On December 18, President Obama signed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act) and the FY 2016 Omnibus spending bill.
The Act:
- Makes over 20 key tax provisions permanent, including the research tax credit, enhanced Code Sec. 179 expensing, and the American Opportunity Tax Credit
- Extends other provisions, including bonus depreciation, for five years; and reviving many others for two years
- Enhances many extenders
- Imposes a two-year moratorium on the ACA medical device excise tax and “Cadillac” tax on high cost health plans
