Trent Lott: “I agree with that. I might say that there are some permanent provisions in the House Ways and Means version of this…”

“I agree with that. I might say that there are some permanent provisions in the House Ways and Means version of this bill. They would make permanent the extender with regard to the alternative minimum tax and how it affects the low- and middle-income people and others. Also, I have a bill at the desk to express my strong feeling on this subject that would make the R&D tax credit permanent. I think to come back every year, 2 years, or even every 5 years, causes concern and insecurity with regard to those tax credits. I hope we will make it either permanent, or as long as possible, in the conference. I know there is at least one Senator who has provisions he hopes will be considered in the conference, and I think they should be. On our side, I have one Senator who feels very strongly that there are three parts of this bill that affect permanent law, which is not extenders. I agree. I think those permanent law issues should be dealt with by the regular committees. One has to do with brownfields, one with a rum provision, maybe in the Virgin Islands--not that you might want to be for them; I am just questioning whether or not they should be in a bill that is supposed to be tax credit extenders. We have other good provisions in here, a welfare-to-work tax credit, and others. So I am glad we are going to get this done before we leave. I thank Senators for the cooperation on both sides.”