This week, AGC joined a group of 59 trade groups to call on Congressional leaders to pass legislation extending a number of tax provisions that have either recently expired or are set to expire at the end of the year (commonly called the “tax extenders”). The letter calls for extending these provisions through at least 2020.
Since 2017, a host of temporary tax provisions, many with broad bipartisan support, have remained lapsed due to Congressional inaction. The uncertainty surrounding many of these provisions has created confusion and delayed investments sectors of the economy. For the construction industry, AGC supports extending a deduction for energy efficient commercial buildings (Section 179D, which expired at the end of 2017), the New Markets Tax Credit, and the Work Opportunity Tax Credit (which are scheduled to expire at the end of this year).
While legislation extending these provisions passed the House of Representatives earlier this year, and the Senate Finance Committee passed legislation addressing this as well, it is unclear if Congressional leadership can come to agreement on an end of year legislative package that includes tax extenders.
For more information, please contact Matt Turkstra at [email protected].
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