Meeting_Body
EXECUTIVE MANAGEMENT COMMITTEE
NOVEMBER 16, 2017
Subject
SUBJECT: STATE AND FEDERAL REPORT
Action
ACTION: RECEIVE AND FILE
Heading
RECOMMENDATION
Title
RECEIVE AND FILE State and Federal Legislative Report.
Discussion
DISCUSSION
Executive Management Committee
Remarks Prepared By Raffi Haig Hamparian
Government Relations Senior Director, Federal Affairs
Chair Garcetti and members of the Executive Management Committee, I am pleased to provide an update on a number of federal matters of interest to our agency. This report was prepared on November 2, 2017 and will be updated, as appropriate, at the Executive Management Committee meeting on November 16, 2017. Status of relevant pending Federal legislation is monitored on the Metro Government Relations Legislative Matrix, which is updated monthly.
Tax Reform Legislation
Earlier today, the Chairman of the House Ways and Means Committee, Chairman Kevin Brady (R-TX), released the legislative text as well as a section-by-section summary of the "Tax Cuts and Jobs Act" tax reform bill. The Committee is expected to begin hearings on the legislation next week. The Senate is expected to release its version of tax reform in the near future as well. With regards to important tax benefits that support Metro's - we are deeply concerned that the legislative text released earlier today does not include an extension of the Alternative Fuels Tax Credit for Compressed Natural Gas used in Metro's bus fleet. The Alternative Fuels Tax Credit is worth approximately $18 million annually to our agency.
We are also concerned that the legislation released today compromises the Commuter Tax Benefit, which allows tax-free transportation fringe benefits of up to $255 per month per employee for transit expenses. It is our hope that the Commuter Tax Benefit and the Alternative Fuel Tax Credit will be maintained in any tax reform measure adopted by the House and Senate. The "Tax Cuts and Jobs Act" also repeals tw...
Click here for full text