Both the House and Senate passed a continuing resolution today to fund the government for two weeks, through Dec. 21, to allow more time to negotiate funding for nine Cabinet departments and dozens of smaller federal agencies. President Trump has said he will sign the stopgap funding measure, but he still wants $5 billion for… Read more »

Time is running short for this Republican-controlled Congress to pass a substantial new tax package, but ASAE is still urging lawmakers to repeal a provision in last year’s tax law that forces nonprofit institutions to pay a 21 percent tax on parking and transportation benefits for their employees. House Ways and Means Committee Chairman Kevin… Read more »

ASAE sent a letter to the Treasury Department earlier this week asking the department to mitigate the impact of a 21% excise tax on certain tax-exempt executive compensation, enacted as part of last year’s Tax Cuts and Jobs Act (TCJA). As ASAE explained in a letter to members, the tax might appear to impact only… Read more »

Democratic leaders say their first legislative proposal when they take control of the House in January will center on campaign finance reform, closing loopholes in government ethics laws and reducing the influence of outside money in politics. House Minority Leader Nancy Pelosi (D-CA), who was nominated by House Democrats this week to serve as the… Read more »

Plans for a European Union (EU)-wide digital tax on big technology companies like Google, Amazon and Facebook fell apart this month when several European countries objected to the proposal. The push to adopt an EU-wide digital tax was led largely by the UK, France and Germany who want to tax tech companies earning profits in… Read more »

President Trump said this week he would “totally be willing” to shut down the government if Congress does not approve at least $5 billion for his wall on the U.S.-Mexico border as part of a year-end spending deal. Congress is facing a Dec. 7 deadline to pass legislation funding the Homeland Security Department, the State… Read more »

House Ways and Means Committee Chairman Kevin Brady (R-TX) last night offered a “manager’s amendment” to his year-end tax package which includes a full repeal of UBIT on qualified transportation and parking fringe benefits provided by tax-exempt organizations. Included in last year’s Tax Cuts and Jobs Act, the provision forces tax-exempt groups to pay tax… Read more »

Congress is still at odds over border security funding and leaders are now weighing fallback plans should no agreement be reached when government funding runs out on Dec. 7. Congressional leaders are increasingly frustrated that a partial government shutdown is potentially two weeks away, particularly because both parties have already largely agreed to spending levels… Read more »

Sen. Chuck Grassley (R-IA) last Friday confirmed his interest in serving as chairman of the Senate Finance Committee when the 116th Congress is seated in January. Grassley currently chairs the Senate Judiciary Committee but wants to return to the tax-writing committee he chaired briefly in 2001 and then from 2003 to 2007. Under Senate Republican… Read more »