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Business Tax

Senate’s Immediate Priorities Bypass Tax Legislation

Following the Senate’s action February 18 extending government funding until March 11, the House and Senate are gone from D.C. until February 28. The Senate Democrats’ agenda upon return does not include any immediate tax legislation, according to reports out of the office of Senate Majority Leader Charles Schumer, D-NY.

The Biden Administration and Schumer now realize that Build Back Better legislation is stalled although quiet negotiations between the White House and Democrats with Sen. Joe Manchin, D-WV, are said to continue in hopes of finding a compromise. When Congress returns President Joe Biden will give his first State of the Union address the following day. Biden has promised to pick a Supreme Court nominee by the end of February and Schumer has promised to quickly confirm the nominee.

Other Democratic priorities for the time being include passage of a major U.S. Postal Service reform bill when the Senate returns and continued progress on legislation known as USICA to broaden government initiatives for high tech research and manufacturing in order to compete more with China.

 

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