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Tax News & Views - September 20, 2013

Vol. 14, No. 35


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Tax News & ViewsAuthor
Tax Policy Group, Deloitte Tax LLP

  • House to include tax reform instructions in debt ceiling bill – The fiscal debate on Capitol Hill took a new turn as House Majority Leader Eric Cantor, R-Va., laid out plans at a recent House GOP Conference meeting to attach tax reform instructions to legislation to raise the federal debt ceiling.
  • Long-term debt, deficit moving toward unsustainable levels, CBO projects – Recent estimates from the Congressional Budget Office suggest that under current law, U.S. debt and deficit levels will drop slightly as a percentage of gross domestic product over the next several years, but will be on the increase by 2023 and reach levels by 2038 that “could not be sustained indefinitely.”
  • Levin reintroduces Stop Tax Haven Abuse Act – Senate Permanent Subcommittee on Investigations Chairman Carl Levin, D-Mich., introduced the latest version of his proposal to curb offshore tax haven activity.
  • Dbriefs webcast: Tangible Property: Understanding How the Final Regulations May Affect Your Organization – Deloitte Tax LLP will present a special edition Dbriefs webcast to discuss recently released final regulations on tangible property and their potential effects on business taxpayers.

See attached file for details.

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