Impact of federal tax reform effort
On Capitol Hill, Members of Congress are negotiating comprehensive tax reform legislation that may significantly impact AAO-HNS members and their practices.
On Capitol Hill, Members of Congress are negotiating comprehensive tax reform legislation that may significantly impact AAO-HNS members and their practices. Notwithstanding the proposal’s effect on individual tax rates and itemized deductions, the legislation may modify tax rules relating to small business income (particularly pass-through entities), as well as the deductibility of student loan interest.
The U.S. House of Representatives passed its $5.5 trillion reform proposal on November 16 by a mostly partisan vote of 227-205. The U.S. Senate passed its comprehensive package, which includes a provision to repeal the Affordable Care Act’s personal mandate, on December 2. Unless one chamber elects to pass the other chamber’s bill, a House/Senate conference committee is necessary to reconcile differences between the two proposals.
The AAO-HNS, along with others in the physician community, are communicating with key leaders in the House and Senate to ensure lawmakers are aware of our concerns and acting to appropriately address the ill-advised provisions prior to final passage.