• Contact Us
  • (510) 548-1962
Full-Service Accounting & Bookkeeping for Closely-Held Businesses
BOOKKEEPING • ACCOUNTING • PAYROLL • TAX Berkeley, Oakland, East Bay, San Francisco

BERKELEY OFFICE
2855 TELEGRAPH AVE., SUITE 300
BERKELEY, CA 94705

Tel: (510) 548-1962
Fax: (510) 315-3168
  • Home
  • Accounting Services
  • Tax Services
  • Resources
    • Newsletter
    • Tax Calendar
    • Financial Calculators
    • Tax Links
    • Financial Terms Glossary
    • Track your Refund
    • Cartoon of the Month
  • Our Team
  • Contact Us
    • Contact Us
    • Secure Invoice Payment
    • Job Openings
Blog Banner

News / Blog

Fighting Weapons Development, ISIS and Dyslexia

Congress at Work: Fighting Weapons Development, ISIS and Dyslexia

March 2016 - Posted in Congress at Work

North Korea Sanctions and Policy Enhancement Act of 2016 (H.R. 757) – This act is designed to block North Korea’s access to hard currency and goods that could be used for its weapons program and requires enhanced inspections of ships and aircraft. A secondary objective of the bill is to send a clear message of U.S. resolve to the United Nations and other governments, especially China, which is North Korea’s major ally and business partner. This bill would sanction any entity that facilitates North Korea’s development of weapons of mass destruction, arms-related materials, human rights abuses, and activities undermining cyber security. Penalties include the seizure of assets, visa bans and denied government contracts. Normally this type of bill would give the president the option to impose such sanctions, but this one includes language that makes most of the sanctions mandatory, with only a temporary waiver option in the event that U.S. national security is threatened. Introduced by Rep. Ed Royce (R-CA), Congress passed this bill (with a Senate vote of 96-0) on Feb, 12. It has been signed into law by the president.

United States-Jordan Defense Cooperation Act of 2015 (H.R. 907) – This bipartisan legislation was sponsored by Rep. Ileana Ros-Lehtinen (R-FL). It is designed to fortify military and economic ties between the U.S. and Jordan by amending the Arms Export Control Act to include Jordan as one of our trusted allies. This permits Congress to expedite approval of military equipment for Jordan to use in the fight against ISIS. The bill was passed by Congress on Feb. 10 and subsequently signed by the president.

Research Excellence and Advancements for Dyslexia (READ) Act (H.R. 3033) – Sponsored by Rep. Lamar Smith (R-TX), this bill was passed by both chambers in identical form and signed into law by the president. It requires that the president’s annual budget request include a line item for the Research in Disabilities Education program of the National Science Foundation and requires that foundation to continue ongoing research on dyslexia.

Electrify Africa Act of 2015 (S. 2152) – Sponsored by Sen. Bob Corker (R-TN), this bipartisan bill was passed by Congress and signed into law by the president. It requires the president to establish a strategy to encourage Sub-Saharan African countries to provide access to sufficient reliable energy for their citizens – 70 percent of who currently lack such access. The bill specifies a goal of promoting first-time access to power for 50 million people in urban and rural areas by 2020.

Fair Investment Opportunities for Professional Experts Act (H.R. 2187) – This bill would expand the Securities and Exchange Commission’s definition of an accredited investor to include individuals with the appropriate qualifications or experience but that that do not meet the prior wealth requirements (i.e., earn at least $200,000 a year or have a net worth of $1 million, not including primary residence). This expansion bill would allow more people to invest in private businesses toward the goal of creating new opportunities for economic growth. The bill, sponsored by Rep. David Schweikert (R-AZ), was passed by the House on Feb. 1 and is currently with the Senate.

› Read More
Share: [addtoany]
Attempting to Undermine Obamacare, Closing Bank Accounts and Protecting Children from Gummy Bear-Flavored Toxins

Congress at Work: Attempting to Undermine Obamacare, Closing Bank Accounts and Protecting Children from Gummy Bear-Flavored Toxins

February 2016 - Posted in Congress at Work

An Act to provide for reconciliation pursuant to section 2002 of the concurrent resolution on the budget for fiscal year 2016 (H.R. 3762) – If signed into law, this bill would have restricted the federal government from operating health care exchanges, phased out funding for subsidies to help lower- and middle-income individuals afford insurance through the health care exchanges, eliminated tax penalties for individuals who do not purchase health insurance and employers with 50 or more employees who do not provide insurance plans, eliminated taxes on medical devices and the so-called “Cadillac tax” on the most expensive health care plans, phased out the expansion of Medicaid over a two-year period, and ended federal funding of Planned Parenthood for one year by prohibiting Medicaid reimbursements for those services. At the end of 2015, Republican Congress members attempted to pass this bill using the budget reconciliation process, which is the one chance each year that the majority party can bypass a Senate filibuster to get a bill onto the President’s desk without needing a single vote from the minority party. Although the bill did get to the Oval Office, it was vetoed on Jan. 8.

Grants Oversight and New Efficiency Act or the GONE Act (S. 1115) – Sponsored by Sen. Deb Fisher (R-NE), this act will require agencies to close out expired, empty grant accounts. This legislation was initially introduced in 2013 in response to an article published in The Washington Post. The story reported that the government would spend $890,000 in bank account service fees for 13,712 bank accounts with a zero account balance. Congress passed the bill on Jan. 11 and it was sent to the President for signature.

Child Nicotine Poisoning Prevention Act of 2015 (S. 142) – Sponsored by Sen. Bill Nelson (D-FL), this bill requires special childproof packaging for liquid nicotine refill containers used in e-cigarettes. This effort is to help prevent children from directly ingesting the contents – which are sold in bright colors and flavors like cotton candy and gummy bear – causing serious and even deadly health consequences. This bill was passed by Congress on Jan. 11 and is currently with the President.

First Responders Passport Act of 2015 (H.R. 3750) – Sponsored by Rep. Darrell Issa (R-CA), this bill amends the Passport Act of June 4, 1920, to waive passport fees for individual who have contracted with the U.S. government (including volunteers) to aid a foreign country suffering from a qualifying natural disaster. This bill passed in the House on Dec. 16, 2015, and goes to the Senate next for consideration.

Combat Terrorist Use of Social Media Act of 2015 (H.R. 3654) – This bill, sponsored by Rep. Ted Poe (R-TX), passed in the House on Dec. 16, 2015, and presently is on the Senate docket. The Act would require the President to provide Congress with a report on U.S. strategy to combat terrorists’ and terrorist organizations’ use of social media. Among other provisions, the report must include an evaluation of the role social media plays in radicalization in the United States and elsewhere, an analysis of how terrorists and terrorist organizations are using social media, and provide a comprehensive strategy to counter terrorists’ and terrorist organizations’ use of social media.

› Read More
Share: [addtoany]
Spending, Testing, Vetoing and Cleaning Up Global Waters

Congress at Work: Spending, Testing, Vetoing and Cleaning Up Global Waters

January 2016 - Posted in Congress at Work

Consolidated Appropriations Act, 2016 (H.R. 2029) – This is the omnibus spending bill that will fund the federal government for the remainder of the fiscal year through Sept. 30, 2016. It includes the Military Construction and Veterans Affairs and Related Agencies Appropriations Act, which provides FY2016 appropriations to the Department of Defense for military construction, military family housing, the U.S. share of the North Atlantic Treaty Organization Security Investment Program, and base closures and realignments. The bill includes a provision prohibiting the VA from interfering with or denying services to veterans participating in state-approved medicinal marijuana programs. It was signed into law by President Obama on Dec. 18.

Every Student Succeeds Act of 2015 (S. 1177) – The chairman of the Senate committee on Health, Education, Labor and Pensions (HELP), Sen. Lamar Alexander (R-TN), sponsored this bill, which was passed by both houses and signed into law on Dec. 10. It is a bipartisan educational policy reform bill that expands state responsibility over schools and provides grants to charter schools. In addition, it reduces the federal test-based accountability system of No Child Left Behind. While the bill will continue NCLB’s federal assessments of student learning, it gives states the authority to act based on those results. The preserved NCLB conditions include holding all students to high academic standards, preparing all students for success in college and career, providing access to quality preschools for more children, reducing the burdens of testing while still providing quality data, and promoting local innovation and investment in what works.

Improving Access to Emergency Psychiatric Care Act (S. 599) – Sponsored by Sen. Benjamin Cardin (D-MD), this bill was passed by Congress and signed into law by the president on Dec. 11. It extends and expands through Dec. 31, 2019, the Medicaid emergency psychiatric demonstration project, which was first introduced as a pilot program in the Patient Protection and Affordable Care Act of 2010. The program provides states with federal Medicaid matching funds to reimburse private psychiatric hospitals for emergency inpatient psychiatric care provided to Medicaid recipients aged 21 to 64 who are experiencing a psychiatric emergency. The funding is designed to test whether partially eliminating the prohibition against payments to institutions for mental diseases for Medicaid recipients improves psychiatric care and lowers state Medicaid program costs.

National Defense Authorization Act for Fiscal Year 2016 (H.R. 1735) – Sponsored by Rep. Mac Thornberry (R-TX), the near 1,000-page bill was intended to direct funding for procurement, research and operation of defense technology; establish military policy; and address other matters pertaining to national defense, including $371 million for the research and development of 81 Stryker vehicles with an upgraded weapon system. As proposed amendments to the bill, Sen. John McCain (R-AZ) included a provision to prohibit the Department of Defense from spending taxpayer dollars to honor American soldiers at sporting events, and Sen. Jeanne Shaheen (D-NH) proposed to extend veterans’ benefits to same-sex married couples. The bill was vetoed by the president on Oct. 22, one of the seven vetoes this administration has invoked since taking office in 2008.

Microbead-Free Waters Act of 2015 (H.R. 1321) – Sponsored by Rep. Frank Pallone (D-NJ), this bill will amend the Federal Food, Drug and Cosmetic Act to ban cosmetics that contain synthetic plastic microbeads starting on Jan. 1, 2018. Microbeads are tiny particles of plastic have been added to many personal care products sold around the world. Barely visible to the naked eye, they flow straight from the bathroom drain to the sewer system, which is not designed to filter out microbeads, and ultimately end up in the world’s oceans. There they are eaten by sea creatures and possibly re-consumed by humans. Microbeads are not biodegradable and impossible to remove once they enter the marine environment. Cosmetic brands that have pledged to or already stopped using solid microplastic ingredients include Avon, L’Oréal and The Body Shop. This bill was passed by Congress on Dec. 18 and is currently awaiting signature by the president.

› Read More
Share: [addtoany]
Balancing the Budget, Closing Borders and Exploring Air Space

Congress at Work: Balancing the Budget, Closing Borders and Exploring Air Space

December 2015 - Posted in Congress at Work

Bipartisan Budget Act of 2015 (H.R. 1314) – After three unsuccessful attempts, this bill was finally passed and signed into law on Nov. 2. The budget bill raises the government’s debt ceiling to allow for higher government spending levels and avoid a government default. Among its provisions, there is a new clause that allows the Federal Communications Commission to regulate the number and duration of robocalls made to cell phones for the purpose of collecting debt that is owed to the government.

Surface Transportation Extension Act of 2015, Part II (H.R. 3996) – This bill is designed to provide an extension of Federal-aid highway, highway safety, motor carrier safety, transit, and other programs funded out of the Highway Trust Fund. The bill was passed by both chambers in identical form and signed into law by the president on Nov. 20.

DHS Social Media Improvement Act of 2015 (H.R.623) – This bill, sponsored by Rep. Susan Brooks (R-IN), amends the Homeland Security Act of 2002 to establish within the Department of Homeland Security a social media working group. This group will use social media technologies to provide guidance and best practices for emergency preparedness and community response before, during and after a natural disaster, act of terrorism or other man-made disaster. The bill was enacted after being signed by the president on Nov. 5

Superstorm Sandy Relief and Disaster Loan Program Improvement Act of 2015 (H.R. 208) – The Small Business Administration experienced problems and delays in the operation of the Disaster Loan Program after Superstorm Sandy, largely due to the unexpectedly high volume of loan applications that it received early on. This bill calls for a plan to ensure that sufficient human and technological resources are made available to prevent delays in loan processing in the future. The bill, sponsored by Rep. Nydia Velázquez (D-NY), was passed by Congress on Nov. 16 and is currently with the president.

Illegal, Unreported and Unregulated Fishing Enforcement Act of 2015 (H.R. 774) – This bill was introduced by Madeleine Bordallo (D), Delegate for Guam At Large. Passed in both Houses and signed into law on Nov. 5, its objective is to strengthen enforcement mechanisms to stop illegal, unreported and unregulated fishing.

Protecting Our Infants Act of 2015 (S.799) – Written by its sponsor, Sen. Mitch McConnell (R-KY), this bill is designed to address the problems associated with prenatal opioid use. It directs the Department of Health and Human Services to conduct a study and develop recommendations for preventing and treating prenatal opioid use disorders, including the effects of those disorders on infants. The bill was passed by Congress on Nov. 16 and is awaiting the president’s signature.

U.S. Commercial Space Launch Competitiveness Act (H.R. 2262) – This bill is designed to facilitate a pro-growth environment for the developing commercial space industry by encouraging private sector investment and creating more stable and predictable regulatory conditions. Introduced by Rep. Kevin McCarthy (R-CA) in May of 2015, this bill was passed by Congress on Nov. 16 and it awaiting the president’s signature.

American Security Against Foreign Enemies SAFE Act of 2015 (H.R. 4038) – This bill would expand background checks on Iraqi and Syrian refugees seeking to enter the United States. Just two days after it was introduced by Rep. Michael McCaul (R-TX) on Nov. 19, it passed the House by a vote of 289-137, with almost all Republicans and 47 Democrats voting in favor. While it is currently under consideration in the Senate, the president has indicated that he would veto the bill if it also passes the Senate.

› Read More
Share: [addtoany]
  • Recent Post »
  • « Older Post

Categories

  • Congress at Work
  • Life Events Library

Archives

  • January 2018
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • Home
  • Accounting Services
  • Tax Services
  • Resources
  • Our Team
  • Contact Us

BERKELEY OFFICE
2855 TELEGRAPH AVE., SUITE 300
BERKELEY, CA 94705

TEL: (510) 548-1962
FAX: (510) 315-3168
Email: Info@TaxFinancialPros.com

RECEIVE THE LATEST NEWS ON SMALL BUSINESS ACCOUNTING BY SIGNING UP FOR OUR NEWSLETTER

Copyright © 2025 Chang. All Rights Reserved Berkeley web design by KO