On Tuesday, the House of Representatives voted 313-118 to reauthorize the Export-Import Bank of the United States (Ex-Im Bank or Bank), which expired June 30.
After failing to pass a TRIA reauthorization during the lame duck session last Congress, on January 7, 2015, the House passed H.R. 26, the Terrorism Risk Insurance Program Reauthorization Act of 2015, by a vote of 416-5. Shortly after on January 8, 2015, the Senate passed H.R. 26 by a 93-4 vote. Upon the President’s signature, TRIA will be reauthorized until December 31, 2020.
Twenty years ago, two years after the first inauguration of President Clinton, Republicans took control of both houses of Congress for the first time since 1953. Despite significant disagreements between Clinton and the Republican-controlled Congress, that period of 1995 through 2000 was a relatively productive one for the U.S. Congress, producing welfare reform, several tax bills, a balanced budget agreement, significant telecommunications legislation, and many other laws.
The last two weeks have seen significant developments in building the blocks for what could eventually form the base of U.S. tax reform. Most significant is the 979-page “Tax Reform Act of 2014” discussion draft from House Ways and Means Chairman Dave Camp (R-MI) — a sweeping, comprehensive reform package that would reduce U.S. corporate