Today, the Ways and Means Committee approved four tax bills to address three challenges facing the American people: energy production, student loans, and access to water.
As Ways and Means Chairman Kevin Brady (R-TX) said:
“Today we are continuing our work to advance the people’s priorities through an open, inclusive legislative process…
“Our Committee is dedicated to taking action wherever possible to advance innovative solutions that will help the American people. And today we have several bipartisan solutions before us that have strong support on both sides of the aisle.”
The following legislation was approved by the Ways and Means Committee:
- To amend the Internal Revenue Code of 1986 to modify the credit for production from advanced nuclear power facilities (H.R. 5879), sponsored by Rep. Tom Rice (R-SC), which ensures the effective operation of the tax credit for nuclear energy production
- The Helping Ensure Accountability, Leadership, and Transparency in Tribal Healthcare (HEALTTH) Act (H.R. 5406), sponsored by Rep. Kristi Noem (R-SD), which addresses the tax treatment of the Indian Health Service student loan repayment program
- The Stop Taxing Death and Disability Act (H.R. 5204), sponsored by Rep. Peter Roskam (R-IL), which protects families from being hit with a large tax bill when federal student loans are forgiven due to death or disability
- The Water and Agriculture Tax Reform Act of 2015 (H.R. 4220), sponsored by Rep. Ken Buck (R-CO), which addresses the tax qualification of mutual irrigation and ditch companies organized to help promote access to water