Last Thursday, the House Committee on Ways and Means voted to support the “economic recovery” package contained in H.R. 598. The legislation passed “by a party-line vote of 24 to 13.” The legislation will now be combined with other components of the recovery package from other House Committees into H.R. 1, the American Recovery and Reinvestment Act for consideration by the full House of Representatives this coming week.
The Tax Prof Blog has all the relevant links here, including:
Text of the Bill
Joint Committee on Taxation Description of Bill
Joint Committee on Taxation description of Chairman’s Amendment