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TikTok headlined on the Hill after a four-and-a-half-hour meeting where the House Energy and Commerce Committee questioned TikTok CEO Shou Zi Chew about the influence and data access the Chinese government allegedly has over the social media app.

The last week on the Hill was filled with talks of bank failures, recession, and the economy as the government as Wall Street attempted to rescue several banks in distress, starting with two regional banks: Silicon Valley Bank and Signature Bank. 

On Thursday, President Joe Biden released his $6.8 trillion budget proposal to fund the government for fiscal year 2024. 

This Week on the Hill: in the wake of the Ohio train derailment, many members of Congress focused on introducing a bipartisan rail safety bill, Democrats were busy with their annual House Democratic retreat, and there was a lot of talk about China…

The Hill has been quiet as Congress was out for a two-week recess, but activity resumed as they returned for a few days. Here’s what’s been happening.

This week we’ve got updates on the debt limit, including negotiations between Democrats and Republicans and a newly released report from the Congressional Budget Office. 

This week we’ve got updates on what the president said about tax policy in the State of the Union, an update on the debt limit, and news on broadband and manufacturing bills. 

This week we’ll preview several tax policies that have been waiting in the wings for Congress to address, including a farm bill, technical glitch fix, trade legislation, and supply chain legislation. 

There are a number of legislative efforts being introduced to help add some checks to what members of Congress do outside the chambers. Also, we have some updates on tax extenders and the debt limit.

Happy New Year! In the first installment of From the Hill for 2023, we’ll catch you up on the FY 2023 spending bill and how it may affect the tax landscape.