Call To Action: Senate Floor Action on Tax Reform Starts Today The U.S. Senate began floor action on the Finance Committee-reported tax reform bill today. Senators will have 20 hours to debate the bill, followed by a series of amendments. We understand that among the amendments the Senate will consider is a Manager’s Amendment that will incorporate modifications to the bill to which Senate Majority Leader McConnell and Finance Committee Chairman Orrin Hatch (R-UT) have agreed. A floor vote on the bill is expected to occur late Thursday or Friday morning.
We also understand that discussions between Senate and House Republican Leadership and Tax Committee Chairs are already underway to begin resolving differences between the House and Senate versions of the bill. While the House adopted version of the bill proposes to eliminate PAB and the Senate version has thus far maintained PAB, it is unclear what the ultimate outcome for this critical housing and infrastructure investment program will be in the final version of tax reform.
We urge all housing and economic development advocates to remain in contact with all members of the Colorado Congressional Delegation, especially Senator Cory Gardner and House Republican members. Please continue to urge them to support preservation of tax-exempt Private Activity Bonds. Even if you have previously contacted them, it is important that you maintain active dialogue with their offices via phone or email. Ask them to continue to be a voice of support for PAB as this policy debate continues. Remind them of the importance of PAB to their districts and the state.
Please also thank Senator Cory Gardner, Congressman Polis and Congressman Coffman for voicing their support for PAB preservation.
Rep. Polis co-sponsored an amendment to preserve PAB in the House Rules Committee debate of the bill. While that amendment failed, the demonstration of support was important.
In a November 15th
Denver Business Journal article, Senator Cory Gardner was quoted stating “I don’t really support the direction the House went on that” when asked about the proposed PAB elimination in H.R. 1.
Earlier this week, Congressman Coffman joined with 20 of his House Republican colleagues in co-signing a letter spearheaded by Congressman Hultgren (R-IL)
urging preservation of PAB in the final tax reform bill.
These demonstrations of leadership are critical at this juncture, but we cannot take them for granted. Please express your appreciation for their support and urge their continued action.
Click here for information about
Senator Michael Bennet (D-CO)
Senator Cory Gardner (R-CO)
Rep. Diana DeGette (D-1)
Rep. Jared Polis (D-2)
Rep. Scott Tipton (R-3)
Rep. Ken Buck (R-4)
Rep. Doug Lamborn (R-5)
Rep. Mike Coffman (R-6)
Rep. Ed Perlmutter (D-7)