Senate Majority Leader Harry Reid, D-Nev., said that renewing more than 50 tax breaks, known as tax extenders, that expired at the end of the year will be a top priority for Sen. Ron Wyden, D-Ore., when he gets the Finance Committee gavel in the coming weeks.
Wyden is in line to become chairman following the departure of Sen. Max Baucus, D-Mont., who has been tapped by President Barack Obama to be ambassador to China.
“I talked to Wyden today and he’s going to focus on that as soon as he gets the job,” Reid said.
Sen. Charles E. Schumer, a member of the committee, said “I know [Wyden] wants to do tax extenders early. And I think that is the sentiment in our caucus to do them. And ... it's something that has had bipartisan support, it’s a tax cut, so Republicans are more open to working on that in both the House and Senate."