Daily Tax Update - September 18, 2013: House Republicans Plan to Offer "Instructions" for Tax Reform Package

House Republicans Plan to Offer "Instructions" for Tax Reform Package:  Today, House Republicans said that they are planning to introduce a proposal that would include “instructions” for other measures that may be included in tax reform legislation.  Other legislative proposals that could be attached are a debt ceiling increase provision, a Keystone pipeline measure, and a provision delaying implementation of some of the provisions in the Affordable Care Act.

House Majority Leader Eric Cantor said, “In the coming week we will unveil a plan to extend our nation's ability to borrow while delaying Obamacare and protecting working middle-class families from its horrific effects.  Those discussions will also focus on a path forward on tax reform and the Keystone Pipeline, and a variety of other measures designed to lower energy prices, simplify our tax system and get our economy going for the middle class and working people of this country.”

House Ways and Means Chairman Dave Camp said the Republican leadership is still working on what might be included in the debt ceiling bill, saying,  “Obviously tax reform was discussed, and I'm comfortable with where we are in those discussions right now."

The House is expected to vote by the end of this week on a stopgap spending bill to fund the government through mid-December and defund the Affordable Care Act.

Tax Bills Introduced September 17:

1. [113rd] H.R.3114 : To amend the Internal Revenue Code of 1986 to repeal the increase in the income threshold used in determining the deduction for medical care.
Sponsor: Rep Barber, Ron [AZ-2] (introduced 9/17/2013)      Cosponsors (None) 
Committees: House Ways and Means 
Latest Major Action: 9/17/2013 Referred to House committee. Status: Referred to the House Committee on Ways and Means.

2. [113rd] S.1507 : A bill to amend the Internal Revenue Code of 1986 to clarify the treatment of general welfare benefits provided by Indian tribes.
Sponsor: Sen Moran, Jerry [KS] (introduced 9/17/2013)      Cosponsors (1) 
Committees: Senate Finance 
Latest Major Action: 9/17/2013 Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.