Congress approves tax reform bill
The Senate voted 51-48 early today to approve the conference report for the Tax Cuts and Jobs Act after removing several provisions that did not comply with budget reconciliation rules. The House then reapproved the bill, which can now go to the president for his signature. The conference report maintains tax-exemption for private-activity bonds and medical expense deductions, as advocated by the AHA. It also repeals the Affordable Care Act’s individual mandate to purchase health insurance; changes the way organizations can deduct interest expense on their debt; repeals the exclusion from gross income for interest on advance refunding bonds; and creates a 21% excise tax on certain executive compensation, among other provisions.
Related News Articles
Perspective
On Tuesday, the Census Bureau reported that “a third of Americans now show signs of clinical anxiety or depression” due to the COVID-19 pandemic. It’s also…
Headline
The AHA today responded to a Centers for Medicare & Medicaid Services request for information by offering solutions for improving maternal and child health…
Headline
The Centers for Medicare & Medicaid Services yesterday released a fact sheet for state and local governments seeking Medicare, Medicaid or Children’s…
Headline
An annual report into death by several factors tied to mental health and wellbeing — otherwise referred to as “deaths of despair” — topped 150,000 in 2018. The…
Headline
The Centers for Disease Control and Prevention yesterday issued revised guidance for pediatric clinicians on caring for newborns with confirmed or suspected…
Headline
State Medicaid programs are reporting an uptick in enrollment compared with their fiscal year 2020 projections, due in part to the COVID-19 pandemic.
The…