On The Hill

Tax Update (January 14)

Shutdown Showdown   The Treasury Department cancelled its Opportunity Zone hearing which was scheduled for Thursday (Jan. 10), but furloughed Internal Revenue Service (IRS) employees may soon be recalled. The Opportunity Zones were created as part of the Tax Cuts and Jobs Act (TCJA) of 2017. Senate Finance Chairman Chuck Grassley (R-IA) endorsed the Trump administration’s…
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Trade Update (January 14)

US-China Trade Relations   Deputy US Trade Representative (USTR) Jeffrey Gerrish and a team of trade negotiators met with Chinese officials in Beijing this week (Jan 7-9). Originally scheduled for just two days, the talks were extended to three days and China’s top trade negotiator Liu He stopped by “to say hello.”[1] After the talks, both countries…
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Health Update (January 14)

Government Shutdown   21 days in, it appears that the negotiations to end the partial government shutdown continue to stall. During a Wednesday meeting with Senate Minority Leader Chuck Schumer (D-NY) and House Speaker Nancy Pelosi (D-CA), President Trump abruptly ended the meeting, citing the Democrats’ refusal to offer border wall funding as a “total waste…
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Tax Update (January 7)

New Senate Finance Members   Yesterday (Jan. 3), Senate Majority Leader Mitch McConnell (R-KY) released the full list of committee assignments for Republican members in the Senate. The Senate Finance Committee has three new Republicans members for the 116th Congress: James Lankford (R-OK), Steve Daines (R-MT) and Todd Young (R-IN). A full list of the…
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Trade Update (January 7)

116th Congress   On Thursday (Jan 3), the 116th Congress was sworn into office and Senate Majority Leader Mitch McConnell (R-KY) announced the Republican committee assignments. Senators James Lankford (R-OK), Steve Daines (R-MT), and Todd Young (R-IN) will all join the Senate Finance Committee. Senator Chuck Grassley (R-IA) received a formal nomination to serve as Chairman of…
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Health Update (January 7)

New Congress   The 116th Congress kicked off yesterday, officially ending unified Republican control of both chambers of Congress and the White House. Congresswoman Nancy Pelosi (D-CA) reclaimed the speakership with 220 votes, becoming the most recent Speaker of the House to reclaim the title since Sam Rayburn in 1955. She remains the only woman who has…
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Tax Update (December 14)

BEAT Regulations: On Thursday (Dec 13), the United States Treasury Department and the Internal Revenue Service released the much awaited regulations on the base erosion and anti-abuse tax, also known as the BEAT provision. Section 59A, enacted by the Tax Cuts and Jobs Act (TCJA), imposes on each applicable taxpayer a tax equal to the…
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Trade Update (December 14)

Common Alloy Aluminum Sheet from China  The Trump administration initiated an investigation into imports of common alloy aluminum sheet (CAAS) from China in 2017. It was the first antidumping (AD) and countervailing duty (CVD) trade case self-initiated by the US government since 1985. On Friday (Dec 7), the US International Trade Commission (USITC) determined that CAAS from China…
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Health Update (December 14)

Tax Package On Monday, Ways and Means Chairman Kevin Brady (R-TX) released the latest version of a tax bill, a fourth quarter effort to pass a tax package before the end of the year. The clock is ticking for House Republicans to pass legislation while they are still in the majority, and it does not seem…
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Trade Update (December 7)

Remembering President George H.W. Bush (41st US President) This week, Washington, D.C. took time to honor the life of former President George H.W. Bush, who died last Friday night at the age of 94. From Monday until Wednesday morning, the former president laid in state in the U.S. Capitol Rotunda, and thousands of Americans came to…
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Tax Update (December 7)

Remembering 41 This week, Washington, D.C. took time to honor the life of former President George H.W. Bush, who died last Friday night at the age of 94. From Monday until Wednesday morning, the former president laid in state in the U.S. Capitol Rotunda, and thousands of Americans came to pay their respects. On Wednesday morning, a…
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Health Update (December 7)

Remembering 41 This week, Washington, D.C. took time to honor the life of former President George H.W. Bush, who died last Friday night at the age of 94. From Monday until Wednesday morning, the former president laid in state in the U.S. Capitol Rotunda, and thousands of Americans came to pay their respects. On Wednesday morning, a…
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Tax Update (November 30)

The Fate of Extenders   Ways and Means Chairman Kevin Brady’s (R-TX-08) year-end tax bill is on life support after being pulled from the House floor today. Republican leadership is blaming low attendance and steering committee scheduling, but it’s more than likely Republicans did not have the votes. Even if the bill can be resurrected…
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Trade Update (November 30)

  US-Mexico-Canada Agreement (USMCA)   President Donald Trump, Mexican President Enrique Peña Nieto, and Canadian Prime Minister Justin Trudeau signed the USMCA in Buenos Aires on Friday (Nov 30). All three leaders are in Argentina for the G-20 summit.   The signing was largely ceremonial as the three countries still need to ratify the agreement before…
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Health Update (November 30)

2019 House Calendar   The incoming House Democratic leadership team has released the 2019 legislative work schedule. The House schedule for the first session of the 116th Congress can be viewed here.   Prescription Drug Comments, Rules, and Litigation   The Food and Drug Administration (FDA) is requesting public comment on creating new software applications for…
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