DC Tax Flash: Stop-Gap Government Funding Bill Advances to Senate
Tax Alert
Last night, the House approved a temporary spending bill (H.R. 8337) that would prevent a government shutdown at the end of this month by funding government operations through December 11, 2020. The bill, which passed on a bipartisan 359-57 tally, reflects an agreement reached by congressional leaders and the administration on farming assistance, nutrition programs, and other details.
Except for several trust fund extensions and transfers, the spending bill does not include provisions affecting tax policy.
The next step is Senate consideration, which must occur in the next seven days. October 1, 2020 marks the start of Fiscal Year 2021.
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