Republicans introduce new version of end-of-year tax bill with an eye toward speedy passage
by Colin Wilhelm
| December 10, 2018 03:27 PM
House Republicans have gone back to the drawing board on end-of-year tax legislation.
On Monday morning they introduced new legislative text to reform retirement savings, delay Obamacare-related taxes, and provide technical corrections to the tax overhaul law they passed last year.
If enacted, the bill would also provide tax benefits for communities that have suffered through natural disasters, including last month’s wildfires in California.
Much of the legislation, tucked into a separate but unrelated bill to clear its potential path to becoming law, resembles a similar bill introduced by House Ways and Means Committee Chairman Kevin Brady R-Texas, two weeks ago. But gone are extensions of tax benefits for various industries, ranging from horse racing to NASCAR to clean energy, as well as text that would call for reform to the Internal Revenue Service.
Senate Democrats balked at the tax bill when it was introduced last month. Republicans need several Democrats to support the bill in order to meet the 60 vote threshold to advance legislation and avoid a filibuster in the Senate.
https://www.washingtonexaminer.com/policy/economy/republicans-introduce-new-version-of-end-of-year-tax-bill-with-an-eye-toward-speedy-passage
