Republicans Vying for Open Ways and Means Seat

Several House Republicans are in the mix for the open seat on the House Ways and Means Committee created by Rep. Tom Reed’s (R-NY) resignation earlier this week. Ways and Means, the chief tax-writing committee in the House, is a powerful and highly-coveted committee assignment. Rep. David Kustoff (R-TN) is reportedly a front runner for… Read more »

Schumer, Manchin Meet to Discuss New Tax Hike

Senate Majority Leader Chuck Schumer (D-NY) met this week with Sen. Joe Manchin (D-WV) to discuss a tax increase and deficit reduction bill to curb rising inflation. Manchin, who torpedoed Democrats’ Build Back Better spending package last year, is now open to raising the corporate tax rate to 25 percent and the capital gains tax… Read more »

Companies Could Pay Nearly 14% More Under Global Tax Deal

Companies worldwide could collectively pay almost 14% more in corporate income taxes each year under a global tax deal that could be implemented as soon as 2023, according to new estimates from the International Monetary Fund. The global tax deal, put forth by the Organization of Economic Cooperation and Development (OECD), would impose a 15… Read more »

Murphy Joining House Ways and Means

Rep. Greg Murphy (R-NC) is joining the House Ways and Means Committee, filling a vacancy following the resignation of Rep. Devin Nunes (R-CA) from the House. Murphy’s appointment was announced this week by Ways and Means Ranking Member Kevin Brady (R-TX). Murphy’s appointment is of interest to associations since Ways and Means has jurisdiction over… Read more »