Lunch Links: House Chairman Brady Builds Case for Comprehensive Tax Reform; Trump Tax Advisor Promotes Repatriation Tax for Infrastructure Overhaul; Las Vegas Legislators On-Track for NFL-Ready Stadium; TF Recommendations for Arkansas Tax Reform

November 16, 2016

Today is November 16, the date in 2011 when the national debt passed the $15 trillion mark. Today it stands at $19.8 trillion.

Here are some interesting links I came across:

Reconciliation Repeated Around Town: D.C. folks are studying up on the reconciliation process, the method of expediting consideration of budget bills. Sen. Enzi (R-WY), chair of the Senate Budget Committee, raised the idea of double reconciliation: passing a 2017 budget reconciliation that incorporates repeal of the Affordable Care Act, and a 2018 budget reconciliation that includes a tax overhaul. Reconciliation was used in 2010 to pass the Affordable Care Act over a threatened Republican filibuster. (Politico / Wikipedia)

Republicans Renominate Ryan: Paul Ryan won unanimous support from his caucus to be their candidate for Speaker. House Democrats will vote on their choice on November 30, with Nancy Pelosi still the favorite but reluctance for her from Rust Belt Democrats. The full House vote for Speaker will be in January. (The New York Times)

The Other Wall: At a panel Tuesday hosted by Bloomberg BNA and KPMG, House Ways and Means Chairman Kevin Brady (R-TX) said “in their haste to build a wall to keep U.S. companies in, they built a wall to keep investment out.” He called for a comprehensive reform that includes trading tax deductions for lower rates and a permanent fix to taxing overseas profits. (Twitter)

Moore Talks Repatriation for Infrastructure: Trump advisor Stephen Moore spoke to House Republican whips to promote setting a 10 percent tax on repatriated overseas profits and using the funds for infrastructure. (Politico)

Child Care Program Discussions Begin: Trump’s idea for a program to pay for child care still has details to be worked out. (The Washington Post)

Arkansas Overdue for Comprehensive Tax Reform: Our new book on tax reform options for Arkansas was unveiled in Little Rock on Tuesday, with coverage from the Times-Record, Arkansas Business Journal, Arkansas Matters, and the Arkansas Democrat-Gazette. (Tax Foundation)

Las Vegas Approves Tax Increases: Clark County commissioners formally approved a 0.1 percentage point sales tax increase to fund additional police, and a 1.38 percentage point hotel room tax increase to fund an NFL-ready stadium and a convention center expansion. The only dissenter on the 6-to-1 votes, Chris Giunchigliani, said the stadium subsidy is bad policy and was rushed through. The room tax increase takes effect January 1; the sales tax increase takes effect April 1, 2017. (Las Vegas Review-Journal)

 

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