Maybe a maxi-bus in the Senate. The Senate is considering a plan to combine the remaining Senate appropriations bills into one large $1 trillion “maxi-bus” bill for a floor vote. If successful, the plan would avoid a government shutdown and bypass the need for a long-term stopgap funding measure. The Hill reports that passing a maxi-bus after Thanksgiving with a large bipartisan majority could give the Senate more leverage in spending talks with the House.
In the house, the path toward funding the government remains unclear. Or “clear as mud,” as Rep. Drew Ferguson (R-GA) told Politico. House Republicans left a closed-door meeting yesterday divided, with no decision on whether to pursue a clean continuing resolution (CR) to fund the government through mid-January or a “laddered” CR with different deadlines for different agencies’ funding.
Ahead of schedule: IRS plan for taxpayers’ digital submission of documents. Taxpayers will be able to submit digitally a range of tax documents and communications to the IRS months earlier than anticipated, Treasury Secretary Janet Yellen said in a speech yesterday. The IRS will accept 20 additional tax forms electronically by early 2024. Yellen warned that IRS progress in modernizing systems and improving customer service would be hurt if Congress cuts its funding.
New Mexico Governor has a plan to boost EV sales. During a legislative hearing this week, Democratic Gov. Michelle Lujan Grisham outlined plans for tax credits to help low-income residents buy an electric vehicle (EV). The credit would be modeled after federal EV tax subsidies.
Italian tax authorities set to seize $836 million from Airbnb. The Italian government alleges that Airbnb failed to remit €779 million ($836 million) in taxes owed by landlords using its platform between 2017 and 2021. Airbnb’s Ireland-based subsidiary collected €3.7 billion ($3.96 billion) in rental income in Italy during that timeframe. Short-term rentals in the country are subject to a 21 percent tax.
For the latest tax news, subscribe to the Tax Policy Center’s Daily Deduction. Sign up here to have it delivered to your inbox weekdays at 8:00 am (Mondays only when Congress is in recess). We welcome tips on new research or other news. Email Renu Zaretsky at [email protected].
