This week on the Hill. On Wednesday, the House Ways & Means Oversight Subcommittee will hold a hearing on the growth of the tax-exempt sector and its impact on the nation’s political landscape. The House Foreign Affairs Committee will mark up H.R. 6416, a bill to amend the Internal Revenue Code to impose certain tax penalties in connection with the Russian invasion of Ukraine.
Can SCOTUS narrow their Moore opinion? TPC’s Howard Gleckman reports on the decision facing the US Supreme Court, after hearing oral arguments last week in Moore v. United States. Conservative advocates see the case as an opportunity for the Court to narrow congressional taxing authority, or even declare unconstitutional some existing taxes. The justices seem to have other ideas. Indeed, Howard thinks the justices realize that by taking the case in the first place, they “had fired up an earthmover when a shovel would do.”
New York State lawmakers propose eliminating Columbia’s and NYU’s property tax breaks. State lawmakers plan to introduce legislation that would require Columbia University and New York University to begin paying annual property taxes and redistribute the revenue to the City University of New York. The two universities are estimated to have saved a combined $327 million on property taxes. The property tax exemptions for the private universities are enshrined in the state constitution. For the legislation to succeed, lawmakers need to adopt the changes in consecutive legislative sessions, followed by voter approval on a statewide ballot.
Hunter Biden indicted on nine tax charges in California. The charges result from a special counsel investigation into the son of President Joe Biden. Three felonies and six misdemeanors comprise the charges, which relate to at least $1.4 million in taxes Hunter Biden owed during between 2016 and 2019. He has since paid back taxes, but the charges concern filing a false return, , failure to file, and failure to pay.
A filibuster against Canada’s carbon tax. Conservative Party members of the Canadian parliament forced the House of Commons to sit overnight in a filibuster late last week, claiming the hold will end when Prime Minister Justin Trudeau drops the carbon tax from the budget. The tax has been in effect since 2019. The House of Commons closes on Dec. 15 for the holidays.
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