Overview
Senate Finance Committee Holds Hearing on FY 2019 Budget Proposal: The Senate Finance Committee held a hearing today on the Administration’s fiscal year 2019 budget proposal. In his opening statement, Committee Chairman Senator Orrin Hatch (R-UT) restated his position that it is Congress’ responsibility to clarify and, if needed, fix questions in the 2017 Tax Cuts and Jobs Act. Ranking member Senator Ron Wyden (D-OR) criticized the Administration’s infrastructure plan as unworkable. Secretary Mnuchin stated: “The policies in this budget will drive down spending and grow the economy, which are both critical to putting the nation on a sound fiscal path over the long term and reducing the budget deficit as a share of GDP.”
OECD Releases Energy Tax Report: Today the Organisation for Economic Co-operation and Development (OECD) released Taxing Energy Use in 2018, a report analyzing energy taxation in 42 OECD and G20 countries. The OECD urged governments to make better use of energy tax policy to address climate change.