Democrats’ Tax Credit and Extender Package: BGOV Closer Look

June 21, 2019, 3:24 PM

House Democrats are advancing their first substantial tax package since taking control of the House.

At a June 20 markup, the Ways and Means Committee approved bills to aid lower-income workers, repeal an unpopular provision in the 2017 tax overhaul, renew expired tax breaks, and provide relief to disaster victims.

The measures omit a corporate income tax rate increase Democrats have considered, Kaustuv Basu reported. The 2017 tax law (Public Law 115-97) set the rate at 21%.

The package’s price tag tops $100 billion, but Ways and Means Chairman Richard Neal (D-Mass.) said he’s committed to finding ...

To read the full article log in.

Learn more about a Bloomberg Tax subscription.