If only it were that easy to get some technical corrections to the 2017 tax law. It’s becoming increasingly unlikely that a technical corrections bill will see the light of day before the November elections. House Ways and Means Chairman Kevin Brady (R-TX) has already said that the corrections would not be hitching a ride with the FAA reauthorization bill.
Last week, Rep. Peter Roskam (R-IL) told an audience that there was no bipartisan support to move the ball forward in the near term. Ways and Means Ranking Member Richard Neal (D-MA) would like to hold hearings on any proposed fixes and other changes to the tax law before giving his support. Although lawmakers are sitting still on technical corrections, committee staff remains fully engaged in talks. There’s reportedly a list of corrections being circulated among the staffers.
Two potential corrections have been in the news recently. First, business groups have been pushing for a fix to the so-called “retail glitch” that extends the depreciation period for remodeling and other improvement costs over a 39-year window. Second, the 2017 tax law inadvertently eliminates the ability of sexual harassment victims to deduct their legal expenses. Since committee staffers have acknowledged these two mistakes, they will likely fix the provisions in any forthcoming technical corrections package.