David Skillman Weighs in on Top Federal Tax Policies of 2024 for Law360

Legislative & Public Policy Managing Director David Skillman was recently quoted in the Law360 article, “Top Federal Tax Policies of 2024.”

Skillman discussed the Tax Relief for American Families and Workers Act of 2024, passed by the U.S. House of Representatives but blocked in the Senate by Republicans. Skillman noted that the bill’s failure was “really instructive,” because it was crafted by House Ways and Means Committee Chairman Jason Smith (R-Mo.) and Senate Finance Committee Chairman Ron Wyden (D-Ore.), yet their leadership positions did not ensure Senate approval. “It was a great start for tax watchers,” he added.

Skillman also noted that the Inflation Reduction Act regulations issued by the U.S. Department of the Treasury will have “meaningful taxpayer effects” and “they unlock the value of the Inflation Reduction Act.”

“There’s a lot of technology development [and] supply chain development and all these pieces that go into the regulatory process,” Skillman continued. The relationship between the Treasury and the U.S. Department of Energy has also been strengthened as a part of the rulemaking process, he added. “I think that’s a really interesting policy development,” he said. “And the question for me is, 'Does all that hard work pay off?' Meaning, do we preserve the [Inflation Reduction Act] in the face of what comes next?”

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