Tax Policy Center: “The Tax Cuts and Jobs Act is working its way through Congress. On November 9, the House Ways and Means Committee passed a version of the Tax Cuts and Jobs Act (link is external) and the entire US House of Representatives passed its version of the bill (link is external)on November 16.… Continue Reading
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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:… Continue Reading
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
Group Uses Little-Known Law to Force Trump Administration To Correct Misleading, Unreliable Statements on Tax Proposal
As Administration Uses Misleading Statistics on Impact of Tax Plan, DF Invokes the Information Quality Act to Ensure Public Has Facts: “Democracy Forward invoked the little-known Information Quality Act (“IQA”) to file a petition with the Department of the Treasury (“Treasury”) demanding the agency correct, within 60 days, unreliable and misleading statements issued by Secretary… 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
Knowledge@Wharton – “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
