Treasury proposes tax-exemption rule for private schools using race-based policies
A proposed Treasury and IRS rule could affect private schools’ tax exemptions and donor deductions. Comments and hearing requests are due November 3, 2026.
Tax Policy
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GAO: Opportunity Zone Results Remain Unknown as Program Goes Permanent
A new GAO review says Opportunity Zone funds held more than $108 billion in assets, but states still lack clear evidence of effects on jobs and housing.
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Treasury Corrects Proposed Trump Account Tax Rule
A Federal Register correction fixes the hearing date and regulatory text for a proposed Trump Account rule. The tax treatment is not final.
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D.C. Council approves nearly $22 billion budget, reverses proposed housing and child-care cuts
The fiscal 2027 plan restores many cuts proposed by Mayor Muriel Bowser, uses one-time funds and changes how the District applies federal tax changes.
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Massachusetts sets Aug. 8-9 sales-tax holiday, suspending 6.25% tax for most items under $2,500
Massachusetts’ annual statewide sales-tax holiday is scheduled for Aug. 8-9, 2026, suspending the 6.25% state sales tax for most retail items priced under $2,500.
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Pennsylvania’s new budget leaves data-center oversight and power costs largely unresolved
Pennsylvania’s $50.8 billion 2026-27 budget requires large data centers to report annual energy and water use, but leaves utility-cost rules, siting policy and the state’s equipment tax exemption unresolved.
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Maine Affordability Payment Checks Set to Begin Mailing by July 31
Maine’s one-time $300 affordability payments are scheduled to begin mailing by July 31, 2026. Eligibility depends on a 2025 Maine return, full-year residency, income and dependency rules.
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AI Tax Integrity Act advances from Ways & Means with JCT “negligible” receipts impact
United States Congress and Budget Watch – House Ways & Means advances H.R. 9501, creating an IRS AI fraud-detection pilot; JCT calls receipts impact negligible.
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IRS says automatic penalty relief starts this summer—who qualifies and what to watch
The IRS says Automatic Exemption from Penalty (AEP) will replace parts of First Time Abate starting summer 2026—here’s who gets automatic relief.
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United States Congress and Budget Watch: H.R. 9501 AI tax integrity—what’s next
House Ways & Means advanced a seven-bill tax administration package on July 1, including H.R. 9501 on using AI for fraud detection and oversight.
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Huntsville’s TIF 9 heads to June 11 vote with school funding, VBC at stake
Huntsville, AL – The City Council is set to vote June 11 on TIF 9, a proposed downtown-and-north Huntsville financing plan tied to the VBC and schools.