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Tax Update (October 16)

OECD Releases Pillar One ‘Blueprint’ for Global Digital Tax On Wednesday (Oct.9), the Organisation for Economic Cooperation and Development (OECD) released a proposal for Pillar One of the Programme of Work (PoW) adopted by the Inclusive Framework on BEPS in May 2019. Pillar One outlines the Secretariat Proposal for a “unified approach” while addressing the…
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Health Update (October 16)

Healthcare headlines were scant this week, as Congress was out for its recess and set to return next week. House Ways & Means Chairman Richard Neal (D-MA) announced that the committee will hold a hearing next week on House Speaker Nancy Pelosi’s (D-CA) drug pricing bill (H.R. 3). Additionally, the Center for Medicare and Medicaid…
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Trade Update (October 16)

U.S., China Reach Partial Trade Agreement The United States and China reached a partial agreement on Friday (Oct. 11) that could potentially lead to a truce in the ongoing trade war between the two superpowers. Chinese Vice Premier Liu He, the nation’s top trade official, met with U.S. Trade Representative Robert Lighthizer and Treasury Secretary…
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Tax Update (October 7)

Several pieces of taxation legislation were released in recent weeks, including a proposal to repeal the excise tax on university investment income and two separate tobacco tax bills. In other tax news, House members have united to push lawmakers in the Senate to vote to repeal a tax on Gold Star military families. Additionally, Puerto…
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Health Update (October 7)

As the impeachment inquiry into President Trump continues to seize the headlines in Washington, Speaker Nancy Pelosi’s (D-CA) “Lower Drug Costs Now Act” continued atop healthcare matters for the week, as Congress began its first of two weeks in recess. Additional headlines included Ways and Means Chairman Richard Neal’s (D-MA) new approach to surprise billing…
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Trade Update (October 7)

U.S. Awarded $7.5B by WTO in Boeing-Airbus Dispute On Wednesday (Oct. 2), the World Trade Organization (WTO) ruled the U.S. can issue punitive tariffs on roughly $7.5 billion of goods from the European Union (EU). The award, the largest-ever award issued by the trade body, stems from a Section 301 investigation “EU Large Civil Aircraft”…
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Tax Update (September 30)

Carbon Tax On Thursday (Sep. 26) Rep. Brian Fitzpatrick (R-PA) introduced a carbon tax bill that would put a price on carbon and invest the revenue in infrastructure. The legislation is similar to the “MARKET CHOICE Act,” a carbon tax bill authored by former representative Carlos Curbelo of Florida. Fitzpatrick co-sponsored that bill, which would…
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Health Update (September 30)

Speaker Nancy Pelosi’s (D-CA) recently unveiled drug pricing plan, the Lower Drug Costs Now Act of 2019 (H.R. 3), had hearings this week in both the House E&C and Ed.& Labor Committees. However, it is likely to take a backseat on Capitol Hill with the recent impeachment inquiry led by House Democrats into President Trump.…
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Trade Update (September 30)

Shutdown Averted…For Now  On Thursday (Sep. 26), the Senate passed a stopgap bill to fund the federal government through Nov. 21, setting up a holiday spending-showdown similar to last year’s. The FY 2020 Commerce-Justice-Science spending bill includes new funding levels for the Commerce Department, United States Trade Representative (USTR), and other agencies. Commerce will receive…
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Tax Update (September 24)

2017 Tax and Jobs Cuts Act (TCJA) Faces Renewed Criticism Democratic lawmakers are stepping up their criticism of international provisions of the TCJA, specifically the addition of a tax on Globally Intangible Low-Taxed Income (GILTI). The criticism stems from research suggesting this provision may already be pushing jobs offshore. However, data on the law’s economic…
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