Legislative update: Senate Finance to consider variety of tax bills

Senate Finance to consider variety of tax bills

The Senate Finance Committee is scheduled to meet in “open executive session” on Wednesday, February 11, at which time it will consider 17 “original bills” concerning a variety of topics.

Related content

Among the bills are measures that would:

  • Revise rules for real estate investment trusts (REITs), regulated investment companies (RICs), and the Foreign Investment in Real Property Tax Act (FIRPTA)
  • Modify the alternative tax for certain small insurance companies
  • Modify the excise tax on cider
  • Provide rules for charitable contributions to, and public charity status of, agricultural research organizations
  • Provide an exception to the private foundation excess business holding rules for certain philanthropic business holdings
  • Provide for a waste-heat-to-power investment tax credit
  • Convert the tax on liquefied natural gas (LNG) and liquefied petroleum gas (LPG) to an energy-equivalent basis
  • Allow certain clean coal power grants to be excluded from gross income


Read the full list of bills on the Finance website.

© 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal



KPMG's new digital platform

KPMG's new digital platform