Daily Tax Update - July 13, 2017: Senate Republicans Release Revised Healthcare Legislation

Senate Republicans Release Revised Healthcare Legislation:  Senate Majority Leader Mitch McConnell (R-KY) released a revised Senate healthcare bill. Unlike the prior Senate bill, the revised version would retain the Affordable Care Act’s 3.8% net income investment tax and 0.9% surtax on upper income individuals. Other tax increases under the Affordable Care Act, such as the excise taxes on medical devices and high-cost employer-sponsored health coverage, would still be repealed.

IRS Issues Update for Weighted Average Interest Rates, Yield Curves, Segment Rates:  Notice 2017-39 provides various prescribed rates for the corporate monthly yield curve, the corresponding spot segment rates used under section 417(e)(3), and the 24-month average segment rates under section 430(h)(2). The notice also provides guidance as to the interest rate on 30-year Treasury securities under section 417(e)(3)(A)(ii)(II) as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate under section 431(c)(6)(E)(ii)(I).