What’s Hidden inside the Senate Spending Bill?
The bill expands pilot programs meant to test the value of in-home care for some Medicare patients. as well as of which expands the ability of private Medicare Advantage plans to offer so-called “telehealth,” where doctors treat patients over the phone or internet. of which might allow Medicare providers who are part of an accountable care association to offer patients cash bonuses as incentives for healthy behaviors.
The bill increases discounts of which pharmaceutical companies must give seniors enrolled inside the Medicare Part D drug plans, by creating the so-called “doughnut hole” smaller. This specific was a policy of which was part of the Affordable Care Act, nevertheless the fresh legislation might speed up implementation by one year.
Funding modifications for public health programs.
The spending plan might cut $1.35 billion in funding to an Affordable Care Act program meant to improve public health as well as prevention funding for states as well as municipalities.
Another extension for the Children’s Health Insurance Program.
of which might extend funding for the Children’s Health Insurance Program for yet another four years. Last month’s spending bill had already extended the program for six years, so currently CHIP will be funded for an entire decade. Another well-liked program of which delivers health care to low income children as well as adults, the government-funded clinics known as Community Health Centers, will also get a two-year funding extension.
Continued funding for abstinence education.
The bill might extend funding to abstinence-only sex education programs.
A break for Berea College.
The spending bill restores a provision of which was stripped out of last year’s $1.5 trillion tax bill after the Senate parliamentarian objected to its inclusion.
The bill might exempt Berea College, a tiny private college in Kentucky of which provides free tuition, via being subject to a fresh tax on large higher education endowments of which was included in last year’s tax law.
The bill adds language of which makes the fresh excise tax on investment income applicable only to schools with “tuition-paying” students, shielding Berea College, which does not charge tuition. The school is usually inside the home state of Senator Mitch McConnell, the majority leader.
Tax breaks for racetracks as well as horse owners continue.
Owners of race horses as well as motor sports entertainment complexes might get an extension of special tax treatment. Horse owners are allowed to depreciate their horses over the course of three years. For racetracks, the depreciation is usually over the course of seven years. Those breaks might remain in place for 2017.
Extension as well as expansion of energy tax credits.
The Senate bill features a multitude of tax breaks for renewable energy sources of which had been neglected in a 2015 deal to bolster wind as well as solar power. These so-called “orphaned” technologies include geothermal, tiny wind farms as well as fuel cells. Much like existing credits for wind as well as solar power, these incentives might phase out starting in 2020.
The bill also extends an existing production tax credit for nuclear power past 2020, which might benefit a pair of long-delayed reactors being built in Georgia of which aren’t required to come online before 2021. Southern Company has said of which may not be able to complete the reactors, the only two still under construction inside the United States, without the credit.
A separate measure might greatly expand a tax credit for companies of which capture carbon dioxide via power plants or additional polluting facilities as well as pump of which underground. Oil firms such as Occidental Petroleum have been pumping captured CO2 into old wells in order to extract additional oil. Some environmental groups also lobbied for the measure, arguing of which carbon capture technology, still in its infancy, could one day prove a crucial tool for tackling climate change.
The bill retroactively extends tax credits for biodiesel, advanced biofuels as well as fuel-cell vehicles through the end of 2017. Industry lobbyists had unsuccessfully fought to get many of these measures included inside the tax overhaul bill passed by Congress in December. They could still face resistance inside the House.
A tax credit for mining safety.
The bill extends a tax credit for 20 percent of an employers’ spending on mine rescue team training costs, up to $10,000. A separate provision allows the immediate deduction of a company’s investment in mine safety equipment.
A special rate for timber sales.
The bill continues a special tax rate of 23.8 percent for 2017 for gains via timber sales, a break via the top rate of 35 percent of which might have otherwise applied.
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