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1 week ago | 
news.bloomberglaw.com | Chris Cioffi |Kim Dixon |Martha Mueller Neff
The Republican-led Senate Finance Committee unveiled its portion of the mammoth tax-and-spending legislation that’s quickly moving through Congress, and there’s a lot to unpack. The Senate bill has dozens of differences from the House version.
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2 weeks ago | 
news.bloombergtax.com | Kim Dixon |Chris Cioffi
A New Day at the IRSAfter running through a series of acting chiefs since the start of the Trump administration, the IRS will soon have a new permanent commissioner, with the Senate voting on a party line to confirm former Rep. Billy Long (R-Mo.) to lead the embattled agency.
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2 weeks ago | 
news.bloombergtax.com | Kim Dixon |Zach Williams |Maeve Sheehey |Herb Jackson
Push for New Markets Tax CreditRenewal of the New Markets Tax Credit—a bipartisan program that’s been around for more than two decades—was left out of the House-passed version of the GOP tax bill, pushing lobbyists into overdrive. Banks, nonprofits, and community development entities are among those asking senators to add the popular credits into the bill.
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3 weeks ago | 
news.bloombergtax.com | Kim Dixon |Chris Cioffi |Lillianna Byington |Erin Schilling
Senate Republicans Dig into Tax BillSenate Republicans are set to meet Wednesday on their plans for the massive tax-and-spending package they hope to pass by July 4. Majority Whip John Barrasso (R-Wyo.) said the meeting will include various committees outlining their jurisdictions over the measure. “We’re continuing to listen to all the members,” Barrasso told reporters Tuesday.
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3 weeks ago | 
news.bloomberglaw.com | Chris Cioffi |Kim Dixon |Martha Mueller Neff
The nomination of Billy Long, President Donald Trump’s pick for IRS commissioner, advanced out of committee on a party-line vote Tuesday, overcoming objections from Democrats. The Senate Finance Committee voted 14-13 to move the former GOP congressman’s nomination to a Senate floor vote.
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3 weeks ago | 
news.bloombergtax.com | Kim Dixon |Chris Cioffi
Senate Finance to Consider Long as IRS CommissionerThe Senate Finance Committee will consider President Donald Trump’s nominee to be IRS Commissioner, former Rep. Billy Long (R-Mo.), on Tuesday morning. Republicans seemed unconcerned about issues flagged by Democrats at his confirmation hearing, including any links to tribal tax credits the Treasury and IRS have said do not exist. Long-time panel member Sen.
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3 weeks ago | 
news.bloombergtax.com | Chris Cioffi |Kim Dixon
Byrd Baths, Privilege Scrubs, and Other LessonsHouse and Senate Republicans are back in Washington Monday and will work to keep moving their $3.9 trillion tax-and-spending bill through Congress using the expedited reconciliation process. Terms like “privilege scrub” and “Byrd bath” will start popping up, as lawmakers attempt to conform the bill to the Senate’s strict rules for bypassing Democratic opposition in the chamber.
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4 weeks ago | 
news.bloomberglaw.com | Kim Dixon |Lauren Vella |Chris Cioffi
A Democrat and a Republican in the House plan to revive legislation they hope will provide tribal tax parity and close loopholes in tribal tax law, an effort that comes amid the proliferation of so-called sovereign tribal tax credits the Treasury Department and IRS say don’t exist. The Tribal Tax and Investment Reform Act, sponsored by Rep. Gwen Moore (D-Wis.) and Rep.
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1 month ago | 
news.bloombergtax.com | Kim Dixon |Chris Cioffi
Legislation Is Big Win for BusinessTax world eyes are now trained on the Senate after an early morning squeaker vote Thursday that let the House GOP pass its tax-and-spending bill. After next week’s Memorial Day recess, lawmakers will have about a month to meet their self-imposed deadline to push a bill to President Donald Trump’s desk by July 4, although some senators acknowledged that was aspirational.
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1 month ago | 
news.bloomberglaw.com | Kim Dixon |Chris Cioffi
Legislation Is Big Win for BusinessTax world eyes are now trained on the Senate after an early morning squeaker vote Thursday that let the House GOP pass its tax-and-spending bill. After next week’s Memorial Day recess, lawmakers will have about a month to meet their self-imposed deadline to push a bill to President Donald Trump’s desk by July 4, although some senators acknowledged that was aspirational.
