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1 week ago | 
news.bloombergtax.com | Karl Evers-Hillstrom |Olivia Gyapong |Brandon Lee |Greg Tourial
Senate committees have unveiled drafts of the sprawling budget reconciliation package that would advance President Donald Trump’s policy agenda, including extending tax cuts and boosting funds for immigration enforcement. Senate GOP leadership is aiming to bring the measure to the floor next week, with a stated goal of passing the package by July 4.
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3 weeks ago | 
news.bloombergtax.com | Brandon Lee |Karl Evers-Hillstrom |Greg Tourial |Olivia Gyapong
The House returns from its Memorial Day recess to take up legislation that would restrict Small Business Administration loans based on immigration status, close SBA offices in “sanctuary” cities, and limit the number of certified small business lending companies. The Rules Committee plans to meet Tuesday to set the terms of floor debate on those bills, as well as another measure to renew key drug overdose prevention and treatment programs. Simple majorities would be required for passage.
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3 weeks ago | 
news.bloomberglaw.com | Olivia Gyapong
The Small Business Administration would have to cap at 16 the maximum number of certified small business lending companies eligible to make 7(a) loans under H.R. 2987. The 7(a) loan program is the SBA’s primary loan program that awards eligible small businesses up to $5 million for real estate, equipment, and other expenses.
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4 weeks ago | 
news.bloombergtax.com | Olivia Gyapong
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4 weeks ago | 
news.bloomberglaw.com | Olivia Gyapong
The White House’s fiscal 2026 budget request sent to lawmakers Friday afternoon identified the 18 competitive and formula grants for K-12 education that would be consolidated into a single $2 billion state formula grant program. The earlier skinny budget had flagged a new K-12 Simplified Funding Program but hadn’t provided details about which grants would be included. States and localities would have flexibility in allocating SFP funds.
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1 month ago | 
news.bloomberglaw.com | Karl Evers-Hillstrom |Olivia Gyapong |Brandon Lee |Dan Lee |Greg Tourial
The House passed Republicans’ sweeping budget reconciliation bill early Thursday morning in a narrow 215-214 vote, advancing key Trump campaign pledges to extend tax cuts from his first term, boost immigration enforcement spending, and more. The measure (H.R. 1) would make permanent lower tax rates from Republicans’ marquee 2017 tax law (Public Law 115-97) that expire at the end of the year and add new tax breaks.
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1 month ago | 
news.bloomberglaw.com | Karl Evers-Hillstrom |Olivia Gyapong |Brandon Lee |Dan Lee |Greg Tourial
President Donald Trump’s tax, energy, immigration, defense, and health-care priorities would be enacted under House Republican’s sweeping reconciliation bill, which would use the budget process to bypass Democratic opposition in the Senate. The measure would make permanent lower tax rates from Republicans’ marquee 2017 tax law (Public Law 115-97) that expire at the end of the year and add new tax breaks for seniors and tipped and overtime wages.
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1 month ago | 
news.bloombergtax.com | Dan Lee |Olivia Gyapong |Brandon Lee |Greg Tourial
Law enforcement-related measures to mark National Police Week are set for House votes this week, including bills that would allow officers to carry concealed firearms in more locations and to buy surplus firearms from the federal government. The Rules Committee will meet tomorrow to set the terms of floor debate on those bills and another requiring the Justice Department to report on incidents against officers. A simple majority would be needed to pass the measures.
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1 month ago | 
news.bloombergtax.com | Karl Evers-Hillstrom |Olivia Gyapong |Brandon Lee |Dan Lee |Greg Tourial
The House Natural Resources Committee approved its portion of Republicans’ sweeping budget reconciliation bill this week, bringing the number of pieces approved to eight. Still, some of the trickiest parts remain. The Agriculture, Energy and Commerce, and Ways and Means panels have yet to act on their measures, which include the bulk of targeted spending cuts and tax changes. Download the BGOV Reconciliation Update for May 7Republican leaders are aiming to clear the measure for Trump by July 4.
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1 month ago | 
news.bloomberglaw.com | Karl Evers-Hillstrom |Olivia Gyapong |Brandon Lee |Dan Lee |Greg Tourial
The House is set to vote on a series of foreign policy measures, including bills to rename the Gulf of Mexico to the “Gulf of America” in federal law and cut off Department of Homeland Security funding to higher education institutions with ties to Chinese entities. The House Rules Committee will meet today to set the terms of floor debate on those bills, which require a simple majority to pass.
