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Jorge Castro Quoted on Prospects for Tax Bill in Lame Duck Session

Subtitle
"Congress Likely to Punt Tax, IRS Funding to Lame Duck or Beyond"

Tax Notes

Jorge Castro, former Counselor to the IRS Commissioner and former Congressional tax counsel, commented on Congress's efforts to prevent a government shutdown and the likelihood of a year-end tax bill. With Congress returning from a long break in the week of September 9, the focus will be on how to avoid a shutdown by September 30, the end of the fiscal year. The method chosen, particularly if it involves a continuing resolution (CR) to extend funding into the end of 2024, could impact a potential year-end tax package. Castro highlighted that a potential bill isn't likely dead yet, noting the current political context and the possibility of legislative action post-election. "I think both parties are seeing it from that [hyper-political] lens and what's going to help or not help with their political objectives for the November elections." But political considerations could be less of a factor after the November elections, Castro said.