Yesterday, the House Ways and Means Committee held a markup of six bipartisan bills that would make several business extenders permanent, including the Research & Experimentation tax credit and Section 179 Business Expensing.
The tax writing Chairmen in both the House and Senate, Rep. Dave Camp (R-Mich.) and Sen. Ron Wyden (D-Ore.), respectively, have recently placed priority on dealing with the tax extenders in their committees.
Today, House Ways and Means Committee Chairman Dave Camp (R-Mich.) is set to release a proposal to overhaul the tax system—a first attempt at rewriting the tax code in nearly 30 years.
