Tax Extenders

Background

“Tax extenders” refers to a broad list of tax laws that provide temporary tax relief and valuable incentives for companies to promote job creation and economic expansion.

The tax extenders list includes, but is not limited to, the R&D credit, the election to deduct state and local general sales tax, the election to expense "brownfields" environmental remediation costs, the railroad track maintenance credit, the exception under subpart F for active financing income, and the look-through treatment of payments between related controlled foreign corporations (CFCs) under the foreign personal holding company rules. These provisions have expired and been extended many times in the past, and were most recently extended in December 2010. This latest extension expires at the end of 2011.


Chamber Position

The Chamber strongly supports the permanent extension of these provisions. To bring more certainty to U.S. tax law, foster more effective business decisions, and encourage investment. The Chamber urges Congress to make the tax extenders permanent.