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ARTICLE · 10 JANUARY 2014

Federal Tax Policy Update

Number of the Week: 2014. It's a new year with lots of change coming on the tax policy horizon.

United StatesTax

Number of the Week: 2014. It's a new year with lots of change coming on the tax policy horizon.

LEGISLATIVE LANDSCAPE

Senate, House Return to Washington. The Senate returned from its winter recess on Jan. 6 and made history with the confirmation of Janet Yellen to be the next chair of the Federal Reserve -- the first woman ever to lead the central bank.

Yellen's confirmation was expected to pass the Senate, but many were surprised by a subsequent vote on Jan. 7 to proceed to the consideration of a bill extending unemployment benefits. Six Republicans voted with the Democrats to break the filibuster. A vote on the actual bill is expected later in the week.

The House returned Jan. 7 with votes scheduled at the end of the week regarding issues of transparency and security of private information on the insurance exchanges established under the Affordable Care Act.

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