1. This week, the House Transportation and Infrastructure Committee, chaired by Rep. Bill Shuster (R-PA), held the first hearing on the Trump Administration’s infrastructure proposal. The witness for the hearing was Elaine Chao, Secretary of Transportation.
NECA’s Look Ahead:
In conjunction with the first hearing, NECA as a member of the Infrastructure Working Group
, attended a number of high level meetings with Congressional leadership to advocate for infrastructure investment. After meeting with leadership, we believe that the infrastructure bill in the House will advance in five smaller must-pass bills to ensure passage. Of those bills, two will most likely be a new Water Resources Development Act (WRDA) and the Federal Aviation Administration (FAA) bill. NECA looks forward to working with Congressional leaders and the administration to pass a comprehensive infrastructure bill.
Against extreme pushback from a large contingent of Republican Members of Congress and some White House staff, President Trump imposed new tariffs on imported steel and aluminum. The President's proclamation
will impose a 25 percent tariff on steel and a 10 percent tariff on aluminum beginning March 23. The president has marketed this plan as a method for furthering his American-made platform, however he did decide at the last minute to exempt Canada and Mexico from the tariffs, citing nation security concerns.
NECAS LOOK AHEAD:
While many have questioned the President’s resolve on this matter, it has been made clear by the premature exit of the Administration’s Economic Council Director, Gary Cohn, that the administration was resolute in his decision. NECA will continue to monitor the development of this new policy as its application and details come into focus.
Good tax policy demands good information! If your business is organized as an S corporation, please be sure to fill out the new S-Corp Survey. You can access this quick and easy to complete survey here
NECA’s Look Ahead:
This survey is a product of the partnership with the S Corporation Association. We need to better understand how the new tax law is affecting your business and your planning as Congress continues to consider possible changes in tax policy during 2018.