Overview
Extenders May Be Added to Funding Resolution: The House Rules Committee has published a committee print of the text of the House amendment to the Senate amendment of H.R. 1892 showing the text of a further extension of the Continuing Appropriations Act of 2018. The House amendment contains a tax provision which would facilitate the Senate’s adding an extenders package to the continuing resolution.
2018 Pension Plan Limitations Not Affected by Tax Cuts and Jobs Act: Today, the IRS announced that the tax reform provisions adopted in late 2017 do not affect the tax year 2018 dollar limitations for retirement plans as detailed in Notice 2017-64. Earlier coverage of Notice 2017-64 is available here.
Miscellaneous Cryptocurrency Items:
Bank for International Settlements Urges Action on Cryptocurrencies: In a lecture presented today, the general manager of the Bank for International Settlements (BIS) Agustín Carstens urged authorities to be prepared to act regarding cryptocurrencies in order to protect consumers and investors. Mr. Carstens said that central banks should play a key role because in order for money to keep its value, it must be backed by accountable, trusted institutions.
Senate Banking Hearing: Today, the Senate Committee on Banking, Housing, and Urban Affairs held a hearing on cryptocurrencies and the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission. SEC Chairman Jay Clayton and Commodity Futures Trading Commission Chairman J. Christopher Giancarlo both testified about steps their agencies are taking to regulate the cryptocurrency markets.