Late last week, the details of the conference report on tax reform were released, setting the bill up for a vote this week in each chamber. After a quick review of the legislative text, ASAE's public policy arm found that the following provisions that ASAE has opposed are NOT in the final bill: 

Thank you to everyone who weighed in on these provisions during this very rushed legislative process. Collectively, ASAE members played a very influential role in this tax overhaul. The bill is not perfect, but we were able to protect the association community from some harmful provisions. Anecdotally, we heard from tax staff in the Senate that they received more calls and emails about the royalty provision than any other provision in the tax bill. That is a testament to the ability of ASAE's members to mount a concerted advocacy effort when threatened. 

As expected with any issue as sweeping and complex as tax reform, there are still a few issues we are disappointed to see in the final bill. One is the excise tax on executive compensation over $1 million. 

We strongly believe this is an issue of fairness, and if Congress is going to grandfather in existing contractual arrangements for for-profit corporations, then tax-exempt organizations deserve the same treatment. We will continue to make this case with lawmakers. Ways and Means Chairman Kevin Brady has acknowledged there will likely be a need for a technical corrections bill in January to fix any glitches in the tax bill. We will strongly urge Congress to fix this fairness issue and we will update you on the timing of that effort as soon as we can. 

If you have any specific questions about any of the provisions mentioned above, please contact the Public Policy team at publicpolicy@asaecenter.org.