House Unveils Tax Reform Package: GWE Included >>

February 27th, 2014

House Unveils Tax Reform Package: GWE Included

Yesterday, February 26th, Congressman Dave Camp, Chairman of the House Ways & Means Committee (which has primary jurisdiction over federal taxation legislation) released a draft of his comprehensive proposals to reform the tax code. The draft bill would simplify the tax code by eliminating a number of tax credits, cutting income tax brackets from seven to three, and removing many tax deductions and exemptions.

For Indian Country, the draft bill contains most of the provisions included in the Tribal General Welfare Exclusion Act (H.R. 3043 and S. 1507), which would clarify that benefits received by tribal members pursuant to tribal government programs and services are not subject to federal income taxation. It would also require education of IRS agents before acting on Indian lands, and it would establish a much needed Tribal Advisory Committee within the Treasury Department to weigh in on federal tax policy. However, several provisions of the GWE Act were left out of the draft tax reform bill, and a repeal of the accelerated depreciation and Indian employment tax credits was added to the proposal.

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