Brady releases revised version of year-end tax package

House Ways and Means Committee Chairman Kevin BradyKevin Patrick BradyJOBS for Success Act would recognize that all people have potential Smaller tax refunds put GOP on defensive Key author of GOP tax law joins Ernst and Young MORE (R-Texas) on Monday released a revised version of his year-end tax package, a move aimed at securing enough House GOP votes for passage.

The new version of the bill, which is 253 pages, adds several Republican priorities, including provisions that would delay and repeal taxes created under ObamaCare, ease restrictions on political activity by churches and other nonprofits and allow unborn children to be the beneficiaries of 529 education savings accounts.

ADVERTISEMENT

The revamped measure removes provisions that would renew a host of expired tax breaks, known as “tax extenders.” It retains portions of the original bill that focus on disaster tax relief, retirement savings, IRS improvements and corrections to the 2017 GOP tax law.

Brady released the original version late last month. It had been expected to get a vote the week after Thanksgiving but ultimately was left off the schedule, a sign that it didn’t have the votes to pass.

While the original bill didn’t contain some of the more partisan provisions in the new version, Democrats opposed the initial package because of its cost and because they weren’t involved in drafting the measure. Some Republicans weren’t in Washington when the bill was expected to receive a vote, and GOP lawmakers sought to get their priorities included in the legislation.

Brady said he’d defer to House Majority Leader Kevin McCarthyKevin Owen McCarthyHouse leaders need to modernize Congress for the sake of America Overnight Energy: McConnell tees up vote on Green New Deal | Centrist Dems pitch alternative to plan | House Republican likens Green New Deal to genocide | Coca-Cola reveals it uses 3M tons of plastic every year House GOP lawmaker says Green New Deal is like genocide MORE (R-Calif.) on the timing of any vote on the revised bill, but said the new version reflects improvements made after listening to lawmakers.

He said that “adding a couple of provisions that are important to the Republican House, I think, is appropriate" and that the Senate could eliminate any provisions that lack bipartisan support. He also noted that Democrats have supported delays to ObamaCare taxes in the past.

Sen. Ron WydenRonald (Ron) Lee WydenHillicon Valley: Mueller delivers report, ending investigation | FEMA exposed info of 2.3M disaster survivors | Facebook asks judge to toss DC privacy lawsuit | Trump picks his first CTO | FCC settles lawsuit over net neutrality records Treasury expands penalty relief to more taxpayers Overnight Health Care: Senators seek CBO input on preventing surprise medical bills | Oversight panel seeks OxyContin documents | Pharmacy middlemen to testify on prices | Watchdog warns air ambulances can put patients at 'financial risk' MORE (Ore.), the top Democrat on the Senate Finance Committee, criticized the new bill, saying it contained "an array of holiday gifts for Republican interests." He said it looks like Brady is effectively "putting up a white flag of surrender" on tax policy for the year.

Brady said he removed tax extenders from the package because those provisions will now move on a “separate track.” Congress often renews the extenders for one or two years on a bipartisan basis at the end of a calendar year.

“We’re looking for signals from the Senate, both from the Republicans and the Democrats, on the extender package,” he said.

Sen. Chuck GrassleyCharles (Chuck) Ernest GrassleyTreasury expands penalty relief to more taxpayers Overnight Health Care: Senators seek CBO input on preventing surprise medical bills | Oversight panel seeks OxyContin documents | Pharmacy middlemen to testify on prices | Watchdog warns air ambulances can put patients at 'financial risk' Drug prices are a matter of life and death MORE (R-Iowa), who is expected to lead the Finance Committee next year, said that any year-end tax action would have to be added to a government funding bill.

The Joint Committee on Taxation estimated that the revised bill would cost about $80 billion over 10 years, with most of the revenue loss stemming from the delayed ObamaCare taxes, Brady said.

Updated at 6:01 p.m.