22 May 2018

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.  It remains unlikely, however, that the Senate will ever vote on more tax cuts before November, not least because it would give 8 vulnerable Democrats the chance to vote for tax cuts with the package still failing to meet the 60 votes needed for Senate passage. 

That said, Ways and Means has hinted that it is discussing whether it will “pay for” the new tax cuts.  While it seems unlikely that the House would alienate businesses in an election year, after the failure of the Farm Bill, the House is anything but predictable.  If your industry benefited from the rate cuts in the Tax Cuts and Jobs Act and escaped most of the base broadening, you need to be prepared.  The tax-writing committees will be looking for revenue raisers, if not for Tax Reform 2.0, then for corrections and changes to the law in the future.  Tax-writers like fairness; they like to spread the base broadening as much as possible or have the industries that will benefit from a new provision be the ones that pay for it.  That is why the Camp Draft had the “bank tax” on SIFIs—they benefitted tremendously from the rate cuts but escaped a lot of the base broadening—or why then Ways and Means Chairman Ryan discussed paying for an innovation box by amortizing R&D expenses.  Even if Tax Reform 2.0 isn’t signed into law, any pay-fors it contains will be used again.

Additionally, the Joint Committee on Tax (JCT) is beginning work on a blue book for tax reform in addition to a package of technical corrections.  JCT Chief Tom Barthold has publicly mentioned that Congressional intent will be forefront in completing both projects.  Those comments appear to indicate that JCT will likely be considering a broader range of issues than they would typically in either a blue book or technical corrections package.  It is imperative that you start discussing your tax reform issues with JCT and/or the tax-writing committees now before the process moves too far along.

Please contact our team if you would like more information.

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Grant Due: FY 2024 Rural Community Innovations: Transportation Planning Grant

FY 2024 Rural Community Innovations: Transportation Planning Grant

WHAT DOES IT FUND? This program offers funding for communities to develop a transportation plan that addresses accessibility and equity. Planning activities will identify transportation barriers, consider current and future community needs, actively engage older adults and people with disabilities in the process, and create or strengthen multi-sector collaborative partnerships. Click here for more information.

WHO'S ELIGIBLE? Rural, local, and regional private nonprofit or government organizations, including but not limited to: public transit agencies, councils of government, metropolitan or rural planning organizations, tribal agencies, area agencies on aging, community action agencies, centers for independent living, disability service organizations, and community organizations involved in the administration, delivery, or coordination of public transit, human services transportation, aging, or disability services

TOTAL FUNDING AMOUNT? $420,000 

WHEN'S IT DUE? June 7, 2024

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Grant Due (JustGrants): 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? May 8, 2024 

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Grant Due (Grants.gov): FY 2024 Justice and Mental Health Collaboration Program

FY 2024 Justice and Mental Health Collaboration Program

WHAT DOES IT FUND? The purpose of this program is to support cross-system collaboration to improve public safety responses and outcomes for individuals with mental health disorders or co-occurring mental health and substance use disorders. Click here for more information.

WHO'S ELIGIBLE? State and territorial governments, special district governments, county, city, and township governments, federally recognized Native American tribal governments, public and state-controlled institutions of higher education

TOTAL FUNDING AMOUNT? $13.75 million

WHEN'S IT DUE? May 9, 2024 

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Grant Due: FY 2024 Homeless Veterans' Reintegration Program, Incarcerated Veterans' Transition Program, and the Homeless Women Veterans' and Homeless Veterans' with Children Reintegration Program

FY 2024 Homeless Veterans' Reintegration Program, Incarcerated Veterans' Transition Program, and the Homeless Women Veterans' and Homeless Veterans' with Children Reintegration Program

WHAT DOES IT FUND? This program provides employment and training services to assist in reintegrating homeless veterans into meaningful employment within the labor force and to stimulate the development of effective service delivery systems that will address the complex problems facing homeless veterans. Click here for more information.

WHO'S ELIGIBLE? Local and state governments, workforce development boards, Native American Tribes and Tribal organizations and institutions, non-profits, and academic institutions

TOTAL FUNDING AMOUNT? $12 million

WHEN'S IT DUE? May 11, 2024

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Grant Due (JustGrants): FY 2024 Improving Substance Use Disorder (SUD) Treatment and Recovery Outcomes for Adults in Reentry

FY 2024 Improving Substance Use Disorder (SUD) Treatment and Recovery Outcomes for Adults in Reentry

WHAT DOES IT FUND? The purpose of this program is to establish, expand, or improve treatment and recovery support services for people with SUDs during their incarceration and upon reentry into the community. Click here for more information.

WHO'S ELIGIBLE? City or township governments, county governments, Native American tribal governments, Native American tribal organizations, special district governments, state governments and nonprofits

TOTAL FUNDING AMOUNT? $5 million

WHEN'S IT DUE? May 13, 2024

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Grant Due (Grants.gov): FY 2024 Demonstration Program on Trauma-Informed, Victim-Centered Training for Law Enforcement on Domestic Violence, Dating Violence, Sexual Assault, and Stalking Program

FY 2024 Demonstration Program on Trauma-Informed, Victim-Centered Training for Law Enforcement on Domestic Violence, Dating Violence, Sexual Assault, and Stalking Program

WHAT DOES IT FUND? This program supports efforts to improve law enforcement’s response to allegations of domestic violence, dating violence, sexual assault, and stalking from the time of a victim’s initial report throughout the entire investigation, and to promote the efforts of law enforcement in improving the response to these crimes. Click here for more information.

WHO'S ELIGIBLE? State, territorial, local, and/or tribal law enforcement agencies that investigate crimes of domestic violence, dating violence, sexual assault, and/or stalking

TOTAL FUNDING AMOUNT? $4.5 million

WHEN'S IT DUE? May 17, 2024

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Grant Due: FY 2024 Enhancing Reviews and Surveillance to Eliminate Maternal Mortality

FY 2024 Enhancing Reviews and Surveillance to Eliminate Maternal Mortality 

WHAT DOES IT FUND? This program supports the capacity for developing and implementing data-informed strategies to prevent pregnancy-related deaths and reduce disparities among disproportionately impacted populations by improving data availability and quality to better identify and characterize pregnancy-related deaths and related health inequities. Click here for more information.

WHO'S ELIGIBLE? Agencies and organizations that coordinate and manage maternal mortality review committees (MMRCs) including state or local governments, academic institutions, Native American tribes, nonprofit organizations, private sector organizations, schools and school districts, and tribal organizations/institutions

TOTAL FUNDING AMOUNT? $133.7 million

WHEN'S IT DUE? May 20, 2024

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Grant Due: FY 2024 Regional Alliances and Multistakeholder Partnerships to Stimulate Cybersecurity Education and Workforce Development

FY 2024 Regional Alliances and Multistakeholder Partnerships to Stimulate Cybersecurity Education and Workforce Development

WHAT DOES IT FUND? This program seeks to establish community-based partnerships to develop cybersecurity career pathways that address local workforce needs. Click here for more information.

WHO'S ELIGIBLE? State, local, territorial, and Indian tribal governments, accredited institutions of higher education, K-12 public education schools, and school districts; nonprofit organizations, for-profit organizations incorporated in the United States, and foreign public entities and organizations

TOTAL FUNDING AMOUNT? Unspecified

WHEN'S IT DUE? May 24, 2024

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Grant Due (Grants.gov): FY 2024 Community-Based Violence Intervention and Prevention Initiative (CVIPI)

FY 2024 Community-Based Violence Intervention and Prevention Initiative (CVIPI)

WHAT DOES IT FUND? This program provides funding to prevent and reduce violent crime in communities by supporting comprehensive, evidence-based violence intervention and prevention programming. Click here for more information.

WHO'S ELIGIBLE? Local, state, special district, and federally recognized Native American and Alaska Native tribal governments, corporations, public housing authorities/Indian housing authorities, independent school districts, nonprofits, and institutions of higher education

TOTAL FUNDING AMOUNT? $72 million

WHEN'S IT DUE? May 30, 2024

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Grant Due: FY 2024 Local Government Energy Program: Communities Sparking Investment in Transformative Energy

FY 2024 Local Government Energy Program: Communities Sparking Investment in Transformative Energy

WHAT DOES IT FUND? The purpose of this program is to support programs and projects at the local level that reduce energy use and greenhouse gas emissions, save customers money, create local jobs, improve air quality, combat climate change, and focus benefits on disadvantaged communities. Click here for more information.

WHO'S ELIGIBLE? Local governments and tribal governments that represent disadvantaged communities, energy communities, or small- and medium sized jurisdictions

TOTAL FUNDING AMOUNT? $18 million

WHEN'S IT DUE? May 31, 2024

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Grant Due: FY 2023-2025 Residential Treatment Center Services for Unaccompanied Children

FY 2023-2025 Residential Treatment Center Services for Unaccompanied Children  

WHAT DOES IT FUND? The purpose of this program is to provide temporary shelter care and other services to unaccompanied children by supporting eligible residential treatment center (RTC) care providers that specialize in the high quality care of children who have psychiatric or psychological issues that cannot be addressed in an outpatient setting and will require heightened behavioral and/or mental health support. Click here for more information.

WHO'S ELIGIBLE? Residential treatment center (RTC) care providers, including: state and local governments, special district governments, independent school districts, private, public, and state-controlled institutions of higher education, Federally recognized Native American tribal governments, public housing authorities/Indian housing authorities, Native American tribal organizations, nonprofit organizations with or without 501(c)(3) status, and for-profit organizations, including small businesses and Faith based and community organizations 

TOTAL FUNDING AMOUNT? $50 million

WHEN'S IT DUE? June 3, 2024

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Grant Due (JustGrants): FY 2024 Arts Programs for Justice Involved Youth

FY 2024 Arts Programs for Justice Involved Youth

WHAT DOES IT FUND? This program will develop, enhance, or expand high-quality arts programs for current and previous justice-involved youth, including tribal and Indigenous youth, to reduce juvenile delinquency, recidivism, and/or other problem and high-risk behaviors. Click here for more information.

WHO'S ELIGIBLE? County, city, or township governments, federally recognized tribal governments and organizations, nonprofit organizations; and public or private institutions of higher education

TOTAL FUNDING AMOUNT? $200,000

WHEN'S IT DUE? June 4, 2024

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Grant Due (Grants.gov): FY 2024 Youth Justice and Mental Health Collaboration Program

FY 2024 Youth Justice and Mental Health Collaboration Program 

WHAT DOES IT FUND? This program supports cross-system collaboration to improve responses and outcomes for youth under the age of 18 or youth under the jurisdiction of the juvenile justice system with mental health disorders (MHD) or co-occurring mental health and substance use disorders (MHSUDs) who come in contact with the juvenile justice system. Click here for more information.

WHO'S ELIGIBLE? State governments, special district governments, city or township governments, county governments, federally recognized Native American tribal governments, and public and state-controlled institutions of higher education

TOTAL FUNDING AMOUNT? $4 million 

WHEN'S IT DUE? June 8, 2024

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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

TFG Welcomes Marcusleen Jones as Controller 7 May 2024

TFG Welcomes Marcusleen Jones as Controller

Marcusleen previously served as TFG Staff Accountant in 2007-2010 and returns as Controller.

WASHINGTON, D.C. – TFG is pleased to welcome Marcusleen Jones back to the firm as Controller. Marcusleen previously served as TFG Staff Accountant from 2007 until 2010. Marcusleen joins the firm with decades of accounting experience and is a Certified Public Accountant with the Virginia State Board of Accountancy. She will serve in a pivotal role in ensuring TFG financials and client operations continue to run efficiently.

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