Senate Finance Committee Chairman Charles Grassley (R-IA) told reporters last week that momentum has stalled to extend a series of expired or soon-to-expire tax breaks for biodiesel production and other industries. “Whether it’s the biodiesel credit or any one of the other extenders – 27 today and five more are going to be added by… Read more »

The federal government took in $28 billion less in total tax receipts in 2019 than was initially projected, according to the Congressional Budget Office. The revenue decline may have been influenced by tax changes enacted in Republicans’ 2017 Tax Cuts and Jobs Act but CBO stopped short of saying that definitively. “In short, revenues in… Read more »

Congressional appropriators are weighing whether to extend current government funding into early February to avoid a budget fight during Democrats’ impeachment proceedings. The Senate has been having floor debate on bills to fund the government for fiscal 2020, but the pace of negotiations has been slow. Current short-term funding runs out Nov. 21 and it… Read more »

Democrats’ spending demands are dimming prospects for a year-end tax package, according to House Ways and Means ranking member Kevin Brady (R-TX). Brady told POLITICO that if there is tax legislation, he hopes it would include extenders and technical corrections to the 2017 GOP tax law. “I think it will be difficult to reach a… Read more »