The Cozen Lens

• Congress isn't in its tax heyday like it was in 2017 or 2021, but tax policy is far from dormant as the Biden administration focuses on implementing the Inflation Reduction Act tax agenda and a major tax cliff looms on the horizon.

• Both Federal Trade Commission Chair Lina Khan and Securities and Exchange Commission Gary Gensler are viewed as progressive regulators, but their approaches are distinctly different.

• Julie Su’s confirmation to succeed Marty Walsh as secretary of Labor is far from certain, but as acting secretary, she’s already overseeing President Biden’s ambitious labor agenda.

The Tax Man Cometh

Taxes Today: It's All About Implementing. The Inflation Reduction Act (IRA) included hundreds of billions in clean energy tax credits and corporate offsets. Its implementation by the Biden administration this year will have far-reaching implications for the future of industrial policy.

• The Treasury Department and the Internal Revenue Service (IRS) are in the process of issuing guidance for the IRA, which passed last August. The hastily written legislation left the Biden administration to fill in the details.
• President Biden wants to run in 2024 on a successful implementation of industrial policy from legislation passed last Congress. But it's a balance of priorities. Democrats want to deploy clean energy tax credits to quickly decarbonize the economy, however, that can conflict with promoting the domestic supply chain.
• Poor implementation of...

Read Full Story: https://news.google.com/rss/articles/CBMiT2h0dHBzOi8vd3d3Lmpkc3VwcmEuY29tL2xl...