This week, the Senate is preparing to take action on a bill passed by the House that would retroactively extend a variety of currently expired tax breaks, including Section 179 expensing and a host of other business credits.
Tag Archive: continuing resolution
The House may vote on a bill—as soon as today—that would extend for 2014 only the so-called tax “extenders,” while an omnibus spending package is expected to hit the House floor next week.
The post-election session begins on Wednesday, Nov. 12 and the current House and Senate leadership are busy assessing what they can and cannot accomplish among their hefty to-do list.
While the incoming Republican Congress is likely to make tax reform a priority--the lame duck session has a lengthy to-do list when it comes to spending and taxes.
Late last week, Congress passed the FY 2015 CR which will fund the government through Dec. 11 at current levels. Both chambers are now on recess until after the midterm elections in November.
The House is set to vote soon on a 10-week CR to keep the government running beyond Sept. 30, and includes language on ISIL. The Senate is expected to pass the measure quickly after the House.
Congress has less than ten legislative days before current government funds run out on Sept. 30, making one of their top priorities in coming days the passage of a continuing resolution to keep the federal government funded.
With only 21 days left until the Export-Import Bank of the U.S. charter expires, House Republican leaders are considering extending the Bank’s charter through June 2014 as part of a larger continuing resolution.
Lawmakers began their five-week August recess this week, leaving a great deal of work to be done upon their return in September in the approximately 12 scheduled legislative days before the Nov. 4 midterm elections.
Last week, both the House and the Senate passed their FY 2014 budget resolutions which are significantly different, and neither of which is expected to win approval in the other chamber, leaving agreement on a broader budget package up to leadership negotiations.