Regulation
What History Tells Us About Government Shutdowns
Stocks and bonds remain relatively unscathed so far, and private sector employment data show the economy was already exhibiting signs of weakness.
Tag: Congress
Newsmakers
President Trump Signs Tax, Policy Bill
The massive measure raises taxes on certain endowments, extends the federal debt limit, makes cuts to federal benefits and much more.
Regulation
GOP Senators Scale Back Endowment Tax Further
Recent amendments sheltered colleges with fewer than 3,000 tuition-paying students from facing a levy and removed the exclusion of international students from the calculation.
Regulation
Senate Includes Litigation Funding Levy in Tax Bill
The proposal would create a 41% levy on litigation finance profits, likely reducing the attractiveness of the investment vehicle.
Regulation
Trump, Republicans Agree to Cut Controversial ‘Revenge Tax’
Referred to as Section 899, the provision would have raised taxes on foreign investments in the U.S., which investors said would hurt capital markets.
Alternatives
Congress Eyes Lucrative Tax Break for BDCs
A provision included in the House version of the Republican tax bill—but omitted from the Senate’s version—would benefit the private credit markets.
Alternatives
Senate Passes Crypto Bill With Bipartisan Support
The GENIUS Act won the support of 18 Senate Democrats and sets new compliance standards for issuers of stablecoins.
Regulation
Senate GOP Tax Plan Pulls Back on Endowment Tax, Section 899
The bill proposes slight changes to the House version and nixed some provisions, such as the private foundation tax.
Regulation
Lawmakers Ask SEC to Delist Chinese Stocks From US Exchanges
In a letter to the SEC, senators and representatives wrote that a ban would remove an ‘unacceptable risk’ and protect American markets, investors and security.
Regulation
Congressional Tax-Writing Committee Chairs Could Make Big Impact in New Congress
Control of the House remains undecided, while Idaho Senator Mike Crapo is in line to lead the Senate Committee on Finance.
Market Moves
How Does the Market Perform Under Democratic or GOP Rule?
Stocks seem to do better with a Democratic White House, but it’s close when you factor in control of Congress, an LPL report finds.
Risk
A Miasma of Uncertainty Grips Investors
Washington dysfunction, fear of the Fed and a host of other anxieties haunt the markets.
Manager Selection
Legislation Requiring Diversity Disclosures Introduced in House
The Improving Corporate Governance Through Diversity Act would require issuers to disclose information on diversity at the director and executive levels.
Debt Ceiling Measure Clears the Senate After Day of Debate
The bill, passed by a vote of 63 to 36, heads to President Biden for his signature ahead of the June 5 deadline default.
Research
Debt Ceiling Stalemate: End Date for Washington’s Pay Ability May Arrive Sooner
The so-called ‘X-date’ could come in June instead of August, say studies by Goldman Sachs and Wrightson ICAP, based on lower-than-estimated federal tax receipts.