Daily Tax Update - February 16, 2017: Gorsuch Hearing to Begin March 20

Gorsuch Hearing to Begin March 20:  Today, Senate Judiciary Committee Chairman Chuck Grassley (R-IA) announced that the hearing for Judge Neil Gorsuch to be an associate justice of the US Supreme Court will begin on March 20.  The hearing is expected to last three to four days.

Senate Confirms Mulvaney as Director of OMB:  Rep. Mick Mulvaney was confirmed today as the director of the Office of Management and Budget (OMB) by a 51-49 vote.  

Hatch, Rubio, and Paulsen Introduce Legislation Regarding HSAs and FSAs:  Today, Senate Finance Committee Chairman Orrin Hatch (R-UT), Senator Marco Rubio (R-FL), and House Ways and Means Committee member Rep. Erik Paulsen (R-MN) introduced the Health Savings Act of 2017.  The act intends to “simplify and expand Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs), health care accounts that provide Americans opportunities to save for medical costs through tax-deductible contributions.”

House, Senate Legislation Would Require Trump to Disclose Foreign Business Interests Before Taking Trade Actions:  Today, a group of 45 Senate and House members introduced a bill that would require the president to disclose any financial business interests before acting on trade matters.  For the full text of the Senate bill, click here.  For the full text of the House bill, click here.

Steptoe 2016 FCPA Year in Review:  2016 was a banner year for global anti-corruption and US Foreign Corrupt Practices Act (FCPA) enforcement.  Coming on the heels of 2015, a year in which the US Department of Justice (DOJ) and US Securities and Exchange Commission (SEC) brought their lowest number of enforcement actions for a decade, 2016 not only resulted in the largest number and highest dollar-value of FCPA corporate enforcement actions in a single year, but also reflected the impact of new policy directions.  Click here to read more.