4:30 PM
 | 
Nov 09, 2017
 |  BC Extra  |  Politics & Policy

Second Brady amendment removes potentially disruptive provision on non-qualified deferred compensation

A provision related to the tax treatment of non-qualified deferred compensation that could have caused a fundamental change in pay practices across the biotech industry was scrapped on Thursday.

House Ways and Means Committee Chairman Kevin Brady (R-Texas) unveiled a second wave of amendments to the Tax Cuts and Jobs Act (H.R. 1) bill, and among the modifications was the removal of Section 3801 pertaining to non-qualified deferred compensation.

In the original Nov. 2 bill, the section said “an employee would be taxed on compensation as...

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