Democratic News

Yesterday was the cut-off for filing prospective amendments to the FSC/ETI conference report. Earlier this week, Chairman Thomas distributed a discussion draft as a starting point for negotiations. That draft consists almost entirely of provisions that are identical in the House and Senate versions of the corporate tax bill. An initial chairman’s mark is expected on Monday. The energy tax package is not included in this discussion draft because it’s only in the Senate version of the bill. As we have noted often, Sen. Bingaman (a conferee) has been a strong and consistent promoter of energy tax incentives. Last week, and again this week, he made it plain that he will work to ensure that the FSC/ETI conference report contains a strong energy tax package. Because the chairman’s mark won’t be seen until Monday, it is premature (and not especially useful) to detail the energy tax-related amendments that Sen. Bingaman is considering. Possibilities include the entire Senate energy tax package (minus the four extenders that passed as part of the middle class tax cut legislation) … the HR 6 conference report language on energy tax credits (in recognition of the considerable bipartisan and bicameral work that already has been invested in these provisions) … and, as a co-sponsor, several specific energy tax amendments that will be offered by other conferees, both Democrat and Republican. For more details on this conference, or on other possible amendments, please contact the House Ways & Means or Senate Finance committees. Thanks. # # #