Up against another government shutdown deadline, Congress approved another funding extension to March. Both sides gave some in the negotiations to satisfy majorities in Congress. However, House Speaker Johnson is slowly losing key Republican support which 1) then requires more Democratic support on future funding votes and 2) raises questions on his ability to lead House Republicans.
On the tax front, House Ways and Means Committee today begins consideration of a $80 billion bipartisan tax bill. The bill under consideration would restore companies’ ability to deduct the entire cost of certain equipment or capital expenditures and makes it easier to deduct interest expenses. Amendments on repeal of the death tax are expected in be introduced.