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Key Legislative Showdowns: Tax Reform and Debt Ceiling Update - September 2013

Join us for a critical webinar on the upcoming legislative strategies as Congress faces pivotal showdowns in October 2013. We will dissect the challenges posed by the Fiscal Year 2014 Appropriations and the impending Debt Ceiling increase, exploring the implications for tax reform. Key topics include potential continuing resolutions, the anticipated House tax reform bill, and advocacy strategies to build bipartisan support. Don't miss insights into the ongoing negotiations and how you can contribute to successful outcomes in supporting the New Markets Tax Credit (NMTC).

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Key Legislative Showdowns: Tax Reform and Debt Ceiling Update - September 2013

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Presentation Transcript

  1. Membership Webinar Fall Legislative Strategy September 24, 2013

  2. Two Showdowns Before Tax Reform • October 1st: Showdown #1: New fiscal year, Congress must pass Continuing Resolution to fund government • October 15th: Showdown #2: Debt Ceiling Deadline • Late October: Ways and Means Committee Chairman Dave Camp expected to release House tax reform bill

  3. Showdown #1: FY14 Appropriations • Congress has not enacted any of the FY 14 appropriations • House & Senate disagreement over topline numbers, GOP inter-party disagreement over Obamacare • Outlook: Congress to pass a two-month Continuing Resolution (CR) • Final Omnibus Appropriations by the end of December

  4. Showdown #2: Debt Limit Fight • The federal government reaches the Debt Limit by October 15th • In exchange for debt limit increase, Republicans will ask for: • Repeal of Obamacare & other conservative priorities, including approval of the Keystone Pipeline • Commitment to tax reform • Will debt limit debate generate “grand bargain” on budget that paves way for tax reform?

  5. After the dust settles:Tax Reform process next steps • Camp likely to unveil his bill in the House after resolution of debt ceiling • Camp’s proposal will cut individual and corporate rates to 25% • Challenging math for supporters of tax incentives

  6. Tax Reform Math

  7. Coalition’s Summer Strategy • Coalition made the case for NMTC to Ways and Means Committee members, submitted comments, appeared on Congressional panels, and met with Joint Committee on Taxation • Built bipartisan support in Senate for NMTC extension bill and submitted comments to Finance Committee • 1,200+ signed NMTC support letter to Congress • Worked with members to generate media in key local markets and beltway publications

  8. Fall Advocacy Plan: • Generate letters to Chairman Camp from Governors in key states • Gather support for House Sign-On Letter to Ways and Means • Letter led by Rep. Stivers (R-OH) • Members of the House who are *NOT* on the Ways and Means Committee can sign the letter Rep. Steve Stivers (R-OH)

  9. Fall Advocacy Plan:House Target List (GOP) **More than $40 million in activity through 2011

  10. Fall Advocacy Plan:Senate Outreach • Build Republican support for Rockefeller/Blunt Bill S. 1133 • Current cosponsors • Cantwell, Maria [D-WA] • Cardin, Benjamin [D-MD] • Collins, Susan [R-ME] • Murkowski, Lisa [R-AK] • Senate GOP Target List:

  11. Fall Advocacy Plan:Media Outreach • Media outreach to raise the profile of the NMTC • Forbes article released on September 18th “If there’s a cure-all for bringing down-and-out communities out of the dumps shouldn’t it be a permanent part of the tax code?” • Op-ed in the Idaho Statesman on September 23rd • What you can do raise awareness: • Write an Op-Ed or Letter to the Editor for your local or state newspaper • Share the message using social media • @NMTCCoalitionand facebook.com/nmtccoalition

  12. December Conference • Save the Date for the NMTC Coalition Policy Conference, December 12th-13th in Washington, DC

  13. Additional Resources • For materials, sample letters, and information, visit our Advocacy Toolkit at: • http://nmtccoalition.org/advocacy

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