31 Search results found for: “fiscal cliff”

House to Pass Tax Extenders

December 4, 2014

The House is set to consider HR 5771, the Tax Increase Prevention Act today. The measure would retroactively extend more than 50 expired tax breaks for one year. It would renew the individual deduction for state and local sales taxes and the equalization of tax-free benefits for transit and parking, the business research and development tax credit, bonus depreciation and other expensing rules along with the work opportunity tax credit. Most of the renewed tax extenders, notably the R&D and tuition tax credits,…

Congress Back in Session

April 8, 2013

Congress reconvenes this week after a two-week recess. Congress will be looking at the President’s Budget Request, and also wrestling with the debt ceiling, which is expected to expire yet again, this time in mid May. Also on the agenda this week (and through the month of April):  immigration reform, gun control/safety, and FY14 appropriations. Tuesday The Senate Budget Committee holds a confirmation hearing for Office of Management and Budget Director nominee Sylvia Mathews Burwell. The Senate Energy and Natural…

Big Budget Week Ahead

March 11, 2013

The Senate will take action on a continuing resolution (CR) this week to fund federal government through the end of FY 2013. The current CR expires on March 27th. The Senate bill expands on the House version that was approved in that chamber last week, which combines new Defense and Military Construction-VA bills with a stopgap CR for the rest of the federal agencies. The Senate version will contain three additional spending bills — Agriculture, Commerce-Justice-Science, and Homeland Security. House…

President’s FY 2014 Budget Delayed Again

March 9, 2013

President Obama will release his FY 2014 budget on April 8th, more than two months late. Under the law, the President must submit a budget by the first Monday in February. Congressional sources said last week that they had been told the budget was coming on March 25th, meaning the new April 8th release date would be yet another delay. The White House has blamed the hold-up on the uncertainty caused by fights over the fiscal cliff, sequestration, and the…

The Week Ahead

February 8, 2013

Both the House and Senate are out of session today. The Senate returns to work at 2:00pm Monday and will vote on a series of amendments to the Violence Against Women Act (S 47). A vote on final passage could come as early as Monday night. The House returns to work on Tuesday. President Obama will deliver his State of the Union address on Tuesday evening. It is widely expected that he will focus on fiscal issues, including the deficit…