Senators voted 96-3 to take up a bill that would retroactively reinstate five dozen tax breaks for two years at a cost of $81 billion. “Lawmakers overseeing tax policy have indicated that a final deal to extend all of the expired credits might not come until after the midterm elections,” said The Hill newspaper. The Senate was scheduled to continue consideration today of a motion to proceed on the bill.
The Senate package includes the $1 a gallon biodiesel tax credit and tax incentives for solar and wind power. Iowa Sen Chuck Grassley told reporters that he hoped for speedy passage but he noted wind power is a flash point for debate. The Hill says Arizona Sen Jeff Flake called the wind power incentive a “zombie credit.’