taxes

Congress Returns from Recess Focused on Funding

Members of Congress returned from their holiday recess this week to a government funded under yet another stop-gap measure that is set to expire on January 19. Fiscal year (FY) 2018 started October 1 and Congress has yet to pass any appropriation bills for the year. Before any of the proposed legislation can be sent to the President’s desk, Congress must come to an agreement on the top-line spending levels allowed by law. These budget caps will decrease in FY 2018 under the Budget Control Act through sequestration, unless Congress passes a deal to increase the spending levels. The renewed…

Congress Passes Two-Week Stopgap Funding Bill, Returns to Debate Spending and Taxes

Congress passed a continuing resolution (CR) on the evening of December 7 to continue federal appropriations through December 22, averting a partial government shutdown. The extension of fiscal year (FY) 2017 funding levels through this CR will give Congress more time to finalize FY 2018 spending and come to agreement on raising spending caps set in place by the Budget Control Act. While the House of Representatives has finished work on all twelve of its spending bills, the Senate has yet to vote on any, referencing a lack of agreement on overall spending levels. In addition to finalizing spending for…

GOP Tax Plan Could Hurt Students, NDD Programs

Several provisions contained in the tax plans rolled out by Republican leadership this month have raised concerns for stakeholder groups that do not normally weigh in on tax policy. The House’s plan, the Tax Cuts and Jobs Act (H.R. 1) was approved by the Ways and Means Committee on November 9 and is expected to be debated on the House floor later this week. The Senate Finance Committee began its markup of  the Senate plan on Monday and will continue its consideration of the bill today. There are significant differences between the two plans that would need to be worked out during…

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