The U.S. House of Representatives passed the budget reconciliation package, which has many provisions that will impact dentists and the dental industry, according to a May 23 news release from the American Dental Association.
Here are three things to know:
- The package has several provisions that are supported by the ADA, including expanded small business deduction, restored bonus depreciation, employer student loan payments and increased flexibility within health savings accounts and flexible savings accounts.
- Provisions that the ADA opposes include the removal of pass-through entity tax deductions, limits on research income and repeal of the de minimis import privilege.
- The bill now heads to the Senate for consideration, which can be passed with a simple majority vote.
