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BILL OF THE WEEK: FY 2018 Omnibus
Source: David Rosen/Public Citizen
The March 23 government-funding deadline is just around the corner. Lawmakers are trying hard to wrap up their work on the FY 2018 omnibus spending bill, which would fund the government for the rest of this fiscal year. House Majority Leader Kevin McCarthy (R-CA) has been pushing appropriators to get a bill out by March 14 to avoid the possibility of having to do another short-term continuing resolution.
Negotiations stalled last week due to the GOP’s attempt to drop a few family planning policy riders (e.g., defunding Planned Parenthood) into the $1.3 trillion spending package. Democrats are vehemently opposed to such poison-pill additions. More than 100 riders are still under consideration according to House Minority Whip Steny Hoyer (D-MD).
The omnibus is almost certain to include a fix for Sec. 199A. There may even be a short-term extension for the FAA — reauthorization is due on March 31. An updated version of the Retirement Enhancement and Savings Act or RESA (S.2526) and the Bipartisan HSA Improvement Act (H.R. 5138) are also in play for the final package.
The fate of extenders, however, is anybody’s guess at this point. The Tax Policy Update team would be pleasantly surprised if the omnibus included another one-year extension. The House is aiming to release the text of the omnibus on March 14 with the goal of holding a vote on March 16.
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The McGuireWoods’ Tax & Financial Services Policy Group assists clients in understanding how the latest legislative and regulatory proposals anddecisions may impact their business and industry. To learn more about how our team can help you monitor, analyze, and navigate all relevant legislativeand regulatory developments, please contact any of our attorneys and consultants below at (202) 857-1700. For more information on how to subscribe toour weeklyTax Policy Update and tax news alerts, please contact Radha Mohan, rmohan@mwcllc.com, (202) 857-2944.
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Russell Sullivan |
Rosemary Becchi |
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Harold Hancock |
Charlie Iovino |
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Lai King Lam |
Radha Mohan |
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Anne C. Starke |
Daniel Chung
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