Hester Peirce and Robert Jackson secured Senate confirmation by voice vote for seats on the SEC on December 21st, filling out the five-member commission for the first time since 2015. They will join Chairman Jay Clayton, an independent appointed by President Donald Trump, Democrat Kara Stein, and Republican Commissioner Michael Piwowar, who served briefly as…
Author: Bond Dealers of America
President Signs Tax Reform Bill
On December 20, 2017, President Trump signed the Tax Cuts and Job Act into law, which fulfills his promise to enact the legislation before Christmas. The passed tax reform bill is the most significant rewrite of the tax code since 1986 and the President’s first major legislative victory since taking office. There were some last-minute…
The President is on Track to Sign Bill into Law After Christmas
After several last-minute procedural hiccups, the House voted (224-201) for a second time to pass the tax reform bill. The passage of the tax reform bill marks the first legislative victory this year for Congress and the Administration. The President will held a celebratory “bill passage event” this afternoon at the White House, but will…
BDA Attends White House Breifing on Tax Reform
December 18, 2017, National Economic Chairman Gary Cohn, Treasury Secretary Steve Mnuchin, White House Chief of Staff John Kelly, and Sen. Tim Scott (R-SC) held a tax briefing at the White House in advance of the Congressional vote on tax reform. The White House Office of Public Liaison hosted the briefing, which was attended by…
Tax Cuts and Jobs Act Sprints Towards Finish Line
Friday evening, the Tax Cuts and Jobs Act was finalized, paving the way for a once in a generation overhaul of the U.S. Tax code. The legislation, which fully maintains the tax-exempt status for private-activity bonds, is expected to pass both chambers and be signed into law by the President by weeks-end. PABs Preserved One…
BDA Call to Action: Thank you for Preserving Private Activity Bonds
The BDA’s “boots on the ground” lobbying and member grassroots effort along with significant coordination of the MBFA coalition and other State and local groups proved to be vital in the protection of private-activity bonds (PABs) during the tax reform debate. Thank you for contacting your Members of Congress on this issue! Congress is expected to…
Private-Activity Bonds Preserved in Final Conference Package
Today, House and Senate conferees finalized the conference report of the Tax Cuts and Jobs Act, fully preserving the tax exemption for both governmental municipal bonds and private-activity bonds, while repealing municipal advance refundings. The report is expected to be scored by the Joint Committee on Taxation over the weekend, setting up a vote of final…
Conference Committee Set for Public Debate
This afternoon, the Tax Cuts and Jobs Act will be showcased in an open conference meeting, the first public debate on the package since passage of both the House and Senate. The meeting will be followed by President Trump giving a speech many view as the final remarks before the conference committee moves to finalize…
Washington Update: Conference Debate Continues
In a crucial week for the Tax Cuts and Jobs Act, work continues behind the scenes, while Congressional leaders prepare for a public meeting on the legislation Wednesday. This will be an opportunity for the committee to show progress and unity publically, while debate continues behind closed door. Angst is growing with rank-and-file Members, so the…
BDA Call to Action
As Congress begins work on reconciling the Tax Cuts and Jobs Act, it is expected that Members of Congress will have the opportunity to voice their concerns during the conference committee deliberations. Members and their staff need to hear from you this week. It is also vital that your issuer clients reach out to their…