The Washington Wire Archive - The S Corporation Association

Rate Hikes Still in Play

The White House as recently as yesterday was actively pushing lawmakers to include a rate hike in Tuesday’s Ways & Means markup, with Commerce Secretary Howard Lutnick telling reporters the rate hike was a “smart” move. Then this morning President Trump appeared to back off the effort, posting the following:

An hour later NEC Director Kevin Hassett appeared on CNBC and when asked about the proposal said the President is “not thrilled about it…it’s not high on the President’s list.”

So it’s anyone’s guess where things stand over at the …

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admin2025-05-09T15:50:58+00:00May 9, 2025|

Main Street (Still) Opposes Rate Hikes

The buzz on K Street is that the White House has resumed its push for Congress to raise the top tax rate as part of the upcoming tax package. If you’re confused by this (possible) development, so are we.  Just a couple of weeks ago, the President signaled his opposition to rate hikes. Now they might be back on the table.

While that may be the case, it’s hard to envision a world in which a rate hike can pass either the House or the Senate this year. Most Republicans vigorously oppose such a move, as does Main Street.  Our …

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admin2025-05-08T19:48:26+00:00May 8, 2025|

Talking Taxes in a Truck Episode 42: Joe Lieber – Bullish on A Tax Deal

Joe Lieber is a founder and co-managing partner of Capitol Policy Partners, a veteran DC insider and a three-time TTT podcast guest! Joe kicks things off with an overview of the tariff debate and where he thinks things are headed, how the bond markets will react, and whether the levies can be rolled into the budget reconciliation package. We then turn to tax policy, where Joe gives his bull case for the massive tax and spending bill and how it will scale numerous hurdles to get to the President’s desk.

This episode of Talking Taxes in a Truck was …

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admin2025-04-30T22:08:28+00:00April 30, 2025|

Business Community Rallies Against B-SALT Proposals

The closer we get to a real tax bill, the louder the opposition to a possible B-SALT cap becomes. That’s a good thing, because the threat is real.

First, an explainer – lots of folks are talking about C-SALT (state and local taxes paid by corporations) deductions these days, but that’s a misnomer. There is no separate corporate policy regarding SALT deductions. If Congress caps C-SALT, it caps deductions for S corporations and other pass-throughs too. It’s the same deduction. So forget about C-SALT and talk about B-SALT instead, because we are all in the same boat here.

On the B-SALT front …

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admin2025-04-29T17:29:06+00:00April 29, 2025|

Chairman Smith Quashes Tax Hike Rumors

Missouri Congressman Jason Smith, who heads up the tax-writing Ways & Means Committee, was on Mornings with Maria yesterday to talk all things tax policy. The Chairman was asked about a so-called “millionaire tax,” and his response should give comfort to millions of Main Street businesses that would see their taxes increased under the ill-conceived proposal.

Here’s the key excerpt:

What has been discussed by news media – not within Congress but by news media – is that we might increase the top tax rate. What I’ve said all along is that …

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admin2025-04-22T16:08:11+00:00April 22, 2025|