Grassley, Wyden Form Task Forces for Expired, Expiring Tax Provisions
Senate Finance Committee Chairman Chuck Grassley, R-Iowa, and Ranking Member Ron Wyden, D-Ore., today formed five task forces to examine expired and expiring tax extenders. The task forces will cover workforce and community development, health taxes, energy, business cost recovery and individual excise taxes and other temporary policies. There will be a sixth task force for related issues of temporary disaster tax relief. The new markets tax credit is set to expire after the 2019 round of allocations and the renewable energy investment tax credit and production tax credit are in phasedowns, while the Section 45L credit for energy efficient homes and the Section 179D energy-efficient commercial buildings deduction both expired at the end of 2017. Grassley and Wyden in February introduced legislation to extend 29 expired provisions.