Washington
Times (DC) December 12, 2018
House Ways and
Means Committee Chairman Kevin Brady on Monday released a revised end-of-year
tax package that includes tax relief for victims of recent natural disasters,
delays or repeals several Obamacare-related taxes, and jettisons the extensions
of many expired breaks that had been included in an earlier bill.
The bill also
includes provisions that mirror parts of earlier legislation and are intended
to reform the IRS, boost retirement savings, and make technical corrections to
last year's $1.5 trillion tax law.
"It's
irresponsible to wait until next year to deliver crucial tax relief for
families in 14 states and territories struggling to recover from devastating
wildfires, hurricanes, flooding, and other storms," Mr. Brady said in a
statement. "Both parties need to come together to help these communities
now."
Mr. Brady had
rolled out an end-of-year tax package several weeks ago that had included a
number of extensions for popular but expired tax breaks but now says those
provisions, known as extenders, will have to move separately.
House GOP leaders
had eyed a potential floor vote on the original package late last month, but it
was ultimately shelved amid concerns about its cost and some of the provisions,
like the extension of a higher excise tax on coal.
There have also
been attendance issues on recent House votes, as retiring and defeated members
eye the exits.
The new bill would
cost about $80 billion, up from the approximately $55 billion price tag for the
original one.
The new package
adds in several provisions designed to win GOP support, including a delay or
repeal of several Obamacare-related taxes. Those include a five-year delay of
the medical device tax, a two-year delay of a health insurance tax, a one-year
delay of a "Cadillac" tax on high-cost plans, and the repeal of a
tanning tax.
It also repeals the
Johnson amendment, which places restrictions on the political activity of
non-profit groups like churches, and allows people to set up 529 education
savings accounts for unborn children — provisions likely to be opposed by many
Democrats.
While the changes
might boost the prospects of getting a package through the GOP-controlled
House, it still faces an uphill climb in the Senate, where it will need some
Democratic support to overcome a potential filibuster.
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