It happens every year. Congress lets popular tax breaks expire. This year, Congress is letting a package of 55 popular tax breaks expire at the end of the year. Congress lets these tax breaks fall by the wayside almost every year, Creating uncertainty for millions of taxpayers. Eventually they will renew them and make them retro active.
Trade groups complain that Congress makes it impossible For businesses and individuals to plan for the future. What if the lawmakers don’t renew the tax break you depend on ?
“It’s a totally ridiculous way to run our tax system” Said Rachel Bernstein, vice president and tax counsel to the national retail Federation.
The annual practice of letting these tax breaks expire is a symptom of our divided Congress which struggles to pass even routine laws.
Of course Congress Is on vacation until January, so the laws will expire -There is no chance they will be renewed before they expire. Even when Congress returns the precedent is that Congress will wait months before addressing the problem.
“It’s shameful” Said Rep. John Lewis of Georgia