Jan 17, 2018

Tax Policy Update


New Year, Same Drama. Lawmakers are facing yet another potential government shutdown — the current continuing resolution (“CR”) is set to expire on Jan. 19. Congress must pass another short-term funding bill to avert a shutdown. Despite weeks of negotiations, a long-term spending deal is still out of reach. The sticking points remain the same: discretionary spending levels, DACA, and border security.

Republican leaders are considering a CR through Feb. 16 with a six-year reauthorization for the Children’s Health Insurance Program or “CHIP.” Based on the House bill released last night, the new CR will also include a two-year delay of the medical device tax and Cadillac tax as well as a one-year delay of the health insurance tax. The bill may get a vote in the House as early as Thursday.

It is unclear, however, whether Senate Democrats will help pass another temporary funding patch without a fix for Dreamers whose legal status has been in limbo since the Trump Administration announced that it was ending the DACA program. Republicans would rather address the issue in a separate bill.

Click here to read the free version of this week’s Tax Policy Update.

Read below to find out how you can become a subscriber to the full version of the Tax Policy Update.

The McGuireWoods’ Tax & Financial Services Policy Group assists clients in understanding how the latest legislative and regulatory proposals and decisions may impact their business and industry. To learn more about how our team can help you monitor, analyze, and navigate all relevant legislative and regulatory developments, please contact any of our attorneys and consultants below at (202) 857-1700. For more information on how to subscribe to our weekly Tax Policy Update and tax news alerts, please contact Radha Mohan, , (202) 857-2944.

Russell Sullivan

Rosemary Becchi

Harold Hancock

Charlie Iovino
Vice President

Assistant Vice President 

Radha Mohan
Assistant Vice President 

Anne C. Starke
Research Associate

Daniel Chung