01/11/2018

Republicans Pushing Tax Extenders Bill

They hope to take it up later this year after failing to do so in 2017

Congressional Republicans are working to combine a number of tax provisions into one tax extenders bill that Congress could take up later this year.

To date, Republicans on different sides of the Capitol have focused on different priorities, with Senate Finance Republicans seeking to extend several expired tax provisions that won’t be available for 2017 tax filings unless they are renewed. These include tax breaks for mortgage insurance premiums and credits for renewable energy property.

“Not everybody is going to have the same interest in the same extenders,” Sen. John Thune (R-SD), who sits on the Senate Finance Committee, told Bloomberg BNA. “But there’s enough interest among a lot of people in some extenders to create, I think, the necessary momentum to get something done.”

House Ways and Means Committee Chairman Kevin Brady (R-TX) told reporters this week he would like to find common ground on delaying or repealing the medical device tax and the “Cadillac tax” on high-cost health plans that was enacted as part of the Affordable Care Act (ACA).

Democrats might be open to some sort of tax extenders bill as well, especially if it included renewing clean energy provisions, according to Sen. Mark Warner (D-VA).

This article was provided to OSAE by the Power of A and ASAE's Inroads.