House Ways and Means Committee to Hold Markup of Extenders in April

House Ways and Means Chairman Dave Camp (R-Mich.) announced in a Memorandum that the Committee will hold hearings in early April to determine which "extenders" should be made permanent."Extenders" refers to a list of some 60 tax provisions that expired at the end of 2013. These include the production tax credit, the research and development tax credit, special treatment of certain interest-related dividends from regulated investment companies ("RICs"), and the active financing exception to the controlled foreign corporation rules, all of which were passed by Congress with "sunset" dates. In the last several years, Congress has renewed most extenders retroactively for one or two years. Chairman Camp has indicated that short extensions of tax provisions represent poor tax policy. He has supported making some of the benefits permanent, but has remained silent on others. The purpose of the markup is to determine which of the "extenders" should be made permanent parts of overall tax reform and which should be eliminated. Chairman Camp also told members that the Committee will hold hearings on various aspects of his tax reform proposals in the coming weeks and months.

Previously, Senate Finance Chairman Ron Wyden (D-Ore.) announced that he would hold a committee markup of the tax extenders sometime in early April. Wyden has hinted that his initial markup will renew only some of the dozens of tax provisions that expired at the end of 2013, and that amendments to his markup would require an offsetting revenue-raiser to pay for the amendments.

The memorandum from Chairman Camp is linked below.

See:Memorandum to Ways and Means Committee.

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