Hospital Bonds
A coalition of 35 national organizations, including the AHA, today urged House and Senate leaders to 鈥減rotect in full鈥 the current federal income tax treatment of private activity bonds, as envisioned by the Senate version of the Tax Cuts and Jobs Act.
A coalition of 35 national organizations, including the AHA, today urged House and Senate leaders to 鈥減rotect in full鈥 the current federal income tax treatment of private activity bonds, as envisioned by the Senate version of the Tax Cuts and Jobs Act.
The House has named its conferees to reconcile the House and Senate versions of the Tax Cuts and Jobs Act, legislation to overhaul the tax code that also contains several notable provisions affecting hospitals. The Senate is expected to name its conferees later today.
Moody鈥檚 Investors Service yesterday revised its outlook for the nonprofit health care sector to negative from stable, projecting a continued decline in cash flow through 2018. 鈥淩evenue growth is under pressure because of very low reimbursement rate increases, an ongoing rise in government payers鈥
The Senate voted 51-49 early Saturday to approve tax reform legislation, which includes provisions that would repeal enforcement of the Affordable Care Act mandate that most individuals have health insurance, eliminate hospitals鈥 ability to access low-cost capital financing through advance鈥
The AHA is pleased that the Tax Cuts and Job Acts of 2017 Senate bill did not eliminate the tax-exemption for private-activity bonds for not-for-profit hospitals, protecting hospitals' and health systems' access to this vital source of low-cost capital.
Twenty-one House Republicans yesterday sent a letter spearheaded by Rep. Randy Hultgren (R-IL) to House and Senate leadership urging them to preserve the tax-exempt status of private-activity bonds and advance refundings of outstanding tax-exempt bonds in any tax reform legislation. 鈥淧rivate鈥
The Senate Budget Committee today voted 12-11 along party lines to approve the Tax Cuts and Jobs Act of 2017, a