The Senate Finance Committee (SFC) has released its report on the National Employee Savings and Trust Equity Guarantee (NESTEG) Bill of 2004, along with a summary of the bill. (You can access the Revenue Charts for the bill here.) The Committee approved the measure on September 17, 2003, as discussed in a previous post. According to CCH, it is unclear when further action on the bill will be taken. CCH also reports that a Committee spokesperson has remarked that staff turnover and the subject’s complexity delayed release of the documents until now.
Also, RIA is reporting that the House is expected to consider the following tax-related bills:
- H.R.4109, the “Simple Tax for Seniors Act” which would allow seniors with social security and pension income to file their income tax returns on a new simplified tax form (to be designated “Form 1040SR”) without regard to the amount of their taxable interest or taxable income.
- H.R. 4359, to make permanent the $1,000-per-child tax credit and ensure that soldiers serving in a combat zone do not lose eligibility for the refundable credit by reason of receiving nontaxable combat pay.