I’m sorry, I should have posted this sooner.
The Bipartisan Budget Agreement of 2015 as worked out by Speaker Boehner and other leaders this week does not include WOTC or other tax extenders. The extenders will likely become a priority for the new Speaker in coming days. They most certainly ARE a priority for tens of thousands of businesses and tax payers, all of whom have their eyes on Congress this week. (more…)
This year has passed too quickly. It’s already September 10th!
Only yesterday it was 4th quarter 2012 and we were perplexed about how Congress would handle (or fail to handle) the many expired tax extenders. For patrons of the WOTC program, the time to sweat has come again. (more…)
Speaker of the US House of Representatives, John Boehner (R-Ohio) has recently repeated his vow to make comprehensive tax reform a top priority of the new Congress this year. Symbolic of that end, Speaker Boehner has reserved the designation of House Resolution 1 (HR 1) for the coming tax reform bill. (more…)
If you’ve been listening to talk radio or the news this morning, you will have already heard House Speaker John Boehner’s talking about the House’s “Plan B” tax bill. The White House has already rejected the Plan B proposal and it is expected to also die in the Senate. Nevertheless, the bill is important because it will outline what is important to House Republicans and will potentially set a baseline for supporting tax extenders in subsequent bills. (more…)
As the tax and spend negotiations continue, President Obama’s most recent offer on Monday included an extension of the Work Opportunity Tax Credit program and other tax extenders. This has been consistent while the public focus of the negotiations has been on areas of deeper disagreement. Already this morning, the White House rejected House Speaker Boehner’s counter offer. (more…)
President Obama’s TV interviews scheduled for today may provide fuel for a potential breakthrough in tax and spending talks, according to Paul Suplizio, President of the WOTC Coalition. WOTC and numerous other tax provisions hang in the balance . . . although failure now may still be rectified after the new year. (more…)
A precarious moment has arrived for extending the Work Opportunity Tax Credit (WOTC) and other tax extenders. Republican leadership has expressed their general opposition to the $200 billion in “stimulus” included in President Obama’s budgetary demands. The Republican leadership has not specifically mentioned the $40 billion in tax extenders BUT the extenders (including WOTC) are part of the larger $200 billion stimulus package. (more…)
The elections are over and many otherwise interested Americans have turned (at least one eye) temporarily away from politics. I understand the sentiment. Forcing yourself to follow Congress right now is like dragging one of those civil-war era canon balls with a chain around your ankle.
Nevertheless, important issues are being addressed, including the Work Opportunity Tax Credit and numerous other tax extenders. (more…)
Paul Suplizio of the WOTC Coalition gave an analysis this morning of the current situation in Congress as it relates to renewal of WOTC and other tax extenders. While there is little chance of of immediate passage, there are important political milestones to be laid at this time. (more…)
I thought you might appreciate the following excerpt from a recent email update I received from WOTC Coalition President Paul Suplizio. Some of this has been reported in the news but Paul’s perspective adds something important. I am re-publishing this with his permission.
In a statement [Monday], Speaker John Boehner and Majority Leader Eric Cantor said they will no longer require offsets for the $100 billion cost to extend the payroll tax cut to the end of the year, and are preparing a bill that will extend the payroll tax cut separately if the conference reaches no agreement, leaving the conference to continue working on unemployment insurance and Medicare doctors’ payments.
The conference committee is being notified of this new Republican position, which means $100 billion of the total $160 billion cost of the payroll bill would not have to be offset.
The conferees still have time to reach agreement on a total package, but if they don’t the Speaker is free to make the effort to pass a stand-alone bill extending the payroll tax only. This would remove payroll tax as a partisan issue, but the Speaker is likely to need Democratic support because of the roughly ninety Republicans who would not vote to increase the deficit.
Senator Reid is expected to make the extenders part of the bill he has said he will introduce if the conference bogs down. He will have the option to bring it to a vote or attach it to any stand-alone payroll bill that passes the House.
Unemployment compensation and doc fix remain “must do” issues, even if payroll tax is passed separately—thus we continue to work for the tax extenders to be added to HR 3630 in conference.
If $40 billion for tax extenders is added, the total requiring offset would be $100 billion for unemployment insurance, doctors’ fix, and the tax extenders. Democrats are arguing unemployment insurance should not be offset, and a good case can be made for not offsetting the tax extenders.
Comments: The Republican leadership’s concession on not requiring a budget offset to the “cost” of the payroll-tax-cut extension reduces the total amount of offsets needed to pass all of the priority items. One of those priority items is the tax extenders, which will presumably include WOTC.
What this boils down to is that we are likely to at least see legislation soon with tax extenders attached. Whether Congress can pass it, of course, is a separate question. Nothing is certain and the political environment remains volatile.