News

Concord is pleased to report the following breaking developments from D.C.:

Earlier today, Senate Finance Committee Chairman Orrin Hatch filed legislation that would extend a host of expired tax provisions. Section 179D would be extended through December 31, 2018 (with one-year retroactive to cover 2017).

Seeking to rewrite the script on what has been a year devoid of many signature legislative achievements, Washington Republicans are on the verge of passing the most substantial piece of tax legislation in three decades. Last week, in a show of legislative and political nimbleness that eluded Republicans during the Obamacare repeal debate, the Senate passed its version of tax reform – setting up the massive tax package for enactment before the end of 2017.

And the race is on. Less than two weeks ago, the GOP-controlled Congress fired the starting gun on a historic debate that has not occurred in more than 30 years. The full House already is poised to vote on their version of tax reform and the Senate Finance Committee will mark-up its package this week, all with an aim toward presenting the president a bill to sign by the end of 2017. Thus far, the pace of the race – controlled by Republican leadership and the chairs of the House and Senate tax-writing committees – suggests it will be a sprint to the finish. As GOP leaders enter what they hope will be the final stretch after Thanksgiving, they are sure to be met with challenges that quickly could turn this debate into a marathon.

The game is – finally, and officially – afoot. Months of anticipation and buildup culminated on September 27 when White House and GOP congressional leaders released their tax reform blueprint: Unified Framework for Fixing Broken Tax Code. The framework has helped to coalesce congressional Republicans (at least for the moment) behind the effort and, by the first week of November, we could see the passage of a budget resolution that will ease the procedural hurdles necessary to pass comprehensive tax reform. In this edition of the Concord Policy Primer, we will explore the next steps for Congress and the Trump Administration.

And so it begins… In this edition of the Concord Policy Primer, we will explore the latest developments in the tax reform debate and dive into Congress’ action packed legislative schedule in September and beyond.

Welcome to the first edition of the Concord Policy Primer, a monthly news bulletin designed to keep tax and industry professionals informed about tax policy developments in Washington. Prime Policy Group is proud to collaborate with Concord on this initiative, and we hope it will become a useful and insightful tool for those following the debates around tax reform and the Section 179D tax deduction. Prime is Washington’s leading bipartisan government affairs firm, offering decades of expertise in policymaking, strategic counsel, and direct advocacy.