Tax News & Views - July 9, 2012
Vol. 13, No. 26
Tax Policy Group, Deloitte Tax LLP
- July legislative outlook indicates lots of movement, but little progress, on tax issues – As Congress returns to Washington this week following the Independence Day recess, House Republican leaders plan to renew efforts to repeal the Patient Protection and Affordable Care Act (PPACA) in the wake of the U.S. Supreme Court’s recent decision to uphold the law, while Senate Democrats attempt to move a long-stalled package of small business tax incentives. In the few short weeks remaining before the extended summer break, lawmakers also are likely to continue staking out their positions on the Bush tax cuts, tax reform, and the extension of expired and expiring tax provisions. But the prospects for resolution on any of the key tax issues on the congressional punch list remain dim until the post-election lame duck session at the earliest.
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