boehner - The S Corporation Association

What’s On Deck for the Rest of 2015

Speaker Boehner had a three step plan at the beginning of October: 1) Resign at the end of the month; 2) Clear the legislative decks of controversial and difficult items; 3) Turn the gavel over to a new Speaker to begin their tenure with a clean slate.

Looking back, he pretty much pulled it off. Sure, the Speakership went to Paul Ryan, not Kevin McCarthy, and not all the tough legislative items cleared Congress, but the simple fact is that Speaker Ryan begins his term with a much more manageable set of issues than the laundry list of must pass items …

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admin2019-02-01T19:59:04+00:00November 2, 2015|

Legislative Update

It’s been a busy week. First, Ways & Means Chair Paul Ryan yielded to a tremendous amount of peer pressure and agreed to run for Speaker. The Republican Conference vote to replace departing Speaker John Boehner is set for October 28^th and appears to be all but decided.

And now Boehner made good on his promise to clear off a bunch of “must pass” items before he left, announcing last night a deal with the White House to 1) raise the debt limit through March of 2017, 2) increase the spending caps on defense and non-defense discretionary for 2016 and …

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admin2019-02-01T19:59:04+00:00October 27, 2015|

GOP Leadership Fight Will Continue, Implications for Tax Reform

Well that didn’t go as planned.

House Majority Leader Kevin McCarthy’s surprising withdrawal from the Speaker’s race Thursday put an end to John Boehner’s carefully orchestrated plan to pass a raft of difficult bills this month, turn over the Speakers’ gavel to McCarthy on the 29^th, and ride off into the sunset.

We still expect Boehner to successfully negotiate deals on spending, debt limit and highways, but where does all the turmoil leave tax policy? Our friends at Tax Notes asked around and got this response:

Tax observers said McCarthy’s withdrawal makes it more difficult to achieve any kind of complicated tax legislation …

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admin2019-02-01T19:59:04+00:00October 9, 2015|

Legislative Update and Treasury’s Effective Rate Study

Legislative Outlook, Post-Boehner Announcement

Speaker Boehner’s announcement that he plans to retire at the end of October has implications for tax policy and next year’s spending levels. Here’s our outlook for both.

International Tax Reform: Lots of noise on the tax front. The latest rumors on the Ryan-Schumer plan to pair highway funding with international tax reforms are that:

The plan is complete and has been sent up to the Administration for their review and sign-off;
The plan is not finished and is hung up over a disagreement regarding how much to spend on highways;
The plan will be presented to the Ways & Means …

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admin2019-02-01T19:59:04+00:00October 2, 2015|

S-Corp Supports Plan B

Text of the letter we sent to Speaker Boehner earlier today:

Dear Speaker:

The S Corporation Association would like to thank you for all your work over the past two years to protect closely-held businesses and ensure that as Congress considers changes to the tax code, privately-owned businesses are not harmed or singled out.

With that in mind, the S Corporation Association supports H.J. Res. 66, the “Permanent Tax Relief for Families and Small Businesses Act of 2012.” While H.J. Res. 66 would allow tax rates to rise for S corporation owners with incomes above $1 million — something we oppose — …

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admin2019-02-01T20:11:24+00:00December 20, 2012|