One of the last pieces of legislation passed by Congress in 2015 promises to pave the way for urgently needed reforms to the confusing and outdated U.S. tax code – now more than a staggering 74,000 pages. The “Protecting Americans from Tax Hikes (PATH) Act,” signed into law on Dec. 18, is a major bipartisan win in favor of creating a better tax system.
Greater certainty for financial decisions
The “PATH Act” offers families, job creators and entrepreneurs greater confidence and more stability to plan for their futures. By extending or making permanent dozens of helpful tax provisions, the legislation will help support the innovation and investment necessary for long-term economic growth and job creation. In the past, many tax provisions were extended for a year or two, leaving important financial decisions and ventures in limbo.