Senate Finance Committee Chairman Orrin Hatch (R-Utah) and Ranking Member Ron Wyden (D-Ore.) today announced the Committee will markup a tax extenders bill, entitled “An Original Bill to Extend Certain Expired Tax Provisions”.
The markup of the bill will take place on Tuesday, July 21, in Room 215 of the Dirksen Senate Office Building at 11:00 a.m.
“This markup will give the Committee a timely opportunity to act on extending a number of expired provisions in the tax code that help families, individuals and small businesses,” Hatch said. “This is the first time in 20 years where a new Congress has started with extenders legislation having already expired, and given that these provisions are meant to be incentives, we need to advance a package as soon as possible. This package is a result of strong bipartisan work, and I look forward to working with the full Committee to ensure members are able to work their will and examine these provisions carefully.”
“The tax code should work for, not against, Americans,” Wyden said. “We need to extend these tax provisions now in order to provide greater certainty and predictability for middle-class families and businesses alike. However, as we look beyond next week, it’s critical we all recognize and take action to end this stop and go approach to tax policy through extenders.”
The bipartisan tax extenders package includes provisions to assist hardworking families, individuals and small businesses, and incentivize innovative research and development among others.
The Chairman’s Mark of the tax extenders bill can be found here. A revenue table for the tax extenders bill can be found here. A summary can be found here.