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Today in Washington - December 10, 2018

December 10, 2018

Source: Jennifer (White) Mangone - Legislative Counsel


Today in Washington

December 10, 2018

 

FY19 Funding Deadline Punted to Next Week – Last week, Congress passed a two-week continuing resolution (CR), pushing the FY19 funding deadline to December 21. Lawmakers must come to an agreement on seven remaining unfunded bills to avoid a government shutdown. As a reminder, the CR maintains the unfunded bills at their FY18 funding levels.

 

Five Year Look Back Bill Headed to President’s Desk – The Small Business Runway Extension Act of 2018 (H.R. 6330) is headed to the President’s desk for his signature. The bill lengthens the time by which the U.S. Small Business Administration (SBA) measures business size through revenue from the average of the past three years to the past five years. The modification is designed to reduce the impact of rapid-growing years, which may prematurely size a business out of their size standard. The classification is used to determine eligibility for SBA resources and federal contract set-aside programs.

Lame Duck Tax Law Changes and Extenders  House Ways and Means Chairman Kevin Brady (R-TX) has proposed a lame-duck tax package that includes temporary tax breaks known as extenders and technical corrections to last year’s tax overhaul. That bill would make permanent a tax break for railroad track improvements, create a long-term extension and phaseout of the biodiesel and renewable diesel fuels credit, and renew several other temporary tax provisions. Senator John Thune (R-SD), a member of the tax-writing Senate Finance Committee said the Senate is working on a “skinny version” of a lame-duck tax bill that would also include extenders.

However, the House has not yet voted on the measure and it is not listed on the weekly schedule.

Hearings


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