Both Sides of the Aisle Agree That Extensions Should Pass
Key players on both the Democratic and Republican side of the discussion to pass a significant tax extenders package are speaking out in favor of just that, following the House Ways and Means Committee meeting.
Chairman Mike Thompson (D-CA) stated that the tax extending provisions in discussion require additional scrutiny, and that lawmakers should work as quickly as possible to come to an agreement to pass the extenders. Republican lawmakers are also weighing in, with Committee Ranking Member Kevin Brady (R-TX) saying that he is working on the package in order to make some of the temporary provisions permanent, and phase out and omit other ones.
The House Ways and Means Committee met on Tuesday, March 12th, to continue the discussion on the package. While no decision has been made yet, having overall bipartisan agreement that the extenders should pass is encouraging news to tax firms and taxpayers alike.
The tax extender package would have a significant impact on all taxpayers, especially those that can take advantage of the 179D Energy Efficient Tax Deduction, and the 45L Energy Efficient Home Credit.
We have been your trusted advisors on the decision of these tax extensions, and will continue to keep our readers updated and informed.