John Sandusky of Tax Incentive Group, LLC just brought this to my attention.
Congressman Pat Tiberi (R-OH), Chairman of the Subcommittee on Select Revenue Measures has announced a new hearing to consider HOW Congress should evaluate individual tax extender programs. Surprise! The hearing is today at 9:30 AM.
See the Committee’s press release here.
Congressman Tiberi explained,
“As part of the Ways and Means Committee’s ongoing effort to review dozens of tax provisions that either expired last year or expire this year, we need to consider carefully the principles that we should use to evaluate the merits of these policies. Having recently heard from our House colleagues about their views on many of these extenders, it is time for the Subcommittee Members to roll up their sleeves and see how the provisions stack up against what experts consider the principles of sound tax policy.”
Also from the press release:
“The hearing will explore (a) ideas on the framework that Congress should use to evaluate tax extenders, (b) the principles of good tax policy that Congress should apply during this evaluation, and (c) the specific metrics against which Congress should test the merits of particular provisions. While the hearing is not intended to focus on specific tax extenders, individual provisions may be discussed for the purpose of illustrating how to use such principles and metrics.”
In other words, the subcommittee is going to explore exactly WHAT is important to Congress and HOW Congress should evaluate individual programs against that standard.
If the subcommittee is successful, it will offer us a clear directive on how to best defend an extension of the Work Opportunity Tax Credit. Alternatively, the results could define Congress’ priorities in a way that works against renewal of WOTC altogether.
Submit Your Own Statement:
The committee invites interested parties to submit a written statement for consideration by the committee. Properly submitted statements will also be included in the printed record of the hearing. Instructions and links to forms you will need to complete are included in the press release.