Caitlin Reilly

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Caitlin Reilly @reilly_cait

NEWS: GOP tax writers are looking at increasing the tax on philanthropic foundations in the budget reconciliation bill. The biggest foundations would face a 10% tax on their net investment income, under the plan which would set up a four-tiered tax bracket for philanthropies.

NEWS: GOP tax writers are looking at increasing the tax on philanthropic foundations in the budget reconciliation bill. The biggest foundations would face a 10% tax on their net investment income, under the plan which would set up a four-tiered tax bracket for philanthropies.

Ways and Means member @RepSmucker confirms GOP tax writers are working with a $4T tax instruction in mind with chances of getting $2T in spending cuts looking slim. This tightens the constraints they’re facing as they look to extend the 2017 tax breaks and enact new tax cuts.

New: Hearing from multiple sources Ways and Means is tentatively planning for next Tuesday to mark up its portion of the budget reconciliation bill. It hasn't been formally announced and with so much uncertainty around the rest of the package, this of course could change.

Now up on @rollcall: https://t.co/QhviiaS06m

Caitlin Reilly @reilly_cait

First on CQ Roll Call: @SenToddYoung and @SenCantwell are reintroducing a popular bill to expand the low-income housing tax credit, Congress' main tool for boosting housing supply. Sen. Young is looking to get key components into the GOP budget reconciliation package.

First on CQ Roll Call: @SenToddYoung and @SenCantwell are reintroducing a popular bill to expand the low-income housing tax credit, Congress' main tool for boosting housing supply. Sen. Young is looking to get key components into the GOP budget reconciliation package.

RT @Eleanor_Mueller: Any excuse to have this many of your favorite people in the same place is a good excuse 🪩 #WHCD https://t.co/ROPl4NCudU

RT @Eleanor_Mueller: 👀 Huizenga, who was at the WH yesterday with other House GOP budget holdouts, tells me & @Reilly_Cait that Johnson "in…

Rep. @DavidSchweikert says he’s “not there yet,” but sounds like he could be persuaded. He’s asking leadership for the chance to pitch the conference on his policy ideas to reduce debt and deficits over the long-term. “We’re getting there,” he said.

Caitlin Reilly @reilly_cait

Budget watch: @RepSmucker said this morning he’s still planning to vote against the resolution on the floor. @RepAndyHarrisMD said the same. House leadership can afford to lose no more than three Republicans, depending on attendance.

Budget watch: @RepSmucker said this morning he’s still planning to vote against the resolution on the floor. @RepAndyHarrisMD said the same. House leadership can afford to lose no more than three Republicans, depending on attendance.

RT @QuigleyAidan: New, from CQ’s Paul M. Krawzak: “The White House budget office has taken down its website where approvals of federal fund…

Ways and Means GOP reconciliation meeting expected to go til 8 or 9 tonight. This is how this news finds me. https://t.co/81vfRP0UXV

Treasury Secretary Scott Bessent just headed into the House GOP tax meeting. The group is working through Trump’s campaign tax cuts today for their reconciliation package, per sources.

RT @jessiehellmann: My story about how Trump is canceling LGBTQ+ research at NIH and how that's a wild departure from historical norms: h…

First on CQ Roll Call: The 32 pages of questions @SenWarren sent Michael Faulkender, who's been nominated for the number two spot at Treasury. He's testifying before Senate Finance at 10. https://t.co/GMLko29oJY