Another Update on Government Funding

Congress and the Administration have until midnight Friday, December 22, to fund the Government.

The House of Representatives (Jan. 3 file photo).As you know, funding for federal agencies will expire Friday night, December 22, at midnight. To date, Congress has been focused on tax legislation. Now that the tax bill has passed both chambers, negotiations are underway for a government funding deal. However, at this time, with just two days left before a lapse in appropriations, the path forward is unclear. Continue reading “Another Update on Government Funding”

Congress Clears Tax Legislation

The U.S. Congress has passed tax legislation to change the tax code.

U.S. CapitolIn the middle of last night, the U.S. Senate passed the tax conference committee’s agreement (Conference Report for H.R.1) to make large-scale changes to the U.S. tax code by a party line vote of 51-48. Late yesterday, the Senate Parliamentarian ruled that three tax provisions contained in the tax legislation violated certain Senate budget rules, and therefore had to be removed prior to Senate floor consideration. Given these last minute changes, the House of Representatives was required to re-consider the amended tax measure, which has now passed the chamber (224 to 201). The tax legislation is now headed to the President for his signature. Continue reading “Congress Clears Tax Legislation”