WE F Go ve rnme nt Affa irs Upda te Ja nua r y 11, 2018 1 2:30 - PDF document

1/12/2018 WE F Go ve rnme nt Affa irs Upda te Ja nua r y 11, 2018 1 – 2:30 PM Cla udio T e rnie de n, Sr. Dir. F o r Go ve rnme nt Affa irs Ste ve Dye , L e g isla tive Dire c to r Wa te r Se c to r Prio ritie s Be fo re Co ng re ss a nd the T rump Administra tio n fo r 2018 1

1/12/2018 We bc a st Ag e nda Co ng re ssio na l Upda te • F Y18 Appro pria tio ns • T a x Re fo rm • Pe nding Ma jo r L e g isla tio n Re g ula to ry Upda te • Na tio na l Nutrie nts Study • CSO No tific a tio n F ina l Rule fo r the Gre a t L a ke s • Wa te rs o f the US Upda te 2018 Wa te r We e k Wa te r Advo c a te s CONGRE SSIONAL UPDAT E 2

1/12/2018 CONGRE SS: F Y18 Appro pria tio ns F isc a l Ye a r 2018 Appr opr ia tions FY15 FY16 FY17 Senate Our House FY18 Enacted Enacted Enacted FY18 Request Program $1.45B $1.35B $1.394B $1.144B $1.394B $2.8B Clean Water SRF $907M $863M $863M $863M $864M $1.8B Drinking Water SRF $28M $30M $30M $45M WIFIA $2.36B $2.213B $2.285B $2.037B $2.288B $4.645B Total Combined 3

1/12/2018 F isc a l Ye a r 2018 Appr opr ia tions Program FY17 Enacted FY18 Proposed FY 18 House FY18 Senate Function loans and grants for USDA’s drinking water and Water/Wastewat $392 M $0 $359 M $394 M wastewater er Grant and construction in rural Loan Program communtiies HUD’s grants to Community communities for Development $3 B $0 $2.9 B $3 B infrastructure Block Grant projects, among (CDBG) Program other things grants and loans to communities for U.S. Economic infrastructure Development $221 M $0 $140 M $100 M projects to promote Administration economic growth, among other things CONGRE SS: T a x Re fo rm 4

1/12/2018 T a x Re form a nd Jobs Ac t of 2017 Current Law New Law Impact Tax ‐ Exempt ∙ Interest earned on ∙ Maintains the No Change Municipal municipal bonds is tax ‐ exempt status of Bonds taxexempt municipal bonds, ∙ The current municipal including for bond market is $3.1 professional sports trillion stadiums Advance ∙ Governmental bonds – ∙ Eliminates the ∙ Many have impact on Refunding including municipal tax ‐ exempt status of availability of funds for Bonds bonds – are permitted advance refunding local infrastructure one advance refunding bonds investments. Advance during the lifetime of the ∙ The provision would be refunding bonds allow bond effective December 31, counties to take ∙ 8,353 advance 2017 and generates advantage of refunding bonds were $17.3 billion in new fluctuations in interest issued from 2012 to revenue for the federal rates to realize 2016, saving taxpayers government over ten considerable savings to $12 billion over that time years the local government and taxpayers on municipal debt. T a x Re form a nd Jobs Ac t of 2017 Current Law New Law Impact State and ∙ Any individual or family ∙ Retains a capped ∙ Eliminating or Local Tax who itemizes their tax $10,000 SALT deduction capping the SALT (SALT) returns may deduct either for a combination of deduction would Deduction state and local income property taxes and shift revenue from taxes or state and local sales either income or sales state and local taxes paid taxes governments to the ∙ Any taxpayer who itemizes ∙ Generates nearly $1 federal government, may also deduct property trillion in new revenue constraining local taxes paid for the federal policy options government Private ∙ Interest earned on PABs is ∙ Maintains the No Change Activity tax ‐ exempt tax ‐ exempt status of Bonds (PABs) ∙ In 2016, over $72 billion in PABs PABs were issued by nonprofit hospitals and universities, and over $12 billion were issued to support airports, housing and rural public cooperatives 5

1/12/2018 T a x Re form a nd Jobs Ac t of 2017 Current Law New Law Renewable ∙ Wind energy tax credits are extended at ∙ Maintains wind and solar energy Energy current levels through 2020 credits as established under Credits ∙ Solar energy tax credits are extended at current law current levels through 2022 Mortgage ∙ Individuals may use the mortgage ∙ Reduces the mortgage interest Interest interest deduction up to $1 million for deduction limit to $750,000; Deduction both their principal residence and one maintains it for primary and additional home secondary homes ∙ Eliminates the interest deduction of home equity debt Deductions ∙ Taxpayers may claim expenses relating ∙ Eliminates the deduction for for to the trade or business of being an certain public ‐ sector employee Expenses employee if they itemize deductions. expenses Attributable ∙ This includes certain allowances for to Being teachers, state and local government an Employee staff, and other employees T a x Re form a nd Jobs Ac t of 2017 Current Law New Law Charitable ∙ Individuals and families who ∙ Maintains deductions for charitable Giving itemize their tax returns may donations Deduction deduct charitable contributions ∙ The Joint Committee on Taxation estimates from their federally taxable the proposal would reduce itemized income charitable donations by $94.8 billion in 2018 Medical ∙ Medical expenses that exceed ∙ Maintains the medical expense deduction Expense 10 percent of an individual’s and lowers the threshold to 7.5 percent of an Deduction adjusted gross income (AGI) may individual’s AGI for 2017 and 2018; reverts to be deducted current law in 2019 Affordable ∙ Individuals or families who are ∙ The individual mandate is repealed Care Act not covered for a specified ∙ The Congressional Budget Office estimates (ACA) portion of the taxable year may this generates $318 billion over 10 years due Individual face a fee; to reduced Mandate subsidy payments from the federal government, and will result in 13 million fewer individuals receiving health insurance coverage 6

1/12/2018 T a x Re form a nd Jobs Ac t of 2017 Current Law New Law Corporate Tax ∙ The current corporate tax rate is ∙ Drops the corporate tax rate to 21 Rates 35 percent. Pass ‐ through percent corporations file on the individual side of the tax code and are subject to the individual tax brackets and rates Child Tax Credit ∙ A parent can claim a $1,000 tax ∙ Increases the CTC to $2,000 and (CTC) credit for any child under the age expands the refundable portion of the of 17 tax credit ∙ Increases phase ‐ out thresholds to $200,000 for a single parent and $400,000 for a couple filing jointly Education ∙ Individuals may use tax ∙ Allows for up to $10,000 in annual Saving advantaged distributions from 529 plans for Incentives plans under Section 529 to save for public, private or religious elementary future college costs or secondary school, or home school expenses T a x Re form a nd Jobs Ac t of 2017 So urc e : www.fo rb e s.c o m 7

1/12/2018 T a x Re form a nd Jobs Ac t of 2017 So urc e : www.fo rb e s.c o m Ma jo r Pe nding CONGRE SS L e g isla tio n 8

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1/12/2018 WIF IA Upda te 12

1/12/2018 WIFIA Important Program Features Maximum time that repayment Minimum project size for may be deferred after substantial large communities. completion of the project. Minimum project size for Interest rate will be equal to or small communities greater than the U.S. Treasury rate (population of 25,000 or of a similar maturity. less). Maximum portion of Projects must be creditworthy. eligible project costs that WIFIA can fund. NEPA, Davis-Bacon, American Maximum final maturity Iron and Steel, and all federal date from substantial cross-cutter provisions apply. completion. 25 RE GUL AT ORY UPDAT E 13

1/12/2018 sc re e ning q ue stio nna ire fina l Pub lic No tific a tio n Re q uire me nts fo r Co mb ine d Se we r Ove rflo ws to the Gre a t L a ke s. 14

1/12/2018 pro po se d Wa te r We e k 2018 Washingto n, DC April 15 – 21 15

1/12/2018 • WE F ME E T INGS WE F Go ve rnme nt Affairs Co mmitte e Me e ting WE F Yo ung Pro fe ssio nal Ne two rking L unc h T ue sda y, April 17, 9:30 AM – 11:30 AM T ue sda y, April 17, No o n – 1:30 PM Wa shing to n Co urt Ho te l, Mo ntpe lie r Ro o m Wa shing to n Co urt Ho te l, Mo ntpe lie r Ro o m • NAT IONAL WAT E R POL ICY F L Y- IN Wa shing to n Co urt Ho te l, Gra nd Ba llro o m April 17 th , 2 PM – 5 PM April 18 th , 7 AM – 7:30 PM • JOINT WAT E R ASSOCIAT IONS BRIE F ING Ca pito l Visito rs Ce nte r Audito rium April 18 th , 9:30 – 11:30 AM • JOINT WAT E R ASSOCIAT IONS CONGRE SSIONAL RE CE PT ION L ib ra ry o f Co ng re ss, Mo ntpe lie r Ro o m April 18 th , 5:30 PM – 7:30 PM 16

1/12/2018 HOT E L RE GIST RAT ION: Washington Cour t Hote l 525 Ne w JE RSE Y AVE ., NW WASHINGT ON, DC 20001 202- 628- 2100 RE SE RVAT ION: www.g oo.g l/ wskJF 8 Gr oup=Wa te r 0418 Hand- o ut fro m 2017 Fly - In! www.wa te rwe e k.us 17

1/12/2018 Hand- o ut fro m 2017 Fly - In! www.wa te rwe e k.us CAL L T O ACT I ON 18

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