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3 days 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 days 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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4 days 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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5 days 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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1 week 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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2 weeks 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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2 weeks 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.
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2 weeks ago | 
news.bloombergtax.com | Lauren Vella |Kim Dixon |Herb Jackson
Revised House Tax Bill With Raised SALT CapThe House was working toward final passage of a mammoth tax package this morning after it cleared a procedural vote around 2:40 a.m. with only one Republican—Rep. Thomas Massie (R-Ky.)—voting against it. A revised bill released Wednesday night includes a deal brokered by House Speaker Mike Johnson (R-La.) with a group of blue-state Republicans to raise the state and local tax, or SALT, deduction cap from $10,000 to $40,000 over the next decade.
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3 weeks ago | 
news.bloombergtax.com | Kim Dixon |Zach Cohen |Lauren Vella
Eyes on GOP Budget Committee VoteA plan by Republicans on the House Budget Committee to meet Friday morning to cobble together their 11 bills into the mammoth tax-and-spending package may now be delayed because of conservative opposition. The panel, made up of 21 Republicans and 16 Democrats, will be short one Republican who is on paternity leave and won’t be in attendance.
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3 weeks ago | 
news.bloomberglaw.com | Erin Schilling |Kim Dixon |Martha Mueller Neff
Beyond the headline business and individual breaks in the House Republicans’ massive tax package, the almost-400-page bill includes a slew of provisions that would affect tax-exempt entities, preparers, recording studios, and more.
