On The Hill

Tax Update (July 22)

Tax Treaties On Tuesday (July 16), the Senate ratified a tax protocol that would amend a tax treaty with Spain, the first success after years of stalled efforts between the two countries. The protocol passed on a vote of 94-2, with Sen. Rand Paul (R-KY) and Sen. Mike Lee (R-UT) voting no. The Senate also…
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Health Update (July 22)

It was another busy week with healthcare in Washington, as there were significant bills marked up in the House Energy & Commerce committee that included getting rid of surprise medical bills, providing more transparency in the drug pricing process, and Medicaid funding in the U.S. Territories. Additionally, there was significant movement in the administration, as…
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Trade Update (July 22)

Trump Administration, Congressional Leaders Reach Spending Agreement Congressional leaders and the Trump administration have reached an agreement on overall spending levels with a two-year deal to raise budget caps. Treasury Secretary Steve Mnuchin added on Thursday (July 18) that a two-year debt limit increase would be part of the deal as well. Still, hurdles remain…
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Tax Update (July 16)

Digital Tax France has approved a tax on the revenues from some of the US’ largest tech companies, including Facebook and Amazon. The Office of the U.S. Trade Representative (USTR) will investigate France’s plan to impose a 3 percent tax on the revenue, which could ultimately lead to tariffs against the French. The USTR has…
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Health Update (July 16)

With the Congress back in session after their Fourth of July recess, there was a lot of movement in the healthcare world this week. The House Energy & Commerce Subcommittee on Health held a mark-up on numerous bills, most notably on surprise medical billing and Medicaid funding in the U.S. Territories. The House Oversight Committee…
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Trade Update (July 16)

Section 232 Update On Thursday (July 11), the World Trade Organization (WTO) said it has terminated disputes brought against the US Section 232 tariffs on steel and aluminum by Canada and Mexico. The decision came as a result of the US agreeing in May to remove the import tariffs on the two countries. In two…
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Tax Update (July 1)

Opportunity Zone Notice Notice 2019-42 amplifies Notice 2018-48, 2018-28 I.R.B. 9, which lists the population census tracts that the Secretary of the Treasury designated as qualified opportunity zones. This notice adds two additional census tracts in Puerto Rico that have been designated as qualified opportunity zones under § 1400Z-1(b)(3) of the Internal Revenue Code and…
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Health Update (July 1)

Senate HELP Committee Markup The Senate HELP Committee held a Wednesday (June 26) markup hearing to examine three bills: S. 1199, S. 1173, and S. 1895, with near-unanimous consent on the bills and amendments. S. 1895, the Lower Health Care Costs Act, was the only bill debated, and passed as amended with 20 ayes and…
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Trade Update (July 1)

USMCA’s Latest On Thursday (June 27), Rep. Earl Blumenauer (D-OR) said that despite recent forward momentum between the Trump administration and Congress to work out issues in the United States-Mexico-Canada-Agreement (USMCA), there won’t be enough time to get the deal approved this summer. The Trump administration hoped to pass the trade deal before Congress breaks…
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Tax Update (June 24)

Tax Extenders Package On Thursday (June 20), the House Ways and Means Committee held a markup of four tax bills. The markup included several provisions: expansions of tax credits for lower-income workers and families with children, and renewals of expired tax breaks for disparate interests which ranged from biodiesel blenders to craft beer producers.  The…
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The Week Ahead

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