Capitol Corner

Capitol Corner

We've got our eye on happenings at the Capitol! If state or federal legislation or activity will affect you, your company, or your clients, we'll keep you updated here.

Got your eye on a specific bill? Track it here.

Not sure who your legislators are? Find them here.

State News

Democrats Say GOP Budget Doesn't Deliver on No New Taxes
Note: This article mentions "$20 million in unspecified fee increases in Fiscal 2019 to cover administrative expenses." That does NOT include CPA license fees, since that fee more than covers the cost of administrative; thank you to all of our members who pointed that out to their legislators this summer and helped us successfully defeat that proposed fee increase!
Following Historic Budget Vote, A Hunger for Change
Democratic leaders say state Sens. Paul Doyle, Joan Hartley and Gayle Slossberg betrayed their party's core principles when they sided with Republicans during last week's key budget vote.
Republicans Defend Cuts To UConn In GOP Budget
Republican leaders defended their budget Monday in the face of criticism from both Gov. Dannel P. Malloy and UConn President Susan Herbst.
Malloy Veto of GOP Budget Delayed, Governor Calls For Renewed Talks
Gov. Dannel P. Malloy ripped into the newly approved Republican budget Monday, calling it irresponsible, legally defective and in need of a veto, and then called for a renewed bipartisan effort to solve Connecticut’s massive deficit issues.
Gov. Malloy's Prepared Remarks from Today's News Conference at the State Capitol
Governor Dannel P. Malloy delivered the following prepared remarks regarding the state budget during a news conference this afternoon at the State Capitol building in Hartford:
CT News Junkie: With 5 More Democrat Votes, House Forwards GOP Budget to Malloy; Veto Expected
Feeding off momentum created by three Senate Democrats who surprised their leadership Friday by voting for the Republican budget, five House Democrats also crossed the aisle in support of the GOP plan early Saturday.
Gov. Malloy Statement on Budget Vote in Senate
Governor Dannel P. Malloy released the following statement regarding the Senate budget vote: “I believe the amended budget that passed in the Senate today is unbalanced, and if it were to reach my desk I would veto it," he said.
CT Mirror: Trio of senators defect, vote with GOP to block Dems’ budget
Connecticut’s state budget crisis grew exponentially more complicated Friday as three moderate Senate Democrats bolted their caucus and teamed with 18 Republicans to pass a GOP budget plan that Gov. Dannel P. Malloy vowed to veto as unbalanced and gimmick-ridden.
CT Mirror: Compromise budget deal collapses as midnight approaches
A compromise to end Connecticut’s summer-long budget impasse dramatically unraveled Thursday night as House Speaker Joe Aresimowicz, D-Berlin, brusquely acknowledged to reporters he was postponing a vote after a day of cajoling reluctant Democrats.
CT Mirror: Malloy, Democrats close on budget deal
Democratic legislative leaders and Gov. Dannel P. Malloy stood on the cusp of a deal Wednesday morning to end Connecticut’s 10-week budget impasse and avert huge cuts in municipal aid three weeks from now, sources said.

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Federal News

Trump Tracker! Surgent's Trump Tracker, inspired by The New York Times, tracks the status of all changes proposed by President Trump that could affect CPAs and their clients in a user-friendly format that makes it clear where a change currently stands.

 

Tax Reform Framework Expected Next Week
Discussions are ongoing between the administration and Congress on how to reform the tax code. Republican leadership in Congress and the White House plan to release a tax reform framework next week. The contents of the framework and to what extent it will focus on policy remains to be seen.
Senate Budget Committee Weighs Tax Cuts Totaling $1.5 Trillion
Senate Budget Committee member Ron Johnson said the panel is considering a budget that would allow for $1.5 trillion in tax cuts that would add to the deficit on a so-called “static” basis over the next 10 years.
The Fed, a Decade After the Crisis, Is About to Embark on the Great Unwinding
The Federal Reserve resorted to a series of shock-and-awe stimulus campaigns to stabilize the economy after the financial crisis. Now the Fed is preparing the final move to unwind its support—and it wants to be as boring as possible.
Military Spending Measure With Billions For Conn. Wins Senate Approval
A nearly $700 billion military spending measure, with billions for Connecticut manufacturers of submarines, jet engines and helicopters, won U.S. Senate backing Monday.
New push to replace Obamacare reflects high stakes for Republicans
A final GOP effort to dismantle the Affordable Care Act burst into view this week in the Senate, where leaders began pressuring rank-and-file Republicans with the hope of voting on the package by the end of the month.
White House Puts EEOC's Pay Data Collection Rule on Hold
State Revenue Departments, Employers Adjust To Midyear Changes for Income Tax Rates
States facing budgetary shortfalls and political turmoil have to adjust - and seven states have made changes (some retroactive) that have left employers and revenue departments reeling.
Health Care Bill Collapses
According to a front-page story in the July 18 Hartford Courant, “Two more Senate Republicans have declared their opposition to the latest plan to overhaul the nation’s healthcare system, potentially ending a months’ long effort to make good on a GOP promise that has defined the party for nearly a decade…”
AICPA Sends Tax Reform Recommendations to Senate Finance Committee Chairman Hatch
The American Institute of CPAs (AICPA) submitted tax reform recommendations to Senate Finance Committee Chairman Orrin Hatch (R-Utah) on July 17 in response to his June 16 call for suggestions from stakeholders.
Mobile Workforce Legislation Passes U.S. House; Thank You, Connecticut Representatives, For Your Support!
The U.S. House of Representatives has passed the Mobile Workforce State Income Tax Simplification Act of 2017, H.R. 1393, which is intended to simplify state income tax reporting and withholding rules for employees who sometimes work outside their home states.

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