Finance, investment and tax-related legislation

Here are the latest developments, updated throughout the day.

The Senate tax-writing committee plans to start hammering out the details of its tax cut proposal on Monday. The House may vote on its bill as soon as Thursday. Here are the latest developments, updated throughout the day.

The Senate Republican tax proposal unveiled Thursday would cost $516 billion over a decade after assuming macroeconomic benefits as a result of the tax cuts, according to a new analysis Friday by the Tax Foundation, a right-of-center Washington think tank.

Tax breaks cherished by both the fossil fuel and renewable energy industries emerged unscathed in a tax plan unveiled in the U.S. Senate, according to details of the bill released Thursday evening by the chamber’s main tax writing committee.

The Senate version of the Republican tax bill would tax wealthy private college endowments at 1.4 percent of net investment income, the same levy as the House proposal introduced last week.

The Senate tax bill that’s due to be released Thursday won’t include an excise tax on certain payments U.S. multinationals make to overseas affiliates, according to a person familiar with the legislation.

The Tax Cuts and Jobs Act makes major changes to individual income taxation.

The chairman’s mark-up of the act is only the start of the wrangling.

Outgoing Internal Revenue Service Commissioner John Koskinen foresees problems with tax reform if major provisions apply to the current tax year and predicted the agency would need more funding from Congress to implement the legislation if it passes.

The document consolidates the 429 page proposed plan into an easy to read highlights reel.