Today, the Republican members of the House Ways and Means Committee sent a letter to Treasury Secretary Lew expressing concern over the proposed debt-equity regulations under section 385, released by Treasury on April 4. In the letter, Committee Republicans indicate that finalization of the proposed regulations in present form will have a profound and detrimental impact on business operations nationwide. The letter suggests that the retroactive effective date is inappropriate and should be changed to apply, at the earliest, to debt instruments issued on or after a date that is no sooner than 90 days after the regulations are finalized. The letter also requests an extension of the public comment period from July 7 to at least October 5.