Congressional Tax Committees Plan to Take Up Expired Tax Breaks
July 9, 2015
The Senate and House committees that write tax laws seem to be ready to take up the string of so-called tax extenders — the tax incentives that include Section 179D — that have yet to be renewed for 2015.
House Ways and Means Committee Chairman Paul Ryan (R-Wis.) said he wants his committee to take the provisions up in September, when Congress returns from its August recess, Bernie Becker of The Hill reports.
Ryan doesn’t want a repeat of 2014’s last-minute renewal. “The last thing we want to do is have another Dec. 11 experience, where people don’t know what their taxes look like until Dec. 11 and then they’re adjusted retroactively for a year,” Becker reports Ryan saying. “That is not good for the economy.”
Becker adds that sources say the Senate Finance Committee may take the extenders up even sooner — as early as next week.