Leftovers pile up for year-end tax bill menu

Leftovers pile up for year-end tax bill menu-rollcall:  Incentives for clean energy and a tax break for companies’ research and development appear to be off the table for legislation moving this summer, raising the stakes for a potential year-end tax bill after the dust settles on the midterm elections.

Window closing for US to implement global corporate tax deal

Window closing for US to implement global corporate tax deal-rollcall:  With midterm elections fast approaching, Democrats’ window to follow through on the Biden administration’s plan for rooting out tax havens and raising taxes on global companies’ foreign profits may be closing.

Big companies look to Senate to ease budget bill’s minimum tax

Big companies look to Senate to ease budget bill’s minimum tax-rollcall: Some of the largest U.S. corporations are looking for new exemptions from the budget reconciliation bill’s minimum tax on income reported to shareholders, arguing it could depress economic activity, including financing pensions for millions of workers and investing in clean energy projects.

Tax changes keep coming as Democrats seek budget bill votes

Tax changes keep coming as Democrats seek budget bill votes-rollcall:  House Democrats’ latest version of their nearly $2 trillion budget reconciliation bill would add slimmed-down paid leave benefits and other programs dropped from the previous iteration, while trimming the duration of some clean energy incentives and cutting higher-income earners off from tax breaks for buying electric vehicles.

Billionaire tax gains momentum

Billionaire tax gains momentum-thehill:  Democrats are facing hurdles to making a new annual tax on billionaires’ investment gains a reality.  The proposal, championed by Senate Finance Committee Chairman Ron Wyden (D-OR), is seen as a way to help pay for the party’s social spending package while accommodating Sen. Kyrsten Sinema’s (D-AZ) opposition to raising tax rates.

Global tax deal could drive changes in Democrats’ budget plan

Global tax deal could drive changes in Democrats’ budget plan-rollcall:  As they work to raise taxes on U.S. companies doing business abroad, Democrats are considering honing some details to align with a landmark deal for other countries to charge similar levies and curb tax avoidance in the process.

House Democrats plan 26.5 percent corporate rate as part of multitrillion tax hike

House Democrats plan 26.5 percent corporate rate as part of multitrillion tax hike-politico:  House Democrats want to raise the corporate rate to 26.5 percent as part of nearly $3 trillion in tax increases to defray the cost of their next big spending package, while boosting to top rate for individuals to 39.6 percent.

Frontline, farm-state Democrats push back against Biden tax plan

Frontline, farm-state Democrats push back against Biden tax plan-rollcall: A group of 13 House Democrats, led by Iowa’s Cindy Axne and California’s Jim Costa, is pressing party leaders to exempt family farms from a tax increase President Joe Biden has proposed on inherited assets to help pay for new child care, education and other spending.

There's no case against medical device tax repeal

There's no case against medical device tax repeal - Despite the significant progress made last year in reforming the U.S. tax code, there are still a number of meaningful tax improvements left for Congress to address. The first is repealing the medical device tax.

In the Future, Kevin Brady Sees More Reconciliation

In the Future, Kevin Brady Sees More Reconciliation-rollcall: As Republicans near final passage of their tax overhaul package, House Ways and Means Chairman Kevin Brady said he plans to push the budget reconciliation tool they’ve used to advance the tax bill without Democratic support to further change the tax code.

Why Corker flipped on the tax bill

Why Corker flipped on the tax bill-politico: Days before his surprise announcement that he would support the GOP tax bill, Sen. Bob Corker had been summoning administration officials and economists to his office to see whether he could ultimately get on board with the plan.

Landmark GOP Tax Bill Poised for Final Passage

Landmark GOP Tax Bill Poised for Final Passage-rollcall: Republicans late Friday unveiled their final plan to overhaul the tax code, a sweeping measure that aims to lower taxes on businesses and individuals, open up parts of Alaska to oil drilling and roll back a key piece of the 2010 health care law.

Senate Tax Positions Prevail in Conference, House GOP Doesn’t Care

Senate Tax Positions Prevail in Conference, House GOP Doesn’t Care-rollcall: The tax overhaul conference report looks a lot like the Senate bill. Senate negotiators prevailed on most of the major issues — and House Republicans say they’re fine with that.

A Tax Conference Committee Meeting Mostly For Show

A Tax Conference Committee Meeting Mostly For Show-rollcall: Nothing against the members of the House and Senate attending Wednesday’s inaugural meeting of the conference committee finalizing the tax code overhaul, but it’s mostly for show and unlikely to be must-see television.

House Speaker Ryan says he believes upbeat Treasury tax study

House Speaker Ryan says he believes upbeat Treasury tax study-reuters: U.S. House Speaker Paul Ryan on Tuesday defended a one-page analysis by the Treasury Department that asserted a tax plan pushed by the Republican-led Congress would pay for itself in 10 years.

Congressional scorekeeper: House-passed tax bill wouldn't pay for itself

Congressional scorekeeper: House-passed tax bill wouldn't pay for itself-thehill: The tax bill House Republicans passed last month wouldn't produce enough revenue from economic growth to pay for itself, Congress's tax scorekeeper said in a 12-page report released Monday.

Tax Bill Is Likely to Undo Health Insurance Mandate, Republicans Say

Tax Bill Is Likely to Undo Health Insurance Mandate, Republicans Say-nytimes: House and Senate negotiators thrashing out differences over a major tax bill are likely to eliminate the insurance coverage mandate at the heart of the Affordable Care Act, lawmakers say.

Ryan says Republicans to target welfare, Medicare, Medicaid spending in 2018

Ryan says Republicans to target welfare, Medicare, Medicaid spending in 2018-washingtonpost: House Speaker Paul D. Ryan (R-Wis.) said Wednesday that congressional Republicans will aim next year to reduce spending on both federal health care and anti-poverty programs, citing the need to reduce America's deficit.

House conservatives almost topple tax vote

House conservatives almost topple tax vote-politico: House conservatives threatened to derail a key tax vote on Monday in an attempt to win more influence over the GOP's spending strategy, just four days before the deadline to fund the government.

As Tax Overhaul Looms, Senate Has Upper Hand

As Tax Overhaul Looms, Senate Has Upper Hand-rollcall: The Senate’s passage of a tax overhaul illustrated a fragile coalition of support that ironically provides the chamber with the upper hand headed into conference committee negotiations with the House.