Posts Tagged ‘extenders’

Extenders: Baucus Balks

September 23, 2013

Senator Max Baucus of Montana, chairman of the Senate Finance Committee, says he’s had it with extenders. These are tax benefits that have expiration dates but regularly get renewed, usually for a period of just a year or two. Individuals rely on a number of these, such as the itemized deductions for state and local sales tax and private mortgage insurance (PMI). Several of them are important to businesses as well.


Friday Wrapup

June 25, 2010

This week’s biggest story is continuing gridlock on tax legislation, derailing the extenders law and threatening to block others. (more…)

Extenders: Deal or No Deal

May 21, 2010

Lead taxwriters in the House and Senate have emerged from lengthy negotiations to announce a deal on legislation to extend various popular tax breaks that expired at the end of 2009. For individuals these include the deduction for state and local sales taxes, the additional standard deduction for real property taxes, and the above-the-line deduction for qualified tuition and related expenses. These tax breaks aren’t particularly controversial, but every year there’s a struggle to reach agreement on whether to offset the revenue loss with a tax increase somewhere else, and if so, how to do that. Despite the agreement between Democrats Max Baucus of the Senate Finance Committee and Sander Levin of the House Ways and Means Committee, it isn’t yet clear that the votes are available to pass this legislation. (more…)

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