutdown averted as ‘laddered’ stopgap spending measure is signed into law
November 10, 2023
House GOP struggles to find a path on appropriations as shutdown deadline looms
November 3, 2023
Democrats blast House-passed bill that cuts IRS funding to pay for Israel assistance
October 27, 2023
House back in business as Johnson claims speaker’s gavel
October 20, 2023
House still paralyzed as Jordan fails to clinch speaker’s gavel and GOP blocks temporary plan to resume business
October 13, 2023
Scalise wins House speaker nomination, but drops out after the gavel proves elusive
October 6, 2023
Short-term funding patch averts government shutdown but triggers McCarthy’s ouster as speaker