The Chairman of the U.S. House Ways and Means Committee (Richard Neal, D-MA), the Ranking Republican on the Committee (Kevin Brady, R-TX), the Chairman of the Committee’s Oversight Subcommittee (John Lewis, D-GA), and the Ranking Republican on the Oversight Subcommittee (Mike Kelly, R-PA) released today a bill to redesign the IRS.
A Ways and Means press release about the “bipartisan, bicameral” proposed legislation includes the following statement from Reps. Neal, Brady, Lewis, and Kelly:
The House Ways and Means Committee and the Senate Finance Committee have carefully and thoughtfully developed this legislation over several years, after numerous hearings and roundtables, in a bipartisan, bicameral manner. The goal of the legislation is to modernize the IRS, putting taxpayers first. The commonsense provisions in this bill will protect low-income taxpayers, provide sensible enforcement reforms, and ensure the IRS provides taxpayers and small businesses the assistance they deserve.
A summary of the bill released by Ways and Means, lists the following key features:
Senate Finance Committee Chairman Charles Grassley (R-IA) announced in a floor speech today that he intends to introduce companion legislation, co-sponsored by Ranking Member Ron Wyden (D-OR), in the Senate.
The Ways and Means Committee has not yet indicated any plans to act on the bill. However, it is possible that the Committee could meet to mark up the bill soon, possibly as early as next week. Even if the Committee does approve the bill, it is unclear when the full House of Representatives or the Senate might act upon the bill. While Senator Grassley indicated a hope to move the IRS modernization legislation quickly and the bipartisan and bicameral nature of the proposed legislation enhances the prospects that IRS modernization legislation might move through the legislative process, it is impossible to predict with certainty if or when such legislation may become law.
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