DHS Faces Shutdown as Negotiations Continue: The Department of Homeland Security (DHS) will shut down on Feb. 14 after attempts to secure a funding agreement this week failed. Democrats maintain that DHS—particularly U.S. Immigration and Customs Enforcement and Customs and Border Patrol—must be reformed, and they continue to stand behind the 10 immigration enforcement demands released last week. Find Out More.
W&M Committee Members Probe Foreign Influence in American Nonprofits: On Tuesday, the House Ways and Means (W&M) Committee held a hearing titled “Foreign Influence in American Non-profits: Unmasking Threats from Beijing and Beyond.” Committee Republicans focused on how nonprofits use their tax-exempt status to channel foreign funds, particularly from adversarial nations like China, into U.S. political and advocacy efforts, framing it as both a national security and compliance failure. Find Out More.
IRS Issues Proposed Guidance on 45Z: On Feb. 4, the Treasury Department and Internal Revenue Service (IRS) released proposed regulations for the section 45Z Clean Fuel Production Credit, outlining rules for claiming credits on transportation fuels like ethanol, biodiesel, renewable diesel and sustainable aviation fuel produced and sold between 2025 through 2029. Find Out More.
Moran, Klobuchar Introduce the SAF Act: Last week, Sens. Jerry Moran (R-KS), Amy Klobuchar (D-MN), Joni Ernst (R-IA) and Catherine Cortez Masto (D-NV) introduced S. 3759, the Securing America’s Fuels (SAF) Act. The bill would reinstate the sustainable aviation fuel (SAF) bonus credit, providing up to $0.35 or $1.75 per gallon for qualifying SAF producers, and would extend the section 45Z Clean Fuel Production Tax Credit for all clean fuels through 2033. Find Out More.
Fitzpatrick Drafts Legislation to Restore Solar and Wind Credits: Last week, it was reported that Rep. Brian Fitzpatrick (R-PA) is drafting legislation to reinstate the solar and wind tax credits that were previously reduced in the One Big Beautiful Bill Act (OBBBA). The push to restore the credits comes amid ongoing debates over energy affordability and data center power demands. Some congressional Republicans support the proposal but are not optimistic about its passage given the political obstacles and expected opposition from the White House. Find Out More.
Tax Foundation Analyzes Wealth Tax Proposals: Last week, the Tax Foundation issued reports analyzing wealth tax proposals in Washington and Virginia. The Washington proposal would impose a 9.9% tax on taxable income in the state above $1 million per year per individual, with joint filers subject to the same $1 million threshold. The Tax Foundation report explains that layering a new surtax on income above $1 million in a state that currently relies on sales and gross receipts taxes would significantly diminish Washington’s tax competitiveness, particularly for high-income, highly mobile taxpayers. Find Out More.
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