After a brief break from talking trade, Paul and Josh’s favorite subject is back. Our guest this week is Stephen Pavlick, former Deputy Assistant Secretary, Legislative Affairs at the Treasury Department and current Washington Policy Analyst for Renaissance Macro Research. We discuss tariffs, NAFTA and the new USMCA, and Trade War strategies.
The Lobby Shop is back from a quick Thanksgiving break with the federal budget and immigration at the forefront of DC news. We welcome Todd Schulte (@TheToddSchulte), President of FWD.us, to the show to discuss the politics and history of immigration reform in the U.S. and what the future of the issue looks like for a post-Midterms America.
I spoke with Allyson Versprille of Bloomberg Tax about the dwindling prospects for a large-scale tax package passing during the lame duck, and the procedural challenge facing lawmakers to include any tax title at all:
The House didn’t vote Nov. 30 on a year-end tax bill that had been expected to go to the floor by that time, hurting the odds for the package moving forward this year at all.
Liam Donovan, a principal at Bracewell LLP in Washington, said canceling the vote “tells me the odds of a bigger package this year just went from slim to none.”
Because of the delay, lawmakers may not have the time they need to overcome the various procedural hurdles between the House and Senate to pass a bill, he told Bloomberg Tax in an email.
“It will come down to the timing on a spending deal,” Donovan said. It’s hard to see anything getting done on tax by Dec. 7, but “if they buy an extra week or two with a short-term” continuing resolution “to get to a broader deal, that puts more time on the clock to solve your procedural problems from a tax standpoint,” he said.
Read the entire piece here ($).