taxes

Kevin Brady Drops Extenders, Adds Health Care Tax Rollbacks
House Ways and Means chairman deleted almost $30 billion in tax provisions

Rep. Kevin Brady, R-Texas, is eyeing two possible lame-duck tax vehicles. (Tom Williams/CQ Roll Call file photo)

House Ways and Means Chairman Kevin Brady has refashioned his year-end tax package to try to maximize GOP votes for a stand-alone bill, while dropping provisions the Senate could still pick up and pass this year, possibly as part of a huge wrap-up spending bill.

Brady, R-Texas, deleted $29.9 billion worth of tax provisions, collectively known as “extenders” because they are continually revived for a year or two at a time, that faced GOP opposition in the House. That includes one revenue-raiser disliked by the coal mining industry, which would extend the current tax they pay to support disabled miners with black lung disease; the tax would otherwise be slashed substantially next year.

Trump Presence Felt During Poignant Moments of Bush 41’s Funeral
Hillary Clinton ignores president before George W. Bush’s emotional eulogy for father

Former presidents, vice presidents, first ladies and President Donald Trump attend the state funeral of former President George H.W. Bush at the National Cathedral on Wednesday. (Chip Somodevilla/Getty Images)

President George H.W. Bush’s funeral, by design, was not about the sitting commander in chief, but there were moments when Donald Trump’s presence was paramount.

The 41st president’s son, George W. Bush, never mentioned the 45th president by name during his humorous and emotional eulogy for his father. But there were moments during his remarks that made clear the deep differences between the elder Bush and Trump.

A Contrast in Styles as Trump, Country Bid Farewell to George H.W. Bush
41st president’s 1992 defeat could offer lessons for 45’s expected re-election bid

President Donald Trump and first lady Melania Trump pay their respect at former President George H.W. Bush's casket in the Capitol Rotunda on Monday night. (Bill Clark/CQ Roll Call)

The late President George H.W. Bush will leave the Capitol for the final time Wednesday morning and make one last pass by the White House before his flag-draped casket is placed at the front of the National Cathedral for his state funeral farewell. Seated a few feet away will be a very different president, Donald Trump.

The late Republican president’s four years in office and 1992 defeat to an upstart Democratic governor from Arkansas, Bill Clinton, offer contrast to the incumbent’s raucous two years and lessons for his expected re-election bid. The two presidents’ work with Congress and legislative histories differ sharply, as do how they comported themselves — from Bush’s thoughtful letter-writing to Trump’s off-the-cuff tweeting.

SALT Still Rubs the Democrats’ Tax Wounds
Getting to a unified agenda on taxes won’t be easy for incoming majority

Virginia Democrat Jennifer Wexton criticized the the GOP tax overhaul for capping the SALT deduction used by many residents of her 10th District. But undoing the cap would create new complications for Democrats, Cohn writes. (Bill Clark/CQ Roll Call file photo)

ANALYSIS — A strange dilemma for the incoming majority House Democrats is encapsulated in a series of June tweets from Democratic candidate Jennifer Wexton on the six-month anniversary of the Republicans’ signature 2017 tax overhaul.

Rep.-elect Wexton, who ultimately defeated GOP Rep. Barbara Comstock in northern Virginia, wrote in an opening tweet that the bill “hurt working families by giving tax cuts to the wealthiest and blowing up our national debt.” In another, Wexton wrote that the law’s cap on state and local tax deductions “hits #VA10 families hard, yet @RepComstock still voted for the bill.”

Trump Blames Federal Reserve for Bad Economic News
President has departed from norms by criticizing the central bank

President Donald Trump is blaming Federal Reserve Chairman Jerome Powell for a slew of bad economic news. (Bill Clark/CQ Roll Call file photo)

President Donald Trump on Tuesday blamed Federal Reserve Chairman Jerome Powell for recent bad economic news that has critics training their fire on White House policies on trade and tax policy, claiming it is Powell’s fault that stocks are sliding and General Motors is laying off workers — and expressing regret over tapping him for the job.

“I’m doing deals and I’m not being accommodated by the Fed,” Trump told the Washington Post. “They’re making a mistake because I have a gut and my gut tells me more sometimes than anybody else’s brain can ever tell me.”

Van Hollen Complains of ‘Dark of Night’ House GOP Tax Bill
Dems plan to hold hearings on problems with tax code overhaul

Sen. Chris Van Hollen, D-Md., says a tax bill released Monday by House Republicans will get a cool reception. (Tom Williams/CQ Roll Call file photo)

Sen. Chris Van Hollen said a 200-page-plus tax bill released late Monday by House Republicans would receive a cool reception from Democrats.

“It was sort of put together in the same way their huge tax bill was put together, in the dark of night,” Van Hollen said, referring to the tax code overhaul  signed into law last December. Van Hollen’s comments came at a “Election Impact: Tax Policy in 2019,” a Roll Call Live event held at FiscalNote headquarters on tax policies expected to take center stage in the 116th Congress. 

Grassley Will Step into Tax Storm, Finance Gavel in Hand
Iowa Republican was a key player on big-ticket measures during his previous tenure as Finance chairman

Chairman Charles Grassley, R-Iowa, conducts a Senate Judiciary Committee markup in October. (Tom Williams/CQ Roll Call)

Sen. Charles E. Grassley is expected to be the next chairman of the Finance Committee, putting the Iowa Republican at the center of the storm in the 116th Congress on what could be divisive debates over tax, trade and health care policy.

Grassley cited a sense of “optimism” fueled by the “pro-growth” policies of a Republican president and Congress. “Looking ahead. ... I want to continue to work to make sure that as many Americans as possible get to experience this good economy for themselves,” he said in a statement released Friday. “That means working to provide Americans with additional tax relief and tax fairness so they can spend more of their hard-earned money on what’s important to them.”

Trump Predicts ‘Deal-Making,’ Many Fights Ahead With Democrats
First up, both sides face border funding test in lame-duck session

President Donald Trump talks to reporters Wednesday, the day after the midterm elections. (Mark Wilson/Getty Images)

President Donald Trump appears ready to make some deals — except when he’s threatening Democrats with “warlike” tactics.

Despite losing the House and several governorships in states that could be key for Trump’s 2020 re-election prospects, the president used a press conference last week to send widely divergent messages to lawmakers about just how much he wants to get done in the lame-duck remainder of the 115th Congress and after the 116th is seated in early January.

With an Ambitious Policy Agenda, Pelosi is Poised to Lead the House Again
Calls increased from Democratic incumbents and candidates asking for new generation of leaders

House Minority Leader Nancy Pelosi holds a news conference in the Capitol on Nov. 7, the day after Democrats had retaken control of the House. (Bill Clark/CQ Roll Call)

Basking in House Democrats’ midterm election wins, Nancy Pelosi is focused on the planks of the Democratic campaign platform that will become the new majority’s agenda: health care, infrastructure and cleaning up corruption in Washington.

But the California Democrat cannot escape questions about another theme that emerged on the campaign trail — opposition to her leadership.

Here’s All the House Republicans That Voters Sent Home
Incumbent losses cut across all factions of the Republican Caucus but most are moderates

Florida Republican Rep. Carlos Curbelo, pictured at Greenglade Elementary School polling place on Election Day in Kendale, Florida, is one of at least 19 House Republicans to have lost re-election. (Tom Williams/CQ Roll Call)

Updated on November 13 at 11:41 p.m. | Voters have sent 23 House Republican incumbents and counting home, as the predicted Democratic wave materialized in the lower chamber’s midterm contests. 

The losses cut across all factions of the Republican Conference but most of the incumbents going home after this term are moderate members. With the number of House Republicans shrinking next year, conservatives are poised to become a larger portion of the conference.