In DC Dynamics episode 20: Budget Reconciliation Basics, special guest host Heather Meade, head of Washington Council Ernst & Young’s health team, and Lisa Wolski, the newest member of WCEY’s tax team, walk through the basics of budget reconciliation.

Budget reconciliation is a process that permits legislation impacting revenues and spending to pass the Senate with 51 votes rather than the 60-vote filibuster threshold for most other legislation. Spending, revenue, or the debt limit (though rare) may be addressed under reconciliation together or separately, but only once per budget resolution, and only one budget resolution can be approved for each fiscal year. If either party sweeps in the 2024 elections, the process could be used to enact tax legislation.

For more information on budget reconciliation, be sure to check out the budget reconciliation basics page on EY.com: https://www.ey.com/en_us/insights/tax/budget-reconciliation-basics

Washington Council Ernst & Young (WCEY) is a tax, legislative and regulatory group within Ernst & Young LLP that combines the power of a leading professional services organization with the on-the-ground knowledge, personal relationships and attention to detail of a boutique Washington-insider firm.

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In DC Dynamics episode 19: Super Bowl of Tax Pregame, host Ray Beeman, Washington Council Ernst & Young’s managing partner, and Ryan Abraham, WCEY partner, take a look at the 2017 Tax Cuts & Jobs Act, a big portion of which is slated to expire next year and may bring a reconsideration of the current US tax system along with it. This will happen at the end of 2025 with the big unknown ahead of us before we get there – the 2024 presidential and congressional elections. Until we get to November 5th, only so much can be known about the political environment in which that deadline will fall, and the biggest factor clearly is who will be in control of the government.

Ray and Ryan walk though possible scenarios of how the TCJA extension could be addressed if the election outcome is a red or blue wave—if one party sweeps—or if there is a divided government.

In DC Dynamics episode 18: Taxmageddon: The Trailer, host Ray Beeman, Washington Council Ernst & Young’s managing partner, provides an update on the pending tax bill in Congress and provides a preview of the looming tax debate when a big portion of the 2017 Tax Cuts and Jobs Act is slated to expire at the end of 2025.

Washington Council EY helps clients achieve their legislative and regulatory objectives. In each case, the goal is to help you seize opportunities or mitigate risks so you stay ahead of changes brought by passage of new legislation, promulgation of new regulations or electoral outcomes.

Learn more: Washington Council Ernst & Young | EY - US

In DC Dynamics episode 17: Time After Time: History of the Tax Extenders, host Ray Beeman, Washington Council Ernst & Young’s managing partner, takes us down memory lane to explore the history of “tax extenders” – and why some extenders are made permanent, some are extended, and others are simply allowed to expire.

Washington Council EY helps clients achieve their legislative and regulatory objectives. In each case, the goal is to help you seize opportunities or mitigate risks so you stay ahead of changes brought by passage of new legislation, promulgation of new regulations or electoral outcomes.

Learn more:  https://www.ey.com/en_us/tax/washington-council-ernst-young

In DC Dynamics episode 16: Monumental Decisions, host Ray Beeman, Washington Council Ernst & Young’s managing partner, plays tour guide for this pre-August recess edition and walks through many of the open tax policy issues currently facing Congress.

Washington Council EY helps clients achieve their legislative and regulatory objectives. In each case, the goal is to help you seize opportunities or mitigate risks so you stay ahead of changes brought by passage of new legislation, promulgation of new regulations or electoral outcomes.

Learn more:  https://www.ey.com/en_us/tax/washington-council-ernst-young

In DC Dynamics episode 15: The Public Health Emergency is ending— what you need to know, host Ray Beeman, Washington Council EY’s managing partner is joined by WCEY colleague, Heather Bell, a health policy analyst, to walk through the myriad of regulatory changes that are coming as a result of the end of the COVID-19 Public Health Emergency (PHE).

Guidance related to the end of the PHE is continually evolving. For the latest information on the implications of the end of the PHE, be sure to check out Washington Council EY’s comprehensive guide, “The PHE is ending: What it means for COVID-19 waivers, funding and other flexibilities” linked here: https://www.ey.com/en_us/health/the-phe-is-ending-what-it-means-for-covid-19-waivers-funding-other-flexibilities

Washington Council EY helps clients achieve their legislative and regulatory objectives. In each case, the goal is to help you seize opportunities or mitigate risks so you stay ahead of changes brought by passage of new legislation, promulgation of new regulations or electoral outcomes.

Learn more:  https://www.ey.com/en_us/tax/washington-council-ernst-young

In DC Dynamics episode 14: Political Prizefighting, host Ray Beeman, Washington Council EY's managing partner, provides a ringside look at some of the looming battles in Washington in both the near and long term, and what’s at stake.

In episode 13 of DC Dynamics, Demystifying the Revenue Estimating Process, host Ray Beeman, from Washington Council EY, is joined by Robert Carroll, the head of EY's Quantitative Economics and Statistics ("QUEST") group, to discuss how the revenue estimating process plays into the tax policy legislative process. 

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WCEY’s professional services help clients achieve their legislative and regulatory objectives. In each case, the goal is to help you seize opportunities or mitigate risks so you stay ahead of changes brought by passage of new legislation, promulgation of new regulations or electoral outcomes.

Learn more at:  https://www.ey.com/en_us/tax/washington-council-ernst-young