This week (June 6-10)

Congress in: The House and Senate are back in session.

AEI event: On Tuesday, June 7 (at 8:45 a.m.), the American Enterprise Institute will hold an event on "U.S. Corporate Tax Reform in 2017: Exploring the Options."

Last week (May 30-June 3)

Speaker Ryan, President Obama on Trump: The presidential race continued to evolve as Speaker Paul Ryan (R-WI) announced June 2 that he will vote for presumptive Republican nominee Donald Trump. In an editorial published by his hometown newspaper, The Janesville Gazette, Speaker Ryan said the main focus of his lengthy conversations with Trump has been the forthcoming House policy agenda that is focused on six areas, including tax reform, and that is intended to provide voters a clear choice about the future of the country. "This month, we'll show the country what a better tax code looks like … " Ryan said. "It will be a positive, optimistic vision for a more confident America." The Speaker said he and Trump have talked about the common ground the agenda can represent, how the House can be a driver of policy ideas, and the need to focus on issues that unite Republicans. "Through these conversations, I feel confident he would help us turn the ideas in this agenda into laws to help improve people's lives. That's why I'll be voting for him this fall," the Speaker said. Policy blueprints developed under the six House task forces are set to be rolled out one at a time during the month of June, beginning with the plan addressing poverty.

Meanwhile, in a June 1 speech on the economy in Elkhart, Indiana, President Obama cited tax policy as a reason to vote against Donald Trump, saying: "even as the top 1% is doing better than ever … the Republican nominee for President's tax plan would give the top one-tenth of 1% — not the top 1%, the top one-tenth of 1% — a bigger tax cut than the 120 million American households at the bottom. It would explode our deficits by nearly $10 trillion. I'm not making this up. You can look at the math. That will not bring jobs back. That is not fighting for the American middle class. That will not help us win. That is not going to make your lives better. That will help people like him. That's the truth." Like Speaker Ryan, the President said voters have a choice to make, and in his view an economic choice of more or less inequality. "Between stacking the deck for the folks who are already doing great or making sure everybody has a chance to succeed. That's the economic choice you face," President Obama said. "That's what's at stake in this election — two very different visions for our economy." The President also said Republicans have opposed Administration efforts to close tax loopholes used by corporations and "tax cheats who are trying to hide their wealth in offshore accounts." Big corporations and wealthy individuals not paying their fair share of taxes means average citizens pay more or the nation lacks the necessary revenue for funding priorities such as infrastructure and education, he said.

Ways and Means tax efforts: A May 31 Politico report suggested that with near-term progress on tax reform uncertain, the House Ways and Means Committee may seek to mark up additional non-reform Member proposals to improve the tax system. "We're looking at it," said Chairman Kevin Brady (R-TX). "Dr. [Charles] Boustany and I are going to look at some of those provisions and determine if we'll put together a tax package going forward." The House Ways and Means Tax Policy Subcommittee May 12 held a hearing on Member proposals for improvements to the tax system that included testimony about legislation addressing charity, research, energy, and student loan issues, among others.

McConnell on tax reform as a priority: In a June 1 Charlie Rose interview on PBS, Senate Majority Leader Mitch McConnell (R-KY) repeatedly cited tax reform as a top priority. "The two biggest things the country needs right now for the future are changing the eligibility for very popular entitlement programs, and comprehensive tax reform," he said. "Those are the two sort of mega issues that will determine whether or not we succeed in the future. And divided government is the perfect time to do hard stuff because together, no one can take political advantage of it." Asked about the view of some that too much regulation can compromise the economic strength of the United States, Senator McConnell said, "Three things need to be done. Change the regulatory environment, adjust the entitlements to fit the future of America, and do comprehensive tax reform. Those three things, this country will take off like a rocket." Senator McConnell has been making an increased number of press appearances in conjunction with the release of his new memoir.

Quote of the Week

"Starting next week, we are unveiling our pro-growth solutions for addressing some of our nation's most pressing challenges. We refuse to accept millions of families living in poverty. We refuse to accept slow wage growth. We refuse to accept a failing health care system. And we refuse to accept a broken tax code that discourages innovation and job creation. We look forward to offering the American people an alternative that will move our country forward." — House Ways and Means Committee Chairman Kevin Brady (R-TX), June 3, as part of a statement in response to the Department of Labor's May 2016 jobs report

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