The Senate Finance Committee Chairman, Ron Wyden [D-OR], and Ranking Member Orrin Hatch [R-UT], announced the Senate Committee on Finance will markup legislation on a set of provisions known as the "tax extenders." The tax extenders have expired or will expire at the end of this year and the new bill entitled "Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act" will be marked up on Thursday, April 3, 2014. The so-called Indian extenders, which include the accelerated depreciation for projects on or near tribal lands; the Indian employment tax credits given to firms hiring Native workers; and the Indian coal tax credit, all made the Chairman's mark.
NAFOA urged the Senate Committee on Finance to include all of the expiring Indian tax credits since tribes and their investment partners rely on the extenders to continue existing economic development projects, especially in distressed areas. This is a significant gain for Indian tribes since the Committee Chair, Senator Wyden, has recently assumed the leadership role on the powerful Finance Committee and including these important provisions shows his commitment to Indian Country. The inclusion of all of the Indian extender provisions in the initial EXPIRE mark bodes well for his continued leadership on Indian issues.
In its current version, EXPIRE does not include any new programs such as the "Tribal General Welfare Exclusion Act of 2013". However, in recent meetings regarding this Act, Senator Wyden has expressed his support. NAFOA will continue to work with the Finance Committee and encourage action during this session of Congress.
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