Notice From ASAE's Grassroots/Public Policy
Sent September 18, 2013
Momentum on tax reform in Congress is increasing. The House Ways and Means Committee is poised to release a draft bill in the coming weeks. The stage is set for a possible mark up of the committee bill in October. While much of the media's focus has been on adjusting corporate or individual tax rates, ASAE has been watching concurrent debates on deductions, credits, and additional sources of revenue. ASAE is concerned about potential ramifications for the association community, as it is unclear how Congress will address those issues.
The issue that is of the utmost concern to the association community is modifications to the UBIT statute. Adjustment to the statute may force associations to make stark changes to their business models. In preparation for a debate in Congress on these issues, ASAE yesterday sent
this letter to the leadership of the Congressional tax-writing committees. In the letter ASAE reaffirms to Congress the major economic impact of associations, as well as how associations depend on income from passive royalties to advance their tax-exempt mission. Finally, we reiterate the important work that associations do around the country that may be severely diminished due to changes in the statute.
It is important over the coming weeks that the association community be aware of the tax reform debate and the implications for our community. We will continue to meet with offices on the Hill and keep you apprised of progress. If you hear of any updates or any issues, please don't hesitate to contact us at
publicpolicy@asaecenter.org or 202/626-2703. Thank you for your support.