House Ways and Means announced its markup of tax legislation, which includes credit expansions for lower-income workers and families with kids
Rep. Richard Neal, D-Mass., talks with reporters as he walks down the stairs after the last vote before the Memorial Day recess at the Capitol in Washington on May 23, 2019. Neal has long complained about the quick passage of the 2017 tax overhaul, which led to “technical” errors in the bill. He has proposed new fixes along with tax credits and renewals in new tax legislation. (Caroline Brehman/CQ Roll Call)
Legislation that would beef up the refundable portions of the Earned Income Tax Credit and Child Tax Credit for 2018 and 2019 also includes a repeal of the so-called ″church parking tax,″ that left some nonprofits paying taxes on transportation-related fringe benefits for their employees as part of a change made by the 2017 tax overhaul. Those and other changes in the bill would cost a total of $102.5 billion over a decade, according to the Joint Committee on Taxation, with no offsetting revenue increases or spending cuts.
The panel will take up four separate pieces of legislation Thursday, including the tax extenders measure, which also would provide tax benefits for victims of natural disasters that occurred in 2018 and this year. Two other bills on tap would extend some retroactive tax benefits to same-sex married couples and add $1 billion in each of the next two fiscal years for child care funding under the Temporary Assistance for Needy Families program.