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News & Views |Work Incentives Bill Won't Have Tax IncreasesTuesday, June 15, 1999 OnLine An agreement has been reached to remove the revenue-raising provisions from a bill (S. 331) that would help disabled workers to return to work. The bill expands the availability of health care, employment preparation, and placement services for disabled workers. It originally was brought up for consideration by the Senate on May 27. However, a number of senators objected to the three revenue-raising provisions that would have paid for the bill. The revenue proposals were: (1) curtail the foreign tax credit carryback from two years to one year; (2) repeal the non-accrual experience accounting method; and (3) impose new Internal Revenue Service user fees. |
Sen. Phil Gramm, R-Texas, and others were concerned that the bill effectively increased taxes to pay for a new entitlement. According to an aide to Gramm, the revenue raisers have been removed from the bill. A Senate vote on the measure is expected on June 16. It should be
noted that the same revenue provisions also are included in the education savings bill
that the Senate
Finance Committee approved on May 19. In addition, the House Ways and Means Committee
passed two trade bills on June 10 that include proposals to repeal the non-accrual
experience accounting method. |
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