Senate Continues Markup of Tax Reform Proposal: Today, the Senate Finance Committee continued its markup of the Tax Cuts and Jobs Act. Chairman Hatch (R- UT) said he expects to release a modified chairman’s mark later today. The Democrats on the committee understood that the mark would contain provisions relating to the repeal of the Affordable Care Act individual mandate and wanted to be able to offer additional Affordable Care Act amendments. The chairman ruled that the only amendments permitted to be proposed would be those relating to the Internal Revenue Code and not to other healthcare matters under the jurisdiction of the committee. The markup is set to resume tomorrow at 9 a.m.
House Rules Committee Expedites Consideration of Tax Bill: The House Rules Committee is set to convene this evening at 6:30 to consider H.R. 1, the Tax Cuts and Jobs Act. The committee had originally planned to meet tomorrow at noon.
Miscellaneous Guidance: Notice 2017-69 provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates under section 417(e)(3), and the 24-month average segment rates under section 430(h)(2). The notice also provides guidance as to the interest rate on 30-year Treasury securities under section 417(e)(3)(A)(ii)(II) as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate under section 431(c)(6)(E)(ii)(I).