DC Dynamics

Episode 25 of DC Dynamics examines the Trump administration's tax deregulatory agenda, focusing on how Treasury and the IRS are using regulatory authority to simplify or roll back complex tax rules rather than pursuing new legislation. Host Ray Beeman, managing partner at Washington Council EY, and Colleen O'Neill, EY US National Tax Department Leader, discuss how this effort builds on the first Trump administration's review of "burdensome" tax regulations and is guided by principles such as avoiding overly complex rules, favoring safe harbors, allowing reasonable compliance methods, and respecting statutory limits after the Loper Bright Supreme Court decision.

In DC Dynamics episode 24: The Future of Tax Rules for Crypto and Digital Assets, host Ray Beeman, managing partner at Washington Council EY, and Bill Rys from the WCEY team walk through the current policy landscape for the tax treatment of cryptocurrency and digital assets.  

In DC Dynamics episode 23: The Latest Trade Winds, host Ray Beeman, managing partner at Washington Council EY, sits down with trade experts Blake Harden and Evan Giesemann from the WCEY team. Together, they unpack the latest developments in U.S. trade policy, covering topics such as sector-specific tariffs, legal challenges to tariffs imposed under the International Emergency Economic Powers Act (IEEPA), and the upcoming review of the U.S.-Mexico-Canada Agreement (USMCA).

In DC Dynamics episode 22: Prospects for additional tax and health legislation, host Ray Beeman, Washington Council EY's managing partner, walks through the current legislative landscape and the two potential paths that Republicans can take to address additional legislation this year—either through a budget reconciliation vehicle or a potential package of bipartisan priorities that could be attached to a year-end legislative vehicle, like a spending bill. For more information on budget reconciliation, be sure to check out the budget reconciliation basics page on EY.com:  https://www.ey.com/en_us/insights/tax/budget-reconciliation-basics Washington Council Ernst & Young (WCEY) is a tax, legislative and regulatory group within Ernst & Young LLP that combines the power of a leading professional services organization with the on-the-ground knowledge, personal relationships and attention to detail of a boutique Washington-insider firm. https://www.ey.com/en_us/services/tax/washington-council-ernst-young  

In DC Dynamics episode 21: Solving the Tax Bill Buzzle, host Ray Beeman, Washington Council EY's managing partner, discusses the Republican-led reconciliation bill focused on extending the Tax Cuts & Jobs Act (TCJA) provisions set to expire at the end of 2025. The episode highlights how Speaker Mike Johnson narrowly passed the House version of the "One Big Beautiful Bill," navigating various internal Republican factions and relying on President Trump's intervention. In addition, Beeman walks through some of the challenges ahead in the Senate, including potential Byrd Rule violations, concerns about Medicaid cuts, and the need to maintain a delicate balance to secure enough votes. While a large tax bill seems inevitable given the Republican majority and presidential support, the specific details and timing remain uncertain, with a likely push for passage before the August recess. For more information on budget reconciliation, be sure to check out the budget reconciliation basics page on EY.com:  https://www.ey.com/en_us/insights/tax/budget-reconciliation-basics Washington Council Ernst & Young (WCEY) is a tax, legislative and regulatory group within Ernst & Young LLP that combines the power of a leading professional services organization with the on-the-ground knowledge, personal relationships and attention to detail of a boutique Washington-insider firm. https://www.ey.com/en_us/services/tax/washington-council-ernst-young

In DC Dynamics episode 20: Budget Reconciliation Basics, special guest host Heather Meade, head of Washington Council Ernst & Young's health team, and Lisa Wolski, the newest member of WCEY's tax team, walk through the basics of budget reconciliation. Budget reconciliation is a process that permits legislation impacting revenues and spending to pass the Senate with 51 votes rather than the 60-vote filibuster threshold for most other legislation. Spending, revenue, or the debt limit (though rare) may be addressed under reconciliation together or separately, but only once per budget resolution, and only one budget resolution can be approved for each fiscal year. If either party sweeps in the 2024 elections, the process could be used to enact tax legislation. For more information on budget reconciliation, be sure to check out the budget reconciliation basics page on EY.com:  https://www.ey.com/en_us/insights/tax/budget-reconciliation-basics Washington Council Ernst & Young (WCEY) is a tax, legislative and regulatory group within Ernst & Young LLP that combines the power of a leading professional services organization with the on-the-ground knowledge, personal relationships and attention to detail of a boutique Washington-insider firm. https://www.ey.com/en_us/services/tax/washington-council-ernst-young  

In DC Dynamics episode 19: Super Bowl of Tax Pregame, host Ray Beeman, Washington Council Ernst & Young's managing partner, and Ryan Abraham, WCEY partner, take a look at the 2017 Tax Cuts & Jobs Act, a big portion of which is slated to expire next year and may bring a reconsideration of the current US tax system along with it. This will happen at the end of 2025 with the big unknown ahead of us before we get there – the 2024 presidential and congressional elections. Until we get to November 5th, only so much can be known about the political environment in which that deadline will fall, and the biggest factor clearly is who will be in control of the government.   Ray and Ryan walk though possible scenarios of how the TCJA extension could be addressed if the election outcome is a red or blue wave—if one party sweeps—or if there is a divided government.

In DC Dynamics episode 18: Taxmageddon: The Trailer, host Ray Beeman, Washington Council Ernst & Young's managing partner, provides an update on the pending tax bill in Congress and provides a preview of the looming tax debate when a big portion of the 2017 Tax Cuts and Jobs Act is slated to expire at the end of 2025. Washington Council EY helps clients achieve their legislative and regulatory objectives. In each case, the goal is to help you seize opportunities or mitigate risks so you stay ahead of changes brought by passage of new legislation, promulgation of new regulations or electoral outcomes. Learn more:  Washington Council Ernst & Young | EY - US

In DC Dynamics episode 17: Time After Time: History of the Tax Extenders, host Ray Beeman, Washington Council Ernst & Young's managing partner, takes us down memory lane to explore the history of "tax extenders" – and why some extenders are made permanent, some are extended, and others are simply allowed to expire. Washington Council EY helps clients achieve their legislative and regulatory objectives. In each case, the goal is to help you seize opportunities or mitigate risks so you stay ahead of changes brought by passage of new legislation, promulgation of new regulations or electoral outcomes. Learn more:  https://www.ey.com/en_us/tax/washington-council-ernst-young

In DC Dynamics episode 16: Monumental Decisions, host Ray Beeman, Washington Council Ernst & Young's managing partner, plays tour guide for this pre-August recess edition and walks through many of the open tax policy issues currently facing Congress. Washington Council EY helps clients achieve their legislative and regulatory objectives. In each case, the goal is to help you seize opportunities or mitigate risks so you stay ahead of changes brought by passage of new legislation, promulgation of new regulations or electoral outcomes. Learn more:  https://www.ey.com/en_us/tax/washington-council-ernst-young