Trump Touts ‘Phase Two’ Tax Bill

Republicans’ plan for a “phase two” tax bill is still short on details, but President Trump suggested this week that tax writers may lower the corporate tax rate even further. “One of the things we’re thinking about is bring the 21 percent [tax rate for corporations] down to 20,” Trump said on Fox News this… Read more »

House Rejects Compromise Immigration Bill

The House on Wednesday rejected a Republican immigration bill that would have offered young undocumented immigrants a path to citizenship, fully funded President Trump’s border wall and put an end to family separations at the Mexican border. The bill failed on a 301-121 vote despite the backing of Republican leaders and Trump, who tweeted that… Read more »

Senators Question IRS Nominee’s Experience

President Trump’s nominee to head the Internal Revenue Service (IRS), Beverly Hills tax attorney Charles Rettig, was questioned at length today by the Senate Finance Committee about his background and how he would lead a huge, service-focused agency facing challenges on several fronts. Senate Finance Committee Chairman Orrin Hatch (R-UT) said at the outset of… Read more »

House Hearing Explores Occupational Licensing

Lawmakers heard testimony June 20 on occupational licensing and its effects on economic growth, while acknowledging the issue should be left primarily to the states to determine whether over-regulation is creating barriers to employment. “Occupational licensing plays an important role in protecting consumers and ensuring high-quality service,” said Rep. Brett Guthrie (R-KY), who chairs the… Read more »

House Appropriators Boost IRS Funding

The House Appropriations Committee yesterday voted 28-20 to boost IRS funding to $11.6 billion for the 2019 fiscal year that starts Oct. 1. The $11.6 billion represents an increase of $186 million from the agency’s current funding level, with $77 million specifically tied to implementing the new tax law. The IRS requested about $400 million… Read more »