Congress Adjourns, Tax Reform on Agenda for Lame Duck Session

Sep 30, 2010 | Blog

The House and Senate adjourned on September 29 without action on an extension of the 2001 and 2003 tax cuts, punting consideration of estate tax reform and other expiring tax provisions until the post-election lame duck session. On the House side the early departure...

Tax Reform Unlikely Before Elections

Sep 23, 2010 | Blog

Senate Democratic leaders have indicated that a vote on tax reform is unlikely before the November elections, most likely punting income, capital gains, dividend and estate taxes into the post-election lame duck session. Senate Finance Committee Chairman Max Baucus...

Update from Capitol Hill

Aug 10, 2010 | Blog

On July 28, as the Senate began to move to the small business bill (HR 5297), Majority Leader Harry Reid (D-NV) objected to a request by Minority Leader Mitch McConnell (R-KY) to allow consideration of several amendments to the bill, including the Lincoln/Kyl motion...

Ways and Means Committee Moves GRAT Provision Forward

Aug 10, 2010 | Blog

March 17, 2010 – Today we attended the House Ways and Means Committee markup of H.R. 4849, the “Small Business and Infrastructure Jobs Tax Act of 2010”. As expected, Congressman Kevin Brady (R-TX) offered an amendment to strike the GRAT provision from the bill....

House Adjourns; Senate Makes Final Attempt on Small Business Bill

Aug 10, 2010 | Blog

On July 30 the House failed to reach the 2/3 vote required to pass the third small business bill (HR 5982) that included the harmful provision limiting the use of grantor-retained annuity trusts (GRATs). The vote was 241-154. The House then adjourned for the August...