Washington, DC - Senate Finance Committee Chairman Max Baucus (D-Mont.) today commented on the second consecutive Senate failure to invoke cloture to proceed to H.R. 6049, a move that would have opened the floor to debate of the legislation. Senator Baucus introduced a substitute bill last week that would also provide critical tax relief for America’s working families and businesses by extending tax incentives that expired at the end of 2007 or are set to expire at the end of 2008, such as the college tuition deduction, state and local sales tax deductions and business tax credits for research and technology innovation. The Baucus bill would also block the Alternative Minimum Tax (AMT) from hitting millions of middle-income Americans that were never meant to pay the tax.
“Senators who voted against this bill have once again disappointed millions of working American families that depend on these tax credits and incentives for protection against the alternative minimum tax, real help in paying high college tuition and otherwise making ends meet. This vote is a disappointment to all corners of the business community that rely on the research and development tax credit and other tax relief that helps them remain competitive at home and abroad. And this vote is a disappointment to future generations of Americans that desperately need new energy alternatives for their economic and national security," Baucus said. “I say again, it is unconscionable to refuse to proceed to at least debate a bill containing all these vital measures. The Senate is letting down the country by missing this opportunity, but I will continue to fight for these provisions."
Source: Ranking Member’s News
