The House Ways and Means Committee is holding a hearing to make every tax extender stand up and justify its existence.
While the Senate finds certain temporary tax credits useful for incentivizing behavior throughout the tax code- like marriage, adoption, child tax credits, alternative energy; they also see it as a way to create marketplaces for American game-changing technologies and worthwhile industries, until using or doing these things becomes a habit and then a tax credit is no longer necessary.
In recent years the House has developed quite the distaste for these job creators in specialized sectors. Incentives are a partial government subsidy. It doesn’t directly fund these programs, but rather it is a shared pain/shared gain approach to helping a new industry thrive or an older one survive.
After passing a one-year extension of tax incentives in the February continuing resolution, the House is now holding a hearing on March 14 and asking supporters of each provision in the extenders to come forward and defend themselves.
If you care about any of these items, you can have a direct impact on the future of these extenders. Write and call your members on the House Ways and Means Committee to support any or all provisions.
If you are a manufacturer, supplier, shipper or user of any of these technologies or provisions– even if you think it’s just a good idea, make yourself heard to your Congressmen. It makes a difference.
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