Article

Today In Washington

December 20, 2017

Source: AEO Government Relations Team, Madison Services Group


Tax Bill Ping-Pong

Early this morning, the Senate passed the “Tax Cut and Jobs Act,” but the bill will not be sent to President Trump quite yet. After receiving the bill following House passage yesterday afternoon, the Senate Parliamentarian struck three provisions from the bill prior to Senate passage. This requires the House to re-vote on the amended bill, which the House is expected to pass today, before it is sent to the President. This was not wholly unexpected, given the speed with which the bill was written.  

The stricken provisions were:

  • The short title of the bill “Tax Cuts and Jobs Act”
  • Changes to 529 savings plans that would have allowed money is college savings accounts to be used for homeschooling
  • A provision that would have exempted colleges and universities with fewer than 500 tuition-paying students from a tax on endowments of more than $500,000 per tuition-paying student

House Ways & Means Chair Kevin Brady (R-TX) said the House is not finished with tax legislation. Next year, he plans to draft bills addressing retirement savings and a reorganization of the Internal Revenue Service (IRS). The original plan to address these issues in the current bill was dropped due to time constraints and the Senate’s Byrd Rule.  

Appropriations Watch: Day III

House GOP Leadership has altered their plan on a year-end government funding bill due to rank-and-file opposition within their conference. They have stripped full FY 2018 defense appropriations and the recently introduced $81 billion disaster supplemental bills from the continuing appropriations resolution (CR), instead planning two separate votes on Thursday — a CR to fund the government through January 19, 2018, and the disaster bill — and then adjourn for the holidays. It is unclear at this time whether the House will keep other provisions, such as the five-year extension of the Children’s Health Insurance Program (CHIP), in the CR.  

The Senate has another hurdle altogether. Senate Majority Leader Mitch McConnell (R-KY) promised Senator Susan Collins (R-ME) that he would include language to bolster Obamacare insurance markets in the CR in return for her vote for the tax bill. He is expected to combine that language with the disaster bill and CR which, if passed, would send the measure back to the House. House conservatives — having already persuaded GOP Leadership to separate the disaster bill from the CR — are flatly opposed to the Obamacare fix, and have already demanded that the provision explicitly ban funding for abortion. For their part, Senate Democrats seemed to back down on their demand for action on DREAMERS after Senator Jeff Flake (R-AZ) said there will be a DREAMERS bill on the Senate floor in January. At least eight Democrat votes are needed to pass the funding bill in the Senate, with Democrats likely needed in the House as well. As a reminder, the current CR expires on Friday.   


Share this...

Recent News

January 18, 2018
Today in Washington
Today’s House vote on a continuing appropriations resolution to fund the federal government through February 16 is expected to be extremely close.

January 17, 2018
Today in Washington
Late last night, the House Appropriations Committee introduced H.J.Res. 125, a CR to fund the government through February 16, 2018.

January 16, 2018
Today in Washington
After the collapse of a bipartisan immigration deal to protect Dreamers, Congressional GOP leadership is proposing a CR through February 16 to provide more time for budget talks.

January 16, 2018
AEO to Develop New Products and Services for Black Business Owners Facing Entrepreneurial Barriers
AEO has received a $1,150,000 grant from the W.K. Kellogg Foundation to develop solutions to address barriers faced by Black business owners.

January 12, 2018
Today in Washington
Today, the SBA submitted its Semiannual Regulatory Agenda, which documents current and proposed regulatory activity, as well as completed actions.

January 11, 2018
Today in Washington
The Treasury Department is expected to propose major changes to the Community Reinvestment Act (CRA) in early 2018.

January 9, 2018
Today in Washington
Today, President Trump is scheduled to host a bipartisan group of Congressional leaders as negotiations continue toward a budget deal, ahead of the January 19 expiration of the current CR.

January 8, 2018
Today in Washington
With the January 19 deadline fast approaching, negotiations on FY 2018 federal funding are expected to intensify this week.

January 4, 2018
Today in Washington
Yesterday, the Senate swore in two new members of the upper chamber.