First in series of hearings on tax reform

Published in the May 2018 issue of Washington Update

House Ways and Means Committee Chairman Kevin Brady (R-TX) and Tax Policy Subcommittee Chairman Vern Buchanan (R-FL) have indicated they will hold a series of hearings on how the new tax law is working.

The first hearing will focus on the positive economic developments since the Tax Cuts and Jobs Act was enacted last year.

The House leadership is also considering the possibility of another tax reform bill this year. If they were to proceed with new legislation, it would propose to make last year’s individual tax cuts permanent, as they are currently set to expire in 2026 (the corporate rate cuts are permanent). New legislation likely would also include a proposal to extend full expensing for businesses, as the current law only allows full expensing of new and used capital investments for the next five years.

Learn more about NTEA member benefits at ntea.com/memberbenefits.