What We're Tracking in DC
Senate Considering Updated Budget Resolution
Right now, the Senate is considering a new version of a budget resolution with a final vote expected this weekend. While the Senate’s new budget resolution adopts the House’s one bill approach, it uses a current policy baseline to account for the cost of extending the Tax Cuts and Jobs Act (TCJA). But House Republicans have already expressed disapproval, arguing that this version of the bill would significantly increase the deficit. Just this week, the Joint Committee on Taxation estimated that a full extension of the TCJA would cost $5.5 trillion. With just a few legislative days left before Congress goes home for the April state and district work period, the timeline for budget reconciliation remains unclear.
Legislation Introduced
- Free Speech Fairness Act (S.1205/H.R.2501): Sen. James Lankford (R-OK) and Rep. Mark Harris (R-NC), along with a group of cosponsors, introduced legislation that would amend the Internal Revenue Code to allow 501(c)(3) organizations to make partisan political statements.
- The Council strongly supports maintaining the Johnson Amendment and will oppose efforts to weaken or repeal it.
- End Dark Money Act (H.R.2498): Rep. Jason Crow (D-CO) and Rep. Nikema Williams (D-GA) introduced a bill that would allow the IRS to issue new guidelines addressing 501(c)(4) political engagement, requiring them to adhere to their social welfare mission or be required to register as a political action committee, disclose their donors, and risk losing their tax-exempt status.