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Today in Congress: House Set to Consider Year-End Tax Package

House Majority Leader Kevin McCarthy (R-CA) has queued up another attempt to vote on a year-end tax package (text; summary) this week following an additional revamp designed to win broader support. The latest version of the bill restores an extension of two expired tax breaks: one for a biodiesel tax credit and another for a railroad track maintenance credit. The bill also contains a host of key health care provisions — including a five-year delay of the medical device tax (until Dec. 31, 2024), a two-year delay for the health insurance tax (until Dec. 31, 2021), and a one-year delay for the “Cadillac” tax (until Dec.

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Financial Services Report (12/17)

Our Take Many believe that the overarching theme of Congress 2019 will be one of gridlock, with little legislative action expected to ultimately end up on the President’s desk – save perhaps an infrastructure and data privacy legislation.   And to the casual observer, that may ultimately appear to be correct, but beneath the surface Democrats are going to be doing a lot of work.  This will take the form of an oversight agenda that may be broadened to take into account businesses and industries beyond those connected to or adjacent the Trump organization.  It will also be true for legislative initiatives, as sophisticated actors are working with both 2019 and 2021 in mind.