On May 20th, Congressman Erik Paulsen (R-MN-3) introduced H.R. 4691, a bill that would simplify the private foundation excise tax to a flat rate of 1 percent. The bill is co-sponsored by Congressman Danny Davis (D-IL-7).
A severe storm system swept across the Midwest and South on April 27-29, 2014, with heavy rains, hail and tornadoes, causing damage in at least 10 states.
Congress returns to work this week — and, according to Politico, the extenders debate will quickly heat up.
The House Ways and Means Committee held a hearing last week to discuss the perennial issue of the tax extenders, the temporary tax provisions that expire year after year and are usually renewed.