Senate Finance Committee To Take Up Tax Extenders Bill

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***LEGISLATIVE ALERT***

Senate Finance Committee To Take Up Tax Extenders Bill

WASHINGTON– This Thursday, the U.S. Senate Committee on Finance will markup a tax bill, entitled the Expiring Provisions Improvement Reform and Efficiency Act.

The bill addresses tax provisions that either expired at the end of 2013 or will expire at the end of 2014.

Tax provisions contained in the bill can help attract businesses to the Navajo Nation and are: (1) the Indian employment tax credit; (2) the accelerated depreciation for business property on an Indian reservation; (3) the Indian coal production tax credit; and (4) the new markets tax credit. If passed, the bill would extend all of the tax credits for two years, through Dec. 31, 2015.

In recent years, Congress has extended the temporary tax provisions either just before they expired at the end of the year, or would pass a bill to retroactively extend them early the following year.

An important provision for Indian country, the general welfare exclusion for tribal programs is not contained in the bill.

For more information contact Navajo Nation Washington Office government and legislative affairs associate Carolyn Drouin at cdrouin@nnwo.org or at 202-682-7390.

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