Today, the leading Republican on the House Ways and Means Committee Kevin Brady (R-TX) and Senate Finance Committee Chairman Chuck Grassley (R-IA) released the following statement after it was reported that Ways and Means Chairman Richard E. Neal (D-MA) proposed a tax extender package that contains numerous unrelated provisions to raise taxes that would hurt the American economy and kill American jobs:
“If press reports are true, this proposal is a non-starter. Raising taxes on American families and businesses would throw a wrench in this historically strong economy and destroy an untold number of jobs across the country. We hope that House Democrats instead choose to work with us to end business-as-usual as it concerns these temporary tax provisions and not use these provisions as leverage in unrelated tax policy disagreements. It’s simply not fair to the millions of American taxpayers who have waited long enough for Congress to address expired and expiring tax policies.”
According to Bloomberg Tax:
“Extending expired tax perks for up to three years is an option Ways and Means Democrats mulled during a June 11 meeting, according to people familiar with the discussions.
“Tax breaks that expired at the end of 2017 and 2018, as well as those expiring at the end of this year would be extended through Dec. 31, 2020, according to an aide. Breaks that expired at the end of 2017 include a credit for biodiesel and a credit for short-line railroad track maintenance.”