Thanks to the support of FEI members who utilized our new FEI Grassroots system to contact their elected officials, the House Ways and Means Committee approved six separate bills to make permanent certain expired business tax provisions, including the research and development credit, CFC look-thru treatment, and the subpart F exceptions for active financing income.
These six bills were introduced with bipartisan Ways and Means support.
Majority Leader Eric Cantor (R-VA) has said that the House of Representatives will vote in May on a permanent research and development tax credit bill and in the months ahead on other tax extender bills.
In the Senate, Majority Leader Harry Reid (D-NV) has said a floor vote is possible in May on an $85 billion tax extender bill (S. 2260) approved by the Finance Committee to extend more than 50 expired and expiring business and individual tax provisions through the end of 2015. In addition to the research credit, CFC look-thru and active financing, this includes 50-percent "bonus" depreciation.
For those that did not have an opportunity to participate in our most recent legislative campaign, please watch your inboxes for future opportunities, or monitor the FEI Grassroots system by clicking here.
If you have any suggestions on issues that are important to your company that might benefit from a grassroots campaign to better educate our elected leaders on Capitol Hill, please contact our Government Affairs Office.