Congressman Dave Camp (R-MI), Chairman of the Ways and Means Committee issued a press release today announcing that the Committee would hold hearings in April to examine programs known as “tax extenders” which expired at the end of 2011 and have yet to be renewed. Included in these extenders are the WOTC and Research & Development tax credit programs. All of the various extenders are typically renewed as a package, but there is a movement in Congress to scrutinize the individual provisions and keep ones that work while allowing others to expire permanently.
The following is the text of the press release:
“Far too many provisions in the tax code are temporary, making it hard for employers to plan, invest and create new jobs for American families. That is one reason why we are committed to comprehensive tax reform. An important part of comprehensive reform is to conduct a thorough review of the various targeted provisions in the Code commonly referred to as ‘tax extenders.’ In 2010, House Republicans led the charge to review these provisions and over 70 (estimated at over $100 billion) were cleaned out of the Code. In 2012, we must again examine these extenders, and the Committee will begin that process after the April recess. We look forward to hearing from interested parties about the merits of these tax policies.”