Late Friday, the House Ways and Means Committee issued notice for a markup of their section of a bill extending the 2017 Tax Cuts and Jobs Act and enacting much of the president’s domestic policy agenda. The markup will be held May 13 at 2 P.M. EDT.
This notice was accompanied by a limited draft of text that included extensions of several expiring tax provisions. The draft lacked text on many of the issues expected to be most contentious in the forthcoming bill, including any potential provisions related to increasing taxation on tax-exempt organizations. We anticipate a full draft of the text will be released closer to Tuesday’s markup.
Anticipating that this year’s tax bill could be a threat to the tax-exempt sector, ASAE formed the Community Impact Coalition, which the Ohio Society of Association Professionals (OSAP) is actively engaged, to be the voice of associations, professional societies and other nonprofit organizations. We will be in touch with further developments and opportunities for you to help support the coalition’s advocacy and media relations efforts.
Here is a direct link to the markup.