House panel releases last-minute tax breaks, amid uncertainty over passage


Source: CNBC
By Darla Mercado
November 27, 2018

The House Ways and Means Committee proposed a package of tax provisions on Monday, known as the Retirement, Savings and Other Tax Relief Act of 2018 and the Taxpayer First Act of 2018.

In addition to renewing the “tax extenders” for the 2018 tax year, Ways and Means proposed providing victims of this year’s natural disasters with some tax relief if they must tap their retirement accounts.

Whether the proposals will find enough bipartisan support in this lame duck session remains to be seen.

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