Congress returns from summer recess for a pre-election session focused on passing a continuing resolution to fund the government through September 30th and additional funding to combat the Zika virus. The session is expected to be short with little other legislation passed due to the pre-election environment. Both chambers will also discuss tax reform proposals and other health and regulatory issues. The House may consider several bills aimed at reducing regulations before adjourning in late September, while the Senate may take up water resources legislation.
The House will meet on Monday and Tuesday to consider several pieces of legislation under suspension of the rules, with no votes expected. The Senate will resume consideration of the National Defense Authorization Act. The White House proposed a fiscal cliff deal including $1.6 trillion in tax increases and $600 billion in entitlement cuts, but Republicans rejected it as a non-starter due to high tax increases and insufficient entitlement reform details. Negotiations appear stalled as both sides hold firm in their positions on taxes and spending.
Health Care Legislative Roundup: February 2017ConnectYourCare
This presentation from ConnectYourCare spotlights recent legislative news and regulations impacting health benefits. This presentation covers:
- Legislation to Repeal HSA, FSA Restrictions on OTC Drug Purchases Introduced in Congress
- Confirmation of Rep. Tom Price (R-GA) as Secretary of Health and Human Services
- Republicans Targeting March or April to Advance Affordable Care Act (ACA) Replacement Measure
- ACA Repeal Bill Options
- President Trump and the Fiduciary Rule
- Executive Orders Impacting Regulations
Please Note: ConnectYourCare does not provide tax or legal advice. This information is not intended and should not be taken as tax or legal advice. Any tax or legal information in this notice is merely a summary of ConnectYourCare's understanding and interpretation of some of the current regulations and is not exhaustive. You should consult your tax advisor or legal counsel for advice and information concerning your particular situation before making any decisions.
Deficit-Financed Extension of Research Tax Credits Gets Nod from HouseCBIZ, Inc.
Several days of hotly contested debate over legislation that would make the Code Sec. 41 research tax credit permanent gave way to a bipartisan vote for House passage on May 9. House lawmakers approved the American Research and Competitiveness Bill of 2014 (HR 4438) over the objections of Democratic leaders, who faulted the bill because its 10-year cost of $155.5 billion will be added to the federal deficit.
Administrative law is law created by executive branch agencies and departments through rulemaking. Congress delegates lawmaking authority to agencies through statutes, allowing agencies to engage in regulatory lawmaking. Agencies follow a rulemaking process that is documented in the Federal Register to create regulations. The Federal Register publishes proposed and final rules and regulations from agencies daily. The Code of Federal Regulations is the codification of final agency rules, organized by subject into 50 titles and updated annually. Regulations.gov allows the public to search and comment on federal regulations online.
The document discusses healthcare issues facing Congress in the lame duck session and priorities for 2017. In the lame duck session, Congress needs to pass appropriations bills by December 9th and will likely hold hearings on prescription drug prices and ACA insurance issues but take no real action. For 2017, repealing and replacing the ACA will be a top priority, with the House potentially passing a full repeal and the Senate pursuing replacement options using reconciliation. Key replacement concepts include expanding HSAs and allowing interstate insurance sales.
The House and Senate will consider several bills this week related to energy, including a bill to approve construction of the Keystone XL pipeline. The Senate Energy Committee will consider President Obama's nomination of Ernest Moniz for Secretary of Energy. Regulatory agencies will hold meetings on issues including offshore safety, smart grids, and hydraulic fracturing research. The State Department will hold a public meeting to discuss the draft supplemental environmental impact statement for the Keystone XL pipeline.
This document provides an overview of the LobbyTools legislative research, tracking, news and analysis service for Florida. It summarizes the main features including legislative research tools to find and track bills, committees and legislators. It also describes legislative tracking folders to organize bills, calendar features, custom reports, news and media monitoring, and tips for getting the most out of the LobbyTools service.
Texas Legislative Update Presentation by Robert Pinhero of TANOGreenlights
The summary provides an overview of key bills and issues affecting nonprofits that were addressed by the Texas legislature in 2011:
- The legislature passed a bill continuing the state's nonprofit capacity-building task force and expanded its membership.
- Proposed bills that did not pass would have expanded the Attorney General's investigatory powers over nonprofits and implemented "PILOT" fees for nonprofits.
- Passed bills protected free speech rights of advocacy groups, limited disclosures required of nonprofits contracting with the state, and clarified regulations for food sales at nonprofit events.
The House will meet on Monday and Tuesday to consider several pieces of legislation under suspension of the rules, with no votes expected. The Senate will resume consideration of the National Defense Authorization Act. The White House proposed a fiscal cliff deal including $1.6 trillion in tax increases and $600 billion in entitlement cuts, but Republicans rejected it as a non-starter due to high tax increases and insufficient entitlement reform details. Negotiations appear stalled as both sides hold firm in their positions on taxes and spending.
Health Care Legislative Roundup: February 2017ConnectYourCare
This presentation from ConnectYourCare spotlights recent legislative news and regulations impacting health benefits. This presentation covers:
- Legislation to Repeal HSA, FSA Restrictions on OTC Drug Purchases Introduced in Congress
- Confirmation of Rep. Tom Price (R-GA) as Secretary of Health and Human Services
- Republicans Targeting March or April to Advance Affordable Care Act (ACA) Replacement Measure
- ACA Repeal Bill Options
- President Trump and the Fiduciary Rule
- Executive Orders Impacting Regulations
Please Note: ConnectYourCare does not provide tax or legal advice. This information is not intended and should not be taken as tax or legal advice. Any tax or legal information in this notice is merely a summary of ConnectYourCare's understanding and interpretation of some of the current regulations and is not exhaustive. You should consult your tax advisor or legal counsel for advice and information concerning your particular situation before making any decisions.
Deficit-Financed Extension of Research Tax Credits Gets Nod from HouseCBIZ, Inc.
Several days of hotly contested debate over legislation that would make the Code Sec. 41 research tax credit permanent gave way to a bipartisan vote for House passage on May 9. House lawmakers approved the American Research and Competitiveness Bill of 2014 (HR 4438) over the objections of Democratic leaders, who faulted the bill because its 10-year cost of $155.5 billion will be added to the federal deficit.
Administrative law is law created by executive branch agencies and departments through rulemaking. Congress delegates lawmaking authority to agencies through statutes, allowing agencies to engage in regulatory lawmaking. Agencies follow a rulemaking process that is documented in the Federal Register to create regulations. The Federal Register publishes proposed and final rules and regulations from agencies daily. The Code of Federal Regulations is the codification of final agency rules, organized by subject into 50 titles and updated annually. Regulations.gov allows the public to search and comment on federal regulations online.
The document discusses healthcare issues facing Congress in the lame duck session and priorities for 2017. In the lame duck session, Congress needs to pass appropriations bills by December 9th and will likely hold hearings on prescription drug prices and ACA insurance issues but take no real action. For 2017, repealing and replacing the ACA will be a top priority, with the House potentially passing a full repeal and the Senate pursuing replacement options using reconciliation. Key replacement concepts include expanding HSAs and allowing interstate insurance sales.
The House and Senate will consider several bills this week related to energy, including a bill to approve construction of the Keystone XL pipeline. The Senate Energy Committee will consider President Obama's nomination of Ernest Moniz for Secretary of Energy. Regulatory agencies will hold meetings on issues including offshore safety, smart grids, and hydraulic fracturing research. The State Department will hold a public meeting to discuss the draft supplemental environmental impact statement for the Keystone XL pipeline.
This document provides an overview of the LobbyTools legislative research, tracking, news and analysis service for Florida. It summarizes the main features including legislative research tools to find and track bills, committees and legislators. It also describes legislative tracking folders to organize bills, calendar features, custom reports, news and media monitoring, and tips for getting the most out of the LobbyTools service.
Texas Legislative Update Presentation by Robert Pinhero of TANOGreenlights
The summary provides an overview of key bills and issues affecting nonprofits that were addressed by the Texas legislature in 2011:
- The legislature passed a bill continuing the state's nonprofit capacity-building task force and expanded its membership.
- Proposed bills that did not pass would have expanded the Attorney General's investigatory powers over nonprofits and implemented "PILOT" fees for nonprofits.
- Passed bills protected free speech rights of advocacy groups, limited disclosures required of nonprofits contracting with the state, and clarified regulations for food sales at nonprofit events.
The House document provides information on upcoming legislative business for the week of September 17th. It details bills that will be considered under suspension of the rules in the House on September 19th covering various topics like veterans affairs, taxes, and border security. It also lists bills that will be considered in the House on September 20-21st and in the Senate on September 17th, including a continuing resolution to fund the government.
Tracking legislation enables organizations to limit their
exposure to such costs. With early notification of
emerging measures, organizations can have an impact
on the legislative process well before those measures
become law and related rules are adopted.
The House will meet today in a pro forma session with no votes expected. On Tuesday and Wednesday, the House will consider several bills under suspension of the rules and on the House floor. The Senate will consider executive nominations today and a continuing resolution this week that may include some appropriations bills. Hearings are scheduled in both the House and Senate on various topics including cybersecurity, education, defense, and immigration.
The document summarizes discussions from a House-Senate conference on the Comprehensive Addiction and Recovery Act (CARA) legislation to address the opioid epidemic. Democrats pushed for funding to be included but Republicans highlighted recent funding increases. Amendments were considered and some passed both chambers while others only passed the Senate. Democrats' amendments to add funding were not accepted. The final conference report was signed by Republican conferees and will address efforts to curb the growing opioid crisis.
Legislative Summary – Saturday, March 21, 2015TimeZoneReport
A comprehensive summary of legislation relating to Daylight Saving Time including 31 bills in 21 states:
Alabama, Alaska, Arizona, Arkansas, Florida, Idaho, Illinois, Iowa, Kansas, Massachusetts, Mississippi, Missouri, Nevada, New Mexico, Oregon, Pennsylvania, South Dakota, Texas, Utah, and Washington.
This document analyzes how judicial rulings regarding Exemption 1 of the Freedom of Information Act have affected journalists' ability to obtain government documents over the past decade. It finds that while more FOIA requests are being approved initially by agencies, success rates in lawsuits have declined from 7.7% in 2008 to 6.2% in 2014. Exemption 1, involving national security, continues to be frequently claimed and rarely overturned by courts. However, a few notable cases found in favor of transparency, like the New York Times obtaining drone targeting documents. Overall, journalists still face challenges in litigation but some progress has been made in initial request approvals.
Senate Finance Committee Asks Members to Communicate Tax Reform PrioritiesPatton Boggs LLP
The Senate Finance Committee is asking Senators to submit proposals by July 26th detailing which tax expenditures should be maintained, repealed, or added as part of tax reform efforts. The Committee intends to take a "blank slate" approach and eliminate all special tax provisions unless there is clear evidence they help the economy, make the tax code fairer, or promote other policy objectives. Both the Senate Finance Committee and House Ways and Means Committee are committed to fundamental tax reform legislation within the next year before certain Chairmen leave their positions.
When Will Joe Biden Legalize Marijuana in America?Evergreen Buzz
Joe Biden is not moving quick, read this https://cannabis.net/blog/news/joe-biden-has-been-president-for-299-days-and-cannabis-is-still-not-federally-legal
Legal Research For The Legal Assistant How To Find Regulations (Federal & New...Jeh718
This document provides information on finding and researching regulations at the federal and New York state levels. It discusses that regulations are created by executive agencies to enforce statutes and are published in the Federal Register on a daily basis and compiled annually in the Code of Federal Regulations. For federal regulations, the summary outlines key sources like the Federal Register website, Regulations.gov and various commercial databases. For New York, it outlines the New York State Register and the Official Compilation of Codes Rules and Regulations of New York State.
The Senate will convene on January 28 at 2:00 p.m. to begin consideration of the Hurricane Sandy Emergency Supplemental Appropriations bill. The House will meet in a pro forma session on January 29 at 1:00 p.m. The document also provides updates on legislative activities related to the farm bill, SNAP funding, immigration reform, and commodity futures trading, as well as an upcoming hearing on reauthorizing the Commodity Futures Trading Commission. It includes contact information for questions.
An analytical paper, prepared by IFES in cooperation with Center of Policy and Legal Reform, Chesno Civic Movement and the Committee of Voters of Ukraine.
The people are the only legitimate foundation of power, and it is from them that the constitutional charter ... is derived. Government is and should be the servant of the people, and it should be fully accountable to them for the actions which it supposedly takes on their behalf.
This document outlines key concepts regarding the constitutional grounds for regulating business in the United States. It discusses the separation of powers and checks and balances in the US system of government. It also covers federalism and the balance of power between the federal and state governments. Specifically, it examines the commerce clause and how it allows the federal government to regulate interstate business activities. It analyzes limitations on government power through protections like freedom of speech, due process, equal protection, and prohibitions against unlawful takings of private property.
This document provides an overview of locating legal information online. It begins with an introduction to the US legal system, including the different types of primary legal authority such as constitutions, statutes, regulations, and court cases. It then discusses typical legal information requests received by public libraries and what librarians can and cannot do to help patrons. The document concludes by explaining how to identify documents using citations and provides examples of starting points and websites for retrieving various types of legal information online, such as statutes, cases, and regulations.
This memorandum from the Office of Management and Budget provides clarifying guidance on the Paperwork Reduction Act in order to increase transparency and openness in government information collection. It summarizes the key requirements of the Act, including that agencies must seek public comment on proposed collections and get OMB approval. It defines what types of information and collections are and are not covered by the Act. The goal is to specify the central requirements of the Act and clarify policies to promote greater openness.
The document summarizes the House and Senate schedules and legislative activities for the week of April 15, 2013. The House will consider several bills under suspension of the rules related to government oversight and accountability. The Senate will discuss immigration reform and hold hearings on the issue. Both chambers will hold hearings on the FY2014 budgets for various federal agencies as they begin the appropriations process.
Este documento contiene tres hojas de registro de una carrera continua de 5 minutos cada una. En la primera hoja, la persona informa de una frecuencia cardíaca de 140-150 pulsaciones por minuto y sensaciones de fatiga general y dolor en las piernas. En la segunda hoja, la frecuencia cardíaca aumenta a 150-160, con fatiga general, dolor en las piernas y hombro izquierdo. En la tercera hoja, la frecuencia cardíaca es de 160-170, con fatiga general, dolor en las piernas y garganta, y
A brief presentation about three clusters that are focused on the development of new designers and organizations. These clusters focus on the incubator stage.
This document announces workshops to help students complete drafts of their teacher websites and e-portfolios by an upcoming deadline. It provides checklists for students to use to review and clean up their website and e-portfolio pages. Students are instructed to open the checklists and go over their pages, making any necessary revisions before the next class, which will include a peer-review activity to provide feedback on the drafts.
The House document provides information on upcoming legislative business for the week of September 17th. It details bills that will be considered under suspension of the rules in the House on September 19th covering various topics like veterans affairs, taxes, and border security. It also lists bills that will be considered in the House on September 20-21st and in the Senate on September 17th, including a continuing resolution to fund the government.
Tracking legislation enables organizations to limit their
exposure to such costs. With early notification of
emerging measures, organizations can have an impact
on the legislative process well before those measures
become law and related rules are adopted.
The House will meet today in a pro forma session with no votes expected. On Tuesday and Wednesday, the House will consider several bills under suspension of the rules and on the House floor. The Senate will consider executive nominations today and a continuing resolution this week that may include some appropriations bills. Hearings are scheduled in both the House and Senate on various topics including cybersecurity, education, defense, and immigration.
The document summarizes discussions from a House-Senate conference on the Comprehensive Addiction and Recovery Act (CARA) legislation to address the opioid epidemic. Democrats pushed for funding to be included but Republicans highlighted recent funding increases. Amendments were considered and some passed both chambers while others only passed the Senate. Democrats' amendments to add funding were not accepted. The final conference report was signed by Republican conferees and will address efforts to curb the growing opioid crisis.
Legislative Summary – Saturday, March 21, 2015TimeZoneReport
A comprehensive summary of legislation relating to Daylight Saving Time including 31 bills in 21 states:
Alabama, Alaska, Arizona, Arkansas, Florida, Idaho, Illinois, Iowa, Kansas, Massachusetts, Mississippi, Missouri, Nevada, New Mexico, Oregon, Pennsylvania, South Dakota, Texas, Utah, and Washington.
This document analyzes how judicial rulings regarding Exemption 1 of the Freedom of Information Act have affected journalists' ability to obtain government documents over the past decade. It finds that while more FOIA requests are being approved initially by agencies, success rates in lawsuits have declined from 7.7% in 2008 to 6.2% in 2014. Exemption 1, involving national security, continues to be frequently claimed and rarely overturned by courts. However, a few notable cases found in favor of transparency, like the New York Times obtaining drone targeting documents. Overall, journalists still face challenges in litigation but some progress has been made in initial request approvals.
Senate Finance Committee Asks Members to Communicate Tax Reform PrioritiesPatton Boggs LLP
The Senate Finance Committee is asking Senators to submit proposals by July 26th detailing which tax expenditures should be maintained, repealed, or added as part of tax reform efforts. The Committee intends to take a "blank slate" approach and eliminate all special tax provisions unless there is clear evidence they help the economy, make the tax code fairer, or promote other policy objectives. Both the Senate Finance Committee and House Ways and Means Committee are committed to fundamental tax reform legislation within the next year before certain Chairmen leave their positions.
When Will Joe Biden Legalize Marijuana in America?Evergreen Buzz
Joe Biden is not moving quick, read this https://cannabis.net/blog/news/joe-biden-has-been-president-for-299-days-and-cannabis-is-still-not-federally-legal
Legal Research For The Legal Assistant How To Find Regulations (Federal & New...Jeh718
This document provides information on finding and researching regulations at the federal and New York state levels. It discusses that regulations are created by executive agencies to enforce statutes and are published in the Federal Register on a daily basis and compiled annually in the Code of Federal Regulations. For federal regulations, the summary outlines key sources like the Federal Register website, Regulations.gov and various commercial databases. For New York, it outlines the New York State Register and the Official Compilation of Codes Rules and Regulations of New York State.
The Senate will convene on January 28 at 2:00 p.m. to begin consideration of the Hurricane Sandy Emergency Supplemental Appropriations bill. The House will meet in a pro forma session on January 29 at 1:00 p.m. The document also provides updates on legislative activities related to the farm bill, SNAP funding, immigration reform, and commodity futures trading, as well as an upcoming hearing on reauthorizing the Commodity Futures Trading Commission. It includes contact information for questions.
An analytical paper, prepared by IFES in cooperation with Center of Policy and Legal Reform, Chesno Civic Movement and the Committee of Voters of Ukraine.
The people are the only legitimate foundation of power, and it is from them that the constitutional charter ... is derived. Government is and should be the servant of the people, and it should be fully accountable to them for the actions which it supposedly takes on their behalf.
This document outlines key concepts regarding the constitutional grounds for regulating business in the United States. It discusses the separation of powers and checks and balances in the US system of government. It also covers federalism and the balance of power between the federal and state governments. Specifically, it examines the commerce clause and how it allows the federal government to regulate interstate business activities. It analyzes limitations on government power through protections like freedom of speech, due process, equal protection, and prohibitions against unlawful takings of private property.
This document provides an overview of locating legal information online. It begins with an introduction to the US legal system, including the different types of primary legal authority such as constitutions, statutes, regulations, and court cases. It then discusses typical legal information requests received by public libraries and what librarians can and cannot do to help patrons. The document concludes by explaining how to identify documents using citations and provides examples of starting points and websites for retrieving various types of legal information online, such as statutes, cases, and regulations.
This memorandum from the Office of Management and Budget provides clarifying guidance on the Paperwork Reduction Act in order to increase transparency and openness in government information collection. It summarizes the key requirements of the Act, including that agencies must seek public comment on proposed collections and get OMB approval. It defines what types of information and collections are and are not covered by the Act. The goal is to specify the central requirements of the Act and clarify policies to promote greater openness.
The document summarizes the House and Senate schedules and legislative activities for the week of April 15, 2013. The House will consider several bills under suspension of the rules related to government oversight and accountability. The Senate will discuss immigration reform and hold hearings on the issue. Both chambers will hold hearings on the FY2014 budgets for various federal agencies as they begin the appropriations process.
Este documento contiene tres hojas de registro de una carrera continua de 5 minutos cada una. En la primera hoja, la persona informa de una frecuencia cardíaca de 140-150 pulsaciones por minuto y sensaciones de fatiga general y dolor en las piernas. En la segunda hoja, la frecuencia cardíaca aumenta a 150-160, con fatiga general, dolor en las piernas y hombro izquierdo. En la tercera hoja, la frecuencia cardíaca es de 160-170, con fatiga general, dolor en las piernas y garganta, y
A brief presentation about three clusters that are focused on the development of new designers and organizations. These clusters focus on the incubator stage.
This document announces workshops to help students complete drafts of their teacher websites and e-portfolios by an upcoming deadline. It provides checklists for students to use to review and clean up their website and e-portfolio pages. Students are instructed to open the checklists and go over their pages, making any necessary revisions before the next class, which will include a peer-review activity to provide feedback on the drafts.
Este documento registra las pulsaciones por minuto de un alumno durante un ejercicio de farlek que consistió en una vuelta completa e hizo 10 diagonales. Se midieron las pulsaciones del alumno durante cada diagonal y en los minutos posteriores para medir su recuperación.
This document discusses different aspects of communication including what is said, how it is said, and implicit and explicit rules. It also mentions that communication models have evolved over time from action to interaction to transaction, focusing more on the relationship between communicators.
This document summarizes an experiment that investigated the diversity of bacterial colonies found in pools at different altitudes on Mount Arabia. Samples were collected from 12 pools at varying altitudes and plated. The diversity of colonies from each pool was then analyzed based on characteristics like shape, color, and motility. Overall, the results showed that pools at higher altitudes contained a greater variety of bacterial colony characteristics compared to those at lower altitudes, though the average number of colonies was higher in the higher altitude pools. This provides evidence that altitude may influence bacterial diversity in these environments.
Por medio de la cual se modifica parcialmente Resolución 051 del 12 de marzo del 2012 mediante la cual se crea el Comité de Conciliación y Defensa Jurídica en el municipio de Santa Fe de Antioquia y se adicionan unos artículos
The document provides an introduction to copyright principles and subject matter. It discusses that copyright protects original creative works fixed in a tangible form. Copyrightable works include literary works, musical works, dramatic works, pantomimes, choreographic works, pictorial/graphic/sculptural works, motion pictures, sound recordings, and architectural works. The rights afforded to copyright owners are the exclusive rights to reproduce, distribute, publicly perform, publicly display, and create derivative works of the copyrighted material.
A short highlight on the topic "Biochemistry Of Diseases". Our Biochemistry teacher set discussion questions and one was "All diseases have biochemical basis, discuss" Hence I came with these outlines for my presentation on the topic.
The House will meet this week to consider several bills under suspension of the rules, including ones relating to flood insurance, the FHA, and permitting candidates to designate funds disbursers after death. The Senate will consider the nomination of Stephanie Rose to be a circuit court judge. Congress has agreed to a 6-month continuing resolution to fund the government through March 2013 at current spending levels to avoid a pre-election fiscal showdown. The Obama administration is expected to issue an executive order on cybersecurity given Congress's failure to pass legislation on the issue.
The summary provides the following key points in 3 sentences:
The House will consider several bills under suspension of the rules on Monday and Tuesday, including bills related to natural gas pipelines in national parks and the redesignation of federal aeronautical facilities. The Senate will consider an emergency supplemental appropriations bill on Monday to provide $60.4 billion in disaster aid. The House schedule for the rest of the week includes consideration of various bills related to small businesses, Medicare, defense authorization, and intercountry adoptions.
The document provides information on legislative activities for the week of July 9, 2012. It summarizes bills scheduled for consideration in the House and Senate that week related to veterans, the farm bill, appropriations, cybersecurity, and education issues. It also outlines regulatory actions and hearings scheduled related to education issues like No Child Left Behind waivers and the gainful employment ruling.
The House will meet today to consider legislation allowing the use of Capitol grounds for memorial events and postponing votes until 6:30pm. On Tuesday and the rest of the week, the House will consider the FY2014 budget and funding committee expenses. The Senate will continue considering the FY2013 continuing resolution to fund the government through September, aiming to send an amended bill back to the House this week before recess.
The document provides details on legislative activities scheduled for the House and Senate for the current week. It summarizes bills under consideration, including continuing appropriations legislation, and budget resolutions expected to be debated.
The House will meet on February 4th to consider three bills under suspension of the rules. Votes will be postponed until 6:30pm. The Senate will meet to resume consideration of the Violence Against Women Act. The document also provides summaries of legislative activity regarding the debt ceiling, immigration reform, competitive foods regulations, the federal budget and sequestration, cybersecurity, and energy taxes and regulatory hearings.
Week 2 DQPolicy and Legislation Examples.docxcelenarouzie
This document provides examples of federal policies and legislation to illustrate how federalism plays a role. It lists several major federal acts like the Controlled Substance Act, Gun Control Act, Every Student Succeeds Act, Civil Rights Act, Higher Education Act, Affordable Care Act, and Lilly Ledbetter Fair Pay Act. It notes the federal agency responsible for upholding or enforcing each one. It also provides context on federalism being covered in the textbook and guidance videos for the class. The document aims to help students select a policy or legislation for a discussion assignment and final paper that must address federalism.
The budget conference committee will negotiate differences between the House and Senate budget resolutions to produce a unified concurrent budget resolution. The committee consists of 30 lawmakers from both chambers. They must agree on top-line spending levels, revenue estimates, and any policy directives. If approved by both chambers, the concurrent resolution establishes guidelines for subsequent appropriations bills but does not enact binding policies or law changes. The last time a budget conference produced a concurrent resolution was in 2009.
The document summarizes legislative activity in Congress during the week leading up to Christmas regarding the fiscal cliff negotiations and other issues. It notes that the House pulled a tax bill from consideration due to lack of Republican support. It also discusses upcoming Senate sessions and the President calling for a tax cut extension for those under $200k/$250k. Other topics covered include agriculture, appropriations, energy, and financial services.
CSI 2008, Legal Developments In Security and Privacy Law padler01
The document provides an overview of key developments in security and privacy law from November 2007 to November 2008. It discusses new and proposed federal and state legislation, federal agency rules and guidelines, and agency enforcement actions related to data security and privacy. Key topics covered include proposed amendments to regulations, new data breach notification laws in many states, and emerging state laws requiring businesses to implement data security programs.
The document discusses recent legislative activity in Congress and regulatory actions by federal agencies. It covers topics such as the fiscal cliff negotiations, defense appropriations, agriculture issues including a potential one-year farm bill extension, education reforms, and energy policies including a natural gas export study. Upcoming hearings are also noted on various topics.
The House will consider several bills under suspension of rules on Tuesday, July 17, including bills on levee construction, terrorist designations, foreign aid appropriations, US-Israel security cooperation, and insular areas. On Wednesday and the rest of the week, the House will consider bills on sequestration transparency and Department of Defense appropriations. The Senate will consider the nomination of a federal judge on Monday and is scheduled to discuss protecting the electric grid from cyberattacks on Tuesday.
What Congress has to get done before Dec 31st 2014 Votetocracy
Contains a detailed review of what Congress has to get done by the end of 2014. Including deadline driven legislation and critical issues such as ISIS, Minimum Wage, Ban on Internet Taxes, Ukraine, Border Control and more.
House Passes Permanent Bonus Depreciation ProvisionCBIZ, Inc.
On July 11, the U.S. House of Representatives passed a bill to restore and make permanent the 50 percent bonus depreciation provision. The vote was 258-160, largely along party lines, with only 34 Democrats voting for the bill and two Republicans voting against it.
The document discusses the impacts of the Affordable Care Act (ACA) on rural America. It provides background on the National Rural Health Association and their role advocating for rural issues. It then summarizes the legal challenges to the ACA and the Supreme Court ruling in 2012 that upheld the individual mandate while limiting Medicaid expansion. The ruling determined Congress can use taxing powers to influence state programs but cannot take away all existing Medicaid funding from states that do not comply with the ACA's Medicaid provisions.
- The 132nd Ohio General Assembly began on Tuesday with new and returning members taking their oaths of office. Two new members, Rep. Dave Greenspan and Rep. Scott Wiggam, have prior experience as county officials.
- Legislative leaders from both chambers emphasized the importance of bipartisan cooperation to address issues and move the state forward. Lawmakers will focus on the upcoming biennial budget in the coming months.
- Governor Kasich vetoed sales tax exemptions included in SB 235 for oil and gas companies and digital jukeboxes, which would have cost state and local governments over $264 million in revenue. This issue and disagreements over severance taxes will likely continue into budget discussions.
The Senate passed the House-amended version of the Stop Trading on Congressional Knowledge (STOCK) Act by unanimous consent. The legislation prohibits members of Congress and federal employees from trading stocks based on non-public information and requires reporting of certain financial transactions. It will now be sent to the President to be signed into law. The act was introduced following allegations that Congressional members profited from insider trading, and creates new fiduciary duties and restrictions for federal employees.
The Congress has recessed for Thanksgiving and is considering whether to pass a five-year Farm Bill or one-year extension during the lame duck session. The Senate Agriculture Committee leadership is also in flux as Senator Cochran reaches out to replace Senator Roberts as Ranking Member. Additionally, the EPA denied waivers to the Renewable Fuel Standard despite recognizing economic hardships caused by drought.
Mercer Capital's Value Matters™ | Issue No. 3, 2021 Mercer Capital
Mercer Capital's Value Matters™, published 6 times per year, addresses gift & estate tax, ESOP, buy-sell agreement, and transaction advisory topics of interest to estate planners and other professional advisors to business.
The document discusses recent developments in tax reform efforts. It notes that Senate Finance Committee tax reform working groups are nearing their deadline to report recommendations to the full committee. There is growing support among lawmakers for a "patent box" tax regime to encourage domestic intellectual property activity. However, concerns remain about potential costs and overlaps with the research and development tax credit. Lawmakers are also working on short-term extensions of highway funding and tax extenders as broader tax reform efforts continue.
The Biggest Threat to Western Civilization _ Andy Blumenthal _ The Blogs.pdfAndy (Avraham) Blumenthal
Article in The Times of Israel by Andy Blumenthal: China and Russia are commonly considered the biggest military threats to Western civilization, but I believe that is incorrect. The biggest strategic threat is a terrorist Jihadi Caliphate.
Essential Tools for Modern PR Business .pptxPragencyuk
Discover the essential tools and strategies for modern PR business success. Learn how to craft compelling news releases, leverage press release sites and news wires, stay updated with PR news, and integrate effective PR practices to enhance your brand's visibility and credibility. Elevate your PR efforts with our comprehensive guide.
Youngest c m in India- Pema Khandu BiographyVoterMood
Pema Khandu, born on August 21, 1979, is an Indian politician and the Chief Minister of Arunachal Pradesh. He is the son of former Chief Minister of Arunachal Pradesh, Dorjee Khandu. Pema Khandu assumed office as the Chief Minister in July 2016, making him one of the youngest Chief Ministers in India at that time.
Here is Gabe Whitley's response to my defamation lawsuit for him calling me a rapist and perjurer in court documents.
You have to read it to believe it, but after you read it, you won't believe it. And I included eight examples of defamatory statements/
Acolyte Episodes review (TV series) The Acolyte. Learn about the influence of the program on the Star Wars world, as well as new characters and story twists.
Your Go-To Press Release Newswire for Maximum Visibility and Impact.pdfPressReleasePower4
This downloadable guide explains why press releases are still important for businesses today and the challenges you might face with traditional distribution methods. Learn how [Your Website Name] offers a comprehensive solution for crafting compelling press releases, targeting the right media outlets, and maximizing visibility.
El Puerto de Algeciras continúa un año más como el más eficiente del continente europeo y vuelve a situarse en el “top ten” mundial, según el informe The Container Port Performance Index 2023 (CPPI), elaborado por el Banco Mundial y la consultora S&P Global.
El informe CPPI utiliza dos enfoques metodológicos diferentes para calcular la clasificación del índice: uno administrativo o técnico y otro estadístico, basado en análisis factorial (FA). Según los autores, esta dualidad pretende asegurar una clasificación que refleje con precisión el rendimiento real del puerto, a la vez que sea estadísticamente sólida. En esta edición del informe CPPI 2023, se han empleado los mismos enfoques metodológicos y se ha aplicado un método de agregación de clasificaciones para combinar los resultados de ambos enfoques y obtener una clasificación agregada.
2. 1
Government funding
September 6 commenced a pre-election session of Congress that is expected to focus on must-do
items: a continuing resolution (CR) to fund the government beyond September 30 and funding to
combat the Zika virus. The House is expected to be in session through the month of September, and
the Senate is slated to be in an additional week, through the first week of October, before breaking
until after the November 8 elections. The session could be shortened if the government funding issue
is resolved. The short timeframe and pre-election environment make passing much other legislation
unlikely, though plenty of topics will be under discussion: the House Republican tax reform Blueprint
released before the seven-week summer recess; miscellaneous tax bills at the committee level,
including a topical proposal exempting Olympic medals from tax; and other health items in addition to
Zika, including the viability of Affordable Care Act exchanges; and water resources legislation. The
discussions will come against the backdrop of a presidential election between Republican Donald
Trump and Democrat Hillary Clinton that has featured debate on many of the same issues, as well as
some direct interaction as Trump has adopted elements of the House Republican tax reform Blueprint.
House Speaker Paul Ryan (R-WI) and Senate Majority Leader Mitch McConnell
(R-KY) left for the summer recess expressing disappointment over the impasse
on appropriations bills, after both began the year citing government funding as
one area ripe for action under “regular order” after years of operating under
stop-gap and omnibus spending bills. The House has thus far approved five of
the dozen annual appropriations bills: Interior-Environment, Military
Construction and Veterans Affairs, Legislative Branch, Defense, and Financial
Services. The Senate has passed three appropriations bills – Energy and Water;
Military Construction/Veterans Affairs; and Transportation and Housing, and
Urban Development – with the Military Construction/Veterans Affairs
conference report combined with Zika virus funding that is currently stalled.
While Speaker Ryan left in July unwilling to give up on the regular order
spending process and has not announced a plan for moving forward, he is
reportedly preparing a three-month CR into December that will likely be
considered in the House the week of September 19, and in the Senate the week
following. Ryan faces opposition to the three-month approach from members of
the conservative Freedom Caucus, who advocate a CR until March 2017 in order
to give the new Congress and president a say in funding decisions and prevent
consideration of a massive bill in an anticipated post-election lame-duck session.
Democrats support a three-month CR. Senate Democratic leader Harry Reid (D-
NV), who is retiring, said September 1 that his members and the President will
not accept a resolution that continues funding into 2017.
Congress returns for pre-election session
3. 2
The September CR is unlikely to include major policy
riders or tax provisions, which would be expected to be
considered during a lame-duck session after the elections.
Items that could be considered at that time include
extensions of tax credits for energy technologies said to
be inadvertently left out of the 2015 year-end omnibus
and tax legislation, other 2016 tax extenders, and a tax
technical corrections package.
The near-term CR could, however, become a vehicle for
funding to fight the Zika virus if Senate efforts continue
to falter. The issue has gained considerable attention over
the recess, and the Centers for Disease Control and
Prevention warned August 30 that its funds for
addressing the virus were nearly exhausted. The spending
bill could also include supplemental funds aimed at major
flooding in Louisiana.
The White House has submitted to congressional
negotiators a list of “anomalies” it wants addressed in a
potential CR, including language to amend the Export-
Import Bank’s statutory requirement that its Board of
Directors have a quorum to be able to take any official
action. Senate Banking Committee Chairman Richard
Shelby (R-AL) has declined to consider nominations for
the Bank's board, leaving it short of the three-member
quorum to approve large transactions.
In terms of the broader schedule, Senator Reid said
Democrats would block other legislation until there is an
agreement on a CR and funding to fight the Zika virus,
including dropping “poison pill” riders from the current
proposal. Senate Majority Leader McConnell is said to
want to pursue a rewrite of the Water Resources
Development Act, and other bills could come up in the
Senate.
In the House, Majority Leader Kevin McCarthy (R-CA) has
outlined a September agenda that includes elements of
the Better Way campaign of policy papers released prior
to the recess and bills addressing regulation, including
one regarding congressional disapproval of regulations
issued late in President Obama’s term. “While House
Republicans developed this bold agenda as a blueprint for
2017 and beyond, I believe we can and should make a
down payment immediately – particularly in the areas of
restoring Constitutional authority and regulatory reform,”
Rep. McCarthy said in the memo.
Congress returns for pre-election session
According to Rep. McCarthy’s memo, bills
that could be considered on the House
floor in September include:
► H.R. 5063, the Stop Settlement Slush
Fund Act
► H.R. 5226, the Regulatory Integrity
Act, which requires agencies to publish
information about proposed
regulations
► A bill to allow Congress to disapprove
en bloc unacceptable “Midnight
Regulations” issued late in an
Administration’s term
► H.R. 3438, the Require Evaluation
before Implementing Executive
Wishlists, to prohibit major
rulemakings from taking effect until
pending litigation is finalized
► H.R. 5577, the Innovation in Offshore
Leasing Act, to modernize the offshore
leasing process
► H.R. 5424, the Investment Advisers
Modernization Act of 2016, to reduce
the cost of capital from small private
equity firms
► H.R. 2357, the Accelerating Access to
Capital Act, to eliminate certain costs
for small private companies
► H.R. 4852, the Private Placement
Improvement Act, addressing small
business regulatory burdens
4. 3
While movement on 2016 tax extenders will likely wait
until at least the lame-duck session and heavy lifting on
issues like tax reform won’t occur until a new president
and Congress are in power in 2017, there will still be
considerable work done around the edges on tax issues
during the remainder of 2016.
Miscellaneous tax bills. Both tax-writing committees are
contemplating action on miscellaneous tax bills.
House Ways and Means Committee Chairman Kevin Brady
(R-TX) continued to suggest that the Committee may
consider Member tax proposals that are separate from tax
reform. “We are evaluating a package of tax bills to move
forward,” Brady said in June. The Ways and Means Tax
Policy Subcommittee May 12 held a hearing on Member
proposals for improvements to the tax system that
included testimony about legislation addressing charity,
research, energy, student loan, and alcohol tax issues,
among others.
One item that could be part of
such a markup is a proposal from
Rep. Bob Dold (R-IL) to exclude
from gross income, for income
tax purposes, the value of any
medal or prize money received
on account of competition in the
Olympic Games. Chairman Brady
has stated that he would work to
move the bill through Committee
in September and Speaker Ryan
supports the proposal and wants
a House vote. A similar bill (S.
2650) was approved by the
Senate in July.
Senate Finance Committee Chairman Orrin Hatch (R-UT)
and Ranking Member Ron Wyden (D-OR) have set criteria
for consideration of non-controversial legislation, but
have not signaled when a markup could occur. “Our
sincere hope is that we can continue making meaningful
changes with much more frequency and efficiency,” the
Senators said in a June 24 Dear Colleague letter. It said
such bills should: be in the Finance Committee’s
jurisdiction; be non-controversial, and have strong
bipartisan support in the Committee and in the Senate;
have little or no budgetary impact; address subject matter
that has been thoroughly reviewed by the Committee,
have received official technical assistance from the
appropriate agency; and not be opposed by leadership of
either party in the Senate, or the White House.
Similar criteria were set ahead of a February 11, 2015,
markup during which the Committee reported out 17
miscellaneous tax bills, some of which were enacted in the
year-end 2015 tax bill.
Section 385 regulations. Amidst continued criticism from
the business community, key House and Senate
Republican tax writers, and the Wall Street Journal
editorial page, the U.S. Treasury continues to pledge to
move “swiftly” to issue final regulations under Section
385 which would recharacterize debt as equity in certain
circumstances. The proposed regulations, issued on April
4, were the subject of hundreds of stakeholder comment
letters, an IRS hearing early in the summer, and
numerous requests to Treasury from the Senate Finance
Committee and the House Ways and Means Committee to
brief members and staff on the regulations and areas that
Treasury might be open to changing in the final
regulations. Treasury officials, including Secretary Jack
Lew, met with members and staff prior to the summer
recess, and it is expected that there will be additional
meetings when Congress returns. A recent letter signed
by all Republican members of the House Ways and Means
Committee called on Treasury to be as transparent as
possible in discussing with members how problematic
issues will be addressed in the final regulations, while
Senate Finance Committee Chairman Hatch reiterated his
request that the proposed regulations be withdrawn.
Meanwhile, Treasury officials, in meetings on the Hill as
well as in private meetings with industry groups and
individual companies, have committed to making changes
in a number of areas as part of the final regulations, but it
remains unclear how Treasury will draw the new
boundaries in determining the scope of the final
regulations. The areas where changes are likely (or at
least possible) include:
► Cash pooling arrangements
► Potential exemptions or carve outs for financial
services industry groups
► Payments among foreign subsidiaries of US companies
► Treatment of S corporations
► Treatment of REITs
► Revisions to the documentation requirements
► Revisions to the “per se” recharacterization rule
► Modifications to effective dates
Congress returns for pre-election session
Tax
5. 4
Possible changes could address multiple issues
simultaneously. For example, a broad exemption for
foreign-to-foreign loans and distributions, depending on
how it is crafted, could provide significant relief for many
cash pooling arrangements. Some companies have told
the Treasury they might prefer such a carve out to an
alternative proposal whereby some definition of cash
pooling arrangements would be exempted from the
regulations. The fear with this latter approach is that it is
too difficult to craft a one-size-fits-all solution on cash
pooling given the variety of pooling arrangements utilized
by companies. Regarding a foreign-to-foreign carve out, it
remains unclear which transactions would be excepted
under such a carve out, and Treasury officials have
expressed some concern that a broad carve out actually
could further expose the regulations to legal challenge on
the grounds that the remaining scope of the regulations is
outside the authority granted by Section 385.
Modifications to certain effective dates are also under
active consideration for inclusion in a final regulation. In
particular, Treasury officials have indicated that the
documentation requirements in the proposed regulation
will become more manageable in a final regulation and
they may provide more time for companies to develop
their systems in order to comply with whatever a final rule
requires.
As for timing, statements that final regulations would be
issued in early September are now being tossed aside.
While a Treasury spokesperson recently reiterated that
the effort to produce final regulations will proceed
“swiftly,” the number of complex issues to be resolved
and the need to get agreement among senior IRS and
Treasury officials not only on the appropriate policy
outcome, but how that outcome should be worded, clearly
means final regulations will not be released until later this
fall.
Koskinen resolution. A resolution to impeach IRS
Commissioner John Koskinen could make its way to the
House floor in September at the urging of conservative
members. A four-article resolution put forward in July,
which included an accusation of “engaging in a pattern of
conduct showing he is unfit,” expired and would need to
be refiled. Koskinen has long been the target of hostility
over alleged IRS targeting of conservative groups. House
leaders have not expressed support for an impeachment
resolution. In July, Speaker Ryan said only that it would
be a topic for discussion when Congress returned.
Congress returns for pre-election session
Following is a timeline of communications
from lawmakers to Treasury regarding the
Section 385 regulations.
► June 22: Ways and Means Democrats
asked for consideration of “exceptions
or special rules, including transition
rules,” for the proposed regulations.
► June 28: Committee Republicans
expressed “grave concerns” over the
potential impact of the rules and
requested that the public comment
period be extended.
► July 5: Seven Finance Committee
Republicans asked Treasury to
ensure that ordinary business
transactions are not adversely
affected.
► July 6: Closed Joint Committee on
Taxation briefing with Treasury to air
concerns about the regulations
► August 22: Ways and Means
Republicans said it is not clear that
Treasury has identified appropriate
solutions and that other issues have
not been adequately addressed.
► August 22: Senate Finance
Committee Chairman Hatch asked
Treasury to re-issue the regulations in
proposed form.
► August 24: Seven Finance Committee
Republicans asked for an
explanation, before the rules are
finalized, of how certain reforms will
be addressed.
6. 5
Tax reform
Senate. Senate Finance Committee Chairman Hatch is
still aiming to release a corporate integration discussion
draft. In July, Chairman Hatch said the proposal is still
being analyzed by the Joint Committee on Taxation and
would likely be delayed at least until Congress returned in
September. The draft is expected to pair a dividends paid
deduction with a 35% withholding tax for dividends and
interest.
Finance Committee Republican staff have said that a
corporate integration plan with dividends paid deduction
can be viewed as a corporate tax rate cut without having
to touch provisions that are strongly supported by the
business community, such as accelerated depreciation,
the R&D credit, and deductibility of advertising expenses.
The dividends paid deduction method coupled with a
withholding tax is the method seen by Chairman Hatch as
having policy benefits that include greater parity between
debt and equity, reducing the incentive for companies to
undertake inversion transactions, and lessening the need
for companies to keep earnings off-shore (i.e. the lock-out
effect). Other Senators and outside observers have raised
concerns about a corporate integration plan, including:
► that the 35% withholding tax expected would penalize
tax-exempt entities like retirement plans and deter
foreign investment in the United States; and
► that a dividends paid deduction would, by reducing
corporate tax liability, diminish the effectiveness of
current tax incentives like the R&D credit and
accelerated depreciation, and disadvantage start-up
companies more likely to retain their earnings rather
than pay dividends.
House. House Republicans released their tax reform
Blueprint on June 24, as the sixth and final plank of
Speaker Ryan’s “Better Way” campaign to provide voters
policy choices ahead of the upcoming political
conventions and the November elections. The plan
proposes a 20% statutory corporate tax rate, a 25%
business tax rate for pass-through entities, a move toward
a cash-flow consumption tax through immediate
expensing for all businesses and elimination of
deductibility of net interest expense, a territorial
international tax system, a border tax adjustment
mechanism, and elimination of most business preferences
except the R&D tax credit and LIFO.
For individuals, rates would be set at 12%, 25%, and 33%.
This element gained attention over the recess when
Republican presidential nominee Donald Trump adopted
the rates as part of a revision of his own tax plan,
expressed support for expensing, and said that he would
work with House Republicans to advance the proposal.
The deductibility of mortgage interest and charitable
donations would be retained under the Blueprint, but
other itemized deductions (including the deduction for
state and local taxes) would be repealed.
Ways and Means Republican tax staff is in the process of
receiving feedback and building out the tax reform
Blueprint by drafting detailed statutory language. The
publicly expressed goal is to have that effort completed by
the end of 2016, with the intention to produce draft
legislation that is ready to move early in the next
Congress, regardless of who wins the White House. Staff
must resolve a number of very difficult policy and
technical issues as they undertake this drafting process.
Congress returns for pre-election session
House Republican Tax Reform Blueprint Highlights
Corporate tax rate 20%
Business income pass-through tax rate 25%
Taxation of future foreign earnings Territorial, 100% exemption for dividends paid from foreign subsidiaries
Taxation of accumulated foreign earnings 8.75% for cash/cash equivalents, 3.5% otherwise
Border adjustability Exports exempt from tax/imports taxed
Cost recovery 100% expensing
Interest expense Not deductible on a net basis
Corporate tax preferences Generally eliminated, except for R&D credit/LIFO
Individual tax rates 12%, 25%, 33%
Investment income 50% deduction, basic rates of 6%, 12.5%, and 16.5%
Individual deductions
Eliminated except for mortgage interest, charitable contributions/Std
deduction increased
AMT/Estate tax repealed
7. 6
Following are some of the more difficult issues staff will face in turning the Blueprint into legislative language:
Border adjustability – A key component of the Blueprint is border adjustability; in other words, exempting export income
from corporate tax while subjecting import income to full taxation. Among other benefits of this approach, along with
promoting US exports, is the staff’s understanding that by making the tax system border adjustable, most of the anti-base
erosion provisions that previously have been proposed as part of moving to a more territorial tax system would be
unnecessary, including any kind of minimum tax on low-taxed or other foreign earnings. But developing a workable border
adjustability mechanism that is not actually a component of a value-added tax presents some significant policy and
technical hurdles.
For example, US companies that are net exporters could end up in a perpetual tax loss position, and in the enviable
position of receiving tax refunds every year because much of their expenses will be deductible while much of their income
is not subject to tax. However, handing out refunds to some of the largest US companies may not work from a political
standpoint, particularly as the domestic income of US companies (including the suppliers for exporting companies) is
subject to tax.
Technically, the Blueprint provides that the cost of imports would not be deductible – ever – but does not provide details
on how those costs would be determined or whether other costs would need to be allocated to the imports (and made non-
deductible). Similarly, if US companies are eligible for tax refunds reflecting the costs associated with export sales that are
exempt from tax, the Blueprint does not address how to determine those costs, including whether indirect costs would be
allocated to those sales (and eligible for tax refunds).
Staff must also consider how to apply the border adjustability concept to cross-border flows of capital, or whether to
exempt financial transactions. For example, they must consider whether a loan from a US bank to a foreign entity is an
export, meaning the interest income on the loan is exempt from US tax, while the cost of funding that loan – the interest
on US bank deposits – would be deductible.
Along with these political and mechanical questions, there is the question of whether such a system, embedded in an
income tax rather than a value added tax or other true consumption tax, is legal from an international trade perspective.
While proposing a “consumption-like” income tax rather than an actual consumption tax may provide political space to
make concessions and other adjustments that would not be possible in a consumption tax, this approach may weaken the
argument that the Blueprint is proposing an indirect (rather than direct) tax for which border adjustability adheres to
international trade obligations under the World Trade Organization.
Full expensing with non-deductibility of interest expense – The Blueprint would permit companies to fully and
immediately deduct the cost of all tangible and intangible property, with the exception of land. However, the Blueprint
also would correspondingly deny deductions for net interest expense. Companies must therefore weigh whether losing
interest deductions is a cost they are willing to incur in exchange for full expensing (and a 20% corporate rate). The
purpose for denying deductions for net interest expense is to prevent a presumed double benefit from fully expensing
leveraged purchases of property. However, the exclusion of land from full expensing under the Blueprint would be
particularly severe for debt-financed purchases of land because the land would not be eligible for full expensing (or
apparently even depreciation as under current law), while deductions for interest expense on the debt would not be
permitted. Moreover, the persistent issues under current law involving the allocation of purchase price between non-
deductible land and immediately deductible improvements on the land would be intensified under the Blueprint.
At least in the short term, the magnitude of these tax changes under the Blueprint likely would result in significant
disruptions of some existing business finance models that have developed in the context of the current tax laws. For
example, companies in the lending or leasing business may be concerned that their clients will move towards raising
equity to fund their business and away from debt or leasing arrangements. Insurance companies, which invest premiums
in longer term corporate debt in order to ensure they have the funds to pay off long-term promises, could find the supply
of such debt to be less ubiquitous. Certain other financial institutions – such as broker dealers, investment banks, private
equity funds, and hedge funds – that fund themselves with debt but have financial income not necessarily in the form of
interest may find themselves in a net interest expense position, and thus denied a deduction for what they consider to be
their costs of goods sold unless the definition of interest income is broadly defined in the legislation.
Congress returns for pre-election session
8. 7
Broadening the base to pay for lowering the rate – Reducing the corporate tax rate to 20% in a fiscally responsible way
will be difficult, even using dynamic scoring approaches and a current policy baseline (which treats currently temporary
provisions as permanent). The Blueprint states that targeted tax breaks will be eliminated, but it remains unclear what
that really means or which tax provisions are on the table, and it could require the elimination of potentially hundreds of
billions of dollars in tax expenditures to reach the 20% corporate tax rate goal. Even tax incentives such as the research
tax credit – which the Blueprint would preserve – could effectively be repealed for companies that have their taxable
income largely eliminated through either full expensing or the exclusion of export income (or both). As such, policymakers
eventually may have to examine alternatives to the research tax credit, to the extent that promoting innovation through
the tax system remains a priority.
Once the details are hashed out, the Blueprint could present just as many trade-offs as previous serious tax reform
proposals. While the mix of winners and losers may be different than under other proposals, the ultimate fate of the
Blueprint will still be determined by the same fundamental political dynamics that would face any tax reform proposal.
EU State aid. The European Commission’s August 30 conclusion that Ireland granted undue tax benefits of up to $14.6
billion to Apple that should be recovered drew criticism from members of Congress, who like the Obama administration
continued to call the EU’s State aid investigations a revenue grab disproportionately targeting US companies:
► “The European Commission’s decision is a predatory and naked tax grab.” –Ways and Means Chairman Kevin Brady
► “Slamming a company with a giant tax bill – years after the fact – sends exactly the wrong message to job creators on
both sides of the Atlantic.“ –Speaker Ryan
► “It appears the European Commission has issued an extraordinary decision that targets U.S. business by rewriting
already existing tax policies.” –Senate Finance Committee Chairman Hatch
► "This is a cheap money grab by the European Commission, targeting U.S. businesses and the U.S. tax base.” - Senate
Finance Committee member Charles Schumer (D-NY)
Treasury is considering potential responses to the Commission’s actions and released a white paper August 24 detailing
their concerns. The issue is likely to continue to attract attention from Congress and has rekindled elements of the
international tax reform debate, including criticism of the current system of deferral of foreign earnings by US-based
multinationals. It remains to be seen whether the decision and the bipartisan criticism of the decision will help drive at
least international tax reform legislation in 2017.
Congress returns for pre-election session
Remote Sales Tax
On August 25, House Judiciary
Committee Chairman Bob
Goodlatte (R-VA) released a
second discussion draft related to
remote sales tax that would apply
tax at the destination state of the
goods, rather than on the location
of the seller, which was his
previous approach. The tax would
be imposed at a single rate
determined by the state of the
purchaser, but using the tax base
of the state of origin. Chairman
Goodlatte wants a vote later in the
year on the proposal, which has
the support of Speaker Ryan.
Tax Treaties
President Obama has called on
Congress to approve eight Foreign
Relations Committee-approved tax
treaties that Senator Rand Paul
(R-KY) wants renegotiated over
information sharing concerns. The
treaties include: new protocols
amending US tax treaties with
Switzerland, Luxembourg, Spain
and Japan; new tax treaties with
Hungary, Chile and Poland; and a
multilateral convention on tax
administration. Foreign Relations
Chairman Bob Corker (R-TN) told
Senators in May the treaties are
“not new and exotic instruments”
and should be ratified.
Technical Corrections
Technical corrections bills
introduced in April (H.R. 4891, S.
2775) would make changes to
several provisions, including the
bonus depreciation language
enacted in the year-end 2015 tax
legislation. Stakeholders are also
interested in changes to the
partnership audit rules enacted in
a 2015 budget bill. No plans for
consideration have been
announced, but a technical
corrections package could be
added to other legislation, most
likely during the lame-duck session
after the elections.
9. 8
Health care
Several health care topics are expected to demand congressional attention during the September pre-
election session, some of which have been simmering over the summer recess, namely: the inability
thus far for lawmakers to agree on a funding plan to address the Zika virus; the public outcry following
media reports about the expense of the EpiPen for allergy emergencies, and the related debate over
drug pricing; and the viability of the Affordable Care Act (ACA) exchanges in light of some high-profile
insurer withdrawals and large premium increase requests from insurers in certain states. Other issues
likely to be the subject of attention during this period include possible health care markups in the
House Ways and Means Committee, the 21st Century Cures legislation, mental health legislation, and
MACRA oversight. Following are snapshots of the issues.
Zika - Prior to the August recess, Congress had been unable to reach agreement
over how to fund a federal response to the growing concern over the Zika virus,
an issue that has been the subject of considerable attention and political finger-
pointing. The House had passed its own Zika bill but leaders acceded to
addressing the issue in the Military Construction/VA appropriations conference
report, which includes funding at the Senate agreed-to level of $1.1 billion, with
offsets totaling roughly $750 million. They include: $543 million in unspent
funding for the implementation of the ACA in US territories; $107 million in
unspent funds allocated to fight Ebola; and $100 million in unused
administrative costs at the Health and Human Services (HHS) Department.
Senate Democrats opposed the conference report because the funding level was
$800 million less than the President’s request and over “poison pill” riders
addressing the ACA and other political controversies, including language
providing that contraception funding in Puerto Rico could not be directed to
Planned Parenthood. Democrats also raised environmental concerns about a
provision to allow the application of pesticides in targeted areas without a
further permit currently required under the Clean Water Act. The House passed
the conference report in June along party lines, but the Senate has failed twice
to advance it. Attaching funds to the CR is also a possibility. The CDC warned on
August 30 that its available funds to combat the virus were nearly exhausted.
EpiPen – Public concern over the price of the EpiPen auto-injector kept at the
ready in the event of anaphylactic shock has caught the attention of members of
Congress. Manufacturer Mylan’s efforts to boost financial assistance to
consumers for the product and to sell a generic version at about half the cost of
the brand-name version have failed to quell the controversy. The House
Oversight and Investigation Committee is investigating and requested
information from Mylan. Similarly, a group of 20 senators led by Elizabeth
Warren (D-MA) wrote to Mylan August 30 noting the increase in the price of
EpiPens and asking questions about the company’s practices. Furthermore, on
September 2, Finance Committee Ranking Member Wyden and Energy and
Commerce Committee Ranking Member Rep. Frank Pallone (D-NJ) sent a letter
to HHS Secretary Sylvia Burwell with a series of questions regarding Mylan’s
EpiPen rebate obligations under the Medicaid Drug Rebate Program.
Congress returns for pre-election session
10. 9
ACA Exchanges – The recent decisions by Aetna and
UnitedHealth to exit many ACA exchanges have, along
with other insurers filing significant premium increases
and projecting losses, raised questions about the
viability of the marketplace in certain parts of the U.S.
Merger prospects for several large insurers, the exit of
large insurers from multiple marketplaces, and the
failure of several co-ops have raised broad concerns
about fewer consumer choices in the exchanges and
higher premiums. The developments, coupled with
reports that ACA enrollment for 2016 is less than half
of what was projected – the Congressional Budget Office
in 2013 projected 24 million enrollees by 2016, but
reported just over 11.1 million as of March – stand to
intensify the already pitched political fight over the
future of the ACA, especially as voters face a choice
between a Republican presidential candidate that wants
to scrap the law and a Democratic candidate that wants
to build upon it. “Plans are rapidly exiting the so-called
marketplace because Washington has damaged and
upended the insurance markets,” said House Energy and
Commerce Committee Chairman Fred Upton (R-MI).
Rep. Diana Degette (D-CO) told the Washington Post she
expected Republicans to continue their case for
repealing the ACA but that constructive fixes may not
be determined until after the elections. “There’s a long
list of things large and small that need to be adjusted,”
she said. “But I don’t think anyone can say what that is
until we know what the new Congress looks like.”
Mental health – A package of provisions related to
mental health (the Helping Families in Mental Health
Crisis Act, H.R. 2646) was approved by the House in
July on a 422-2 vote, though efforts on a Senate bill (S.
2680) are in jeopardy over a related gun debate.
Democrats are concerned that second-ranking Senate
Republican John Cornyn’s (R-TX) potential amendment
regarding the interaction between mental health and the
criminal justice system could make it easier for guns to
fall into the hands of the mentally ill. There is also
concern that opening the debate to other gun
amendments could ultimately doom the bill. Senator
Chris Murphy (D-CT), who sponsors the Senate bill along
with Senator Bill Cassidy (R-LA), said before the recess,
“I still believe this bill has to be about fixing the mental
health system, not about changing gun laws,” according
to Bloomberg BNA. Democratic presidential candidate
Hillary Clinton recently released her own mental health
proposal intended to: promote early diagnosis and
intervention; integrate mental and physical health care
systems; train law enforcement officers in crisis
intervention, and prioritize treatment over jail;
enforce mental health parity; improve access to housing
and job opportunities; and invest in brain and behavioral
research and developing safe and effective treatments.
Congress returns for pre-election session
21st Century Cures – Senate Health, Education, Labor,
and Pensions Committee Chairman Lamar Alexander (R-
TN) and House Energy and Commerce Committee
Chairman Upton are still aiming for passage of the
21st Century Cures legislation when Congress
returns. ”This could be the most important legislation
Congress passes this year, and there’s no excuse for not
finishing our work in September,” said Senator
Alexander. The HELP Committee has passed a package
of 19 bills that Alexander said “create a breakthrough
path for new medical devices, help the FDA attract
talented researchers and reduce administrative burdens
on researchers,” but the Senate has yet to act.
Bloomberg BNA reported Alexander as saying one
disagreement is over how to pay for the bill. Partisan
tensions include funding for National Institutes of Health
(NIH) and how to offset any new funding. In July 2015,
the House passed its own 21st Century Cures Act, 344-
77, to authorize funding to accelerate new treatments
and reduce regulatory hurdles. It would provide nearly
$9 billion in new research funding to NIH, and reform
Food and Drug Administration approval of new
medicines and medical devices.
MACRA Oversight – Congressional oversight of the
Centers for Medicare & Medicaid Services’ (CMS)
implementation of the Medicare Access and CHIP
Reauthorization Act of 2015 (MACRA) is expected to
continue following a July 13 Senate Finance Committee
hearing and ahead of publication of a final rule on the
matter expected later this year. MACRA eliminated the
Sustainable Growth Rate, or SGR, formula and included
structural reforms to the Medicare program. Andy
Slavitt, Acting Administrator of the Centers for Medicare
and Medicaid Services, told Finance that CMS will
“continue to gather feedback from our stakeholders, to
inform an implementation approach that leads to better
care, smarter spending, and improved patient
outcomes,” and also is willing to consider a delayed start
for the new physician Medicare quality reporting
program slated to take effect in 2017.
11. 10
On September 14, the Senate Finance Committee is planning to hold a markup on consensus, non-controversial
retirement savings proposals. The primary focus is the Miners Protection Act (S.1714), to provide the transfer of funds to
pay health benefits to retired miners and prevent insolvency of the United Mine Workers of America pension fund.
Another issue for possible consideration is legislation to encourage broader use of open multiple employer plans (MEPs),
which allow businesses to share administrative and other responsibilities but are hindered by a common interest
requirement among employers. The Committee may also consider several proposals designed to encourage savings and
guard against longevity risk, including the Lifetime Income Disclosure Act (LIDA), which would require defined
contribution benefit statements to include a projection of the annuity the participant would receive based on their account
balance. There is also interest in a provision to make it easier for required disclosures to be provided electronically.
There are also a host of “member” issues that could be considered; their inclusion will hinge on their ability to satisfy the
“non-controversial” test Chairman Hatch and Ranking Member Wyden have set, and on their revenue score. Among
these are a bill introduced by Senators Mike Enzi (R-WY) and Bill Nelson (D-FL) that would make it easier for workers who
separate from their companies with outstanding balances on loans from their 401(k) plan to repay the loans. Proposals
dealing with S Corp ESOPs and nondiscrimination testing for frozen defined benefit plans have gotten attention, as has a
bill sponsored by Senators Mark Warner (D-VA) and Dean Heller (R-NV) dealing with nonqualified deferred compensation
paid by private companies. The Empowering Employees through Stock Ownership Act (S. 3152) is intended to ease the
tax implications for employees of non-public firms through provisions like extending the time period in which employees
are required to pay tax upon exercise of stock options. A companion bill sponsored by Rep. Erik Paulsen (R-MN) could also
be considered in the House Ways and Means Committee during this work period, according to press reports. A decision on
whether the overall package will be offset, and how that affects what is included, will await the members’ return.
Congress returns for pre-election session
Retirement savings
Over the recess, House Financial Services Committee Chairman Jeb Hensarling (R-TX) told Politico that this month he
plans to formally introduce and mark up the “Financial CHOICE Act,” his sweeping bill that would scrap key elements of
the 2010 Dodd-Frank Act and replace them with alternative financial reforms. Chief among these is a provision that would
exempt banks from much of Dodd-Frank’s new prudential regime if they agree to maintain a 10 percent leverage ratio -- a
change that would require the largest banks to hold billions more in capital. The bill is not expected to be taken up in the
Senate this year, but remains a key ideological marker for Hensarling and other House conservatives, and it could
eventually get a vote on the House floor in the lame-duck session. Hensarling acknowledged that his schedule for marking
up the bill could slip. He said the version of the bill that will be introduced will probably only have “minor modifications”
from the discussion draft he released in June.
Committee Republicans have also been trying to get Treasury Secretary Jack Lew to appear before the panel to testify on
the Financial Stability Oversight Council’s annual report. A letter from Hensarling to Lew last week said that if Treasury
does not offer potential dates for Lew’s appearance, the committee will consider issuing a subpoena to compel Lew to
testify on September 21. On September 28, Federal Reserve Chairman Janet Yellen is scheduled to testify on the Fed’s
supervision of banks under Dodd-Frank.
This week several measures from the Financial Services Committee are set to come to the House floor for votes, including:
a bill modernizing the 1940 Investment Advisers Act (H.R. 5424); a bill blocking the Justice Department and other
agencies from directing the proceeds of future bank settlements to outside groups (H.R. 5063); and a bill with several
components intended to improve access to capital (H.R. 2357). That bill gathers three committee-passed measures easing
SEC regulations related to Form S-3 for small-company registrations, “micro-offerings,” and Regulation D’s language on
general solicitations. A House Financial Services subcommittee is also scheduled to hold a hearing on September 7 on
governance of the regional Federal Reserve Banks. Jeffrey Lacker and Esther George – the presidents of the Richmond
and Kansas City Federal Reserve Banks, respectively – are slated to testify.
The Senate Banking Committee, meanwhile, has not yet announced any hearings for September, but Chairman Shelby is
believed to be planning oversight hearings on the Iran nuclear agreement and a possible markup of regulatory relief bills
related to SEC rules.
Financial services
12. 11Congress returns for pre-election session
In September, the House is expected to consider H.R. 5577, the Innovation of Offshore Leasing Act, to modernize the
Department of the Interior's offshore oil and gas leasing bidding process, as part of a cadre of innovation and regulatory
reform bills.
Prospects for the energy policy conference, however, remain in doubt. In April, the Senate passed S. 2012, the Energy
Policy Modernization Act of 2016, on a bipartisan vote. The House took a more partisan approach to its omnibus energy
legislation, passing H.R. 8 in December, 2015 along party lines under threat of a presidential veto. The conference on S.
2012 is further complicated by the addition of contentious natural resources issues, including House provisions to favor
agricultural interests over urban users in allocation of California water.
Efforts to include tax provisions – including extensions of tax credits for energy technologies said to be inadvertently left
out of the 2015 tax legislation – in the Federal Aviation Administration (FAA) reauthorization enacted in July were
unsuccessful. Members such as Senate Finance Committee Ranking Member Wyden are hopeful there will be other
opportunities. “Odds are certainly in favor of there being an end-of-the-year package that involves taxes,” Wyden said.
“I’ve heard from members of both parties that there are a handful of extenders that they hope will go in at the end of the
year, so I’m expecting that. And of course, I do feel strongly that those handful of renewable energy incentives ought to
get done, because all sides acknowledge it was an omission.” Finance Committee Chairman Hatch, however, said he is
“not very enthused” about revisiting the provisions, echoing previous comments by Ways and Means Chairman Brady.
Energy
Last year Shelby pushed through the committee a broad reform bill easing a range of Dodd-Frank and Federal Reserve
policies, but the bill was uniformly opposed by Democrats and never came to the floor, and Shelby’s bid to insert the
package into the end-of-year omnibus spending bill failed. A group of moderate committee Democrats has occasionally
met with the chairman’s staff to negotiate a narrower version of the bill, with few results so far. Ranking Member Sherrod
Brown (D-OH) has said such a bill should be limited to provisions providing relief to community banks.
Several key financial nominees continue to await confirmation votes. President Obama months ago nominated Lisa Fairfax
(a Democrat) and Hester Peirce (a Republican) to fill two vacancies at the SEC, and the Banking Committee eventually
advanced their nominations, but neither nominee has been given a floor vote and prospects for such a vote are uncertain.
A number of Senate Democrats were unsatisfied with Fairfax’s answers to questions about a potential SEC rule requiring
corporations to disclose their political contributions. Meanwhile, the president’s two nominees to the Commodity Futures
Trading Commission (CFTC), Democrat Chris Brummer and Republican Brian Quintenz, have waited for a confirmation
hearing in the Senate Agriculture Committee. According to press reports during the August recess, the committee will
hold that hearing sometime this month, though it remains uncertain if there will be time for the CFTC nominees to get a
floor vote this year.
A federal appeals court on October 24 is scheduled to hear arguments in the Treasury Department’s appeal of a lower
court ruling that threw out the Financial Stability Oversight Council’s (FSOC) designation of MetLife as a systemically
important non-bank. Also in the coming weeks, the Federal Reserve and other agencies are expected to release a report
(required by the Dodd-Frank Act) offering recommendations for how to reduce risks posed by large banks and investment
firms. According to Bloomberg News, the report will recommend restricting banks’ investments in copper and other hard-
to-value “level 3” assets.
Trade
Any hopes for congressional approval of the Trans-Pacific Partnership (TPP) are focused on the expected lame-duck
session of Congress following the elections. Concern about the effects of free trade on American communities has been a
main focus for both presidential candidates, making any action during the September session very unlikely. President
Obama and advocates of the TPP would be expected to work to gain sufficient support to advance the pact following the
elections. In August, the Administration submitted to Congress a Statement of Administrative Action on TPP.