Charitable Tax Deduction Option Would Expand Under House Bill
Earlier this month, Representatives Chris Smith (R-NJ) and Henry Cuellar (D-TX) introduced the Charitable Giving Tax Deduction Act (H.R. 5771), a bipartisan bill that would help to incentivize individuals’ charitable giving, an important revenue source for community behavioral health organizations. If passed, this bill would likely help offset expected reductions in charitable giving resulting from the newly-enacted tax reform law.
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Budget Update: FY2018 Budget Not Finalized Yet, Deadline Looms
As the March 23rd government funding deadline inches closer, members of the House and Senate continue their slow move toward a bipartisan agreement on spending levels for the remainder of Fiscal Year 2018. At the time of this writing, text of the spending bill is not expected until next week and lawmakers are likely to leave town for the weekend. Congress has until March 23rd to approve a budget deal to avert another government shutdown.
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Congress Passes Tax Reform, Repeals ACA Individual Mandate
This week both the House and Senate passed a revised version of the Tax Cuts and Jobs Act (TCJA), sending tax reform to President Trump’s desk to become law. The TCJA will have major implications for the nation’s health care system through its repeal of the individual mandate and by adding $1.5 trillion to the federal deficit, which will likely limit what Congress will be able to spend on both discretionary and mandatory health programs, such as Medicaid, in the future. The National Council is deeply disturbed by the negative impact that will result from the passage of the Tax Cuts and Jobs Act.
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Republican Leaders Nearing Final Tax Deal, Release New Funding Bill
On Wednesday, Republican leaders in Congress announced that they had brokered a deal amongst themselves on their sweeping tax reform plan, the Tax Cuts and Jobs Act. Republican leaders plan to bring the bill to the floor of the House and Senate next week and hope to have it signed into law by the New Year. House appropriators also introduced a spending bill to keep the government open until January 19th. The bill includes several health care measures, but is expected to undergo substantial revision to pass in the Senate.
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Senate Readies Vote on Tax Reform Bill
Back from the Thanksgiving recess, the Senate is nearing a vote on its tax reform package – potentially by week’s end. The bill was approved out of committee along a party-line vote earlier this week and on Wednesday night, the Senate voted 52-48 to bring the bill to the floor and begin debate. The National Council has made clear its opposition to this package as it includes provisions that would be detrimental to community behavioral health organizations and Americans’ access to mental health and addiction care.
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Senate Plans Vote on Repeal of Individual Mandate, Tax Reform
Senate Majority Leader Mitch McConnel (R-KY) has announced that the Senate will vote on its tax reform bill, which includes a repeal of the Affordable Care Act’s individual health insurance mandate, next week. The bill could negatively impact mental health and addiction organizations in numerous ways by increasing health care costs and narrowing coverage, reducing charitable giving, and eliminating the medical expense deduction. With members of Congress back home in their districts, now is a key time for advocates to voice their concerns about this harmful legislation.
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House Tax Reform Plan Poses Risks to Health, Nonprofits
Last week, House Republicans unveiled a sweeping tax reform bill (H.R. 1), amounting to a massive tax cut for certain individuals and corporations. While the bill does not cut Medicaid, it would add $1.5 trillion to the federal deficit, which could threaten future health care spending as available federal dollars shrink. The bill also contains provisions that could lessen the charitable donations nonprofits receive and eliminate the medical tax deduction.
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