2017Issue6_Alabama_v9.indd

WASHINGTON REPORT

FDA Menu Labeling Regulations There wasn’t much downtime in between the menu labeling regulation being delayed to May 7, 2018, and our attempts to find a solution that creates the flexibility needed for grocers to feasibly comply. In July, the House Energy and Commerce Committee held a markup on the Common Sense Nutrition Disclosure Act (H.R. 772) and approved the bill. A companion bill has been introduced in the Senate, and we continue to encourage our legislative champions to push for a floor vote in both the House and Senate this fall. On the regulatory front, NGA submitted written comments to the FDA highlighting industry’s concerns with the proposed menu labeling rule. NGA also worked with member companies to file comments with the agency as well. ■

Tax Reform One of President Trump’s largest promises on the campaign trail included modernizing the tax code – something that hasn’t been done in over 30 years since Ronald Reagan was in office. In July, Republican leaders from the Administration, the House and the Senate released a long-awaited document that outlined where Congress and the White House hope to go on tax reform. A provision that was not included in the document: the border adjustment tax (BAT). With the exclusion of BAT, it does leave questions as to where Congress will look for the revenue to offset any tax cuts included in reform. One of the places that Congress could look to for revenue is the last-in, first- out (LIFO) method of accounting.

Prior to the release of this framework, NGA participated in a roundtable discussion at the White House on our industry’s priorities for tax reform, including lowering the tax rate across the board, maintaining the interest expense deduction, creating parity between pass-through entities and C-Corporations, preserving LIFO, rejecting a BAT, and permanently repealing the estate tax. It’s expected that the Administration will take that feedback and incorporate it into a more detailed framework by September. After that, the tax-writing committees in the House and Senate will be charged with hammering out the rest of the details. Rep. Kevin Brady (R-TX), Chair of the House Ways and Means Committee, has said he hopes to have a package on his desk by the end of the year.

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