Today In Washington
Source: AEO Government Relations Team, Madison Services Group
Appropriations Watch: On the Clock Day 3
House GOP Leadership has pushed a vote on a two-week continuing appropriations resolution (CR) to Thursday. The CR vote — scheduled for today — was delayed yesterday due to opposition from the House Freedom Caucus who are advocating a CR that goes to December 30, citing the two-week extension as giving Democrats too much leverage in negotiations. Congressional GOP Leadership eventually decided to go ahead with a CR that expires on December 22 due to Senate rules that would require at least eight Senate Democrats to pass the spending measure. As a reminder, the federal government is operating on a CR that expires on Friday.
Tax Reform Update
Today, the Senate is expected to begin 10 hours of debate on a motion to conference with the House on tax reform. Among the issues conferees will have to reconcile is the treatment of pass-through entities. The House bill generally taxes pass-throughs at a 25% tax rate. The Senate bill provides a 23% tax deduction. The U.S. Chamber of Commerce, an initial supporter of tax reform, is advocating for the removal of the corporate Alternative Minimum Tax (AMT). The corporate AMT was a last-minute addition to the Senate bill, intended to pay for an increase of the pass-through deduction from 17.4%. The Senate is expected to vote on the measure tomorrow.
October 22, 2018
Treasury Releases Proposed Regulations on Opportunity Zones Designed to Incentivize Investment in American Communities
The IRS's proposed regulations clarify that any person that recognizes capital gain for U.S. federal income tax purposes is eligible to defer all or a portion of such gain by investing in an Opportunity Fund.
October 17, 2018
AEO Announces Hyacinth Vassell As Vice President of Innovation Engineering
AEO, a national nonprofit organization dedicated to the development of a robust marketplace for underserved microbusinesses, is proud to announce Hyacinth Vassell as Vice President of Innovation Engineering.