Director of Federal Tax Policy
The House Ways and Means Committee is expected to begin considering a proposal tomorrow to make permanent a group of heavily lobbied corporate “tax extenders” — known as “extenders” because Congress routinely extends them only a year or two at a time. The proposal, however, wouldn’t offset the costs of making these provisions permanent by, for instance, scaling back or eliminating any of the other tax breaks or subsidies that litter the tax code.
This would be a wrong move for several reasons.
All told, then, the Ways and Means proposal would impose a fiscal double standard that favors the tax extenders over other budget priorities; create a tax double standard that favors the extenders over EITC and CTC improvements that help millions of working people; and significantly erode “fiscal cliff” deficit savings that policymakers worked so hard to secure. That’s simply the wrong way to go.