15 March 2018

Tax Extenders Face Scrutiny at Ways and Means Hearing

Yesterday, the House Ways and Means Subcommittee on Tax Policy held a seven-hour, 4 panel hearing on the fate of tax extenders—temporary tax extenders like those for biofuels or short-line railroads. While they were just extended retroactively for 2017, they have again expired and currently are not available for 2018.

The hearing provided a venue for Republican committee members to criticize several aspects of tax extenders and argue for their permanent expiration. First, they argued that the temporary nature of the provisions severely limits the economic growth they are supposed to generate as businesses need to plan more than a year or two in advance. Second, they argued that if these businesses are profitable and/or these investments generate returns, there is no need for extra tax incentives. Lastly, they argued that the Tax Cuts and Jobs Act provided significant tax benefits to U.S. businesses (including a 43% reduction in the corporate tax rate) and that those benefits should negate any need for special tax treatment. Chairman Buchanan specifically criticized companies for “double dipping.”

All this is to say, that the House Ways and Means Committee would like to eliminate almost all of the tax extenders. Yesterday was their first step in making that argument.

It is important to remember, however, that the Senate has a different view of tax extenders, which is why they were not addressed in the Tax Cuts and Jobs Act. Any efforts by the House to eliminate and/or let tax extenders expire will run into resistance in the Senate.

 

 

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Grant Due: FY 2023-2025 Residential Treatment Center Services for Unaccompanied Children

FY 2023-2025 Residential Treatment Center Services for Unaccompanied Children  

WHAT DOES IT FUND? The purpose of this program is to provide temporary shelter care and other services to unaccompanied children by supporting eligible residential treatment center (RTC) care providers that specialize in the high quality care of children who have psychiatric or psychological issues that cannot be addressed in an outpatient setting and will require heightened behavioral and/or mental health support. Click here for more information.

WHO'S ELIGIBLE? Residential treatment center (RTC) care providers, including: state and local governments, special district governments, independent school districts, private, public, and state-controlled institutions of higher education, Federally recognized Native American tribal governments, public housing authorities/Indian housing authorities, Native American tribal organizations, nonprofit organizations with or without 501(c)(3) status, and for-profit organizations, including small businesses and Faith based and community organizations 

TOTAL FUNDING AMOUNT? $50 million

WHEN'S IT DUE? June 3, 2025

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US Congressional Calendar

9 December 2024

TFG Presents 2025 Congressional Calendar

The Ferguson Group (TFG) compiled a 2025 Congressional Calendar with session and recess dates for the U.S. House of Representatives and U.S. Senate 119th congressional session. 

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