If You're Not Already Preparing for Revenue Raisers, You're Not Doing It Right

The Department of the Treasury is steadily making progress on writing guidance for the Tax Cuts and Jobs Act and have announced a tentative release schedule: June/July for the passthrough deduction, late summer/early fall for the new limitations on interest expense, and December for the big international provisions (e.g. GILTI and BEAT).

 

In the meantime, the Committee on Ways and Means is contemplating a second round of tax cuts, or Tax Reform 2.0 as they like to call it. They are aiming to make permanent the new individual provisions as well as full expensing for businesses.

White House and Treasury Announce Fundamental Change to Tax Rulemaking

  • 13 April 2018
  • Author: Aindriu Colgan
  • Number of views: 433
  • 0 Comments

After months of trading punches Director Mick Mulvaney of the White House’s Office of Management and Budget (OMB) and Treasury Secretary Steven Mnuchin released a memorandum of agreement (MOA) that creates a new framework for writing, reviewing, and implementing tax regulations.  In short, the MOA requires OMB’s Office of Information and Regulatory Affairs (OIRA) to review major tax regulations—just as it does major rulemakings from any other executive branch agency.  This is a fundamental change from a 1983 agreement, under which Treasury had hitherto operated, that exempted most tax regulations from review.

W&M Reports Suite of IRS Reform Bills

  • 13 April 2018
  • Author: Aindriu Colgan
  • Number of views: 325
  • 0 Comments
On Wednesday, the House Ways and Means Committee marked up and unanimously reported 12 bills to reform the IRS. The bipartisan packaged was sponsored by Oversight Subcommittee Chairman Lynn Jenkins (R-KS) and Ranking Member John Lewis (D-GA) and is designed to modernize the IRS and improve customer service. The package requires the IRS to send Congress by September 30, 2020 a comprehensive written plan for reorganizing the agency, including priorities laid out by lawmakers.

IRS Rules Prepaid Property Taxes May Still Be Deductible on 2017 Returns

  • 11 April 2018
  • Author: Aindriu Colgan
  • Number of views: 296
  • 0 Comments
The IRS ruled that taxpayers who prepaid their 2018 property taxes may still be able to deduct the entire amount from their 2017 federal taxes without regard to the $10,000 limit imposed by the Tax Cut and Jobs Act.

Increased Costs of Municipal Financing

Unintended Consequences of the Tax Cuts and Jobs Act

As you know, both corporate and individual tax rates were reduced in last year’s Tax Cuts and Jobs Act. Lower tax rates make tax-exempt vehicles like municipal bonds less attractive to both corporate and individual investors; with lower tax rates, they have less incentive to look for tax-exempt investments. Reduced demand for municipal bonds and other tax-exempt investment vehicles like private activity bonds (PABs) means that cities will have to increase the interest rates on new bond issues in order to attract investors.
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Grant Due: FY 2024 Growth Opportunities (Round 4)

FY 2024 Growth Opportunities

WHAT DOES IT FUND? The purpose of this program is to introduce and prepare justice-involved youth and young adults for the world of work through placement into paid work experiences, and on a path to more equitable career opportunities with their peers. Click here for more information.

WHO'S ELIGIBLE? County governments, city or township governments, special district governments, regional government organizations, independent school districts, federally recognized Indian/Native American tribal governments, and 501(c)(3) nonprofit organizations

TOTAL FUNDING AMOUNT? $85 million

WHEN'S IT DUE? April 2, 2024

Read more
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Grant Due: FY 2024 Safe Streets and Roads for All (Planning and Demonstration)

FY 2024 Safe Streets and Roads for All

WHAT DOES IT FUND? The purpose of this program is to provide funding to develop the tools to help strengthen a community’s approach to roadway safety and save lives and is designed to meet the needs of diverse local, tribal, and regional communities that differ dramatically in size, location, and experience administering Federal funding. Click here for more information.

WHO'S ELIGIBLE? Metropolitan planning organizations (MPOs), political subdivisions of a state or territory, federally recognized Tribal governments, and multijurisdictional groups of entities

TOTAL FUNDING AMOUNT? $1,256,687,000

WHEN'S IT DUE? April 4, 2024

Read more
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Grant Due: FY 2024 Pipeline Emergency Response Grant (PERG)

FY 2024 Pipeline Emergency Response Grant (PERG)

WHAT DOES IT FUND? This program ensures the safe transportation of hazardous materials by training emergency responders to respond to pipeline incidents. Click here for more information.

WHO'S ELIGIBLE? State, county, and local governments

TOTAL FUNDING AMOUNT? $3,138,993 

WHEN'S IT DUE? April 5, 2024 

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Grant Due: FY 2023 Electric Drive Vehicle Battery Recycling and Second Life Applications

FY 2023 Electric Drive Vehicle Battery Recycling and Second Life Applications

WHAT DOES IT FUND? This program reduces the costs associated with transportation, dismantling, and preprocessing of end-of life electric drive vehicle batteries for recycling, as well as recycling of plastic and polymer electric drive vehicle battery accessory components through research, development, and demonstration projects. Click here for more information.

WHO'S ELIGIBLE? Domestic entities including state, local and tribal governments, nonprofits, for-profit entities, and institutions of higher education

TOTAL FUNDING AMOUNT? $60 million

WHEN'S IT DUE? February 7, 2024 (concept paper), April 19, 2024 (full application)

Read more
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Grant Due (JustGrants): FY 2024 Services for Victims of Human Trafficking

FY 2024 Services for Victims of Human Trafficking 

WHAT DOES IT FUND? The purpose of this program is to develop, expand, or strengthen victim service programs for victims of human trafficking, including those that provide trauma-informed services. Click here for more information.

WHO'S ELIGIBLE? State governments,city or township governments, county governments, federally recognized Native American tribes, nonprofit organizations having a 501(c)(3) status, institutions of higher education, public housing authorities

TOTAL FUNDING AMOUNT? $29.6 million

WHEN'S IT DUE?  April 22, 2024

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Grant Due (Grants.gov): FY 2024 Law Enforcement Mental Health and Wellness Act (LEMHWA) Implementation Program

FY 2024 Law Enforcement Mental Health and Wellness Act (LEMHWA) Implementation Program

WHAT DOES IT FUND? The purpose of this program is to improve the delivery of and access to mental health and wellness services for law enforcement officers through the implementation of peer support, training, family resources, suicide prevention, and other promising practices for wellness programs. Click here for more information.

WHO'S ELIGIBLE? Local, state, tribal, and territorial law enforcement agencies

TOTAL FUNDING AMOUNT? $9.8 million

WHEN'S IT DUE? April 23, 2024

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Grant Due (Grants.gov): FY 2024 Preventing Trafficking of Girls

FY 2024 Preventing Trafficking of Girls

WHAT DOES IT FUND? The purpose of this program is to support prevention and early intervention services for girls who are at risk of, or are victims of, sex and/or labor trafficking. Click here for more information.

WHO'S ELIGIBLE? State, territory, city, town, or county governments; public-controlled, state-controlled, or private institutions of higher education; public and Indian housing authorities; Native American tribal organizations and tribal governments; and nonprofits having a 501(c)(3) status

TOTAL FUNDING AMOUNT? $3.5 million

WHEN'S IT DUE? April 24, 2024 

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Grant Due: FY 2024 Staff Sergeant Parker Gordon Fox Suicide Prevention Grant Program

FY 2024 Staff Sergeant Parker Gordon Fox Suicide Prevention Grant Program 

WHAT DOES IT FUND? This program provides resources toward community-based suicide prevention efforts to meet the needs of veterans and their families through outreach, suicide prevention services, and connection to Veterans Affairs (VA) and community resources. Click here for more information.

WHO'S ELIGIBLE? Local and state governments, incorporated private institutions or foundations that have no part of the net earnings of which incur to the benefit of any member, founder, contributor, or individual and have a governing board that would be responsible for the operation of the project, corporations wholly owned and controlled by an organization meeting the requirements previously listed, Indian tribes, community-based organizations that can effectively network with local civic organizations, regional health systems, and other settings where eligible individuals and their families are likely to have contact

TOTAL FUNDING AMOUNT? $52.5 million

WHEN'S IT DUE? April 26, 2024

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Grant Due: FY 2024 High-Impact HIV Prevention and Surveillance Programs for Health Departments

FY 2024 High-Impact HIV Prevention and Surveillance Programs for Health Departments

WHAT DOES IT FUND? The purpose of this program is to implement a comprehensive HIV prevention and surveillance program to prevent new HIV infections and improve the health of people with HIV. Click here for more information.

WHO'S ELIGIBLE? State governments, county governments, city and township governments and special district governments. Bona fide agents of state, local, or territorial governments may also apply

TOTAL FUNDING AMOUNT? $484,474,481

WHEN'S IT DUE? February 23, 2024 (Optional LOI), April 29, 2024 (Full Application)

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US Congressional Calendar

27 November 2023

TFG Presents 2024 Congressional Calendar

The Ferguson Group (TFG) compiled a 2024 Congressional Calendar with session and recess dates for the U.S. House of Representatives and U.S. Senate 118th congressional session. 

Latest TFG News

ICMA Scholarship Named in Honor of TFG Founder, William Ferguson, Jr. 1 February 2024

ICMA Scholarship Named in Honor of TFG Founder, William Ferguson, Jr.

As TFG CEO for over 30 years, William Ferguson, Jr. launched the full tuition scholarship for ICMA members in 2011.

TFG is proud to offer a scholarship for the Harvard Kennedy School Senior Executives in Local Government Program to an ICMA member. Named in honor of TFG founder, William Ferguson, Jr., the William Ferguson, Jr. Scholarship covers the full $17,400 program fee.

Meet a Team Member

Courtney Miller

Courtney Miller

Senior Associate

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