Daily Tax Update - August 1, 2017: Senate Democrats Sign Letter Outlining Conditions Necessary to Support Tax Reform Efforts

Senate Democrats Sign Letter Outlining Conditions Necessary to Support Tax Reform Efforts:  Today, 45 Senate democrats (including two independents) signed a letter sent to President Trump, Senate Majority Leader Mitch McConnell (R-KY), and Senate Finance Committee Chairman Orrin Hatch (R-UT) outlining their principles regarding tax reform. These principles include: the tax burden on the middle class cannot be increased; overhaul should happen through regular order instead of budget reconciliation; and the bill should not add to the tax deficit, as this would endanger programs such as Medicare, Medicaid, and Social Security.

Senate Finance Committee Holds Hearing About Access to Affordable Housing:  Today, the Senate Finance Committee held a hearing titled “America’s Affordable Housing Crisis: Challenges and Solutions.” Senate Finance Committee Chairman Orrin Hatch (R-UT) delivered the opening statement, in which he discussed that affordable housing in the current tax code should be examined when considering tax reform. Ranking Member Ron Wyden (D-OR) also delivered a statement. Additionally, the following witnesses testified:

  • Daniel Garcia-Diaz Director, Financial Markets and Community Investment, US Government Accountability Office Testimony
  • Grant S. Whitaker President, National Council of State Housing Agencies Testimony
  • The Honorable Katherine M. O’Regan, Ph.D. Professor of Public Policy and Planning; Faculty Director, Furman Center for Real Estate and Urban Policy, Robert F. Wagner Graduate School of Public Service, New York University Testimony
  • Kirk McClure, PhD Professor, Urban Planning Program, School of Public Policy and Administration, College of Liberal Arts And Sciences, University of Kansas Testimony
  • Granger MacDonald Chairman of the Board of Directors, National Association of Home Builders Testimony

Senate Health Committee Announces Hearings on Healthcare:  Senate Committee on Health, Education, Labor, and Pensions Chairman Lamar Alexander (R-TN) and Ranking Member Patty Murray (D-WA) announced today that the committee will hold hearings beginning the week of September 4 regarding “actions Congress should take to stabilize and strengthen the individual health insurance market.” 

Department of the Treasury Releases Boycott List:  The Department of the Treasury released the current list of countries that require or may require participation in, or cooperation with, an international boycott (within the meaning of Section 999(b)(3)).  The list, unchanged from the last published list, consists of Iraq, Kuwait, Lebanon, Libya, Qatar, Saudi Arabia, Syria, United Arab Emirates, and Yemen.