“The extenders has been a huge political and policy issue, with a whole army of lobbyists. Most of that is now resolved.”
Ending the ritual would amount to a sea change in how Congress writes tax policy, not to mention bad news for everyone from racehorse owners to NASCAR, whose favorite provisions were not awarded permanent status in last week’s agreement…
…Tax writers said what they did this year will allow them to focus on better things. The $680 billion tax-cut package will give “breathing room to the cause of bipartisan tax reform,” said Sen. Ron Wyden, the ranking Democrat on the Finance panel.
Interesting given the Senator’s above statement that he voted against the Omnibus.
Look, the lobbyists aren’t going anywhere. So Congress eliminated some tax extenders and made them permanent. Great. But they still inserted CISA into the bill. They still funded the President’s 3rd World Climate Crony “Stimulus” program.
How about Congress gets to work on simplifying the tax code fundamentally instead?
Perhaps this is a step in the right direction. That is possible. But you’ll understand why we are dubious.