How will Congress address debt limit and President Biden’s budget proposals? (6:38)

Karl Russo
Monday, February 27, 2023

Karl Russo discusses the Congressional Budget Office’s updated budget and economic outlook for 2023 to 2033 and proposals we may see in President Biden’s FY 2024 budget. He shares his insights on how Congress may address the debt limit and respond to the president’s budget proposals. Included in this email are three episodes filmed at PwC’s International Tax Conference that cover tax operations.

Karl Russo, Leader, PwC’s National Economics & Statistics Practice
Nita Asher, Host, Policy on Demand
Scott McCandless, Host, Policy on Demand

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Highlights and key takeaways from PwC's International Tax Conference
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What companies should know about the Foreign Subsidy Regulation and the new Green Deal
Recent corporate alternative minimum tax guidance, what to expect next

Happening this week
- Congress returns this week after a Presidents Day recess for a five-week legislative work period.
- Both the House Ways and Means Committee and the Senate Finance Committee are expected to hold hearings in March on President Biden’s FY 2024 budget proposals, which are scheduled to be released on March 9.
- Other House and Senate committees will hold hearings in March on the president’s budget.
- The Finance Committee is expected to vote in March on the nomination of Danny Werfel to serve a five-year term as IRS commissioner.
- The House Ways and Means Committee is expected to hold a March 7 field hearing in Oklahoma City on tax issues affecting the oil and gas, agribusiness, and manufacturing sectors.

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