Alan K. Ota

Hensarling Seen to Vie With Mnuchin for Trump Treasury Pick
An architect of legislation with GOP ties or an emissary to Wall Street?

President-elect Donald Trump could face a classic choice between a Wall Street insider and a GOP strategist — investor Steve Mnuchin and House Financial Services Chairman, Texas Republican Jeb Hensarling — as he moves to replace outgoing Treasury Secretary Jacob J. Lew.

Trump advisers such as investor Carl Icahn and Stephen Moore, a visiting fellow at the Heritage Foundation, describe Mnuchin, Trump’s campaign finance director, as the front-runner for the Treasury post. But GOP allies of Hensarling — including Senate Majority Whip John Cornyn, Sen. Ted Cruz and former Sen. Phil Gramm, all fellow Texans — say they believe Hensarling has emerged as a strong challenger after meeting with Trump on Thursday.

Trump‘s Treasury Hopefuls Steeped in Wall Street Experience
Some pushback from liberals expected

President-elect Donald Trump's potential candidates for Treasury secretary are being praised for their business experience, while consumer advocates are probing their past investments and work on Wall Street.

Steve Moore, an economic adviser to Trump, said in an interview that Steve Mnuchin, the Republican's campaign finance chairman and a former Goldman Sachs executive, would be a front-runner for Treasury secretary. Other potential candidates could include billionaire investor Wilbur Ross, chairman of a private equity firm, and Lawrence Kudlow, a CNBC commentator and former chief economist for Bear Stearns, according to Moore.

Study: Clinton, Trump Tax Plans Are 'Mirror Images'
Candidates most apart on treatment of wealthy families

A new analysis by the Urban-Brookings Tax Policy Center finds that Democratic presidential nominee Hillary Clinton and her Republican rival Donald Trump continue to move away from one another on taxes, particularly for wealthy families.

The center’s study released Tuesday says Clinton would raise taxes by $1.4 trillion over 10 years, mainly by raising taxes on wealthy individuals and curbing business sweeteners. Trump would cut taxes by $6.2 trillion over 10 years, benefiting wealthy families and business.

Freedom Caucus Moves to Force Vote on Impeaching IRS Chief
Koskinen and his legal team dismiss charges as 'meritless'

Rep. John Fleming of the House Freedom Caucus, as expected, took a procedural step Tuesday to force a vote on whether to impeach IRS Commissioner John Koskinen.

The Louisiana Republican stood on the floor with Kansas GOP Rep. Tim Huelskamp at his side and read the impeachment resolution. The resolution was introduced under a privileged motion, meaning it bypasses committee and requires a floor vote.

Freedom Caucus' Jordan Eyes Another Push to Oust IRS Chief
Pre-election House vote still doubtful

Rep. Jim Jordan and other conservatives are reviving efforts to press the House to impeach IRS Commissioner John Koskinen as the embattled agency head tries to woo Democrats and undecided Republicans.

The Ohio Republican, chairman of the House Freedom Caucus, said in an interview that he and other allies were weighing the use of procedural tactics similar to the July bid by Louisiana GOP Rep. John Fleming to bring up an impeachment resolution as a privileged measure bypassing committee consideration. The measure calls for formal impeachment of Koskinen for misstatements and a failure to cooperate with a House investigation of the IRS' handling of tax-exempt status requests from conservative groups.

Top House Tax-Writer Embraces Trump's Call for Tax Code Revamp
Will likely mirror $2.4 trillion plan in Republicans' campaign agenda

House Ways and Means Chairman Kevin Brady embraced Donald Trump's call for speedy action on overhauling tax laws if Republicans sweep the November elections.  

In a statement after the Republican National Convention ended Thursday night, the Texan vowed that House Republicans would work with Trump and running mate Mike Pence “in the first 100 days of the new presidency to fix this broken tax code and repeal and replace Obamacare.”   

Pence's Tax-Cutting Record Could Help Trump
Ex-congressman may align billionaire with long-standing Republican goals

Indiana Gov. Mike Pence brings to the Republican ticket a record of tax deals in the Hoosier State that Donald Trump hopes can help him win over the party faithful when it comes to fiscal issues.  

During their first joint TV interview on CBS' "60 Minutes," the presumptive GOP presidential nominee praised his running mate for winning approval of cuts in personal income, corporate and property taxes.  

Ted Cruz Is Back and Wants to Lower Your Taxes
Push adapts ideas from campaign's economic agenda

Sen. Ted Cruz has his eye on shaping the tax code and other fiscal priorities as he turns his full attention back to Congress after suspending his bid for the Republican presidential nomination.  

The Texan told CQ Roll Call that he would like to advance a number of the ideas from his campaign's economic plan, including some from his $8.6 trillion tax proposal.  

Like a Rolling Stone
Younger House Democrats getting restless as senior leadership shows no sign of going anywhere

Very few leaders, from professional sports coaches to Fortune 500 CEOs, keep their jobs after three straight losing seasons.  

Nancy Pelosi has led House Democrats since 2003, bringing them out of the wilderness in 2006, taking them all the way to 256 seats after the 2008 elections only to oversee the drop to the current nadir of 188 members, the result of three straight elections of missing the majority mark.  

GOP Corporate Tax Overhaul Would Place 25 Percent Levy on Companies’ Cash Flow

Senior House tax writer Devin Nunes is making an opening bid in the GOP’s hunt for a viable tax overhaul with a proposal to replace the 35 percent corporate rate with a 25 percent levy on cash flow, a measure of funds typically available after expenses, financing and investment.

Ryan Forum Will Preview Poverty Agenda

House Speaker Paul D. Ryan of Wisconsin is opening the door to new initiatives aimed at helping low-income families as he prepares to discuss poverty in a forum showcasing GOP presidential candidates in Columbia, S.C., on Saturday.

Brady Vows 'Relentless' Tax Overhaul Drive

Ways and Means Chairman Kevin Brady acknowledged in a wide-ranging interview with CQ Roll Call Friday that the highway bill is unlikely to include an international tax overhaul. But the newly elected chairman vowed to continue pursuing the issue and to lay the groundwork for a longer-range tax code restructuring with sweeping rate reductions for business.

Brady Seen As a Likely Successor to Ryan on Tax Panel

Rep. Kevin Brady has emerged as the front-runner to replace House Ways and Means Chairman Paul D. Ryan if the top tax writer opts to succeed Speaker John A. Boehner, R-Ohio.

Boehner Profile: Achievements and Pitfalls Mark Recent Years

Speaker John A. Boehner's stunning announcement Friday that he will resign from his House seat next month caps a 25-year career marked by legislative victories and intra-party conflicts. 

Fiorina Snub Irks Hatch

Sen. Orrin G. Hatch isn't happy that former Hewlett-Packard CEO Carly Fiorina didn't get a slot in Fox News' primetime debate.  

The Utah Republican and chairman of the Finance Committee told CQ Roll Call organizers should have found a way to include her in the Thursday debate.  

Stabenow Seeks Tax Sweeteners for NASCAR Track Operators

Sen. Debbie Stabenow, D-Mich., is teaming with Senate Appropriations Chairman Thad Cochran, R-Miss., and other senior Republicans in pressing for a permanent extension of faster tax write-offs for operators of motor racetracks, including 29 venues used for NASCAR events.

Sanders Presses for Vote on Financial Transaction Tax

Liberal Democrats plan to target hedge fund managers and corporations with a push for Senate floor action on a proposed financial transaction tax that has been embraced by two presidential candidates: Sen. Bernard Sanders and former Maryland Gov. Martin O’Malley.

Motorists' Efficiency Might Drive Taxes Up

The problem Congress faces in paying for new highways and other transportation projects is that the Highway Trust Fund, which for decades has financed road and transit spending, is running out of revenue.

Carper Looks for Bipartisan Solution to Gas Tax

A big argument against raising the gasoline tax to provide more money for transportation projects is that the gas tax, by its nature, affects low- and middle-income people more than it does the wealthy.

Online Sales Tax a Live-Wire Issue for Congress

Jason Chaffetz, the Utah Republican who chairs the House Oversight and Government Reform Committee, has assembled a bipartisan rump group around a proposal to empower states to collect sales taxes from online sellers outside their borders. At the same time, a loose coalition of retailers, state officials and allied groups is trying to rally support for the plan in both chambers of Congress.