Tag: carried interest

Capitol Hill

The House at a Crossroads for Reconciliation Bill

  • May 21, 2025
The “One, Big, Beautiful Bill” containing much of President Donald Trump and congressional Republicans’ domestic agenda, and which has bedeviled House Speaker Mike Johnson for most of the year, finally appears to be headed for a vote on the House floor.
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Agreement on Budget Resolution Clears Another Hurdle in Congressional Effort to Pass Tax Reform

  • April 16, 2025
Last week, Congressional Republicans made significant progress in their efforts to advance President Donald Trump’s tax and spending priorities, with House Republicans agreeing to the 70-page budget blueprint that lays out a fiscal framework for implementing the president’s border security, defense, energy and tax priorities.
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President Joe Biden’s Opening Shot in 2025 Tax Fight

  • April 3, 2024
On March 11, President Joe Biden submitted his FY 2025 Proposed Budget to Congress. Unlike prior year budget proposals, this one is a setup for an unavoidable tax debate in 2025, when many of the tax provisions enacted during the Trump administration in the Tax Cuts and Jobs Act of 2017 will expire.
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Major Tax Increases Proposed in Biden’s 2024 Budget

  • March 15, 2023
President Joe Biden submitted his proposed fiscal year 2024 federal budget to Congress on March 9. It contains numerous tax increases that repeatedly failed to clear the House of Representatives and Senate even when these chambers were controlled by Democrats. But the president’s budget submission makes sense if you acknowledge that its primary purpose is as a political messaging document, meant to provide a contrast between his administration and Republicans in advance of the 2024 presidential election.
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Congress Returns, But Focus Will Be on Midterms

  • September 7, 2022

The Senate is back in session this week, and the House of Representatives returns from its summer recess next week. But with the exception of a continuing budget resolution that needs to be passed by both chambers before an Oct. 1 deadline to prevent a government shutdown, the primary focus of both parties will be […]

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Reconciliation Redux and Carried Interest

  • August 3, 2022

redux: Latin, (from the verb reducere, meaning “to lead back”) can mean “brought back” or “bringing back.” A few weeks ago, Democratic hopes for a big bill that would enact President Joe Biden’s climate change agenda, among other things, seemed all but dead. West Virginia Senator Joe Manchin (D-WV) had publicly announced that recent inflation figures would […]

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