Neither of those items appear to be in the legislative text released Wednesday night. Recall that earlier this month, nearly 200 trade associations took aim at two tax provisions Democrats were eyeing for the bill: One that would expand a 3.8 percent surcharge on investment income known as the net investment income tax, and another that would expand and extend a limit on loss deductions by small businesses. Joe Manchin (D-W.Va.) and Senate Majority Leader Chuck Schumer, the deal leaves out other tax changes rumored to have been in the works that the industry spoke out on. And be sure to follow me on Twitter: SCORED SOME WINS IN TAX TITLE: While much of the business community has dinged the so-called book minimum tax included in the reconciliation deal struck by Sen. Send K Street tips and musings and your Renaissance unskippables. Happy Friday and welcome to PI, where we’re glad that after this week we all can have a new Beyoncé album to listen to, as a treat. And then, you know, it got walked back during the last administration, and now Biden's trying to push it forward” again, he said. Other questions have come from “those countries that feel like the U.S. Part of it is explaining those mechanisms to foreign representatives whose governments work off a parliamentary or unicameral structure. “I think it's hard enough if you've spent, you know, 20 years on Capitol Hill, to understand a privileged message coming from the House, and what the Byrd process means,” he continued, referring to procedural requirements for the reconciliation process Democrats are using to skirt a GOP filibuster. about, you know, what just happened and how is the next … seven to nine to 12 days going to play out?” “They're reporting back to their capitals from here in D.C. “They wanted to better understand the process,” said Turner, who previously served as chief of staff to Senate Foreign Relations Chair Bob Menendez (D-N.J.). Foreign governments have expressed interest in the latest legislative surprise as well, BGR’s Fred Turner told PI. FARA FRIDAY: Lobbyists in Washington weren’t only fielding queries over the last 48 hours from corporate clients asking for a read on Democrats’ newly expanded reconciliation package.
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