WASHINGTON — The chairman of a House Ways and Means Committee panel will hold a hearing on June 8 to examine a host of expiring tax provisions while the panel’s ranking Democrat called for renewal of the Build America Bonds program as part of a larger jobs bill.
Rep. Pat Tiberi, R-Ohio, chairman of the committee’s select revenue measures subcommittee, announced the hearing Friday.
“As part of the Ways and Means Committee’s ongoing effort to review dozens of tax provisions that either expired last year or expire this year, we need to consider carefully the principles that we should use to evaluate the merits of these policies,” he said in a release. “It is time for the subcommittee members to roll up their sleeves and see how the provisions stack up against what experts consider the principles of sound tax policy.”
Meanwhile, Rep. Sander Levin, D-Mich., sent a letter to committee chairman Rep. Dave Camp, R-Mich., urging him to act on jobs legislation that would reinstate the BAB program in addition to five other expired tax-credit programs.
“The Ways and Means Committee has failed to take up proposals within our jurisdiction to spur job growth for the last year and a half,” Levin wrote. “It is vital that it do so with all deliberate speed.”
Under the BAB program, which was created in 2009 by the American Recovery and Reinvestment Act and expired at the end of 2010, issuers sold more than $181 billion of BABs and received subsidy payments from the federal government equal to 35% of their interest costs.
The tax extenders hearing is scheduled for June 8 at 9:30 a.m. in the Longworth House Office Building.
