The following is from the San Antonio Express News:
Brady’s immediate priority as Ways and Means chairman will be to press for the permanent extension of a package of temporary tax cuts that have to be renewed every year. Among them is a research and development tax credit for businesses worth an estimated $177 billion over the next decade.
Democrats, in turn, are expected to press for extending temporary increases to the Child Tax Credit and the Earned Income Tax Credit for the working poor. Together, making those changes permanent is estimated to cost $118 billion over the next decade.
Backers of the worker tax credits have sought to apply early pressure by pointing to the estimated 61,000 families in Brady’s district who benefit from the earned income and child tax credits for low-income people.
Some see the makings of a modest budget compromise by combining the business and worker tax credits as part of a must-pass comprehensive 2016 spending bill.
“It could be a small win-win,” said Chuck Marr, director of federal tax policy for the liberal-leaning Center on Budget and Policy Priorities.
It’s clear that Chairman Brady wants to see a permanent R&D credit, it’s less clear how many other extenders he thinks should be (or could be) made permanent.