- Senator Wyden Renews Push for Tax Extenders
- September 25, 2014
- Law Firm: Sutherland Asbill Brennan LLP - Washington Office
The Congressional tax agenda for the end of 2014 is now clear: tax extenders and inversions. Even as inversions dominate the news, Senate Finance Committee Chairman Ron Wyden (D-Ore.) is continuing his push to pass legislation which extends expired tax provisions. On September 15, Senator Wyden issued a statement on the need to renew expired tax provisions, stating that the actions are needed to provide certainty and relief to American workers and businesses. Specifically, Sen. Wyden said that Congress’s failure to renew expired tax provisions is forcing American companies that are making their quarterly tax payments to make “no interest loans” to the government through higher taxes.
Sen. Wyden addressed, generally, a few provisions in his statement. These include the expensing limits under Section 179 and the renewable energy incentives, such as the wind production tax credit, as provisions that need to be renewed. Sen. Wyden called upon Congress to revive the EXPIRE Act that the Senate Finance Committee produced this spring.