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Administration Pushes for More Middle-Class Breaks in Extenders Talks
From Daily Tax Report
For over 50 years, Bloomberg BNA’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...
Nov. 24 — Administration officials came out in opposition to any legislative effort at renewing dozens of expired tax breaks known as extenders unless the package benefits the middle class as much as business interests.
“An extender package that makes permanent expiring business provisions without addressing tax credits for working families is the wrong approach, at the expense of middle class families,” Treasury Secretary Jacob J. Lew said in a statement issued Nov. 24. “Any deal on tax extenders must ensure that the economic benefits are broadly shared.”
Talks are under way on Capitol Hill to work out a deal on extenders in which some are made permanent. However, in Lew's statement and similar comments by White House Press Secretary Josh Earnest Nov. 24, neither gave details on which tax extenders benefiting the middle class they would like to see made permanent in exchange for the permanent business breaks Republicans are supporting.