Tax bill conference report released; House could vote tomorrow

House and Senate Republican conferees Friday released the conference report for legislation to overhaul the nation's tax code, which would maintain tax-exemption for private-activity bonds, as advocated by the AHA. “We are also pleased that the conference agreement’s definition of taxable income for purposes of calculating interest expense deductions follows the House bill and will be preserved in the near term,” said AHA President and CEO Rick Pollack. “This will facilitate assistance for certain hospitals to ensure access to care. Together with the preservation of medical expense deductions for patients with high medical costs – utilized by nearly 10 million Americans annually – we are encouraged by the inclusion of these important provisions in the Tax Cuts and Jobs Act. However, we are concerned about the inclusion of the individual mandate repeal and the consequences that this would pose to our patients. It is unfortunate that the important task of overhauling the tax code will erode health coverage for many.” The House could vote on the conference report as early as tomorrow, with a Senate vote to follow shortly afterward.