Article

Today In Washington

November 28, 2017

Source: AEO Government Relations Team, Madison Services Group


Tax Reform: Ready, Set, Go!  

Today, the Senate Budget Committee is scheduled to vote on the Senate GOP version of the “Tax Cuts and Jobs Act.” The vote is expected to be close. Senator Ron Johnson (R-WI), a Committee member, has come out against the bill amid concerns that it does not do enough for pass-through entities. Senator Bob Corker (R-TN), who also sits on the Senate Budget Committee, has indicated that he could vote against the bill amid concerns about the deficit. The GOP holds a slim one-seat majority on the Committee, making today’s vote a crucial test of the viability of the Senate tax reform package. President Trump is expected to attend a Senate GOP lunch to rally support.  

Appropriations Watch

Today, President Trump is scheduled to meet with House Speaker Paul Ryan (R-WI), Senate Majority Leader Mitch McConnell (R-KY), House Minority Leader Nancy Pelosi (D-CA) and Senate Minority Leader Chuck Schumer (D-NY) in separate meetings to discuss a way forward on government spending for the balance of FY 2018. The federal government is operating on a Continuing Appropriations Resolution (CR) that expires on December 8.   

Microbusiness in America 

Yesterday, the SBA Office of Advocacy released a report on the impact of microbusiness on the national economy. Some takeaways:

  • Microbusinesses accounted for 11% of the 13.7 million new jobs between 2010-2016.
  • In 2014, 64% of microbusinesses were over five years old and accounted for 67% of microbusiness employment.
  • America’s 3.8 million microbusiness employers made up 74.8% of all private sector employers in 2016, and they provided 10.3% of the private sector jobs. 

Small Business & Tax Reform

Today at 10:30, Senate Small Businesses & Entrepreneurship Committee Chair Jim Risch (R-ID), Small Business Administration (SBA) Administrator Linda McMahon and small business advocates will host an event to highlight the importance of tax reform for America’s small businesses. You can find the Committee announcement here.  

Hearings

Tomorrow @ 2:30 p.m.: Senate Budget Committee hearing - “To Consider FY 2018 Reconciliation Legislation.” 608 Dirksen Senate Office Building.


Share this...

Recent News

February 20, 2018
Today in Washington
President’s Day Recess – Congress is out of session for the week, and will to Washington on Monday, February 26.

February 15, 2018
Today in Washington
SBA Nominations Hearing – Yesterday, the Senate Small Business & Entrepreneurship Committee held a hearing on the nominations of David C. Tryon as Chief Counsel of the SBA Office of Advocacy, and Hannibal M. Ware as SBA Inspector General.

February 14, 2018
Today in Washington

February 13, 2018
Today in Washington
White House FY19 Budget Released – Yesterday, President Trump released his FY19 Budget Request. As a reminder, the President proposes, Congress appropriates.

February 12, 2018
Today in Washington
White House FY2019 Budget Request – Today, the White House is expected to send its FY2019 Budget Request to Congress. We will provide a breakdown once it is publicly released.

February 9, 2018
Today in Washington
Budget Watch: After missing the midnight deadline and a brief partial government shutdown, Congress passed a two-year budget agreement in the early hours of the morning.

February 8, 2018
Today in Washington
The Budget – Wait and See: The Senate is set to take up a bipartisan spending agreement this morning that would raises existing budget caps on defense and non-defense spending and suspend the debt ceiling until March 2019.

February 7, 2018
Today in Washington
All Eyes on the Senate – Yesterday, the House passed a continuing appropriations resolution (CR) to fund the government through March 23. Today, the Senate hopes to reach a similar budget deal.

February 5, 2018
Today in Washington
Short Week for Congress – Congress is scheduled to adjourn on Wednesday for the Democratic legislative retreat.