The House Ways and Means Committee is expected to mark up a second package of tax extenders, legislation that would revive expired tax breaks, this week. Committee Chairman Dave Camp (R-Mich.) said he intends to bundle a few bills for consideration. The committee already passed a package of five extenders. It is not clear what the second package of extenders will contain.
Meanwhile, the Senate stalemate on a broad package of tax extenders, including bonus depreciation, remains stalled over potential amendments to the underlying bill, the EXPIRE Act. Sen. Majority Leader Harry Reid (D-Nev.) has said he is willing to consider amendments to the $85 billion Senate package, but they should be germane to the tax extenders themselves. Senate Republicans want to offer amendments that Reid and other Democrats don’t consider related to the extenders, such as a repeal of the medical device tax in the Affordable Care Act.
Reid accuses Republican of obstructing passage of tax breaks that would benefit American families and businesses. Republicans contend that the impasse could be easily broken if Reid would allow an open amendment process.
NSSGA will continue to closely follow action on the tax extenders legislation and keep members advised of developments.