The short answer is: Nothing….yet.
We spoke with Congressman Erik Paulsen’s office today, in an effort to get updates on the expectation of when the Senate would review and/or vote on the Bill – as passed by the House on 9/22/16. As you may know, the Bill was sponsored by Mr. Paulsen, a Republican from Minnesota. You can learn more about him here:
We wrote about the House-approved version back in September. You can read that summary here:
Given the chaotic nature of the 2016 election and several new members of Congress set to take office within the next couple of weeks, Congressman Paulsen’s office advised us that they were working with the new Congress to make progress on this Bill and would be providing us with an update as soon as there was more information to report. We were not provided with an exact timeline; however, we do expect to hear from them soon.
And if you didn’t hear – there is a new President as well, which will certainly affect the viability of the bill passing. Given the nature of the House’s original vote where Republicans passed the Bill almost unanimously (only 1 “nay”) and Democrats were split, a Trump presidency would seem to be a good sign for the passage of some version of this Bill.
We will, of course, continue to provide updates as soon as we hear directly from the source.
Happy 2017 – may this be the year AMT on stock options is finally addressed in a meaningful way. Or just killed. Most of us can get behind that, especially if you’ve experience the pain of trying to exercise incentive stock options (ISO’s).
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