Thursday evening, after the Senate came up three votes short of the 60 needed to advance H.R. 4213, the American Jobs and Closing Tax Loopholes Act of 2010, Reid reiterated that lawmakers will give the measure a rest and move on to small business legislation.
And don't expect, said the Nevada Democrat, to see the unemployment benefits that were part of the tax package rolled into the business bill. That, however, probably will change after the Dems debrief and reconnoiter.
While lawmakers on both sides of the aisle might hold their positions on most of the tax breaks and how to pay for them, I suspect it will be difficult in this election year for them to put off action on measures that will help out-of-work potential voters.
We'll find out in November who are the winners and losers in this game of political chicken.
As for the extenders, there's speculation yet another Senate version could appear when Congress returns from its July 4th vacation district work session.
But the way things have been going, don't be surprised if another December holiday break in D.C. is pushed to the brink.
Read more about the vote and what might happen next in Congress Fails to Pass an Extension of Jobless Aid (New York Times); Senate Dems fail to advance tax extenders bill for the third time (On the Money blog/The Hill); Republicans kill Senate jobless aid measure (AP); and Senate again rejects expanded spending package (Washington Post).
- Tax extenders moving (maybe) in Senate
- Today's episode of Tax Extenders Folly
- Tax extenders Senate saga continues
- Senate tax extender changes: homebuyer credit extension,
easing S Corp taxes?
- Senate makes changes to tax extenders
- House passes extenders
- Carried interest slows extenders vote
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