Marc Gerson Commented on Technical Corrections in Bloomberg BNA Daily Tax Report
Subtitle
"Technical Fixes on Omnibus Open Door to Extenders: Brady"
Bloomberg BNA Daily Tax Report
Marc Gerson commented on the legislative options for a tax technical corrections bill before the end of 2016. House Ways and Means Committee Chairman Kevin Brady said he is not in favor of tax corrections being included in the year-end omnibus bill, as it opens the door to temporary tax provisions or "extenders," and he would prefer to save momentum for the comprehensive tax reform legislation he expects the House to vote on next year. Assuming no time-sensitive components are pending, the process generally achieves a “critical mass” of technical corrections before the bill gets finalized, Gerson said. Chairman Brady is in the best position to judge whether there are any time-sensitive provisions or enough provisions to move a technical corrections package forward, he added.