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Category Archives: Legislation

House or Senate Tax Bills Would Still Add to Debt

JCX-58-17 (November 16, 2017) – Distribution Effects Of The Chairman’s Modification To The Chairman’s Mark Of The “Tax Cuts And Jobs Act,” Scheduled For Markup By The Committee On Finance On November 16, 2017.

  • Committee for a Responsible Federal Budget Budget – Dynamic Scoring Confirms: House or Senate Tax Bills Would Still Add to Debt: “As more dynamic estimates of the Tax Cuts and Jobs Act (TCJA) are released, they all confirm that tax cuts do not pay for themselves. Because both the House and Senate versions of the TCJA add to the national debt, they will only improve economic growth very modestly over the long term – less than they would have if they were completely paid for. Most recently, the Penn Wharton Budget Model (PWBM) estimated the growth effects of the Senate tax bill. PWBM found that the Senate bill (as introduced) would increase the annual average growth rate by between 0.03 and 0.08 percentage points over a decade, generating between $104 billion and $359 billion of dynamic revenue. However, because the resulting faster growth would increase federal spending on interest on the debt and on programs connected to inflation, the additional economic effects would reduce the ten-year debt impact of the bill by between $27 billion and $171 billion.”
  • Washington PostAfter clearing House, GOP tax plan faces obstacles in Senate – Senate Republican leaders are struggling to find enough support for their bill. Multiple Republicans have expressed reservations about the plan, which would permanently reduce the corporate tax rate but allow cuts for households and individuals to expire. The plan would also repeal the Affordable Care Act’s individual insurance mandate.”
  • Wonkblog: What’s in the House bill
  • Senate bill would cut taxes for millionaires but hike them for the poor, working class, report shows

Can Congress Limit the President’s Power to Launch Nuclear Weapons?

Do you ever think…I sure am grateful for the experts at CRS who are regularly providing top notch, comprehensive, accurate, timely subject matter specific research on demand to Congress (that is still not available directly to the public). Every week as we are reading (and/or listening to) news pertaining to critical issues that impact our… Continue Reading

DavisPolk Posts Updated Tax Bill Navigator Tool

Tax Reform and Transition Blog: “An updated version of the Tax Bill Navigator is now available, which reflects the draft House bill, including all amendments adopted by the House Ways and Means Committee as of the morning of November 8th, 2017.  You can find the updated Tax Bill Navigator here. We have also generated a PDF comparison… Continue Reading

Brief Preliminary Distributional Analysis of the “Tax Cuts and Jobs Act”

“The Tax Policy Center has produced preliminary distributional estimates of the Tax Cuts and Jobs Act as introduced on November 3, 2017. We find the legislation would reduce taxes on average for all income groups in 2018 and 2027. The largest cuts, in dollars and as a percentage of after-tax income, would accrue to higher-income… Continue Reading

EFF – Here’s How Congress Should Respond to the Equifax Breach

“There is very little doubt that Equifax’s negligent security practices were a major contributing factor in the massive breach of 145.5-million Americans’ most sensitive information. In the wake of the breach, EFF has spent a lot of time thinking through how to ensure that such a catastrophic breach doesn’t happen again and, just as importantly,… Continue Reading

GPO and LC release digitized version of Congressional Record 1891-1911

“The U.S. Government Publishing Office (GPO) partners with the Library of Congress to release the digital version of the bound Congressional Record from 1891-1911 on GPO’s govinfo (https://www.govinfo.gov/app/collection/crecb_gpo/_crecb). This release covers the debates and proceedings of the 52nd through the 61st Congresses. This era of Congress covers historical topics such as: The final two years… Continue Reading

Some “Acting” Officials in the Federal Government Will Authority

Steve Aftergood – Secrecy News, November 6, 2017: “Some government officials who are serving on an “acting” basis because a permanent replacement has not yet been named will lose their ability to function this month when their legal authority is nullified under the terms of the Vacancies Act. In the Trump Administration there are hundreds… Continue Reading

HR 1 – Tax Cuts and Jobs Act 2017

115th Congress 1st Session, H.R. 1 [released on November 2, 2017] PDF 429 pages Section-by-section summary House GOP outline JCX-46-17 (November 02, 2017) Estimated Revenue Effects Of H.R. 1, The “Tax Cuts And Jobs Act,” Scheduled For Markup By The Committee On Ways And Means On November 6, 2017 Committee for a Responsible Federal Budget… Continue Reading

Wharton – How a Lower 401(k) Cap Could Cause More Harm Than Good

[email protected] – “The Republican tax overhaul is a plan in search of revenue – and one solution that appears to be under consideration for covering the proposed cuts is lowering the cap on pre-tax contributions to 401(k) retirement savings plans. More than 62 million Americans have put money into 401(k) retirement plans, according to The… Continue Reading

Study: GOP tax plan would cost $2.4 trillion

The Hill – GOP tax plan will explode deficit: “The Republican tax plan expected to be released this week will explode the deficit, according to a study from the University of Pennsylvania’s Wharton School released Monday. The study, which relies on the Penn Wharton Budget Model (PWBM), found that the deficit would increase by $1 trillion… Continue Reading

Non partisan resources on tax code reform for researchers

Committee for a Responsible Budget: “Efforts to reform the tax code are underway, and they will pick up further this fall when the legislative process formally begins. CRFB has published several resources on recent tax reform plans, policies that may be included, gimmicks lawmakers may use, the status of the current tax code, and other… Continue Reading

Writing the Law: Developing the ‘Citizen Lawyer’ Identity Through Legislative, Statutory, and Rule Drafting Courses

Schiavone, Ann L, Writing the Law: Developing the ‘Citizen Lawyer’ Identity Through Legislative, Statutory, and Rule Drafting Courses (2017). Duquesne Law Review, Vol. 55, No.1, 2017; Duquesne University School of Law Research Paper Series 2017-03. Available at SSRN: https://ssrn.com/abstract=3041371 “At the time of the American Founding, Thomas Jefferson, among others, viewed lawyers as the class… Continue Reading