Daily Tax Update - March 24, 2017: House Republicans Pull American Health Care Act

House Republicans Pull American Health Care Act:  Today, House Republican leadership pulled the American Health Care Act from consideration on the floor shortly before its scheduled vote in the House.  House Speaker Paul Ryan (R-WI) stated that there were insufficient votes to pass the bill and cancelled the vote after consulting with President Trump.  Speaker Ryan said the Affordable Care Act and its associated taxes will remain in place for the foreseeable future.  House Ways and Means Chairman Kevin Brady (R-TX) indicated that he plans to move “full speed ahead with President Trump on the first pro-growth tax reform in a generation.”

Ways and Means Announces Markup of Trump Tax Return Disclosure Resolution:  Today, the House Ways and Means Committee announced that on March 28 it will hold a markup of H.Res. 186, which directs the Department of Treasury to provide to the House President Trump’s full tax returns for the years 2006-2015.  The resolution was introduced by Rep. Bill Pascrell (D-NJ).