02/05/2019

UBIT Repeal Gaining Traction in 116th Congress

Bipartisan support to repeal a 21-percent tax on fringe benefits is growing

The American Society of Association Executives (ASAE) and other members of the UBIT Coalition, which includes OSAE, continue to meet with congressional offices to seek repeal of a 21 percent tax on so-called fringe benefits—such as free parking or mass-transit assistance—that nonprofits provide to employees.

Just before the holidays, the House passed a tax package authored by Rep. Kevin Brady (R-TX) that would have repealed the transportation benefits tax, along with other tax changes. The Senate did not take that bill up before adjourning for the year, however, and House Democrats now control the agenda in the House.

ASAE and the UBIT Coalition are scheduling meetings with new members of the House Ways and Means Committee and the Senate Finance Committee to urge them to repeal the transportation benefits tax, which projects as a huge burden for associations and other nonprofit groups. Sen. James Lankford (R-OK), who is a new member of the Senate Finance Committee, introduced a UBIT repeal bill last year, and Rep. Brendan Boyle (D-PA) cosigned a UBIT repeal bill in the House.

Please select this link to read the complete article from Associations Now.