Top Senate Tax Writers Release First Round of Bipartisan Reports Examining Tax Extenders
The Senate’s top tax writers have released the first round of bipartisan task force reports examining over 40 expired and soon-to-be-expired tax breaks known as tax extenders. Congress is expected to address these particular tax breaks, as well as temporary tax policy in general, shortly.
Tax Extenders Task Forces
Senate Finance Committee (SFC) Chairman Chuck Grassley, R-Iowa, and Ranking Member Ron Wyden, D-Ore., released three of six reports detailing the work of bipartisan task forces that were created to examine certain tax breaks, which expired or will expire between December 31, 2017 and December 31, 2019. The three remaining tax extenders task force reports are expected to be released soon.
The reports released by Grassley and Wyden were from the following task forces:
- Energy
- Cost Recovery
- Individual, Excise and Other Temporary Tax Policy
Next Steps
Wyden also highlighted the importance of moving away from the notion of temporary tax provisions in general, which Democrats and Republicans alike largely agree is not good tax policy.
Grassley and Wyden introduced their bipartisan tax extenders bill earlier this year. However, Grassley reiterated that movement of all tax legislation must be initiated in the House. House Ways and Means Committee Chairman Richard Neal, D-Mass., has also introduced his own tax extenders proposal.
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