On The Hill

Trade Update (August 24)

China Phase One Last week, the U.S. and China delayed a review of the Phase One trade deal initially slated for Saturday (Aug. 15). On Tuesday (Aug. 18), President Trump told reporters he canceled the scheduled trade consultations and suggested the U.S. could pull out of the Phase One deal.[1]  “I postponed talks with China.…
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Tax Update (August 24)

Congress Update GOP Skinny Bill This week, Senate Republicans began circulating a “skinny” COVID-19 relief bill. The legislation would include $300 a week unemployment benefits, a second round of Paycheck Protection Program (PPP) loans, funding for schools, funds for the postal service, and liability protections for businesses and schools. The plan does not include stimulus…
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Health Update (August 24)

Biden Highlights Supply Chain Security in Acceptance Speech On Thursday (Aug. 20), Former Vice President Joe Biden formally accepted the Democratic presidential nomination. Biden, as well as other speakers at the Democratic National Convention (DNC), accused the Trump administration of mishandling the COVID-19 crisis. Notably, Biden vowed to ensure U.S. supply chains will not rely…
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Energy Update (August 17)

Kamala Harris Selected as VP   On Tuesday (Aug. 11), former Vice President Joe Biden selected Sen. Kamala Harris (D-CA) as his running mate. Harris is the first Black woman and first Asian American woman on a major party’s presidential ticket.   Throughout the 2020 primary, Harris framed her environmental platform around the Green New…
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Trade Update (August 17)

USTR Retaliation List   The Trump administration announced on Wednesday (Aug. 12) it was making changes to its list of $7.5 billion worth of European Union products facing retaliatory duties.   The Office of the U.S. Trade Representative (USTR) received 24,000 comments on the prospective changes.   Tariffs on non-aircraft materials will remain at 25…
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Tax Update (August 17)

Trump EOs    On Saturday (Aug. 8), President Trump signed four COVID-19 related Executive Orders (EO) that address payroll taxes, unemployment insurance (UI), student loan deferments, and eviction moratoriums.     Payroll Tax   The payroll tax deferral EO applies to those who earn less than $104,000 a year. Trump said he may consider terminating…
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Health Update (August 17)

Congress Adjourns Without Coronavirus Relief Deal   On Thursday (Aug. 13), House and Senate leaders sent their members home for the August recess without coming to a consensus on the next round of COVID-19 relief. The House and Senate are scheduled to return September 14 and 8 respectively, however, Senate Majority Leader Mitch McConnell (R-KY)…
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Trade Update (August 10)

Canadian Aluminum   The Trump administration announced on Thursday (Aug. 6) that it will reimpose tariffs on aluminum imports from Canada. The U.S. will put a 10 percent duty on certain types of the metal starting on Aug. 16.   The move comes after the U.S. failed to get Canada to impose quotas on its…
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Energy Update (August 10)

COVID-19 Stimulus Progress   Throughout this week, White House Chief of Staff Mark Meadows, House Speaker Nancy Pelosi (D-CA), Treasury Secretary Steve Mnuchin, and Senate Minority Leader Chuck Schumer (D-NY) held negotiations on the next COVID-19 relief package.   As of Friday (Aug. 7) afternoon, no deal has been reached. On Thursday (Aug. 6), the…
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Tax Update (August 10)

COVID-19 Relief Negotiations   Throughout this week, White House Chief of Staff Mark Meadows, House Speaker Nancy Pelosi (D-CA), Treasury Secretary Steve Mnuchin, and Senate Minority Leader Chuck Schumer (D-NY) held negotiations on the next COVID-19 relief package.   On Friday (Aug. 7), the group met for more negotiations. After the meeting, Mnuchin said “we…
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The Week Ahead

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