Senate Tax Bill Passes Budget Committee: Today, the Budget Committee today reported out fiscal year 2018 Budget Reconciliation legislation. The text of the legislation as reported is here.

IRS Files Notice of Appeal in Anti-Inversion Rule Case: The IRS and Treasury Department filed a notice of appeal yesterday indicating their intent to appeal the decision of the U.S. District Court for the Western District of Texas in Chamber of Commerce of the U.S. v. IRS, W.D. Tex., No. 1:16-cv-00944, which invalidated the Treasury Department’s April 2016 regulation aimed at inhibiting corporate inversions.