Senate Finance advanced a tax extender package on a 21-5 vote shortly before the August recess. The $205 billion measure, which included AMT relief, has “a pretty good” chance of seeing floor action before the Senate begins its pre-election recess, Majority Leader Harry Reid, D-Nev., said Wednesday. However, a Republican aide said the Senate has run out of time to consider the legislation.
House Republicans have never seriously considered introducing a tax extenders package before the election. Their preference has been to consider extenders including the research and development tax credit along with the many other expiring tax provisions. It appears they will get their wish.
Terri Henderson, 6, center, whose mother is El Salvador, attends a rally with members of Congress at Union Station's Columbus Circle to announce the Restore Opportunity, Strengthen, and Improve the Economy (ROSIE) Act on July 29, 2014. The legislation provides incentives for government contractors to pay a living wage and other benefits that would help low-income workers.