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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 [email protected].
August 2, 2024
Senate sinks procedural motion on Smith-Wyden tax bill, leaves for August recess
In its last major act before departing Washington for a five-week summer recess, the Senate voted down a procedural motion to advance bipartisan tax legislation crafted by House Ways and Means Committee Chairman Jason Smith and Senate Finance Committee Chairman Ron Wyden that would, among other things, provide temporary tax relief to businesses and short-term enhancements to the child tax credit.
Senate appropriators OK $12.3 billion FY 2025 IRS budget, setting up funding fight with House
The Senate Appropriations Committee approved a Financial Services and General Government funding measure that would provide the IRS a discretionary budget of $12.3 billion for FY 2025—an amount that’s unchanged from the current funding level and equal to the Biden administration’s request for the agency in the tax-and-spending blueprint it sent to Congress in March, but $2.2 billion more than what House appropriators agreed to in funding legislation that they approved in June.
Another Tax Court nominee heads to the bench
The Senate confirmed Adam Landy for a 15-year term as a judge on the US Tax Court, just four days after sending another nominee to the bench.
Senate taxwriters mull economic development tax incentives ahead of pending expirations
Ahead of the debate expected in the next Congress as many of the tax code changes enacted in the Tax Cuts and Jobs Act of 2017 are due to sunset, members of the Senate Finance Committee held a hearing to consider the most effective ways to use the code to promote economic development.
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July 26, 2024
No apparent signs of life for Smith-Wyden tax bill as Senate lurches toward August recess
July 12, 2024
House taxwriters OK measures to rescind EV credit regs, penalize universities, expand section 529 plans
June 28, 2024
No new tax policy insights from first presidential debate
June 21, 2024
CBO ramps up deficit projections in latest budget and economic outlook
June 14, 2024
House appropriators OK pared-down FY 2025 IRS budget proposal without further mandatory funding rescissions
June 7, 2024
House Appropriations panel OKs $2.2 billion IRS budget cut for FY 2025
May 24, 2024
House passes tax package offering relief to disaster victims, but Wyden vows to block quick Senate action
May 17, 2024
Five-year FAA reauthorization—with no amendments—heads to the White House
May 10, 2024
Senate passes five-year FAA reauthorization measure; House expected to follow suit next week
May 3, 2024
TCJA, Pillar Two, Inflation Reduction Act dominate discussion at Ways and Means hearing on White House budget plan
April 19, 2024
Filing season’s over but Wyden’s still committed to bipartisan tax package
April 12, 2024
Bipartisan tax package remains stuck in the Senate
March 22, 2024
Wyden presses his case for bipartisan tax package as Finance Committee debates White House FY 2025 budget blueprint
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
