Concord Policy Primer – 179D Extension in Senate Budget Deal
February 8, 2018
Concord is pleased to report the following breaking developments from D.C.:
One Year Extension
Today, congressional leaders announced a broad deal to extend government funding through March 23. The package is still being negotiated and likely to be released tomorrow. Although we haven’t seen the language, we understand Congress will provide a retroactive, one-year extension (1/1/17 – 12/31/17) of expired tax breaks.
Our sources are telling us that this language includes an extension of the Section 179D deduction, retroactively covering tax year 2017.
From a process standpoint, if all goes to plan, the Senate will pass the package tomorrow, followed by the House – we expect the legislation will be signed into law at some point tomorrow (2/8).
We will have more information in the coming days as it becomes available. In the meantime, for immediate assistance, please either reply to this email, or call us any time at 888-897-5445.