tax bill... my initial take on it

[handmade34]

560 pages w/o footnotes this is a few of the things I garnered from a very brief skimming...

this bill is not nice! and it certainly feels dirty


http://docs.house.gov/billsthisweek/20171218/CRPT-115HRPT-%20466.pdf

Repeal of credit for plug-in electric drive motor vehicles

 

Repeal of deduction for student loan interest

repeals the lifetime learning credit

H. Elimination of Shared Responsibility Payment for Individuals Failing to Maintain Minimal Essential Coverage (sec. 11081 of the Senate amendment and sec. 5000A of the Code)

ACA Mandate eliminated

Section 2001 directs the Secretary of the Interior to establish and administer all aspects of a competitive oil and gas program in the non-wilderness portion of the Arctic National Wildlife Refuge...Section 20001 further requires the Secretary to conduct at least two area-wide lease sales within the 10-year budget window – the first lease sale within four years of the Act’s enactment and the second lease sale within seven years of enactment. Each lease sale must contain not fewer than 400,000 acres and be comprised of those areas that have the highest hydrocarbon potential. The legislation directs the Secretary to issue any necessary rights-of-way or easements across the Coastal Plain for the exploration, development, production, or transportation associated with the oil and gas program. Additionally, the section authorizes the development of up to 2,000 surface acres of federal land on the Coastal Plain.

Aha, they appeal to the masses...

lowers the rate of tax on beer to $16 per barrel

Section 501c3... Present law: Charitable organizations may not participate in, or intervene in (including the publishing or distributing of statements), any political campaign on behalf of (or in opposition to) any candidate for public office.

couldn't quite figure if they change this or not????

[HAB911]

1. Johnson Amendment Repeal Removed from Final GOP Tax Bill

President Donald Trump’s biggest religious freedom policy promise to evangelicals—repealing the Johnson Amendment—will no longer take place via Republican tax reform.

A Democratic senator announced Thursday night that the repeal included in the House version of the tax bill, which would allow churches and other nonprofits to endorse candidates without losing their tax-exempt status, was removed during the reconciliation process with the Senate version, which did not include a repeal.

According to Senator Ron Wyden, the senior Democrat on the Senate Finance Committee, the Johnson Amendment repeal was blocked by the Senate parliamentarian. Because of a requirement called the Byrd Rule, reconciliation bills—which are passed through a simple Senate majority—cannot contain “extraneous” provisions that don’t primarily deal with fiscal policy, The Wall Street Journal reported.

http://www.christianitytoday.com/news/2017/december/johnson-amendment-repeal-blocked-final-gop-tax-bill-byrd.html

[handmade34]

2. I saw the

Senate amendment said no provision and wasn't sure, thanks for the clarification