11/21/2019

Brady Says Year-end Tax Bill Possible

There is a decent chance Congress can pass a tax bill in 2019

This week, Rep. Kevin Brady (R-TX), ranking member of the House Ways and Means Committee, told POLITICO this week there is a decent chance that Congress can pass a year-end tax bill if Democrats are willing to keep the package “relatively tight.”

“As long as the whole galaxy is being considered for the extenders package, not much will get done,” Brady said.

Brady added that a tax bill that renewed some extenders and perhaps included some tax corrections to the 2017 tax law sounded reasonable.

OSAE, ASAE and the UBIT Coalition have urged House and Senate leaders to include repeal of the 21-percent tax on parking and transportation benefits that tax-exempt organizations provide to employees in any year-end legislation. Repealing the nonprofit benefits tax, which was enacted as part of the 2017 Tax Cuts and Jobs Act (TCJA), has been ASAE’s top legislative priority this year. The tax is proving to be a huge burden for associations and other nonprofit groups, including churches and small charities that have little or no experience dealing with the IRS and insufficient guidance on how to calculate the value of parking and other benefits provided to their employees.

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