In testimony before the Senate Subcommittee on Financial Services and General Government, Federal Trade Commission Chair Joseph Simons defended the agency's budget request for FY 2019.
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Members of the House Subcommittee on Monetary Policy and Trade considered testimony on proposed legislation to expand the jurisdiction, and update the operations, of the Committee on Foreign Investment in the United States.
U.S. Senate Finance Committee members and industry experts debated recommendations on business tax reform.
The IRS and the U.S. Treasury Department examined proposed regulations to the Internal Revenue Code that would recharacterize certain debt instruments issued to related parties as equity for U.S. federal income tax purposes.
The Internal Revenue Service and the Treasury will hold a public hearing to review jointly proposed debt-equity regulations. The proposed regulations were published in the Federal Register.