Congress returns next week. We’ll resume our regular schedule on Wednesday, November 5, after tomorrow's elections. State ballot initiatives offer clues on how much voters are willing to pay for government services. There are 16 tax-related initiatives on state ballots tomorrow. TPC’s Kim Rueben
Treasury calls for quick Congressional action, because Congress is known to be… quick. Secretary Jack Lew asked top congressional tax writers to act now to end corporate inversions, and make such legislation retroactive to May of this year, giving Congress time to reform the corporate tax system .
With a surprise loss, a short-term highway fix seems more likely. The House Republican leadership is in turmoil following the surprising primary defeat of GOP leader Eric Cantor, making it even less likely that Congress will agree on a long-term solution for the dwindling Highway Trust Fund .
A repatriation tax holiday? It’s expensive. The Joint Committee on Taxation estimates that such a holiday would cost $95.8 billion in revenue over the next decade, though it would bring in about $19.6 billion over the first two years. Some lawmakers raised the idea of temporarily reducing US