1. The Tax Cuts and Jobs Act
(H.R.1) was approved by Congress on December 20, 2017 and passed largely along party lines. It is expected it be signed by President Trump on January 3, 2018. This legislation is significant for several reasons. It is the first time the tax code has been overhauled in 31 years. It will also be the most significant legislative achievement of the Trump Administration and the 115th Congress to date. NECA has long said that high tax rates and a complex tax code hampers our nation’s competitive standing and hinders our economic growth. The time and money NECA contractors spend to comply with our complex tax code could be—and should be—spent on growing their businesses and creating jobs. That is why comprehensive tax reform needed to be tackled.
NECA’s Analysis »
2. In order to avoid a government shutdown at midnight on December 22,2017, the House passed a short term continuing resolution “CR” which would fund all government agencies at current spending levels throughout January 19, 2018.
NECA’s Look Ahead
: Although a shutdown will be avoided, the process of government funding will not end, with Congress facing another deadline to fund the government by January 19th. In order to reach a deal, House Republicans must compromise both internally and with the Senate on a number of supplemental packages including extending an insurance program for low-income children, raising spending limits, stabilizing Obamacare insurance markets, providing disaster aid and reauthorizing government surveillance powers.
3. NECA will be hosting its annual National Legislative Conference May 16-17, 2018
, in Washington, D.C. Registration will open on January 15, 2018.
NECA’s Look Ahead:
This annual meeting is the premiere legislative conference for electrical contractors to hear about the top issues affecting the industry and to meet the leaders who are working to provide real solutions. Our conference is about policy, not partisanship. Accordingly, leading members from both sides of the political aisle will be on hand to brief participants on the latest happenings on Capitol Hill.