Regulatory and Policy Updates
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What’s Going On in Washington?
The infrastructure bill and spending bill have been held up in limbo for weeks. The $1 trillion infrastructure bill has already been passed in the Senate but initially the hang up was that the House wouldn’t proceed with a vote on it without a spending bill. Many other hurdles have come up as the spending […]
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Tax Proposals from the Chairman of the Senate Finance Committee
For those anxiously waiting to hear more about possible tax changes through a reconciliation bill, read on! Last week we posted about several of the proposals issued by the House Ways and Means Committee. Senator Ron Wyden, Chairman of the Senate Finance Committee, released a series of tax proposals as well that could be included […]
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Budget Reconciliation Proposals Released by House Ways and Means Committee
Last week the House Ways and Means Committee released their proposals for budget reconciliation. As anticipated, the proposals included various tax increases to offset spending. Key items in the proposals are outlined below. Please note this is not a comprehensive list and the proposals do include many other items you may want to discuss with […]
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Per Diem Rates Set to Increase for the Transportation Industry October 1st
Per diem pay was a hot topic when the Tax Cuts and Jobs Act changed the law and made it so that W-2 employee drivers who did not receive per diem pay from their employer could not claim an itemized deduction on their personal tax returns. It may well be a hot topic again. For […]
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Could a Reconciliation Bill be Tied to the Infrastructure Bill?
Aside from the major news of the $1 trillion infrastructure bill that passed the Senate, the Senate also approved a $3.5 trillion budget plan. This budget plan may be setting the stage for future tax policy changes. Like the infrastructure bill, a budget resolution also needs to go through the House where it’s future is […]
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Senate Approves Bipartisan Infrastructure Bill
Senators finished up working through the procedural hurdles, and have spent the last few days arguing over the potential amendments. After much debate, the bipartisan infrastructure bill was approved in the Senate, sending the bill to the House where it faces a complicated future. House Speaker Pelosi has said that the House will not pass […]
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The AB5 Situation in California
Assembly Bill 5 (AB5) was signed into law in California in late 2019 and became effective 1/1/2020. The controversial bill created a three prong test to determine when individuals can be classified as independent contractors. The following three statements must be true. A worker performs duties or services without the direct control or direction of […]
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Infrastructure Bill Update
On Tuesday night, Senate Majority Leader Chuck Schumer announced that the Senate Democrats have agreed to a $3.5 trillion spending/tax plan. Schumer indicated that the bill would fund every major program that President Biden had laid out in the the American Jobs Plan and American Families Plan. Details are expected to be announced later today. […]