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Jorge Castro Quoted on the Future of Several Tax Bills in Law360

Subtitle
"5 Tax Bills To Watch This Summer"

Law360

Jorge Castro, former Counselor to the IRS Commissioner and former Congressional tax counsel, discussed the outlook for several tax proposals that House and Senate lawmakers will be considering when they return to Washington, DC on June 3. At the top of the Congress's list will be the Tax Relief for American Families and Workers Act (H.R. 7024), which aims to restore business tax breaks and expand the child tax credit. Additional tax bills that Congress will be considering include the Federal Disaster Tax Relief Act, the Foreign Grant Reporting Act, the Taxpayer Data Protection Act, and the Foreign Election Interference Act – which all could be considered later this year or in a lame-duck Congressional session, Castro noted. Castro added that the prospects for these narrower tax bills could be tied to the broader H.R. 7024 tax package, which could be receiving a vote on the Senate floor soon and have its fate determined.