Congress Under Pressure to Fix New Tax Law

Congress Under Pressure to Fix New Tax Law


Lawmakers are facing growing pressure from industry groups to fix glitches in the GOP tax law, reports The Hill, but it’s unclear how or when those corrections will be rolled out.

The task is complicated by Democrats’ interest in making substantial changes in the law as part of any technical corrections package, and the tricky politics of the effort are probably enough to put it “on hold until after the election,” says lobbyist Sage Eastman.

Here are four of the glitches highlighted by The Hill:

  • A provision containing a drafting error that requires retailers and restaurant owners to write off the costs of improvements over 39 years. Industry groups are pushing for immediate expensing of such costs.
  • An unintended tax increase on some wineries due to changes in the treatment of tax credits for storage facilities.
  • A change in the rules for charitable deductions that denies an increase in donation limits to those who make non-cash gifts.
  • An error in the rules governing the deduction of sexual harassment settlements involving nondisclosure agreements.