{"id":5409,"date":"2022-06-07T18:24:44","date_gmt":"2022-06-08T01:24:44","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=5409"},"modified":"2022-06-15T13:29:34","modified_gmt":"2022-06-15T20:29:34","slug":"tax-financial-services-week-ahead-tax-policy-update","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/taxes\/tax-financial-services-week-ahead-tax-policy-update\/","title":{"rendered":"Tax & Financial Services Week Ahead. Tax Policy Update."},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/2022-annual-family-business-survey\/” button_text=”Do You Have 5 Minutes To Help Your Multi-Generational Business?” button_alignment=”center” disabled_on=”on|on|on” admin_label=”Call to Action Button” _builder_version=”4.16″ _module_preset=”default” custom_button=”on” disabled=”on” global_colors_info=”{}”][\/et_pb_button][et_pb_divider _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”Content” _builder_version=”4.17.4″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n

The House and the Senate reconvene Tuesday at 2 p.m. and Monday at 3 a.m., respectively.<\/h2>\n

What to Watch<\/strong><\/h3>\n

Both chambers will be in session this week. The August district work period and the subsequent midterm elections are on the horizon, which means that legislative progress is expected to slow down in the coming weeks.<\/p>\n

The Senate will vote this week on legislation providing assistance to military veterans who were exposed to toxic substances during their service. The chamber could also advance multiple nominations that Senate Majority Leader Chuck Schumer (D-NY) and Minority Leader Mitch McConnell (R-KY) agreed to hold.<\/p>\n

The House will vote on gun control legislation this week, according to Speaker Nancy Pelosi (D-CA). The package, which includes the Protecting Our Kids Act, would increase the age requirement from 18 to 21 to buy a semi-automatic weapon; establish new federal offenses that limits the import, sale and manufacture of large capacity magazines; and establish voluntary best practices for the sale and purchase of firearms, among other things. The package also contains legislation to implement an extreme risk law and encourage states to enact similar legislation. Extreme Risk Protection Orders, also known as \u201cred flag laws,\u201d would temporarily restrict access to guns for individuals at an elevated risk of harming themselves or others.<\/p>\n

No tax or financial services legislation will be considered.<\/p>\n

On the Floor<\/strong><\/p>\n

The House will vote on a number of bills, including the PPP and Bank Fraud Enforcement Harmonization Act and the COVID-19 EIDL Fraud Statute of Limitations Act.<\/p>\n

The Senate will vote on the Honoring Our Promise to Address Comprehensive Toxics Act (H.R. 3967), which would address health care, presumption of service-connection, research, resources and other matters related to veterans who were exposed to toxic substances during military service.<\/p>\n

In Committee<\/strong><\/p>\n

Senate Finance Committee<\/u><\/p>\n

On Tuesday, the full committee will hold a hearing entitled \u201cThe President\u2019s Fiscal Year 2023 Budget<\/a>,\u201d during which the following witnesses will testify:<\/p>\n