The House Ways and Means Committee will hold a hearing Jan. 14 on the significance of making the Trump tax cuts of 2017 permanent, Ways and Means Committee Chair Jason Smith (R-MO) announced.
This will likely be the first of many hearings on extending the expiring TCJA tax cuts this year. Smith and Speaker Mike Johnson (R-LA) have an ambitious plan to use the budget reconciliation process to pass one massive bill covering tax cuts, spending cuts, immigration, energy policy and more.
"Failure to extend the expiring provisions of the Trump tax cuts is not an option, and for the past two years the Ways and Means Committee has been hard at work to extend and build on the success of President [-elect] Trump's economic policies," Smith said two weeks ago. "Congress must act swiftly to give American families and small businesses certainty that they will not be hit with a $4.6 trillion tax increase in 2025."
As has been reported, the Ohio Society of Association Professionals (OSAP), the American Society of Association Executives (ASAE) and many other associations are deeply concerned that Congress will look to the tax-exempt sector to help offset the cost of their tax package this year.
This article was provided to OSAP by ASAE's Power of Associations and Inroads.