Senate Finance Committee

A wave of departures from Congress' tax writing committees has intensified competition to fill critical roles in the next Congress. House Ways and Means and Senate Finance committees will see multiple members leave, creating openings for new representatives. Both parties are vying for positions on these influential panels, which shape major tax legislation.

Gov. Phil Scott vetoed S.190, a bill to implement reference-based pricing for health insurance, arguing it unfairly prioritized certain groups. His alternative proposal, H.585, aimed to expand insurance options through association health plans and other reforms but failed to pass the Senate Finance Committee. The debate centers on balancing cost-saving measures with equitable access for small businesses and young people.

Virginia legislators approved a $205 billion two-year budget that includes a new energy consumption tax on data centers, aiming to generate up to $600 million annually. The budget funds healthcare, public education, teacher raises, and a retail weed marketplace while addressing groundwater impacts from data centers. The data center tax compromise lacks environmental standards sought by the House and retains a sales tax exemption through 2035.

North Carolina's House Bill 1094, advancing through the Senate, introduces regulations for electric bicycles and personal delivery devices. The bill classifies e-bikes, allows local governments to set usage limits, mandates helmets for riders under 18 on faster e-bikes, and modifies rules for delivery robots to increase their size, speed, and operational areas. Additional provisions address license renewals, highway signage privatization, and ferry system audits.

Bob Packwood, a Republican Senator from Oregon who resigned after a sexual harassment scandal, has died at 93. He was known for advocating abortion rights before the allegations overshadowed his career.

Bob Packwood, a Republican senator from Oregon known for advocating abortion rights, resigned in 1995 after an ethics investigation into sexual harassment allegations. He died at 93, with his legacy overshadowed by misconduct claims that emerged late in his career.

US Treasury Secretary Scott Bessent stated that China is interested in additional Boeing plane purchases, which the Trump administration plans to discuss during President Xi Jinping's September visit to the United States. A prior agreement for 200 Boeing aircraft was mentioned, with potential for a larger commitment.

Treasury Secretary Scott Bessent declined to confirm whether President Donald Trump and his family retain IRS audit immunity after the administration canceled a $1.776 billion compensation fund. Democratic lawmakers criticized Bessent for avoiding the issue during a Senate Finance Committee hearing, while a federal judge reopened Trump’s lawsuit against the IRS to investigate claims of abandoned scrutiny of the settlement.

Treasury Secretary Scott Bessent declined to confirm whether President Donald Trump and his family retain IRS audit immunity after the administration abandoned a $1.776 billion compensation fund. The decision to scrap the fund faced bipartisan backlash, and the status of Trump's audit immunity remains unclear amid ongoing litigation.

Treasury Secretary Scott Bessent testified before the Senate Finance Committee, supporting the U.S. Strategic Bitcoin Reserve and urging passage of the Clarity Act. The reserve, established via executive order, holds 328,372 BTC acquired through criminal forfeitures, and the BITCOIN Act proposes authorizing the Treasury to purchase up to one million bitcoin over five years.

Treasury Secretary Scott Bessent will testify before the Senate Finance Committee on President Trump’s fiscal 2027 budget request for the Treasury Department, which seeks $11.5 billion in funding—a 12 percent decrease from 2026. The hearing occurs amid rising affordability concerns.

Health secretary Robert F. Kennedy Jr. faced intense Senate questioning over his handling of the measles outbreak and vaccine misinformation. Senator Ron Wyden criticized Kennedy for undermining public trust in vaccines and avoiding responsibility for promoting life-saving immunizations.

Health and Human Services Secretary Robert F. Kennedy Jr. will testify before the House Ways and Means Committee on Trump administration HHS policies and the fiscal 2027 budget. This marks his first Capitol Hill appearance since a contentious Senate Finance Committee hearing.

Health Secretary Robert F. Kennedy Jr. faces Congress for the first time in six months amid diminished influence, with hearings focusing on controversial vaccine policies and setbacks like a federal judge blocking changes to the childhood vaccine schedule. The Trump administration has reined in his agenda, elevating Chris Klomp as his de facto chief of staff and shifting focus to drug pricing.

The U.S. Treasury reports 53 million filers used Trump-era tax provisions in 2026, with significant numbers claiming specific deductions. Despite claims of tax savings, 70% of Americans still believe taxes are too high, while the IRS faces criticism over workforce cuts and data sharing practices.