Negotiations behind the scenes continue as leaders in both the Senate and House work on a number of bills to address--to varying degrees--the tax extenders, including several business provisions such as Section 179 expensing and the research tax credit. On May 13, the Senate attempted to consider the extenders package, however, the measure was stalled because Senate Majority Leader Harry Reid (D-Nev.) and Republicans were locked in a dispute over whether they would be able to offer amendments to the legislation. Since Reid invoked a procedural move restricting senators from offering amendments on the floor, the minority in turn blocked the procedural motion by a vote of 53-40 that would have allowed the bill to move forward—60 votes were required for passage. Meanwhile, on the House side, the Ways and Means Committee approved six additional bills to make several temporary tax credits permanent on May 29. The committee has now advanced 12 bills making tax extenders permanent, in contrast to the single package put forward by the Senate.
Tag Archive: Chairman Dave Camp
The House and Senate tax writing heads, Rep. Dave Camp (R-Mich.) and Sen. Max Baucus (D-Mont.) have been busy with Camp suggesting a potential delay into 2014 for his reform proposal and Baucus releasing a discussion draft on international tax reform.
On Wednesday, the House Committee on Small Business held a hearing on small-business tax reform which featured Ways and Means Committee Chairman Dave Camp (R-Mich.) as a key witness discussing his Committee's efforts to address ever-growing complexity.
Yesterday, House Ways and Means Chairman Dave Camp (R-Mich.) introduced a bill that would extend the 2001 and 2003 tax cuts for an additional year as part of his three-step approach to pass and enact comprehensive tax reform in 2013.