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Budget & Tax Policy Outlook

The agreement earlier this month between Senators Reid and McConnell reopened the government for a few months, but it failed to resolve any of the issues that precipitated the shutdown in the first place.B Thereb s still no consensus on spending levels or tax policy beyond the end of the year.B Key dates in the agreement are:

  • December 13th — Target for budget conferees to agree to a uniform budget
  • January 15th — Current government funding resolution (CR) expires
  • February 7th — Debt limit reached again

At this point, agreeing to a budget resolution would be a big deal.B Not only could

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2019-02-01T20:19:44+00:00October 31, 2013|

Tax Outlook

The conventional wisdom in the press is that the agreement on the fiscal cliff killed tax reform. By making permanent so many tax policies — including the AMT treatment and estate tax rules — the deal deprived policymakers of catalysts for doing something big on taxes later this year.

That view may prove correct, but there remain several good reasons to believe taxes will be a big part of the policy conversation moving forward, including:

  • Debt Limit: The debt limit fight hasn’t been avoided, just delayed. Congress will need to raise the limit prior to the August break, setting up a redo

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2019-02-01T20:11:41+00:00February 5, 2013|