Jorge Castro Quoted on Possible Next Steps for Tax Extenders in Tax Notes
Subtitle
"Lengthy Tax Extender Wish List Awaits Lame-Duck Session"
Tax Notes
Jorge Castro, former Congressional tax counsel, commented on the outlook for the tax extenders package in a lame-duck legislative session. The next steps for these extenders may hinge on whether Congress passes a longer-term omnibus spending bill in September or delays action until the end of year, which would affect the potential for a tax package. Castro suggests that extracting popular provisions could be a strategy. He noted, "Maybe we can extract certain pieces that are more popular, that we think are low-hanging fruit, and we can package it together come December." The outcome of the upcoming elections will further influence how and when a potential December tax package might be addressed.