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Top Three 9/29/17

Sep 28, 2017

1. On September 27, the long-awaited Tax Reform “framework,” entitled the Unified Framework for Fixing our Broken Tax Code, was released by the group known as the “Big Six.” The group is comprised of Treasury Secretary Steven Mnuchin, National Economic Council Director Gary Cohn, Senate Majority Leader Mitch McConnell (R-KY), House Speaker Paul Ryan (R-WI), Senate Finance Committee Chairman Orrin Hatch (R-UT) and House Ways and Means Committee Chairman Kevin Brady (R-TX). The framework was designed to be the consensus position worked out between the Trump Administration and Congressional Republicans and represents a significant step toward the goal of enacting comprehensive tax reform this year.

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2. This week, Congress considered and voted on H.R.3823 , the Disaster Tax Relief and Airport and Airway Extension Act of 2017, the vehicle to provide funding authorization for the Federal Aviation Administration (FAA). The measure, rather than a full reauthorization, is only a six-month extension of the current law. The bill was initially voted down after the package was rejected by Democratic Leader Nancy Pelosi, who insisted other unrelated issues, such as immigration, be included in the bill. The bill was later amended and passed on September 28 by a 264-155 vote. The Senate passed the bill as amended by voice vote.

NECA's Look Ahead »

3. Earlier this week, the Republican-controlled Senate took its most recent attempt at repealing and replacing the Affordable Care Act (ACA). The bill, which was not passed through regular order and was given only a week for consideration, was unable to garner enough support by Republican Senators to bring it to the Senate floor for a proper vote.

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